FAQs

Yes, you can purchase your leased vehicle at any time during the lease. Contact us for forms, instructions, and the payoff amount. We cannot accept payoffs from third parties (such as friends and family). If a retailer would like to purchase your vehicle, they will need to contact us directly for the retailer payoff amount. Please note that even after you terminate your lease, you may be billed for remaining property taxes, parking tickets, toll charges, and other state or local fees due on your account.

Visit Chase Direct Auto to complete an application for lease purchase financing from Chase. Lease purchase financing is only available for named lessees on the Lease Agreement, and cannot be transferred to third parties, such as friends or family members. Adding or removing an individual from the lease is also not available.

We do not negotiate the purchase price as you are bound by your signed Lease Agreement. Any negotiations regarding the purchase would need to take place at the retailer prior to signing your Lease Agreement.

See your Lease Agreement for the agreed upon value of the vehicle and the purchase option fee. Please note that even after you terminate your lease, you may be billed for remaining property taxes, parking tickets, toll charges, and other state or local fees due on your account.

If you purchase your lease at the end of your term (all contracted payments made), you will pay the residual value provided in your Lease Agreement. Any additional payments made after your contracted term will continue to reduce the residual value amount.

If you purchase your lease before the end of the lease term, you will pay the adjusted lease balance, plus any past due monthly payments, unpaid late charges, or other amounts due under the lease.

Some states assess sales tax on the purchase price, and you may be required to pay the sales tax to the state motor vehicle titling agency when you transfer the title. Please check with your state motor vehicle titling agency.

If your payoff quote overlaps your payment due date, you will see an amount for Monthly Payment Due. This is not an extra payment, as the Monthly Payment Due was subtracted from the Purchase Price and includes a service fee and tax. If the quote had not overlapped your normal payment due date, the amount in the Monthly Payment Due section would have remained in the Purchase Price amount. The Total Purchase Price must be paid to meet the terms of your Lease Agreement and close your account. If the payoff check is posted before the payment due date, you may be entitled to a refund, which may include the service fee and tax. We recommend sending the payoff check via overnight delivery if this is a concern.

If all necessary documentation is received, it may take a minimum of 4 business days from when the purchase funds are posted to process the transaction and mail the certificate of title. Please make sure all documentation is complete to avoid delays.

Refer to the documentation provided when the quote was received to confirm the "good through" date.