A lease buyout loan gives you the money to buy your currently leased car, either at the end or before the end of your lease, instead of returning it. Doing so helps you to avoid penalty fees for wear and tear or exceeding miles, and means you have a vehicle you already know. But, like any other purchase, there are questions you should answer before deciding to buy.
Things to consider when financing a lease buyout:
- How much has the value depreciated?
- What is the car’s market value?
- How much are your end of lease fees?
- Are there any purchasing fees?
*Private party loans must be closed in person at a Wells Fargo branch. Find a location near you.
Customers who qualified for our lowest APRs have an excellent credit history and a loan amount that’s greater than $22,000 and less than 85% of the car’s value. The APR includes a relationship discount of 0.25%.