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How long does the lease-end process take?
There are a few moving pieces involved with ending a car lease, and the total time to process your transaction can vary depending on who your auto lender is and what state you live in. However, it usually takes less than 15 minutes to get started - after that, our expert advisors take over and expedite the entire process for you.
Save Time Shopping
Save Time Shopping
Save Time Shopping
There are 3 ways you can end a car lease. You can turn the car back in to the dealership, sell the car , or buy and keep the car. If your lease is bought out, you're taking either the second or third option (selling the car, or buying it for yourself).
Your leased car has a pre-determined residual value (the value of the car at the end of the lease). This value was established in your contract when you first agreed to lease, and it helps determine the buyout amount (the amount it would cost to purchase the vehicle so the manufacturer no longer holds the title). Every lender has their own specific way of calculating buyout amount, but generally speaking, it's more or less equal to the sum of the residual value plus any applicable taxes and fees.
If you're leasing a car and decide that you want to keep it, you can buy out your lease, meaning you're purchasing the car and putting it in your name. If you decide you can make some money off your lease and want to sell it, someone else may be able to purchase the car and put it in their name. Either way, the car's new owner will have to pay the buyout amount, either up front or through financing, in order to transfer ownership of the car from the manufacturer.
No Games and Tricks
There are ethical dealerships and their are deceitful dealerships. Part of the frustration of shopping for a car is having to deal with the Games and Tricks from deceitful dealerships. No one enjoys being taken advantage of whether that person can buy the same car in every color or the person who have saved up for the down payment. With MK, we eliminated the whole negotiating (haggling) process by providing you with the best savings and payments upfront. You will have the best car buying experience.
No Pressure
At MK, we do not believe in high pressure selling. The dealership does this because when a customer leaves the dealership, he/she may compare different brands and never return. There is all the incentive to pressure the customer to buy on the spot which oftentimes, leads to buyer's remorse. With MK, we encourage you to consider different brands and models as we offer many brands to choose from. We provide you the best experience so we can look forward to your return and referred business.
Trusted Source
We will provide you unbiased information and opinion on the brands and models that you are considering. Contrary to the salesman at the dealership who relies on you buying their brand of cars or aged inventory, we don't have an interest in any brand or model. Our interest is for you to purchase the right car for your driving needs and lifestyle. We will also provide you our recommendation whether to lease, finance, or buy cash base on your driving projection. Consider MK as your Car Doctor, a trusted source for car questions.
Transparent Communication
You can have the assurance of dealing with the right company. We will not fiddle with the numbers as the dealership does when presenting and haggling over the pricing and payments. You will not get the bogus fees, additional accessories added, or the "I forget to include" fees when you work with MK. There are no surprise fees when you are ready to sign the paperwork. The deal we discuss will be the deal you will get.
Additional Information
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