Buy Lease Return Vehicles Review

Buy Lease Return Vehicles Review

Buying a lease return vehicle—often called an "off-lease" car—can be a savvy way to get a well-maintained, relatively new vehicle at a used-car price. These cars are typically returned to dealerships after a 2- to 3-year lease term and often have lower mileage and strictly followed maintenance schedules. Why Buy a Lease Return?

: If you are currently leasing, you can choose a lease buyout at the end of your term. This is often the best deal if the car's market value is higher than the "residual value" (buyout price) stated in your original contract. Things to Consider

: Since most leases last only 36 months, lease returns often feature the latest safety technology and infotainment systems found in current models.

: If you are considering leasing a new car instead of buying a return, experts like those featured on Instagram suggest that a "good" lease deal should have a monthly payment that is 1.25% to 1.5% of the car's total MSRP.

: If local dealers pass on the car, it typically goes to a regional auction where independent used car dealers or specialized "off-lease" retailers buy them to sell to the public.

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