What is a lease buyout loan?

I've heard of leases and car loans, but what is a lease buyout loan?

“All leases will expire after a set amount of time, but if you have developed a bond with your car and do not want to turn it back over to the dealer at the end of your lease, you can buy the car for its remaining value from the dealer.
If you do not have the cash to buy out the lease, this is where a lease buyout loan can come in handy. You can apply for a lease buyout loan with some online lenders, banks, credit unions, and finance companies. “
Johnny Puckett
Answered on Apr 08, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.

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