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Step 1
Check the Kelley Blue Book to determine the market value of the car (see Resources below). If the market value is equal to or more than the residual value for your car, it makes sense to buy it after the lease expires.
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Step 2
Talk to your dealer or leasing company about the buyout options and negotiate a fair price for the car.
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Step 3
Secure financing for your car loan or pay cash. Don't be afraid to look for a car loan outside of a dealership. This can often save you money.
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Step 1
Contact the lender to find out what the current buyout price is.
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Step 2
Shop for a car loan to finance the buyout amount if you don't have the cash on hand. Your dealer may be able to offer you a loan, but you should shop around to find the best deal.
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Step 3
Get your new lender to write a check to the old lease company for the amount you need to buy out the car.









Comments
elysesdavid said
on 2/7/2009 Good advice...