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How the Lease End Process Works

Picture of a man looking confused, with the text "What happens when I work with Lease End?"

If you’re reading this article, chances are you have a car lease ending soon. Maybe you’ve been considering a lease buyout for a while, or maybe you’re exploring the idea for the very first time. You need info, you want help, but you’re wondering, is Lease End legit? 

We get it. You have a lot of big choices to make when ending your lease, and a lot of people telling you which ones are best. 

We’re here to tell you that we are, in fact, legit—and don’t just take it from us. We ended over 7,700 leases in 2023 alone, and you can read our reviews on the Better Business Bureau® (we’ve got an A+ rating) or Trustpilot for a good idea of how much people like us. 

We’re also here to tell you more about what happens when you work with Lease End. We pride ourselves on our transparent and easy process, and, well, it wouldn’t be transparent if we didn’t tell you all about it. 

What can Lease End do for me? 

Lease End’s whole deal is making lease buyouts accessible and easy for drivers. What is a lease buyout? Very simply put, a lease buyout allows a lessee (the driver) to purchase and own their leased car for good, for a mostly-predetermined price.  

Lease End 1) walks drivers through the buyout process from start to finish and 2) facilitates lease buyout loans with trusted lenders to cover the costs. 

Sound good already? If you're on board with that and ready to get going, you can enter your license plate or VIN in the box below to get started right away. If you want to read on first, no worries - you'll be able to do it at the end of this article, too.

Enter Your License Plate to Get Started.

 

Why was Lease End created? 

We want to share what we know, help drivers navigate a tumultuous car market, and empower people to continue a good investment into a car they already know (and love). A big aspect of our mission is facilitating hassle-free transactions and straightforward, competitive loans. Managing a lease can be time-consuming enough, and we want to take the question of your next car off your plate by helping you keep the one you already have. 

Used car prices have been rising in recent years and show no signs of stopping. Rates are up, and new cars are getting more and more expensive. Now, more than ever, drivers need to make strategic, well-researched moves when looking for a car. 

Picture of someone's hands, holding a toy car. Text says "Buying Your Leased Car."

What happens when I buy out with Lease End? 

Buying out your car lease with Lease End can start one of two ways – online, or over the phone. You’ll get the same results, quality care, and dedication either way. The difference really comes down to how much direct assistance you want from our advisors. 

Step 1: Getting Started 

Whether you start online or over the phone, all you need is your license plate or Vehicle Identification Number (VIN). Then we’ll ask for some more information about your vehicle, such as the make, model, trim, odometer reading, and any specifications. We’ll grab your contact information and lienholder name at this stage, too. 

If you have any questions or want to talk through the process before jumping in, any member of our advisor team will be happy to start there if you give us a call. 

Step 2: Finding Your Buyout Amount   

To prepare for your buyout, we’ll need to confirm the buyout (or payoff) price for your vehicle. This price is based on the residual value of your leased car, but there are a few other variables that go into the final number. Every manufacturer has their own methods of calculation. Yes, this is frustrating. Luckily, we’re happy to help you with it. 

If you start online, you’ll have the option to call your lienholder yourself – with specific instructions provided – or you can request that we call in for you. If you start over the phone, your advisor will make the call for you (but keep in mind that you may need to stay on the line if required by the lender). 

Different lienholders ask for different information to verify your identity and confirm your buyout amount, but it’ll typically include things like your lease account number, Social Security number, or car’s VIN. If Lease End is confirming your buyout amount for you, your advisor will ask for this information to call on your behalf. 

Step 3: Monthly Payment Preview 

Once we have your buyout amount, we’ll talk lease buyout loans. 

With the information we have about you & your lease, we’ll provide you with an estimate for your new monthly payment. This is based on the total amount financed for your buyout amount, any taxes or fees, and any extended coverage you might add. (More on that below.) 

If you’re working online, you’ll be able to use our estimate calculator before we walk you through the credit application. You can play around with options like loan term length or different down payments (not required, by the way) to find a combination that works for you. If you’ve called in, your advisor will discuss your options with you over the phone. 

Step 4: Credit Application & Account Creation 

 If you’re happy with your estimate and ready to move on, your next step will be a credit application. We’ll handle the paperwork and ‘shopping around’ for a good rate, but you’ll need to give us some information (and your approval) first. This includes typical asks for a credit app, like your address and residential info, employment status, Social Security number, and birthday. (FYI, security and privacy are top concerns for us—everything is processed using industry-standard SSL encryption.) If you want a co-buyer on the loan, their information will be entered at this stage, too.  

After your application is complete, you’ll create an account with us to track your buyout progress. 

Step 5: Review Coverage Options 

Once your loan application is approved, a lease-end advisor will provide you with a package preview covering your new monthly payment, loan info, and coverage offers. (We’ll also let you know when your first payment would be due.) 

We offer both extended warranty (a Vehicle Service Contract, or VSC) and Guaranteed Asset Protection (GAP) coverage to our drivers. You can get one or the other, or a combination of both. Not sure where to start? Your advisor will review your options with you and answer any questions you have.

Step 6: Paperwork & eSign 

Once you’ve decided on your coverage options and are good-to-go with your monthly payments, we’ll let you know which documents you’ll need to provide to complete your buyout. We’ll arrange your title transfer (and registration in some states), establish whether you want to keep your license plates or get new ones, and verify your driver’s license and insurance.  

Then, we’ll get started on your paperwork and send it to you. Generally, you’ll be able to sign everything online, but some states do require ‘wet signatures’ on certain physical documents. If this applies to you, we’ll overnight all the paperwork to you at no charge so you can get your buyout finalized ASAP.  

Step 7: Titling & Registration 

At this point, you get to relax even harder than before – and we keep working hard to finalize your buyout.  

We pride ourselves on being the fastest lease-end experts in the industry. The length of time it takes to get through this step can vary depending on which state you live in and their requirements, but your advisor will give you a heads up when you start this stage. Once we confirm that everything is good to go, we’ll mail your plates to you and reach out to confirm that your buyout is all set and the car is yours to keep driving.  

Un-Lease Your Car

So, that’s that – congrats on making it through.  

As you can see, a lot goes in to a lease buyout. Manufacturers and lienholders all have their own policies & requirements; lender rates need to be compared; signature and titling needs vary by state. In short, it’s complicated.  

Instead of juggling it all yourself, Lease End wants to help you keep the car you already know and love by doing all the heavy lifting. Need your payoff info? We’ll wait on hold for you and conference you in when an actual agent is on the line. Want extended coverage on your car so you can keep that off your plate? We’ll set you up. No time to waste standing in line at the DMV? Leave the boring stuff to us. We’ll do it – for you.  

To learn more, check us out at leaseend.com or read more on our blog. Want to chat with an advisor? Give us a call at (888) 307-5197. Or, if you’re just ready to get started, enter your VIN or license plate number below.  

 

Enter Your License Plate to Get Started.

 

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