The Subaru Outback is a compact SUV that’s great for both everyday and off-road use. If you lease this model and end up falling in love with how it handles, is it possible to eventually buy out the lease? Learn how a Subaru Outback lease works and if a buyout is an option at Heritage Subaru Owings Mills.
What Is a Lease Buyout?
Most lease contracts have a buyout option at the end of the lease term, giving you the option to buy the vehicle at its current value with the payments made to that point counted as credit. You pay the remaining balance. Once you hand in the vehicle, the other options are to simply walk away or start a new lease with a new vehicle.
What About an Early Lease Buyout?
Is it possible to buy out the lease before the contract ends? This depends on the contract stipulation, which the dealer will review with you prior to signing. Some terms and conditions do allow you to buy out the lease contract at any time.
If the contract allows this, an early buyout price will be listed on the fine print. Typically, the price is equal to the vehicle’s residual value at the time of purchase. If you go this route, financing at the dealership may be available — ask our financial experts about your options!
What Are My Other Early Exit Options?
The contract may also allow the option to transfer the lease to another person. This person will become the bearer of the lease for its remaining duration and assume further payments. Keep in mind, though, you may be responsible for covering existing penalty fees if applicable, such as mileage and excessive wear.
Considering a Subaru Outback Lease in Owings Mills, MD?
Learn about our Subaru Outback lease offers at Heritage Subaru Owings Mills. Our dealers will walk you through details pertaining to the lease and buyout process, so you can drive off the lot with confidence.
