Can I Buy My Lease Car?
Getting to the end of your lease soon and not wanting to give back your lease car quite yet? We've put together this guide so that you can look at some of the options available to you if you want to buy your lease car.
After driving your new lease car for some time, it is quite understandable that you fall in love with it. So, you may be sat wondering if it is possible to buy your lease car when the contract comes to an end. Buying your lease car is not an option offered at the start of your lease nor can it be written into your contract as an agreement. However, it is an option that is sometimes available, depending on the funder and the circumstances of the car.
What Happens at The End of My Lease?
When your car leasing contract term is up, the process is simple. Your car is collected from your home, and you are free to lease another vehicle of your choosing. If you want to learn more about the end of your contract you can check out our guide on the subject.
If you’d rather not give up the vehicle quite yet, there are sometimes other options available to you. One popular option is to try and extend the lease by a certain amount of time – for this, you just need to get in contact with your finance company and see if the option is available to you.
If you are insistent upon trying to buy the vehicle, there is nothing stopping you from asking the finance company for the option. They may give you a price through themselves or direct you to the auction house which will have current ownership of the vehicle. They don’t have to sell the car to you but there is nothing stopping you from asking the question!
Should I Buy My Lease Car?
Car leasing has a lot of benefits for you when it comes to the end of the agreement. You can simply hand your keys back and move on to another car with no need to worry about depreciation or selling the car on. You can lease another brand-new car right away with the latest technology and safety features. For a more detailed look at the benefits of car leasing, check out our car leasing guide!
Any Questions?
If you have any questions about being able to buy your lease car, you can get in contact with the team, and we can see if we can help! Give us a call at 0345 350 3776, email us at enquiries@willowleasing.com or send us a message via our online chat service!