Buying Out a MAZDA CX-5 Lease
If your Mazda CX-5 lease is about to expire and you want to buy it out, you need to make sure you're prepared. The terms of the buyout and the steps you need to take will be outlined in the lease, but the Colonial Mazda team is also standing by to assist. Here's what you need to know about buying out a Mazda lease and what you need before you come in to sign paperwork.
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Can I Buy My Lease Out?
Most Mazda leases allow you to buy the vehicle out at the end of the lease terms. If your vehicle is eligible for a buyout, you'll find the buyout price inside your lease. This is a fixed amount agreed by you and the dealership at signing and won't change at the end of your leasing period.
How Is the Buyout Price Determined?
When you buy a new Mazda model out of its lease, you're paying a fixed price determined roughly by the car's value minus what you've paid on the principal during the lease. You can think of it as paying for the rest of the car. Buying the vehicle transfers ownership to you.
Do I Need to Pay All at Once?
No! If you buy your Mazda CX-5 lease out, you can transfer the vehicle to a financing plan to pay off the rest of the value. But if you want to pay in cash up front, you certainly can!
Can I Buy Out Early?
If you lease a car at our Danbury, CT Mazda dealership, you may be able to buy your lease out early for an additional fee. Make sure you check your lease for any applicable penalties or exceptions.
When Should I Start the Buyout Process?
We recommend getting in touch with us within three months of your lease completion date. That will give you enough time to change your mind and prepare for the buyout process and allow us to prepare a financing plan for you.
Explore MAZDA CX-5 Lease Options in Danbury, CT
Make sure you contact us immediately if you want to buy out your Mazda CX-5 lease. The Colonial Mazda team can help you start the buyout process quickly and efficiently. Visit our Mazda finance team today to learn more about your lease.
