Younger drivers are buying out their leases more often, according to From Leased to Loved, the annual Lease Buyout Report from Lease End—a company that helps drivers navigate the lease buyout process.

The report analyzes 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.”

This report analyzes 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 buyout, 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.

“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.”