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But in todays market, buying out your lease instead of returning it mightsave you money.
Here are five reasons buying out your lease instead of getting a new car could be asmart financial move.
This is particularly so if the buyout price is below current market value.
Lease buyouts give drivers more control at a time when every dollar counts, said Cook.
Resale Value Can Work in Your Favor
Some vehicles hold their value exceptionally well.
Holding on to one of these could mean a strong resale price down the road.
A lease buyout isnt always the best financial decision for everyone.
If the lease-end buyout price is higher than the cars current market value, you could end up overpaying.
Financing costs can also add up, especially if you dont qualify for a competitive interest rate.
When done strategically, a lease buyout can be a smart financial move.
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