Lease End’s 2025 Lease Buyout Report Reveals Millennials & Gen Z Are Driving a Surge in Lease Buyouts Amid Rising Auto Costs

New Data Uncovers Key Consumer Finance Trends, Including Over-Mileage Fees and Lease Equity Gains

Lease End—a company that helps drivers navigate the lease buyout process with personalized support and data-driven insights—today released From Leased to Loved, its annual Lease Buyout Report, analyzing the latest trends in consumer automotive lease buyout behavior. 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, the report highlights how rising costs and evolving driving habits are reshaping the lease buyout landscape.

“The data confirms what we’ve been seeing firsthand—drivers, especially Millennials and Gen Z, are taking a more strategic approach to leasing,” said Zander Cook, co-founder and CRO of Lease End. “With rising new car prices and monthly lease payments over $700, consumers are recognizing that buying out their lease isn’t just a fallback option—it’s often the smartest financial move. Beyond that, it’s also about keeping a car they know and trust, avoiding the hassle of starting over, and securing a vehicle they’re already comfortable with at a price that makes sense. This shift reflects a changing mindset around vehicle ownership, where drivers are prioritizing long-term value and financial strategy over simply upgrading to something shiny and new.”

This report analyzes who is buying out their leases, why it makes financial sense, and what’s next for the industry in 2025. It covers the latest trends shaping consumer behavior, including who is buying out their leases, what makes and models are the most popular for lease buyouts, average equity retained, trends in equity and finance terms, and how market conditions are influencing these decisions. Key findings from the Lease Buyout Report include the following:

• Millennials & Gen Z Are Leading the Shift Toward Lease Buyouts: 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.

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.”

Methodology

The 2025 Lease Buyout Report is sourced from Lease End’s proprietary transaction data, analyzing 14,235 lease buyouts nationwide in 2024. It provides a comprehensive snapshot of real-world leasing behaviors, offering insights into market trends, vehicle valuations, and consumer decision-making in response to economic conditions, financing rates, and industry shifts. This data is valuable for the automotive leasing and finance industry while also helping consumers better understand lease-end trends and options. The complete report is available here.

About Lease End

Based in Burley, Idaho, Lease End is a fintech company empowering auto lessees with the technology to easily and confidently exit their leases. Founded in 2021 with a mission to simplify the lease buyout process, Lease End provides drivers with the tools and resources to make decisions that are truly best for them. By replacing the dealership-driven leasing cycle with a transparent and accessible alternative, Lease End delivers a modern, driver-first experience. Through seamless technology, competitive financing options, and trusted support, Lease End helps drivers avoid unnecessary fees, unlock equity, and transition from leased vehicles to ownership—without the headache.

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