Everything you

need to know.

Many captive lenders restricted third-party buyouts in 2022 (Honda, Toyota, Chase/CAL, depending on your state). If yours did, you can still capture the equity, but you have to buy the car out yourself first, get the title in your name, and then resell privately. The PRO report has your specific lender's policy.

When used-car prices spiked in 2021–2022, captive lenders realized lessees were selling cars to Carvana / CarMax for far above the residual, and the manufacturer was losing the chance to resell at retail. Honda, Toyota, GM Financial, and others quietly closed the loophole in certain states starting late 2022.

Sometimes, but only the originating manufacturer's franchised dealers. A Honda dealer can take a Honda lease trade-in even if Honda Financial restricts third-party buyouts to non-franchised parties. They'll often offer LESS than the equity is worth, because they know your options are limited.

Standard is 10 days, sometimes 30. The 10-day window is enough to get instant offers from Carvana, CarMax, and Vroom, plus one dealer trade quote. Get the payoff in writing (PDF or email) before starting any sale process so there's no dispute.

Calling the lender for a 10-day payoff: 15 minutes. Sending payment (cashier's check or wire) and getting title: 4–6 weeks at most lenders. Reselling privately or to Carvana once you have the title: 1–7 days. Total: ~5–8 weeks.

Most captive lenders require certified funds: cashier's check, wire transfer, or money order. Personal checks are not accepted for buyouts. Some lenders allow ACH bank transfer but it adds a hold period before title release.

That's the simplest path. The car becomes yours after the buyout completes. You'll need to register it in your name, get a new title, and shop new insurance (lease insurance is different from owned-car insurance). Sales tax applies to the buyout price.

No. You don't owe your dealer notice. The lease contract is between you and the lessor (the finance company). You can buy out, sell, trade, or return without consulting the selling dealership.

Trade-in is faster and easier but usually 8–15% lower than private sale. Private sale captures more equity but takes 1–4 weeks and requires test drives, paperwork, payment handling. If your equity is high (>$3K), private is worth the effort. If it's borderline ($500–$2K), trade-in for the convenience.

It varies by car and market. ALWAYS get quotes from all three using your VIN. Each quote is valid 7 days. Once you have the highest, that becomes your floor when negotiating with dealers. Most online buyers will pay the payoff directly to your lessor.

Both reduce equity. Excess mileage charges are typically $0.15–0.30/mile over the contractual limit, applied at lease-end if you return. Damage can mean disposition fee + repair charges. If your equity is positive even after these adjustments, buyout + resell still wins. If negative, return is cleaner.

When all three tiers (trade-in, private, retail) show NEGATIVE equity gap, returning is the cleanest exit. You pay disposition fee + any wear / excess mileage charges, and you're done. No buyout, no resale headache, no hidden tax bills.

A fee charged at lease-end if you return the vehicle (don't buy out, don't roll into a new lease). Typical range: $350–$595. It covers the lender's cost to inspect, recondition, and resell the car. Some lenders waive it if you lease another car from the same brand.

You'll owe an excess mileage fee at turn-in, calculated as (actual miles, contractual limit) × per-mile fee. Per-mile fees are usually $0.15–$0.30, sometimes higher on luxury leases. If you're significantly over, buying out might actually be cheaper than paying the excess charge.

Never, unless you opt in on a separate screen. Free check + paid report = zero dealer contact.

A 4–6 page document with your VIN, the market range, your payoff, the gap, sales tax for your state, and the recommended path. Signed, dated, with our methodology cited. Made to be brought to the dealer.

Flat fee for the report ($19.99 Light, $29.99 Full, $39.99 PRO). That's it. We don't take a percentage of your equity, sell you a buyout loan, send your VIN to a dealer network, or resell your data. If you make $4,000 from us, we still only charge you $29.99.

Your report URL is valid for 90 days after purchase. The market value snapshot inside the report reflects the day you ran the check, used-car prices shift, so older reports become less accurate over time. If your decision window is more than 30 days out, consider re-running closer to lease-end.