Lease Buyout Fees - Florida

Asking the experts here. First time buying out a lease.

A few questions:

  1. Is the buyout handled through the dealership or the bank directly if it’s different than the dealerships bank?

  2. What fees are associated with the buyout aside from taxes? I’m seeing electronic filing fee, dealer fee, tag/title transfer.

  3. Before I complete the buyout paperwork, should I be aware of the interest rate I will be paying?

Thanks in advance!

Which brand is the mystery car? That will affect the answer



Honda financed through US Bank

You should request a payoff from US Bank, and ask when you do.

In FL, if the lender doesn’t have a physical presence anywhere in the state, it usually needs to be processed at a dealership, who can add additional fees (inspection, doc fee, etc). The recent exceptions to this were captives, which US Bank isn’t.

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Are you buying out the lease personally or having a dealer buy it out? If you are buying it personally you should be able to get the buyout and write a check directly to US Bank and get the title in a week to a month. Then go title it in your name and pay tax etc. if you are selling it direct to a dealer, it’s a whole different ball game.