Solid Options for an Early Lease Buyout | Indianapolis, IN

At Don Hinds Ford, Inc., we have several solid options for an early lease buyout Indianapolis, IN. Leasing a car can be a great way to get a new one without committing to a long-term loan. When you lease a car, you agree to make monthly payments for a set period of time, typically two to four years. You can either return the car to the dealership or buy it outright at the end of your lease.

Now, sometimes, you reach the conclusion that the car you're currently leasing just isn't it anymore. Perhaps you don't drive as often anymore, and making monthly payments on a car you barely use isn't worth it. Now, you're weighing the pros and cons of an early lease buyout.

So, what is an early lease buyout? Basically, it's when you decide to end your lease early. Once you decide to cancel the lease early, several more options will open up. If you're considering an early lease buyout, there are a few things you need to know.

First, you'll need to determine the terms of your lender's early lease buyouts. You'll also need to consider whether you have the funds to pay off the remainder of your lease. Contact Don Hinds Ford's finance team to get all of the information you need to close the lease on your current car before the end of its term.

How to Determine if an Early Lease Buyout Indianapolis, IN is the Right Choice

Leasing a car can be a great option if you're looking for a new car but don't want to commit to a long-term financing plan. Of course, specific stipulations and conditions are tagged to it, like keeping it under a certain amount of miles and staying on top of its maintenance. However, it's a great choice for those who want the feeling of having a new car for a specific amount of time without actually shelling out the amount of money it would take to buy it outright.

If you're thinking about ending your lease early, you'll want to do some research first. First, you'll have to consider whether it's worth paying the remainder of the lease. You'll want to know the following information:

• Your monthly payments
• Time left on the lease
• Amount of additional lease-end fees
• Residual value (the cost to buy the vehicle at the end of the lease)

Once you know those crucial bits of information, you'll be able to make a more informed decision. For example, by combining the lease-end fees and the amount of remaining monthly payments, you can get a better idea of how much you'd have to pay to terminate the lease early. Once you determine that, you'll come to a crossroads of sorts. Will you buy the car or walk away after returning it to us?

This is where the process kinds a bit more exciting. You, more or less, have two options before you. It's up to you to decide which sounds like the best fit for your situation. Our team here at Don Hinds Ford can answer any questions you may have throughout the process, so you won't get lost on the way.

Road #1: Walk Away from the Car

The simplest option is sometimes the best one for some. Instead of buying it after terminating the lease, all you have to do is return it after paying what else you owe on it. After going through with an early lease buyout Indianapolis, IN, this will be a clean break with no other financial obligations.

As we mentioned before, the only thing you have to worry about with this option is how much you have to pay for terminating the lease early. Usually, it's just the sum of what you have yet to pay and whatever lease-end fees were part of the lease terms. If you're okay with the amount, you're more than welcome to end your lease early.

Contact Don Hinds Ford's finance team to learn the information you need to know about your current lease and how to end it. After you end your current lease, you're more than welcome to lease another vehicle. If you're planning on buying another vehicle altogether, our sales team will be more than happy to help you find a vehicle that fits your criteria. We have an extensive collection of new and used vehicles, so check out what we have in our online inventories today.

Road #2: Buy the Car

Other than walking away from the lease, you can also buy the car after paying off what remains of your lease. After paying off the fees and remaining lease amount, you only need to pay the difference between the lease amount and the value of the car. If you think it's worth it, you absolutely can permanently call that vehicle yours.

What you decide to do with the car after you buy it is completely up to you. After all, you're the owner now. It'll feel like nothing's changed other than the fact that you're not paying monthly payments anymore. If you're wondering where you should bring your car for service, we can still be your choice for service and parts, so you won't have to worry about it.

Sometimes, this is the better option, especially if you were closer to the end of the lease when you decided to terminate it. Rather than walking away from the vehicle altogether, you can bring it back home again. This might be the better option for those who fell in love with the vehicle after driving it.

Settle for an Early Lease Buyout Today

Look, we get it. Sometimes, it's not worth keeping the lease on a vehicle you're not using as often as you'd like. Or perhaps you're using it too much, and you realize that you won't be able to stay within the limitations in the lease terms by the end of the lease period. When that happens, you can consider terminating the lease early.

Call our finance team to ask for all of the necessary information for a lease buyout. Visit our dealership in Fishers to check out any other vehicles on our lot that might interest you. We'll help you with an early lease buyout Indianapolis, IN so that you can get the best out of the situation.

Indianapolis, Indiana Fun Facts:

• The Indy 500 started in 1911.
• One of the long-standing traditions is that the winner has to take a celebratory glass of milk at the finish line.
• It was started by 3-time winner Louis Meyer in the '30s.