Your own car or someone else's: the buyout vs used-car decision
How to decide between buying out your lease and financing a different used car by comparing the payoff to market value.
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Transcript
Should you buy out your lease or finance a different used car? Here's how to think about it in under a minute. Buying out your lease means keeping a car you already know, its history and condition, with no surprises from someone else's used vehicle.
Compare your payoff to what a similar used car would cost. If your buyout price is at or below market value, keeping yours often wins. And either way, the financing is the same kind of auto loan.
So the real decision comes down to the car and the price. Champion Auto Finance helps you finance whichever makes sense across New Jersey, New York and Pennsylvania. Learn more at championautofinance.com.
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Tell us about your vehicle and payoff amount. We’ll work to get you the best rate possible for your credit situation — from application to funding.
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Tell us the car and the approximate payoff — we’ll come back with a realistic financing picture within one business day. No obligation.
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