What Is a Lease Buyout?

Finance And Calculations Paperwork

Have you leased one of Cactus Jack's Auto’s used cars and really love driving it in Mesa — so much that you want to buy it? You can make it your own with a car lease buyout! What is a lease buyout? Essentially, it’s when you outright purchase a vehicle you’ve leased. There are two ways to do a car lease buyout, and our finance team is here to walk you through the basics of how a lease buyout works. 

Car Lease Buyout at the End of the Lease

We see this option most often because it gives drivers the full term of their lease to decide whether or not they want to keep the car for the Surprise commutes. How does this lease buyout work? You’ll pay the amount agreed upon when you originally signed the lease. This choice will work for you if you’re happy with the vehicle, haven’t needed any repairs, and you’re able to get a good loan rate when you apply for financing

Early Lease Buyout

The lease buyout definition doesn’t limit you to waiting until the end of your lease to purchase your vehicle outright. There are some occasions where a car lease buyout before the end of the lease is a good deal. Make sure your lease terms allow this. If they do, next you’ll want to make sure the car is worth the long-term investment. People most often consider this kind of car lease buyout if they’ve gone over the mileage limits of their lease in order to avoid penalty fees. What you’ll pay will be determined by the lease-end residual value on the lease contract plus the amount you still owe on the lease. You might have to pay this difference.

Get More Answers About Car Lease Buyouts with Cactus Jack's Auto

Now that you know the basics of a lease buyout definition, contact Cactus Jack's Auto for more information. We’re here to answer any questions, especially if you’re trying to decide between leasing and buying and want all the information about what a lease entails. Check out all of our car-buying tips and tricks so you have the information to make an informed decision about the best way to get your next car in Glendale.

More from Cactus Jack's Auto

  • What to Look for in a Vehicle History Report

    If you’ve been on the hunt for a used vehicle that you can depend on, you know how easy it is to end up in the wrong car! Although there are many benefits to buying used, those who fail to do their research can wind up behind the wheel of a real junker. Knowing what…

  • How to Remove Stickers from a Car

    Maintaining a used car is no easy task, and drivers from all walks of life may need to learn how to remove stickers from a car at one point or another. Whether you’re cleaning up after a previous owner or moving things around to make a better first impression, the process can be easy and…

  • Popular Hiking Trails Around Tucson

    When you visit a state as gorgeous as Arizona, you owe it to yourself to explore the scenery! And while there are tons of wonderful parks in Mesa and landmarks in Phoenix, hiking in Tucson is an experience like no other. What are the most popular hiking trails around Tucson? The folks at Cactus Jacks…

Saved Vehicles


You don't have any saved vehicles!

Look for this link on your favorites:


Once you've saved some vehicles, you can view them here at any time.

Contact Us

(602) 443-5225

Call Now

2440 W Camelback • Phoenix, AZ 85015

Get Directions

Today's Hours:

Open Today! Sales: 9am-7pm

Cactus Jack's Auto 33.5101018, -112.1115231.