What Is a Lease Buyout?

When you’re about to finish a lease period in East Baton Rouge, you generally have two options: a lease return or a lease buyout. So, what is a lease buyout, and how does a lease buyout work? We get this question a lot at Acura of Baton Rouge, so we have a brief guide to the two lease buyout definitions and other important steps in car lease buyouts below! 

Car Lease Buyouts: End of Lease 

So, how does a car lease buyout work if you want to buy your car at the end of a lease? This is the most common way to go about it, and is often listed as the sole lease buyout definition. When you can talk to a Ascension finance center to decide whether to buy or lease, know that the price of a car lease buyout is calculated as what the vehicle is worth at the end of the lease. Choose this option is: 

• You really like your vehicle. 
• There haven’t been any serious repair issues. 
• There’s no comparable price point/vehicle on the car lot. 
• You are able to finance the vehicle at a good interest rate 

This is an option many Livingston drivers choose because the lease has given them time to decide how much they really like the vehicle! 

How Does an Early Lease Buyout Work?

How does a lease buyout work if you’re doing an early lease buyout? This lease buyout definition is a much rarer thing, and some contracts don’t allow it at all. There are still a few reasons it comes up when people ask, “What is a lease buyout?”. The early car lease buyout price is determined by:

• What you still owe on the lease. 
• The residual value of the car on your contract 
• Any further depreciations that result it in being below market value 

Many choose an early car lease buyout out of harsh necessity, to avoid fees associated with going over the mileage limits or having a vehicle in need of serious repairs. 

Get a Car Lease at Acura of Baton Rouge

Acura of Baton Rouge is already to help Baton Rouge drivers get the most out of their car lease! Check out our popular TLX lease deals and more Acura lease deals on our website to see all the vehicles we offer. And contact us today to set up a test drive in a new Acura!