If you can buy your leased vehicle, you’re in the best possible spot in this challenging environment for buying cars.
If you leased a car in pre-pandemic times and you’re just a few months shy of the last payment, start here before you decide if a lease buyback makes sense or if you should turn in the keys.
When checking, ask about any associated fees or an early termination charge. Contact the lessor directly to determine exactly what you will owe if you have any doubts. Now, the math is simple: is your car worth more than the buyout? If so, it may make a lot of sense to buy it. You may have heard that used car values are the highest they’ve ever been. Beginning in mid-2021, used car values rose rapidly due to limited new cars on dealership lots. According to a Cox Automotive analysis, by the end of 2021, average listing prices topped $27,000 for the first time.
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