With inventory shortages, low automaker incentives, and substantial market changes, new car lease prices are skyrocketing. If there’s ever a perfect time to buy out your current Nissan lease, it’s now.
Before turning in your expired Nissan lease deal, there are quite a few profitable options that you might want to consider. One of these options is converting your lease to finance through the buyout option on your lease contract. This makes sense, especially if you’ve kept the car in good shape or would love to retain your Nissan after the lease. However, if the reverse is the case, buying out your lease could still be your most excellent financial decision.
Depending on your contract, a buyout option allows you to purchase your leased car for a stipulated price called the buyout price.
A buyout price is the estimated resale value of your Nissan by the end of the lease duration and is determined before the start of the lease. In most cases, the buyout price is lower than the vehicle’s market value at the end of the lease, and you get to save thousands of dollars while paying to retain your car. Just like when buying a new car, you can choose to pay cash or finance the transaction through loans.
Here’s why you should consider purchasing your Nissan lease
Knowing a car’s history is a big advantage used car buyers don’t have. However, when you are buying your lease, you know everything about the car, and you won’t need to worry about the vehicle’s previous escapades. It’s even better when you have a robust maintenance culture, and your vehicle is in excellent condition.
If you want to purchase a used car but you’ve greatly exceeded your current lease’s mileage limit, or maybe your lease has amassed wear and tear, buying it will help you avoid extra charges. However, you have to do the math to know if returning the car to your dealership, paying the penalties, and buying another used car are more cost-effective before you make the decision. You can still opt for a new lease deal if you wish.
As demand in the used car market continues to increase, purchasing your lease is undoubtedly a smart option. If your lease buyout price is lower than the vehicle’s worth in the market, you can buy out your lease from the dealership, resell it at the current market value, and pocket the difference.
If you are looking to retain your existing lease, VIP Auto Lease assures you of mouthwatering rates and a seamless transaction process. We also collaborate with major auto financing companies to ensure you get the best deals.
Contact us now at VIP Auto Lease, 1204 Hylan Blvd, Staten Island, NY 10305. 718-477-7888 https://viplease.com/