The process for leasing a car with an option to own
1. Research and Choose Your Vehicle
Select a car that fits your needs and budget from the available student-friendly options.
2. Apply and Get Approved
Complete a simple application, including proof of student status and basic financial information. Your credit is checked, but Lease 2 Own programs often accommodate students with limited credit.
3. Review and Sign the Lease Agreement
Carefully review the lease terms, including the monthly payments, duration (2years), and the predetermined buyout price. Sign the agreement to start your business.
4. Drive and Maintain the Vehicle
Make regular monthly payments and keep the car well-maintained as per the agreement
5. End of Lease: Buyout Option
At the end of the 2-year lease, you have the option to purchase the car by paying the agreed buyout price. You may need to arrange financing for this step if you don’t pay in cash.
6. Complete Paperwork and Transfer Ownership
Once payment is made, complete the necessary paperwork to transfer the car’s ownership to your name. This may include a vehicle inspection, bill of sale, and registration.
7. Register the Vehicle
Register the car in your name at your local licensing office, providing proof of purchase and insurance.
This process ensures a smooth path from leasing to ownership, with clear steps and support throughout.