Buying Your Leased Vehicle? Here Are the Benefits

You’re at the end of your lease.

Now what?

You can either turn your vehicle in and get a new one or you can purchase it.

Here are some reasons that it’s a good idea to buy your leased car.

You’re the only owner
You know all about the true condition of the car because you’re the only one who has had possession of it.

You know that it has received routine maintenance and that it has been well taken care of.

You may get a great deal

If the residual value of the car was set too low at the beginning of the lease, you may be able to purchase it for less than its market value.

The lender may be willing to work with you to avoid the hassle and expense of getting it ready to resell.

Avoid penalties for excess mileage
As you know, part of your lease agreement is the number of miles you’re allowed to put on the vehicle during a year.

It’s usually 12,000 miles. Anything over that and you can be charged as much as 25 cents per mile.

At $250 per 1,000 miles, the cost can add up quickly.

When you choose to purchase the car at the end of the lease, you don’t have to pay those fees.

Dodge the hassle of car shopping
The search for a new vehicle can be long and stressful.

You avoid that by buying your car at the end of the lease.

You still may need to do some negotiating but it won’t be nearly as much as if you were starting from scratch.

Make the choice that’s right for you
Choosing to purchase your vehicle at the end of the lease is a choice that you should make only after carefully considering all your options.

If you decide to buy, you’ll enjoy benefits like the reassurance that the car has been cared for and the avoidance of mile-overage fees.

See the folks at Serra Acura for help!
Categories: New Inventory, Finance
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