Buy out A lease

Your auto lease is almost up, but you love your car. We offer low rates for lease buyout financing and terms to fit your needs. 

 

Buying a leased car can be a great way to stay in the vehicle you love and get a great deal, too. We can help make it happen.

Low rates

Make lease buyouts even more affordable.

Loan terms to fit your needs

Choose a loan length from 1 to 120 months.

4.8 out of 5 stars

One of Pennsylvania’s top auto lenders.*

Quick, simple application

Most applicants get a decision quickly.

What will your lease buyout payment be? Get an estimate with our car loan calculator. 

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The Car Lease Buyout Process 

Our members rave about our vehicle financing. Apply today and find out why. Here’s how:

Contact your leaseholder.

Ask your leasing bank’s representative or dealership for the amount needed to buy out the remainder of your lease. 

Apply online or over the phone.

Gather the information you’ll need, including the amount to buy out the remainder of your lease.

Get loan approval.

You’ll receive your loan decision fast in most situations – often within minutes and usually the same day.

Finalize the sale.

We’ll deliver an AutoCheck in the amount of your payoff. Your leaseholder will transfer the title to us until you’ve repaid your purchase loan. You’ll be responsible for registering your car at the department of motor vehicles (DMV) in your state. 

Auto Loan Rates

Valid as of 12/16/2018 2:58 AM EST
Term APR* Description
1-36 Months 2.49% New / Used Auto
37-60 Months 3.49% New / Used Auto
61-84 Months 3.99% New / Used Auto
85-120 Months 8.74% New / Used Auto

* APR denotes Annual Percentage Rate

*Rates reflect a .25% APR reduction for Automatic Payment Service and loan amounts up to 100% of the retail value of the vehicle. Your rate will increase if you discontinue Automatic Payment Service. PSECU will charge an additional 2% to the current interest rate when financing a vehicle for more than 100% and up to 120% of the retail value, and an additional 3% to the current interest rate when financing a vehicle for more than 120% and up to 130% of the retail value. PSECU will only finance up to 100% of the vehicle value for Refinance purchase types. The Manufacturer's Suggested Retail Price determines new vehicle values; Kelley Blue Book® or other authorized guides determine used vehicle values. Minimum value is $3,000. PSECU makes all final decisions regarding vehicle value and proper rate. Loan rates are subject to change. See the Consumer Note, Disclosure and Security Agreement at psecu.com/disclosures or call 800.237.7328. Kelley Blue Book® is a registered trademark of the Kelley Blue Book Co., Inc.

Vehicle Loan Terms

Types  Value (Minimum) Loan Amount (Minimum) Term (Maximum)
New & Used Vehicles $40,000 $40,000 120 months
New & Used Vehicles $20,000 NA 84 months
New & Used Vehicles $12,000 NA 72 months
New & Used Vehicles $8,000 NA 60 months
New & Used Vehicles $6,000 NA 48 months
New & Used Vehicles $3,000 NA 36 months
*Rates reflect a .25% APR reduction for Automatic Payment Service and loan amounts up to 100% of the retail value of the vehicle. Your rate will increase if you discontinue Automatic Payment Service. PSECU will charge an additional 2% to the current interest rate when financing a vehicle for more than 100% and up to 120% of the retail value, and an additional 3% to the current interest rate when financing a vehicle for more than 120% and up to 130% of the retail value. PSECU will only finance up to 100% of the vehicle value for Refinance purchase types. The Manufacturer's Suggested Retail Price determines new vehicle values; Kelley Blue Book® or other authorized guides determine used vehicle values. Minimum value is $3,000. PSECU makes all final decisions regarding vehicle value and proper rate. Loan rates are subject to change. See the Consumer Note, Disclosure and Security Agreement at psecu.com/disclosures or call 800.237.7328. Kelley Blue Book® is a registered trademark of the Kelley Blue Book Co., Inc. 

Does Buying Out Your Lease Make Sense? 

What to know when deciding to lease vs. buy your vehicle.

Most auto leases have a built-in residual amount for a lease-end buyout. This amount is what you’ll pay if you opt to buy the vehicle when your lease ends. Review your lease contract or online lease account to find this amount.
Use an appraisal tool like Kelley Blue Book® to estimate your vehicle’s value. If the residual value is close to the “private party” sale value, buying could be a good decision.
When you buy out a lease, you’ll make a monthly loan payment instead of a lease payment. You’ll also need to pay registration and licensing fees and taxes, and you’ll pay for maintenance. Consider the total monthly costs before making a decision. Our vehicle calculators can help.
When you return a leased vehicle, you could owe fees for excess mileage or wear and tear. These things might not bother you as an owner, because you don’t have to pay those fees if you purchase the car. In that case, buying could offer better value.
If you love the car, it’s great to know you can keep it. But if it’s had mechanical problems or you’d rather own something different, it’s OK to move on. Look into our great vehicle financing rates for new and used cars.
If you’re ready to hit the road, you can apply now. Apply for an auto loan.

 

*Based on the Auto Lender Summary from Experian