What is the meaning of off lease?

An off-lease vehicle is a vehicle that was previously leased by a business.

Who is the owner of Off Lease Only?

Mark and Eileen Fischer
Off Lease Only began with a vision to provide a unique and transparent used car buying experience that was unlike any other dealer’s. The Founders Mark and Eileen Fischer started with just two cars and their life savings, and grew their business into one of the largest volume used car dealers in Florida.

What is buying off lease?

A lease buyout involves purchasing a leased vehicle either at the end of the contract or at some point before the lease was originally set to end. Typically, leases include a purchase price option that was established when the lease was signed.

What does car off lease mean?

What is an “off-lease vehicle?” An off-lease car is a vehicle that’s been returned to a dealer at the end of its lease. Generally off-lease cars have been gently used.

Is it good to buy off lease cars?

Off-lease cars can be a great choice. Because of the requirements of a lease contract, off-lease vehicles are usually low mileage, only a couple of years old, and well taken care of. Yet, they’re still used, so they come with a steep discount compared with new cars. Some may even be certified used cars (CPO).

How much did off lease only sell for?

Spirit Realty, a REIT, bought the sites in Fort Lauderdale and West Palm for $27.5M and $22M, respectively. Off Lease Only, the used car dealership, sold its Fort Lauderdale and West Palm Beach locations in a $50 million deal.

Why do dealerships want you to lease?

Leasing is just another method of financing, so you’ll actually be leasing through a bank or leasing company. This doesn’t mean a dealer won’t make money off a lease. In fact, most dealers LOVE leasing because it allows them to make more profit than a traditional car purchase.

What happens to lease cars when returned?

At the end of a lease contract, you simply hand back the car to the finance company who collect it for free. If the vehicle is in good condition, you will not pay damage charges. You can then choose a new lease agreement on your next car or look elsewhere.

Can you negotiate a lease buyout?

If you’ve been thinking about purchasing your lease, you may be searching for the answer to the question, “Can you negotiate a lease buyout?” In short, yes. Most leasing agreements include an estimated buyout price in the contract, but in most cases, it’s possible to negotiate a better deal.