Would you like to buy the vehicle you're currently leasing? Here at Mercedes-Benz of Lubbock, we can walk you through the steps of a lease buyout and help you secure your new vehicle.

We offer this lease buyout assistance to drivers throughout Lubbock and Amarillo, TX, as well as Oklahoma City, OK. Read through our lease buyout guide today to get a better idea of the process.

Decide on a Buyout

Leases are great for their short-term nature. You drive the vehicle for a few years, then select a newer model with even more fun features.

But what happens when you lease a vehicle that works for your needs? It demonstrates impressive power, has advanced technology that feels fresh, and offers just the right amount of cargo room for your needs.

That's where a lease buyout comes into play. You won't have to say goodbye to this vehicle after all. Rather, you'll work out new financing terms that will lead to full ownership.

The decision to buy the lease is affected by a few different factors. Beyond just loving the car, there are a few important details to consider. These include the following:

  • If you're over the mileage limit
  • If the vehicle has interior or exterior wear and tear

Overages and damages typically come with certain fees. When you buy the lease, you may be able to avoid some or all of these fees.  


Calculate the Lease Buyout 

Another important detail to consider is the vehicle's residual value. This amount can be located in your lease agreement, as the number is set from the start of the contract. Read over your agreement today to discover this value, and make sure to include any payments you still have to make as well as possible fees.

Then, you'll want to look into your vehicle's retail value. Car websites like Kelley Blue Book and Edmunds are great to use when you want to find an estimate. It's also wise to check local listings for your make and model to get more ideas for a price.

Once you have that retail value estimate, compare it to the residual value. You're looking for a retail value that is higher than the residual value. If it is, a lease buyout might be the right move. As an added bonus, you'll now be more likely to sell your car for a great price.


Talk With Our Team

A few months before your lease comes to an end, you'll be contacted about what you'd like to do next. Here is when you can express interest in buying the vehicle, and you'll be provided with the next important steps to take.

We invite you to talk with our finance team about a new loan plan. Our experts craft all sorts of finance options that will work with your lifestyle. Once you're ready to buyout your lease, schedule an in-person meeting to go over what options will be available to you.


Purchase Your Leased Car at Mercedes-Benz of Lubbock

At Mercedes-Benz of Lubbock, we're excited to work with you on the lease buyout process. Drivers near Lubbock or Amarillo, Texas, or Oklahoma City, Oklahoma, consider a visit to our finance center to discuss payment plan possibilities. When you have any questions along the way, reach out to our team!

Make an Inquiry

* Indicates a required field

Contact

Mercedes-Benzof Lubbock

1702 Texas Ave
Directions Lubbock, TX 79401

  • Sales: (806) 749-2369
  • Service: (806) 224-2889
  • Parts: (806) 766-8284

Hours

  • Monday 9:00AM - 8:00PM
  • Tuesday 9:00AM - 8:00PM
  • Wednesday 9:00AM - 8:00PM
  • Thursday 9:00AM - 8:00PM
  • Friday 9:00AM - 8:00PM
  • Saturday 9:00AM - 8:00PM
  • Sunday Closed