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How Do You Buy A Leased Car?

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How Do You Buy A Leased Car?

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When you lease a car, the end of the lease term requires the return of the leased vehicle. At this point, there’s an inspection of the vehicle to assess its condition and mileage. Any damage to the vehicle determined to be above and beyond normal wear and tear will result in a fee. You will have to pay this when you turn over the vehicle, unless you decide to buy it. If you like the car and wish to keep it, these fees will be waived. Step 1 Check your original lease agreement to determine the residual value of the car. This is the price you will have to pay to buy the car after all required lease payments have been made. If you want to buy the car early, then this figure will be adjusted to reflect missing payments and any early lease-termination fees that may be in the contract. Step 2 Research the Kelley Blue Book value of your car (see Resources), so you know in advance if the buyout price is an attractive one. Be honest in your assessment of the condition of your vehicle so you can

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