Sometimes, the end of an auto lease can mean saying goodbye to the car you love and having to buy or lease another one. FCCU is here help you avoid all that with our lease buyout options. A lease buyout refinance allows you to buy your car from the leasing company.
We make it easy, First Choice style.
1. Look at your lease contract.
Review your original lease agreement to determine how much it will cost to buy out your lease and purchase your car. Your lease contract and agreement should outline the residual value, or the purchase option price. If you choose to keep the car, you’ll need to pay the residual value amount plus any taxes or DMV fees. You may also have administrative fees that are charged by the leasing company.
If you decide to move forward with the lease buyout, we’re here to help you. See step 2 for the next steps:
2. Gather the required documents.
You’ll need your driver’s license, a lease payoff letter, the vehicle registration, and proof of insurance.
Once you’ve gathered these items, submit an auto loan refinance application or contact us with any questions!