The Lease End Minute

Financing a lease buyout? The three things lenders usually weigh, and what to do before you apply.

Key takeaways:

• Lenders weigh credit, income and debts, and the car's value.
• Check your free credit reports for mistakes first.
• Compare offers on total cost, not just the payment.

Transcript: https://leaseendlive.com/lease-end-minute/what-lenders-look-at/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.

After a lease buyout the title has to move to you or your lender. What to ask so the paperwork doesn't stall.

Key takeaways:

• The title moves from the leasing company to you or your lender.
• How and how fast depends on your state and leasing company.
• Keep copies until the new title is done.

Transcript: https://leaseendlive.com/lease-end-minute/title-and-registration-after-a-buyout/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.

Just bought out your lease? Why you should call your insurance company, and what to ask about gap coverage.

Key takeaways:

• Your policy listed the leasing company; that changes after a buyout.
• A lender usually needs to be listed if you financed.
• Lease gap coverage typically ends with the lease.

Transcript: https://leaseendlive.com/lease-end-minute/update-your-insurance/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.

Once you buy out your lease, you own a used car. Why an independent inspection first is worth it.

Key takeaways:

• After a buyout, repairs are on you.
• An independent mechanic can spot what you've learned to live with.
• Add repair costs to the buyout before comparing.

Transcript: https://leaseendlive.com/lease-end-minute/inspect-before-you-buy/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.

The leasing company owns the car and sets the buyout rules. Why your first call should go to them, not the dealer.

Key takeaways:

• The leasing company is the name on your statement.
• Ask for the payoff, whether you can buy directly, and the paperwork.
• Go to the source before the dealership.

Transcript: https://leaseendlive.com/lease-end-minute/call-the-leasing-company-first/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.

What if your car is worth less than the buyout price? An honest look at when buying still makes sense.

Key takeaways:

• Negative equity means paying more than market value to buy.
• It can still make sense if you'll keep the car for years.
• If you'd sell soon, returning is often cleaner.

Transcript: https://leaseendlive.com/lease-end-minute/negative-equity-at-lease-end/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.

Dents, curbed wheels, worn tires. How buying the car compares with paying turn-in damage charges.

Key takeaways:

• Damage beyond normal wear can mean charges at turn-in.
• Buying usually skips the turn-in inspection.
• Compare buying as is, paying charges, and repairing first.

Transcript: https://leaseendlive.com/lease-end-minute/dreading-the-turn-in-inspection/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.

Can you buy your leased car before the lease ends? Often yes. How an early payoff works and when it makes sense.

Key takeaways:

• An early buyout usually covers remaining payments plus the residual.
• Ask for an early payoff quote in writing.
• Buy early only if the numbers beat the car's value.

Transcript: https://leaseendlive.com/lease-end-minute/buying-your-lease-early/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.

Buying out your lease usually means a tax on the purchase, and it varies a lot by state. Here's what to ask.

Key takeaways:

• Most states tax the purchase in some form.
• How it's figured varies by state.
• Get the tax in writing before you sign.

Transcript: https://leaseendlive.com/lease-end-minute/sales-tax-on-a-lease-buyout/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.

A small line on your lease that people skip: the fee many leases charge if you buy the car, and how to plan for it.

Key takeaways:

• Many leases charge a fee to buy the car, set in the contract.
• It's separate from the residual value.
• Ask for it on your payoff quote so you compare the full number.

Transcript: https://leaseendlive.com/lease-end-minute/the-purchase-option-fee/

Learn more about lease buyout financing at championautofinance.com.

Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.