Review your lease agreement for the buyout price, purchase option terms, and any fees
Contact the leasing company to confirm the exact payoff amount
Check whether the buyout price includes taxes, registration, and administrative fees
Compare the buyout price to the car’s current market value
Inspect the vehicle or get a mechanic’s inspection before buying
Arrange financing if you are not paying cash
Get a loan preapproval from a bank, credit union, or lender if needed
Ask the leasing company for the required buyout paperwork
Submit the purchase request and complete any required forms
Pay the buyout amount using the leasing company’s accepted payment method
Obtain the title or title transfer documents once the purchase is finalized
Register the vehicle in your name with your local motor vehicle agency
Update your insurance policy to reflect ownership instead of leasing
Keep copies of all lease-end and purchase documents for your records