Buying out your lease is usually worth it when the payoff quote, including fees and tax, is at or below what the same car sells for on the market, and you know the car's condition and history. You already know how the car was driven, which is a real advantage, but the residual value in the lease contract was set years ago and may be higher or lower than today's price. Get the written payoff, compare it with real listings, and check the title and recall steps before you sign.
Read the payoff quote
Ask the leasing company for a written payoff that lists the residual value, any purchase option fee, remaining payments, taxes and any dealer fees. Payoff quotes are often good only through a set date. A dealer may add a doc fee if it handles the buyout; ask if you can pay the leasing company directly. Our doc fee guide covers those fees.
Compare with the market
Look up recent prices for the same year, trim and miles. If the payoff is well above market, returning the car may cost less. If it is below, the buyout can save money even after fees. Our ex-lease car guide covers how lease returns appear on reports.
Financing the buyout
A lease buyout loan is priced like a used-car loan. Compare at least two lenders. The CFPB says to compare the APR, the loan amount, the term and the monthly payment, and notes that longer terms cost more interest, on its guide to comparing auto loan offers.
Condition you already know
You know about dents and repairs, but check the history report anyway. A repair you forgot, or one done before you leased, may show and affect resale. Run the VIN on the NHTSA recall lookup before you buy.
Title and registration
The leasing company releases the title to you or your new lender. Ask how long it takes, whether sales tax is due again in your state, and who files the registration. Our lien release guide covers the paperwork.
Excess-mile and wear fees
If you are well over the lease mileage limit or the car has damage you would be charged for at turn-in, a buyout can avoid those charges. Add the fees you would pay at return to the cost of walking away, then compare. Ask the leasing company for a written estimate of turn-in charges before you decide.
Third-party buyouts
Some leasing companies limit or ban buyouts by third-party dealers, and the rules have changed over time. If you want to sell the car to a dealer instead of keeping it, ask your leasing company in writing whether a third-party buyout is allowed and at what price. Get the answer before you agree to any deal.
Reading the history report
Read the title section first: any salvage, rebuilt, flood or lemon brand changes the value more than anything else. Then line up the odometer readings by date and look for gaps or drops. Check the number of owners and the states where the car was registered. An approved NMVTIS check adds insurer and salvage-yard records. Our odometer discrepancy guide explains odd mileage entries.
Paperwork to keep
Keep a copy of the buyer's order, the retail installment contract, the odometer statement, any Buyers Guide, the warranty paperwork and every payoff or lien letter in one folder. Take photos of the window sticker and the dash mileage on the day you sign. If a dispute comes up later, dated paperwork is what a lender, a dealer licensing agency or a court will ask for first. Ask for signed copies before you leave, not by mail later.
Compare the financing
Get a preapproval from a bank or credit union before you visit, so you can compare it with the dealer offer on the same term. Compare the APR, the amount financed and the total interest, and not just the monthly payment. The CFPB auto loan tools walk through what to read on an offer. Decide on add-ons separately; our GAP insurance guide covers when that one makes sense.
Checks before you sign
- Written payoff with good-through date.
- Market price for the same car.
- All fees and taxes listed.
- At least two loan quotes.
- History report and recall check.
- Clear title transfer path.
What the report costs
As of early November 2026 a CARFAX bought direct usually costs around $44.99, and AutoCheck sits a little lower. We are a licensed CARFAX and AutoCheck reseller, not affiliated with CARFAX, AutoCheck or Experian. Our guest price has been about $5.50 a report, about $4.50 for members, and about $6.75 for a CARFAX and AutoCheck bundle. Confirm the price at checkout, since it can change.
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