Lease buyouts can be an attractive option for those who have come to love their leased vehicle and want to keep it. RefiJet lease buyout offers a way for you to buy out your lease and transition it into an auto loan. Plus, the entire process is almost effortless on your part, making the lending platform an option worth considering.
RefiJet Lease Buyout
Buy Out Your Lease
Is RefiJet a Reputable Company?
RefiJet is an online platform that simplifies the refinancing process. It connects consumers looking to refinance their auto loans or motorcycle loans with a network of lenders who can provide the best deals.
RefitJet is accredited by the Better Business Bureau (BBB) and boasts an A+ rating. It also partners with well-established lenders, including banks, credit unions and other financial institutions with a track record of success. You can view loan offers without impacting your credit to see for yourself what its lending partners have to offer.
Regarding service, RefiJet assigns a personal representative to help guide you through the refinancing loan application process. This individualized attention ensures that you receive the tailored support and assistance needed when navigating loan refinancing or lease buyout options.
What is a Lease Buyout?
A lease buyout is a process where you, the lessee, have the option to purchase the vehicle you are currently leasing. This allows you to fully own the car at the end of your lease term instead of returning it to the dealership.
When Should You Consider Buying Out Your Lease?
Are you on the fence about moving forward with a lease buyout? There are a few key reasons you might choose to buy out your lease:
- Familiarity: You already know your vehicle’s history, condition, and how it has been maintained. A lease buyout may be an attractive option if you have kept your car in good shape and have not exceeded the mileage limits set in your lease agreement. It allows you to retain a well-maintained car that you are familiar with, avoiding potential costs and surprises that can come with acquiring a different vehicle.
- Satisfaction: You enjoy driving the car and feel confident in its performance. If you intend to drive the car for several more years and want the freedom to customize it or drive without mileage restrictions, buying out your lease may be the right choice for you.
- Equity: The car’s market value might be higher than the calculated residual value, giving you an opportunity to gain equity in the vehicle. This could happen if the vehicle has experienced less depreciation than anticipated, making it a wiser financial decision to purchase and potentially resell the car at a later date.
What are the Benefits of Using RefiJet for Your Lease Buyout?
Here are some key benefits of using RefiJet for your lease buyout:
- Personalized financial guidance: A dedicated representative will provide support and advice tailored to your unique situation. They will walk you through your options to help determine if a lease buyout makes sense and assist with all stages of the process.
- Competitive loan options: RefiJet works to find a lower rate and lease buyout loan terms for your needs. By leveraging relationships with multiple lenders, they can often obtain better interest rates than you could on your own.
- Hassle-free application: With their streamlined online process, RefiJet takes the stress out of applying for a lease buyout loan. A simple online electronic form gathers your information, and within just a few days, you will know if you are approved for a loan.
- Commitment to customer satisfaction: RefiJet strives for your financial success, delivering top-quality customer service and assistance throughout your lease buyout journey. From your initial contact through repayment of the loan, a Financial Service Representative is available to answer questions. They also work to make the transaction as smooth and easy as possible.
RefiJet Lease Buyout Process and Details
RefiJet offers a straightforward and efficient process for you to obtain a new car loan to purchase your leased vehicle. Below is a brief overview:
- Review your lease agreement: Doing so helps you understand the buyout provisions, such as the car’s residual value stated in your contract or any potential purchase option fees.
- Gather the necessary documentation: You’ll typically need proof of income, your driver’s license and your vehicle registration. Having these documents handy can help speed up the application process.
- Apply with RefiJet: Complete the online form or call RefiJet directly to discuss the next steps. The application is designed to be simple and takes less than 15 minutes to complete in most cases.
- RefiJet will review your application: Within just a couple of business days, RefiJet will let you know if you’ve been approved for a
- Lease buyout loan: They will provide the loan terms and documents to sign if you receive final approval.
- Finalize your purchase: Once signed, RefiJet will pay off your lease, and you will own the vehicle outright. New monthly loan payments will be scheduled.
RefiJet Lease Buyout
Buy Out Your Lease
How to Qualify for a Lease Buyout with RefiJet
Partner lenders assess your credit score, income, vehicle age and lease term to gauge your eligibility for a lease buyout. You’ll also need to provide proof of full coverage insurance and residency when you apply. That said, eligibility requirements vary by lender when seeking a new loan.
Fees and Costs of Buying Your Lease with RefiJet
The fees and costs you’ll incur will vary by lender. An origination fee of $495 applies, and you’ll pay interest over the life of the loan. Plus, you can expect to pay applicable local, state and federal taxes on the sale. RefiJet also charges a prepayment penalty if you pay your loan off within 24 months.
Is a RefiJet Lease Buyout Right for You?
RefiJet offers the convenience of working directly with a representative to obtain favorable lease buyout terms. This can simplify the process compared to arranging financing on your own.
However, you’ll want to carefully review the total cost of the loan versus other end-of-lease options like turning in the car or buying it outright without financing. Also, consider how long you plan to keep the vehicle, your creditworthiness, the car’s condition and mileage, and potential repair and maintenance costs down the road.
Ultimately, a RefiJet lease buyout can be a good choice if you want to retain your leased car and qualify for competitive interest rates, as it allows you to capitalize on an existing vehicle while maintaining low monthly payments. Just be sure a buyout makes financial sense compared to alternatives, given your unique situation.
How to Get Started with RefiJet Lease Buyout
To formally apply for financing to buy out your lease, complete this simple online form to connect with a vehicle finance expert at RefiJet. An auto refinancing expert will evaluate your financial profile and guide you in the right direction.
RefiJet Lease Buyout
Buy Out Your Lease
