Edmunds Answers



  • knowledgepower 01/31/13 1:03 pm PST

    The one advantage you have when doing a buyout of your leased vehicle is you know what you're getting. The purchase will be considered a used vehicle purchase and at that time you'll be presented with payments and term as any used purchase. You will be charged tax and any dealer fees, I did a few of these as a Fleet Manager and customers were pretty happy. There may be those who discourage you from this but if you need another vehicle it's not a bad step. Do compare what another 3 year lease would be vs. a 60 month purchase of your lease turn in and decide. If you do continue with the purchase buy no warranties at all except GAP insurance and that's it reagardless of what you're told.


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