Keep it or not? The real upsides and downsides of buying your lease
A quick explainer on the real trade-offs of a lease buyout — keeping a known car and its equity vs. owning repairs, and the payoff-vs-market-value tiebreaker. From Champion Auto Finance.
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Transcript
Should you buy out your lease? Here are the real pros and cons in about 30 seconds. The pros, you keep a car you know, you pay the fixed residual price and any value above it is yours.
The cons, you own future repairs and if the residual is set higher than the car's value, you would overpay. The tiebreaker is simple. Compare the buyout price to the car's market value and let the numbers decide.
Champion Auto Finance finances lease buyouts with clear terms across New Jersey, New York and Pennsylvania. Learn more at championautofinance.com
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