: If the car is worth less than the buyout price, it’s usually better to return it.
: If the car’s market value is higher than your buyout price, you’re getting a deal below market rates.
: Buying the car allows you to skip costly fees for going over mileage limits (which can cost 15–30 cents per mile) or for minor damages.
: Your lease agreement includes a predetermined price, called the residual value , which is the car's estimated worth at the end of the lease.
: Unless you're paying cash, you'll need a lease buyout loan. Credit unions like Camino Federal Credit Union or Island Federal often offer lower rates for these loans compared to dealerships. When It’s a Good Idea
: Beyond the purchase price, you may owe sales tax, registration fees, and a "purchase option fee" (often a few hundred dollars).
