If you’re reading this article, chances are you have a car lease that’s ending soon. You want help, but you might be wondering, Is Lease End legit?
We get it. You have a lot of 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. Read one of our Better Business Bureau® reviews that contribute to our A+ rating here.
We’re also here to tell you more about what happens when you decide to 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.
Who was Lease End created for?
Lease End was created to serve all car lease owners.
Zander, one of our founders, likes to remind people that it’s never too soon to start thinking about your lease-end options (especially in the current used-car market). However, you don’t need to rely on your dealership to end your lease, and you don’t need to wait until your lease-end date to do something about it.
Dealerships purposefully keep the lease-end process murky and inaccessible. They’ll give consumers inaccurate or just plain false information to keep them tethered to the dealership, or even intentionally fail to disclose things like the vehicle’s equity or fair resale value at lease-end.
We’re fed up with these practices, and we’re pushing back by facilitating hassle-free, cost-effective, and transparent lease-end services for all car lease owners.
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.
What can Lease End do for me?
Simply put, Lease End exists to educate consumers about their lease-end options and empower them with the tech and resources to make the best decisions possible. And if your lease-end date is approaching fast, don’t sweat it – Lease End can help you even up to the last day of your lease.
So what happens when I end my car lease with Lease End?
No matter which path you take, your time 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 between starting online and starting over the phone really just comes down to how much direct assistance you want from our advisors.
What if I want to buy out my car lease?
If you want to buy out your lease, here’s how things will go.
Starting Out: If you start online, you’ll just need to enter your VIN or license plate number to get going. Then, we’ll ask for some information about your vehicle such as the make, model, and any specifications.
If you call in, expect our advisors to jump right into the process. They’ll ask you some questions that help them recommend which lease-end option is best for you (if you haven’t already decided) and prepare to confirm your buyout amount.
Finding Your Buyout Amount: Next step is confirming the buyout (or payoff) amount for your vehicle. The information we need at this stage varies depending on who your lender is, but usually you’ll provide your lease account number, Social Security number, or car’s VIN.
If you start online, you’ll have the option to call your lender to confirm your buyout amount yourself (don’t worry, we provide instructions) or you can request that we call in for you. If you start over the phone, your advisor will get this information for you.
Monthly Payment Preview: Once we have your buyout amount, we’ll talk loans.
With the information we have about your lease, we come up with a range your monthly payment will likely fall under. This is calculated based on your buyout amount and factors in the coverage you might op-in for later in the process, plus any taxes or fees.
When we calculate your estimated monthly payment, we make it a priority to try and keep your new monthly payment amount at or lower than your current one, all while adding value to your current vehicle coverage (more on that later). The actual monthly amount may vary based on things like length of loan term, credit score, and the coverage you select, but when it comes down to it, we’re all about getting you a good deal.
If you’re working through the process online, you’ll be able to use our loan calculator before we walk you through a credit application. Our calculator lets you play around with options like length of loan term or amount of down payment to find a combination that works for you. If you’re not doing this online, your advisor will call to discuss your options with you.
Credit App: If you’re happy with the payment range provided, we’ll submit a credit application for your buyout (no need to secure a loan all on your own). We might need a little more information from you at this stage in order to complete your credit application. For example, if we didn’t get your address before, we’ll need it now, as it’s a standard piece of information for credit applications. Once you’re done, we’ll submit it for approval.
To note – as part of our refinancing process, we pay off your old lease. That account is retired, and your new loan is under a new account.
Coverage Options: Once your loan application is approved, you’ll be able to review your payment and coverage options to make your final decision.
We offer both extended warranty (a vehicle service contract, or VSC) and Guaranteed Asset Protection (GAP) coverage – you can get one or the other, or a combination of both. We’ll also let you know when your first payment will be due.
Like we mentioned earlier, when we offer you coverage options, we’re all about adding value. Maybe your current coverage factors in 12,000/year, but you drive 20,000/year. We don’t think it would make a lot of sense to offer you coverage that doesn’t match how you drive – so, we’ll ‘shop around’ and find you customizable coverage that’s perfect for your current driving habits (and that changes your monthly payment amount as little as possible).
Paperwork: We know – everyone’s favorite. Luckily, we use eSign. Once you’ve decided on your coverage options and are good-to-go with your monthly payments, we’ll email you the paperwork you need, and you’ll be able to sign everything online.
Titling & Registration: At this point, you get to relax – and we keep working hard to take care of all your title and registration paperwork for you. If you haven’t sent pictures of your driver’s license and proof of insurance to us yet, you’ll need to at this point.
The length of time it takes to get through this step can vary – especially depending on which state you live in and their requirements. (This is the stage where, in most cases, we can go to the DMV for you, and we all know how that goes.) 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 at that point – you’re on your way to owning your previously-leased car!
To get started, click here, or enter your license plate or VIN in the box below. You can also give us a call at (844) 902-2843 if you'd prefer to speak with someone over the phone.
For more information, you can read over our FAQs.