To buy out your leased Kia, you can contact your Kia dealership, call a lease-end Kia advisor, or log in to your Kia Finance account to request a quote and initiate the Kia lease before your lease maturity date.

If you are currently leasing a Kia, you may be able to buy out your lease before the scheduled lease return, but you’ll face additional steps or restrictions from your dealer.
Your Kia lease buyout payments are calculated based on the residual value listed in your lease agreement.
Compare multiple loan offers with Kia’s in-dealership financing options before committing to a loan for your Kia lease buyout.

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How to lower your Kia car insurance costs

How a Kia lease buyout works

A lease buyout is when a driver purchases their vehicle at the end of a lease term rather than turning it in to

start a new lease

. There are generally two types of lease purchase options:

Lease-end buyout: In most situations, lease buyout negotiations occur at the end of the lease when you would otherwise turn in the leased vehicle.

Early lease buyout: In some situations, drivers may choose to pursue a lease buyout before their lease term is ending—doing so may come with extra challenges, however.

Here’s what you’ll need to do if you want to buy out your current Kia vehicle at any point in your lease:

Contact Kia for a buyout quote: You can either call your Kia dealership, get in touch with a Lease-End advisor (855-537-8542), or log into your

Kia Finance account

to get a buyout quote for your vehicle.

Check your lease contract: Before you hand over payment, you’ll want to check your lease contract for your Kia’s residual value. This number will be helpful as you weigh your options.

Submit an odometer reading: Submit an

odometer disclosure statement

via the Document Request tab in your Kia finance account or fax a physical copy to 972-590-3968.

Negotiate the lease buyout with your Kia dealer: If you’re able to

secure a pre-approved loan

prior to this, you’ll be in a stronger position for payment term negotiations.

Register and insure your new Kia: Signing off on that Kia is not the end of the process! Now that you officially own your vehicle, you’ll need to

title and register the vehicle

at the DMV and update your

car insurance

policy.

Keep in mind: You’ll have to submit any remaining monthly payments and fees on your balance as part of your total buyout cost. However, Kia will waive your disposition fee since you won’t be returning the car.

Lease buyout financing through Kia

Kia offers the option to finance the residual value of your leased vehicle with a

Kia car loan

from Kia Finance.

Expert tip: Get offers from at least two other lenders before you sign any paperwork to ensure that you’re getting the best deal. You can usually get better rates and more agreeable terms with a loan from a credit union or a bank than a financing plan at the dealership.

How to calculate Kia lease buyout fees

The price that the driver will pay on a Kia lease buyout is typically determined by “residual value”—which is based on the car’s anticipated depreciation and recorded in the lease agreement.

While you can access your Kia lease buyout quote online or by contacting your Kia dealer or lease-end advisor, you can also calculate the

resale value of your Kia

on your own:

Locate the residual value that was originally estimated on your lease contract.

Compare it to

your vehicle’s actual value

with help from resources like Kelley Blue Book and Edmunds.

MORE:

How to calculate a car lease payment

When a Kia lease buyout is (and isn’t) worth it

Buying out your Kia lease may be an excellent choice if you love your vehicle and have kept it in great shape. However, you should compare the residual value with your Kia’s actual value before making a decision:

If your Kia’s actual value is higher than the residual value: Your Kia is worth more than was originally estimated—buying out the lease is a great financial choice.

If your Kia’s actual value is significantly lower than its residual value: Buying out your Kia’s lease will actually make you lose money.

Here are some common reasons why you might consider returning your Kia at the end of the lease rather than proceeding with a buyout:

Your leased Kia has been in multiple

car accidents

or undergone excess wear, leading to significant depreciation

You’re more interested in a new Kia model or model year

Your credit score is low so you’re having trouble securing a low-interest loan

Expert tip: Use Kia’s end of lease self-assessment to evaluate the

wear and tear

on your model. A buyout might be the right choice if your Kia is in good shape and you have the finances to back it!

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