Should You Buy Out Your Car Lease?
Should You Buy Out Your Car Lease?

Should You Buy Out Your Car Lease?

The current car supply shortage brought upon by the Coronavirus has caused supply chain issues for both car dealers and automotive manufacturers across the US, which has trickled down to potential car buyers. New car prices across the board in New Jersey have risen, resulting in used car prices inflating as well. As a result, many current car shoppers who are leasing a car are now wondering if they should buy out their current car lease or wait for it to end. Many people who lease a car now may actually be able to make money on their car lease if they buy themselves out of their lease. Here are a few things you should know about buying out your current car lease in New Jersey.

Firstly, you will need to request your lease buy out from your car brand’s bank. For example Toyota uses Toyota Financial Services. More in demand and popular vehicles, like the 2021 Jeep Grand Cherokee are great cars to look into buying out the lease off. If your leased car has not had a big run up in value, you can simply finish the lease and drive away in a new car.

The responsible thing to do is to compare the valuations you get for your car to the lease buyout price. If the valuation of the car is higher than your lease buy out price, than you stand to profit off of your car lease buy out. A lease buy out price is generally the total of the residual value in the contract plus the payments you still owe and any other end of lease fees you may incur. Your leasing company can always quote you the buyout total and walk your through the process. Vantage Auto Group offers a convenient early lease exit program.

When it comes to buying a new car, you can also use your current lease as a trade in. The higher the value of your current leased car, the more money will go towards your new car, wether it be a new lease or a car you choose to finance. The best time for buying a new car is typically at the end of the month, year, or quarter. This occurs when dealers and manufacturers have a quota to hit, and thus give more incentives in order to move more inventory

At The Vantage Auto Group, we save you time, money and peace of mind when it comes to Buying your New Car!

No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

There are many places to lease or purchase your next vehicle.  The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!

Get Started Today With Your Personalized Car Quote from Vantage Auto Group!

Good credit, Bad Credit, or looking to get an approval, CONTACT US Today!  We work directly with multiple lenders to find the lowest possible lease rate on a new car lease. Come banks will even help us offer short term lease as short as 12 months if not ready to commit to a 2 or 3 year lease. We can even help you get out of your current car with our swapalease lease transfer program. when using our swapalease program, you will no longer be responsible for your current car.

Price Reflects TIER 1 Credit Approval. Prices are for new lease vehicles only. Images are for Display purposes only. Price Excludes local taxes, acquisition fee & DMV/title. Pricing, lease term, and miles per year may vary. All Incentives are Applied For Qualified Customers including Loyalty Rebate, Conquest Rebate, VPP Rebates, College Graduation Rebates, and Regional Rebates.

No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

There are many places to lease or purchase your next vehicle.  The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!

 

At Vantage Auto Group, we save you time, money and peace of mind! No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps. With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle.

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