A Basic Guide to Lease-to-Own Cars
Leasing is a flexible way to drive a car. Most dealerships offer end-term flexibility. That means they let you choose what to do at the end of the lease. At that time, you can:
- Give the car back and get another vehicle to lease.
- Give the car back and walk away.
- Purchase the vehicle you've been leasing. Usually, you purchase it at a price that is negotiated before you sign the lease. The price should roughly equal the car's market value at the end of the lease term. This is called "lease-to-own."
There are a few reasons you might purchase after leasing.
- It's a good deal to buy out the car. It's economical.
- You simply want to keep the vehicle.
- You don't want to lease again. It's not for you, at that time.
Determine the market value of the car at the end of the lease term by using an estimator such as this. If your dealer will give it to you for less, it's probably a good idea to buy.
Get your quotes online. It's free and convenient. Plus, offers in your hand give you negotiating power. Click here to get quotes from all of your local dealers.
