How it works
Learn how lease buyout and auto refinancing work with Car Ready
Four steps to buying out your lease
STEP 1
Answer a few questions on CarReady.com to get matched with a lender
CarReady.com provides a short series of questions to match you with the best auto refinance or lease buyout lending partner. The questions take less than two minutes to complete, and your answers allow CarReady.com to find the best lending partner for you.
STEP 2
Review your loan offers
Once you’ve completed the questions on CarReady.com and have been matched with a lending partner, you’ll receive loan offers personalized to you.
STEP 3
Speak to a Refinance or Lease Buyout Specialist to discuss your options
You will receive a phone call from an auto refinance or lease buyout specialist representing the lender. They will discuss the options that are available to you, explain the process, and answer any questions that you may have.
STEP 4
Submit the required documents and close your loan
The loan specialist will hold your hand through this process and coordinate all of the paperwork with the lender. Once your documentation is complete you can fund your loan and start saving!
Ready to get started?
Questions?
You have questions, we have answers. Take the guesswork out of securing car loans.
Every situation is different, but some of the common benefits that our customers achieve are:
- Saving money paid on interest when financing into a lower interest rate.
- Lowering your monthly payment when financing into a lower interest rate or increasing the loan length.
- The opportunity to get cash out of the equity in your vehicle. If your loan balance is significantly lower than the value of your vehicle, it is possible to receive cash out when refinancing into a new loan.
There are several circumstances that may make it a good time to refinance your auto loan. Some of the most common are:
- If you are looking to reduce your monthly auto loan payment. Every situation is different, but it is common to reduce monthly payments during auto refinancing through lower interest rates, longer terms, or both.
- If your credit has improved since you bought the car, you may be able to get a lower interest rate by refinancing.
- When you have equity in your vehicle, you will have more and better options for refinancing your auto loan.