[header] How to buy a leased car [title] Read the terms of your lease. [step] The conditions of a buyout may vary from dealer to dealer. By reading the lease, you will learn exactly how much you will need to pay to buy out your lease.
[header] How to buy a leased car [title] Read the terms of your lease. [step] The conditions of a buyout may vary from dealer to dealer. By reading the lease, you will learn exactly how much you will need to pay to buy out your lease.
[title] Contact the seller of the leased car. [step] Once you have read the lease, you should contact the seller of the leased car and give him or her your pay stubs and the keys to your leased car. [title] Know that overpayments cost you money. [step] The lease will originally be made up to the dealer as a rental, so overpayment costs are often very significant. Some terms you may encounter include : [substeps] Capitalized cost: the value of the car when you first leased it. Residual value: the expected value of the car at the end of the lease. You can begin paying the rental fee at any time throughout the lease term. [substeps] Leases typically last between three and five years.