.svg)
.svg)
.svg)
.svg)
-01.avif)
If you’re looking to get out of your lease, you’ve probably come across lease takeovers. While lease takeovers are one option, they can take weeks, come with out-of-pocket costs, and leave you managing the process yourself.
Clutch offers a faster, more cost-effective alternative. We buy out your lease and purchase your car – and because we buy the car directly from your leasing company, you avoid the 13% tax that typically applies when buying out a lease yourself. This can save you thousands.
Not all lease buyouts are created equal. Some drivers try to manage the process themselves, paying 13% sales tax on the full buyout amount (which can add several thousand dollars to a $25,000 buyout), coming up with that full amount upfront, handling paperwork, and hoping for a smooth sale. Others turn to dealerships, where trade-in offers can be low and the process is often high-pressure.
Clutch makes lease buyouts simple, transparent, and fast. We handle the entire process for you, and because we buy the car directly from your leasing company, you avoid the 13% tax. We also give you a competitive offer, cover the safety certification, and pay you quickly if your car has equity — all without requiring any repairs or detailing on your end.
We work with many of Canada’s top leasing companies to buy out a wide range of popular makes. If your leasing company allows third-party buyouts, chances are we can help you exit your lease and sell us your car – all without paying the 13% tax.
Here are some of the makes we commonly buy out:
Acura, Audi, BMW, Genesis, Honda, Hyundai, Infiniti, Kia, Lexus, Mazda, Mercedes-Benz, Genesis, Nissan, Subaru, Toyota, Volkswagen
A lease buyout involves paying the leasing company the residual value of the vehicle, plus any remaining payments and a purchase option fee if applicable. The residual value is predetermined at the start of the lease and reflects the car’s estimated worth at the end of the lease term.
A lease takeover involves transferring your existing lease to another person, who then takes over the remaining payments and terms of the lease. In contrast, a lease buyout means purchasing the leased vehicle outright, either at the end of the lease term or earlier.
Yes! In most cases, you can sell your leased car if your leasing company allows third-party buyouts. Clutch works with many major leasing companies to handle the buyout directly, so you can sell your leased car without paying the 13% tax or coming up with cash to buy it yourself.
We handle the lease buyout with your lender. Once the buyout is complete, your lease is closed out with the leasing company, and you’re no longer responsible for payments. If your car is worth more than the buyout amount, you get paid the difference.
No. If you sell your leased car to Clutch, we buy the vehicle directly from your leasing company, meaning you don’t pay the 13% retail sales tax. Since this tax is calculated on the entire buyout amount, it can add up quickly — for example, that’s over $3,200 on a $25,000 buyout. With Clutch, you skip the tax entirely.
In many cases, yes – depending on your leasing company’s policies. Some lenders allow early buyouts (before the scheduled lease end), while others may have certain timing restrictions. We’ll help you understand your options based on your lease terms.
If the vehicle’s value is lower than the buyout amount, you may still choose to proceed by covering the difference, often called negative equity. But even if you have to pay out this amount, it’s typically much less than continuing to make lease payments for the rest of your term. We’ll give you a clear estimate so you can decide what makes the most financial sense.
At Clutch, we charge a one-time fee that covers everything involved in buying out your lease, including the lease buyout fee paid to your leasing company. This fee ranges from $999–$1499, depending on the make of your vehicle.
If you want to keep your leased car, a traditional lease buyout through your leasing company is the better option. Clutch specializes in helping drivers who want to exit their lease and sell the car, not those who want to keep it.
Once we receive your lease details, most buyouts are completed within a few days. The balance of your lease is paid within one business day after selling your vehicle to Clutch.
