NYS Lease Buyout PSA - It’s a 3 -4 month process

For many, like me, these crazy used car prices create an opportunity to make some money with early lease buyouts. My lender, like more and more these days, has a much higher price for 3rd party buyouts so I decided to do it myself. Well I had no idea the amount of time and work it required.

  1. Approx 30 days from when you send check to lender (in my case Ally but I assume most are similar) until you get the title, bill of sale and dmv paperwork

  2. 90 days for DMV to process the title change and send you a clean title. It’s right there on their website. 90 days!!! Also, 100% impossible to speak to NYS DMV Title Office as they don’t pick up phone.

My point is this is a 3-4 month process. So if you need the money for a new car be prepared to wait. If the market cools (not likely yet) the value will drop.


I live in NY and the process took approximately 2 months which includes buying it out from US Bank and then having the title transferred to my name by DMV.

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thanks for sharing. I have been waiting for NYS Titles for newly purchased vehicles for over 90 days. It’s October and apparently the DMV is still working on early July title application submissions. Slow indeed.

Took me 3-4 months just to buy out my lease with Ally. Kept calling but the wait on hold to speak with the buyout department was constantly 3-4 hours.

Crazy times, but I finally got the title last week.