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What Is A Lease Buyout Loan?

There are several reasons you might have chosen to lease a vehicle rather than buy it outright. Some people simply like the feel of “new” cars or trucks, and leasing allows them to stick with vehicles which are never more than a few years old. Many leasing arrangements allow you to reasonable payments on a car or truck it would be difficult for you to afford to purchase off the lot. It also means very little maintenance or repair to worry about – by the time the vehicle needs more than an oil change, it’s time to move on to something new.

And yet, sometimes you end up falling in love with a car or truck and you want it to stick around. You never meant to get serious, but something about it just works when you’re together. Sure, you were both pretty up front about your original intentions, but now you’d like to renegotiate. You’d like your relationship to become… permanent.

Many leases have a buyout price calculated as part of the original lease. It’s based on the estimated value of the vehicle after the number of years agreed to in the lease. If the car is only a few years old, however, its value is still substantial, and you may not have the cash on hand to simply pay for it.

That’s where a lease buyout loan comes in.

Like any new or used car loan, a lease buyout allows you to spread out your balance over a period of years, generally at a fixed interest rate and regularly scheduled monthly payments. The terms available to you will depend largely on your current credit score and your credit history over the past seven years, with particular focus on your track record paying for any previous vehicle loans. Sometimes the leasing company will have financing for your auto lease buyout loan available themselves or lined up through a third party. If so, this is probably addressed in your original paperwork. Other times you’ll find it more beneficial to seek traditional sources for new or used car loans, or do some online auto loan shopping in hopes of finding particularly competitive rates and more flexible lenders.

When You Just Can't Let Go

The most obvious advantage to buying out a lease is that you’ve already driven the vehicle for several years and you know whether or not you’re happy with it. You may be the only person to have driven this particular car or truck, and you know its care and maintenance history. Even the radio button are all programmed to your favorite choices, and the seats are set just the way you like them.

If you’re genuinely interested in buying out a lease for a car or truck you’re driving, revisit the original paperwork and carefully read the terms related to this option. Generally, any arrangements you want to make beyond what’s already been agreed to in the lease should be addressed before the lease expires and the vehicle is returned. There may even be provisions in your contract for an early lease buyout, although this is not universal. Some lease agreements will require the remainder of the lease to be paid in full before any purchase options are considered.

There are situations in which a lease buyout makes more financial sense than others. A typical leasing contract contains penalties for excessive wear-and-tear or miles driven above a specific number designated in advance, similar to when you rent a car at the airport for much shorter time frames. If you’re facing one or more penalties as the expiration of your leasing contract approaches, these should be considered as you calculate your options. These penalties are essentially money you’ll have to pay either way, effectively reducing the “cost” of buying out the lease. By purchasing the vehicle, you avoid these penalties. This means you’ve saved money on that part of the overall transaction. The difference may be enough to offset the disparity between cost and value typical of many lease buyout transactions.

Look Both Ways

The biggest obstacle to many lease buyout situations is that the remaining balance on the vehicle exceeds its estimated value at the point most leases expire. Brand new cars begin losing value on paper the moment they leave the lot. For several years, it’s normal to owe more than your vehicle is technically worth. If you take good care of it, however, at some point along the way this dynamic begins to reverse and your loan balance drops below the value of the car or truck. Otherwise, your vehicle would have a blue book value of zero dollars on the day you make the last payment – which is clearly not the case.

Most lenders will not finance a vehicle for more than its current value, meaning lease buyout loans can be difficult to get for the full price of the car or truck. You may be able to negotiate down the purchase price of your leased car or truck, but not always. It largely depends on the policies and mindset of the leasing company.

One option is to make a down payment equal or greater to the difference between the value and the price. The other is to shop for a similar vehicle elsewhere at a better price. Hopefully, whatever has won you over about the car or truck you’ve been leasing will be equally true of others of similar make and model.

A previously leased vehicle is considered “used” for financing purposes, even if you’re the only person to have driven it. Interest rates for used cars and trucks are generally higher than for new vehicles. You could end up paying higher interest on close to the new car price for a vehicle you’ve already been paying for and driving for several years.

In short, it’s difficult to secure the best terms on a lease buyout. That doesn’t mean it’s never a good idea, but unless you simply must have this specific vehicle, it’s often worth exploring other options when you’re ready to buy.

Loanry® is here to help you with Lease Buyout Auto Loans


Why Loanry?

If you’ve been leasing your vehicle, it’s clear you already value convenience. You’ve chosen the reliability and warranty coverage of a new car without the commitment to its long-term care while still securing a reliable ride for the foreseeable future. By leasing, you’re able to enjoy multiple vehicles over the years – maximizing your comfort as well as your options and minimizing your stress in all things related to your driving experience.

Lease buyout auto loans are not always as cooperative, and they’re certainly not commitment-free. That doesn’t mean, however, that the process can’t be made much better by maximizing your comfort and your options while minimizing your stress.

You already have options spelled out in the original leasing agreement. If you’re satisfied with those terms, there’s certainly a degree of convenience in simply taking advantage of them with your existing leasing company or a financial institution of their choosing. Then again, you may suspect there are better alternatives out there. It never hurts to check with your local bank or credit union and see what they can offer in terms of a lease buyout loan. You may even be able to negotiate with the leasing company or their preferred lenders.

Don’t overlook the many possible advantages of online lending, however. It’s a business model which has radically changed the borrowing experience for countless Americans in the past few decades. The convenience and flexibility alone make it unlike any traditional financing experience. Apply from any internet connected device at whatever time and place you choose – watching your kid’s soccer practice, sipping your morning coffee, or winding down from working the late shift.

At Loanry, we’ve already gone to the trouble to maintain a database of reputable online lenders who specialize in working with situations just like yours – including lenders happy to talk about auto lease buyout loan options. Whenever you’re ready, we’ll ask for some basic information and an idea of your financial needs, then connect you with lenders we believe are most likely to make a good match. Whether or not you agree is entirely up to you; you’re under no obligation to us or the lender unless you decide you like what they’re offering. It’s always up to you – just like with that lease you’ve been utilizing.

Let us know when you’re ready. Any time you choose.


Your decision to lease, purchase, finance, or return, most likely involves a number of considerations. Convenience, comfort, practicality – maybe even necessity. Cost and long-term financial impact may not be the only things to consider, but they’re always in the mix whether we acknowledge them or not.

While there are obvious advantages to leasing, and challenges to many lease buyout situations, there are benefits to be considered as well. First, and most obviously, purchasing your vehicle means you’ll own it within a few years. Assuming you keep up with normal maintenance and avoid unnecessary wear and tear, many cars or trucks can be driven profitably for years after your final payment is made. Imagine what you could do with the monthly amount you’ve been devoting to leasing over time?

It’s also important to keep in mind that every loan and every financial transaction in the 21st century is impacted by your credit history and your three-digit credit score. Maximum loan amounts, interest rates, the terms of repayment – they’re all shaped by the amalgamated fiscal decisions of your past. In turn, every decision you make once you’ve secured a loan shapes and reshapes your credit history and credit score going forward. Whatever your monthly payments or other obligations, every time you make good at your end, you’re establishing the foundation for a stronger financial future.

Shall we get started?


We’re pretty proud here at of our success rate connecting borrowers to reputable online lenders. That’s only one part of what we do, however. is part of the family. Our vision is to provide an organized, centralized location for all of your personal or small business financial needs. That means online tools to compare loan options or check your credit score. It means easy transitions from site to site using a single ID and password across all of And it means easy access to thousands of educational articles and videos discussing everything from strategies for paying off your credit cards to terminology you’re likely to encounter when taking out a home equity loan. It’s all about practical information in plain, simple English – always 100% free and accessible to you, from any device you choose.

Check out,,, Creditry,com,,, and as well. The focus of each is different, but the overall goal is the same – providing you the tools and information you need to take more effective control of your financial world. Whether you’re already fairly confident making investment decisions or refinancing your mortgage, or too embarrassed to ask the difference between a loan and a line-of-credit, there’s something useful here for you – and more on the way every week.

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Did You Hear?

"Education is when you read the fine print. Experience is what you get if you don't."

(Pete Seeger, Folk Singer and Social Activist)

Educate Yourself

It's The Lease You Can Do

When most people think about buying a car or truck, they consider two options – buying outright with cash or financing the purchase price over a period of years. Leasing provides a third option. It’s a shorter commitment, usually at a lower monthly payment than could otherwise be arranged. It allows drivers to move on to newer vehicles every few years, and avoids many of the responsibilities of ownership.

At the same time, sometimes you just know you’ve found the right car or truck for you. Buying a vehicle you’ve been leasing comes with complications not typically found in a traditional automobile purchase. Many lease contracts include limitations on the process and both the pricing and financing can be difficult.

Complications don’t have to be permanent, however, and difficult is not the same as impossible. If this is the right vehicle for you, the rest can usually be resolved with wins all ‘round and it will all be worth it. Let us break down some of what you might expect along the way. When you’re ready, we’re here.

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We provide that information, at your request, to participating members who might be able to able to assist you with your financial needs. Many lenders transfer funds to your checking account as soon as the next business day.


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Reasons for Lease Buyout Auto Loans

Lease buyouts come with more potential complications than most traditional auto financing. That doesn't mean there aren't compelling reasons to move ahead anyway.

You Love the Car

Just like meeting that special someone or finding that perfect café, sometimes it all just clicks. If you realize that this is the car or truck you want to drive today and next month and for years to come, there’s no reason not to explore ownership. A little extra paperwork and commitment is worth it when you’re in love.

Go From Owing to Owning

Leasing means you’re paying for as long as you drive the vehicle, but it’s never quite yours. While there may be advantages to leasing, it’s hard to ignore the benefits and emotional satisfaction of knowing your car or truck is truly yours. It doesn’t hurt to know you’ll have hundreds of extra dollars to work with each month once your final payment is made.

An Offer You Can’t Refuse

Leasing agencies like to keep their inventory up-to-date. From time to time you may get lucky and fall in love with a vehicle they’re eager to unload. You may even be able to negotiate a better purchase price. Purchase options are often spelled out in the original contract, but it's always worth asking.

Avoid Mileage or Maintenance Penalties

Getting full use out of your vehicle sometimes means going over the recommended mileage of the lease or exceeding the allowed wear and tear. If the end of your lease means that substantial financial penalties are looming, that changes the cost-benefit ratio of simply buying out the lease. If you’re happy with the car or truck you’ve been leasing and can live with the mileage and wear you’ve already incurred, a lease buyout loan might make more sense than starting a new lease.

Your Good Credit Means Great Terms

If you have a strong credit history and your credit score is strong – above 700 or so – you’re in a position to secure particularly promising terms for any loan you choose to pursue. The lower interest rates or other benefits for which you may qualify can mean paying far less over the life of the loan than someone with lower credit.

Establish or Strengthen Your Credit History

If you’re looking to build or improve your credit rating, the right lease buyout loan might be a good place to start. If you like the vehicle already and can secure a reasonable purchase price, every payment you make is a step towards a stronger credit history and a higher three-digit credit score. That means better terms and easier access to financial flexibility in the future. Plus, you now own your own car!

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We are a marketing lead generator and advertising service designed to provide you with quick and convenient access to third-party lenders.


We are a marketing lead generator and advertising service designed to provide you with quick and convenient access to third-party lenders.


We are a marketing lead generator and advertising service designed to provide you with quick and convenient access to third-party lenders.


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  • The selection of a third-party purchaser to acquire your information may be determined by a comparison of your registration information with available loan products. Lenders consider a number of factors when assessing your request.

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