Best for: Keeping your car or selling it to make a profit
Leases often come with the option to buy the car at the end. Typically, you can do this by making an extra balloon payment. How much you pay depends on the remaining payments you had left on the lease — if any — and your vehicle’s residual value.
If you decide to buy the car, you have two options: keep the vehicle or sell it. If you want to keep the vehicle, you can cover that balloon payment with a lease buyout loan. Or you can sell it and use those funds to cover the buyout cost.