Is It Possible to Finance a Jeep® Lease?
If you’ve decided to get a new vehicle, you have three options available to you. First, you can purchase the car outright with cash. Alternatively, you can take out an auto loan and pay for the car over time. Finally, you can lease the vehicle.
What Is a Jeep® Lease?
A Jeep lease is basically a long-term rental agreement that requires you to return your leased vehicle when your contract runs out. While your agreement remains in force, you’ll make monthly payments for the continued privilege of driving your leased car.
When you sign your contract, you’ll normally have to provide a down payment. You’ll also notice that your contract includes something called a “residual value.” That number is what the dealership believes your car will be worth when your lease runs out.
Because you’ll never own a leased automobile, you can’t finance one. What you can do, however, is finance a lease buyout.
A Look at Lease Buyouts
Lessees who’ve fallen in love with their leased vehicle often ask us about lease buyouts when they reach out to our Schaumburg, IL Jeep dealership. A lease buyout occurs when a motorist decides to purchase their leased automobile rather than return it to the dealership.
In general, the residual value that was included in your initial contract is the cost of the vehicle in a lease buyout. If you choose to buy out your lease, you’ll need to cover the car’s purchase price along with any related fees.
Just like you can finance a new vehicle if you’re looking for Jeep SUVs for sale and nearby areas, you can also finance a lease buyout. In fact, the two transactions are quite similar.
How It Works
To finance a lease buyout at Zeigler Chrysler Dodge Jeep RAM, you’ll need to complete an application. Whether you leased a Jeep Cherokee or another vehicle, we’ll need to take a look at your credit score before we submit your application to our trusted lenders. When our financing partners get back to us, we’ll explain the offers you’re eligible for.
Having been a Jeep dealer serving Arlington Heights, IL for so long, we know applying for financing can be stressful, but there’s no reason to worry. Our team will make the whole experience an enjoyable one. Even if your credit is poor, we can still help you qualify for financing for a lease buyout.
If you want to finance a lease buyout, we encourage you to apply for financing using our secure website now!
