If you want to buy out your lease when it’s over, it may be easier than you realize. You could always turn in the vehicle and start the leasing process over, but for many drivers, keeping the car is your best choice. For vehicle owners interested in keeping their vehicle, you will usually have to pay one large lump sum “balloon payment” at the end of your lease. Or, you can take that residual balloon payment and finance it like a regular auto loan.
At the end of your lease, it’s important to consider the benefits of keeping your vehicle. A new vehicle will likely cost you significantly more. This is why so many drivers choose to finance their end-of-lease balloon payment.