Buy out or return a lease?

Ask the Hackrs
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1

Hi, Lease experts. I have an expiring lease and wonder if I should buy it out or just return it.

For buy-out, the offer looks decent. But is there any additional cost? Do I need to pay sales tax? How about registration? It’s already under my name.

For return, what would be the cost other than deposition fee? The mileage is within limit. Could I know the wear fee right after the inspection? So that I can make the decision based on these numbers.

Thanks!

2

OK. Now I know more about the buy-out based on my friend’s experience. Can anyone further share the fee of the return?

  1. Purchase option fee
  2. Inspection fee
  3. Tax
  4. Doc fee, electronic vehicle registration, registration/transfer/titling fee
3

Purchase price is in your contract. Government fee is extra.
Return a car should be free in normal case. No inspection fee.

4

No, purchase price is not on the contract.

5

Purchase is the residue value in contract. you will pay tax, license, etc. just like buy a new car.

2 Likes
7

Not free if switching brands. You will be on the hook for disposition Fee in that case.

2 Likes
8

No point saying this without saying the numbers