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Lease End is designed to help individuals who lease their vehicle but want to own it outright. The company matches you with auto loan offers from major lenders to get you the cash to buy out your lease. Once you choose an offer, Lease End works with your dealer to coordinate the title transfer and with the DMV to register your vehicle in your name.
Getting started with Lease End takes less than 15 minutes, significantly reducing the hassle involved in taking ownership of your car.
Lease End is suitable for anyone who has a leased vehicle that they want to buy. For example, you may want to buy out your lease to avoid returning a damaged car to your dealer or to avoid mileage overage fees at the end of your lease. You can also buy out your lease to sell your car to someone else.
While many car dealers say that you need to return to the dealership to buy out your lease, this isn’t true. Lease End works with your dealer to pay off your contract and transfer your vehicle’s title to your name. You don’t need to visit the dealer or the DMV at any point in the process.
Lease End operates in all 50 states and can work on any lease with a buyout clause (i.e., most standard auto leases), as long as it’s less than eight years old. The company doesn’t specify a minimum credit score, but many of its partner lenders require a score of 520 or higher. So, you may need good to excellent credit to be approved for a loan through Lease End.
Lease End’s online application process takes less than 15 minutes, and you can even receive financing within a day. To get started, you’ll need your name and contact information, your vehicle identification number (VIN), your vehicle’s mileage, and your lease account number.
Lease End looks at your lease to determine how much it will cost to buy out your contract, then shares your information with lending partners to get personalized offers. Note that to collect offers, Lease End will run a hard credit check that can affect your credit score. You’ll be asked to authorize the credit check in advance.
You can choose the loan offer that works best for you and sign your loan documents online. Lease End takes care of everything else, including buying out your contract and transferring your vehicle’s title and registration to your name.
Lease End works with Ally Bank, Capital One, First Interstate Bank, TD Bank, and Mountain America Credit Union to offer auto loans. These lenders offer auto loans ranging from $1,000 to $350,000, with rates ranging 5.29%-24.99% APR. Your rate will vary depending on the amount you borrow, your credit score, and your loan term. Repayment periods range from 48 to 75 months.
While Lease End doesn’t specify a minimum credit score for using its service, its lending partners typically require a score of 520 or better to issue auto loans and require a minimum income of $1,000 per month.
Lease End makes money by collecting fees from the lenders that it works with.
Lease End is an Idaho-based business established in 2018. It has helped thousands of customers buy out their leases and has a rating of 4.9 stars on Trustpilot after more than 430 reviews. The company also has an A+ rating with the Better Business Bureau.
Lease End’s website uses Secure Sockets Layer (SSL) encryption to keep your application information secure. It also has a transparent privacy policy that explains what information it shares with lenders.
Lease End’s partner lenders offer repayment terms from 48 to 75 months. There are no prepayment penalties if you pay off your loan early. You must contact your lender directly to make payments or for questions about your loan.
Lease End offers customer support by phone and text messaging 6 days a week, and through their online platform 24/7. It only took about two minutes to get in touch by phone and the service agent was very helpful.
The company’s website has a detailed FAQs page that explains how the buyout process works. Lease End also has a blog with articles to help you decide if a lease buyout is right for you.
| Lease End | MyAutoLoan | |
| APR | 5.29%-24.99% | 4.93%-18.99% |
| Min. credit score | None | None |
| Loan amounts | $1,000-$350,000 | $8,000-$100,000 |
| Repayment terms | 48-75 months | 24-72 months |
Like Lease End, MyAutoLoan connects you with auto lenders to help you buy out your vehicle’s lease. The lending process is similar to Lease End, but MyAutoLoan’s partners deposit your loan in your bank account or mail you a check. It’s up to you to work with your dealer to pay off your lease, transfer your car’s title, and register your car in your name when you use MyAutoLoan.
That said, MyAutoLoan does offer slightly lower interest rates than Lease End for medium-sized lease buyout loans. If you can qualify for a better rate from MyAutoLoan, it could be worth the hassle of working with your dealer on your own.
Lease End, 1001 East Main Street, Burley, ID 83318
Lease End makes it easy to buy out your current auto lease by matching you with auto loan offers. It then works with your dealer and the DMV to transfer your car’s title and registration.
Lease End works with the vast majority of auto leases, and the whole process takes less than 15 minutes. Overall, Lease End is a great choice if you want to end your lease and own your vehicle outright.
