Auto lease buyout

Continue driving the car you love. From 5.75% to 14.27% APR.Disclosure 1

Turn your lease into ownership.

Buying out your auto lease lets you keep a car you know and love. Pay off the remaining value with a loan and move from leasing to owning with confidence. Excellent credit required for lowest rates.

Schedule an appointment

Apply in person for an auto lease buyout loan., or by phone if you have a Truist account. Call 877-882-1186.

Benefits of a Truist auto lease buyout loan

Ready to keep your leased vehicle? Flexible financing can help make it yours.

Personalized service

 

A Truist loan specialist will guide you through the application and answer any questions.

Quick decisions

 

Approvals are fast—and you can receive your funds as soon as today.Disclosure 2

Competitive rates

 

With low, fixed rates, you can save in interest over the life of your loan.

Auto lease buyout loan details - Rates, fees, and more

We offer terms up to 84 monthsDisclosure 3 , no pre-payment fees, and a 30-day interest rate lock.Disclosure 4

Loan amounts:

$3,500 to $400,000Disclosure 5

Loan type:

Secured
Availability:

Available in branches in the following states: AL, AR, DC, FL, GA, IN, KY, MD, MS, NJ, NC, OH, PA, SC, TN, TX, VA, WV.
Interest rates:

Fixed rates from 5.75% to 14.27% APRDisclosure 1

Terms:

Up to 84 monthsDisclosure 3

Interest rate lock:

30 daysDisclosure 4

Funding:

As soon as todayDisclosure 2

Collateral:

Automobile
Model year:

Up to 20 prior model years
Mileage:

Up to 120,000 miles
Payment options:

Digital, Autopay, mail, phone, in-branch
Pre-payment penalties:

None
Late or returned payment fees:

Varies by state

Frequently asked questions about auto lease buyout loans

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When you apply for an auto lease buyout loan, the lender will conduct a hard inquiry, which may initially reduce your credit score slightly. Taking on a new loan will also increase your debt and may reduce the average age of your credit accounts, which may also impact your score. However, an auto lease buyout loan can also improve your mix of credit accounts if you don’t already have an installment loan, which may be viewed positively. Finally, making on-time loan payments can impact your credit score positively.

Auto lease buyouts may include additional fees beyond the residual value. Common costs may include a purchase option fee, state sales tax, title and registration fees, and potential dealer documentation fees. Some dealers may also charge an inspection or certification fee. Your lease agreement can help you understand any additional fees.

With a secured lease buyout loan, the new lender holds the car title until the loan is paid in full. The title is transferred from your leasing company to the new lender.

Your auto lease buyout price is typically calculated by the dealership adding the residual value (estimated future value from your contract) to any remaining payments, purchase option fees, and applicable taxes and registration fees.

You may also be interested in these options.

Used auto loans – dealership

With same-day funding available,Disclosure 2 quick decisions, and a 30-day interest lock guarantee,Disclosure 4 we make it easy to get in the driver's seat at any auto dealer.

Learn more
New car loans

We have solutions to fit your budget and help you get on the road.

Learn more
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Disclosure 1 Your loan terms, including APR, may differ based on amount, term length, and your credit profile. Current rate range is 5.75% to 14.27% APR. Excellent credit is required to qualify for lowest rates. Less than a majority of applicants qualified for lowest rate. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. These offers are subject to credit approval under Truist underwriting guidelines including qualifying loans with certain debt to income, FICO® scores and other underwriting credit criteria.

Disclosure 2 For a secured auto loan: Your loan officer will provide you with guidance on what documentation is needed to help expedite the approval process.

Disclosure 3 For comparison purposes, a consumer who finances a car for $25,000 at a term of 84 months and at an annual percentage rate (APR) of 6.18% would remit 84 payments of $367.00.

Disclosure 4 Once your application is approved, the interest rate is valid for 30 days as long as there are no changes to your application or loan terms.

Disclosure 5 Minimum loan amount may vary in some states to comply with applicable law.

Disclosures

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Investment and Insurance Products:

  • Are Not FDIC or any other Government Agency Insured
  • Are Not Bank Guaranteed
  • May Lose Value

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New York City residents:

Translation or other language access services may be available. When calling our office regarding collection activity, if you speak a language other than English and need verbal translation services, be sure to inform the representative. A description and translation of commonly-used debt collection terms is available in multiple languages at http://www.nyc.gov/dca.

Borrowers with Limited English Proficiency (LEP) needing information can use the following resources:

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