"If you are leasing, and especially if you are coming up on the end of a lease, this report by LeaseEnd.com is a must read. I’ve been surprising people for years by telling them to check for equity at the end of their lease instead of just walking away. We saw people with massive equity at the end of leases during Covid and the chip shortage, but even I was surprised at how much equity some people have still today. This makes my case for people leasing unless they are high mileage drivers. I encourage you to go through the entire study, but here are a few highlights." - Car Pro Show host Jerry Reynolds
Lease End is sharing its annual Lease Buyout Report - an interesting analysis of consumer automotive lease buyout behavior. The 2025 report finds that Millennials and Gen Z are driving a surge in lease buyouts amid rising auto costs. With leases surpassing mileage limits by an average of 3,000 miles year-over-year and younger generations increasingly opting to buy rather than lease or purchase a new vehicle, researchers say the report highlights how rising costs and evolving driving habits are reshaping the lease buyout landscape.
Top 10 Vehicles leased vehicles that retained equity
Equity for the top 10 most popular models in 2024 ranged from $2901 to $8730.
- Honda Accord: $8,730
- Toyota RAV4: $8,557
- Honda CR-V: $8,411
- Honda Civic: $7,766
- Toyota Highlander: $6,979
- Toyota Tacoma: $6,897
- Ram 1500: $6,505
- Honda HR-V: $6,032
- Jeep Grand Cherokee: $6,025
- Jeep Wrangler: $2,901
Other interesting Facts:
- Millennials & Gen Z Are Leading the Shift Toward Lease Buyouts: The study found that 53% of lease buyouts were made by drivers aged 45+, while nearly 47% of lease buyouts were from younger drivers, signaling a shift toward leveraging lease equity to offset rising car prices and payments.
- Consumers Are Driving More And Paying for It: Lease-end mileage averages reached 37,000 miles, up 3,000 miles from 2023, with Range Rover Velar drivers exceeding limits by 8,000 (which would equate to $800-$2,400 in fees if not for lease buyouts)—a clear sign that driving has rebounded post-pandemic, with further increases expected as return-to-office mandates rise.
- SUVs Dominate Lease Buyouts: SUVs accounted for 60% of all buyouts, with the Honda CR-V, Ram 1500, and Jeep Grand Cherokee among the most commonly purchased vehicles—further proof that when it comes to comfort, space, and capability, Americans continue to favor larger vehicles built for both daily life and adventure.
- Average Finance Terms Lengthening: Year over year, drivers have opted to spread their payments over a longer loan term with a year-to-date average loan term of 72.2 months, which helps with the cost of living with a lower monthly payment.
Lease End researchers say the report highlights a growing trend: leasing over and over is no longer always the most cost-effective option. As market conditions shift, drivers are looking for smarter ways to retain value and avoid unnecessary costs at lease-end.
“We’ve reached a turning point where lease buyouts are no longer just a niche financial decision,” said Cook. “More consumers are realizing that buying out their lease could save them thousands—and Lease End is here to help them navigate that process.”
The 2025 Lease Buyout Report is sourced from Lease End’s proprietary transaction data, analyzing 14,235 lease buyouts nationwide in 2024.
To read this outstanding report, click here.
Photo Credit: Olivier Le Moal/Shutterstock.com.