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Know the title transfer deadline: After you buy out your lease, you have to transfer the vehicle title to yourself within a certain period. The deadline typically ranges from 10 to 30 days ...
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Buyout fees: When you buy out your lease, most dealerships will charge you a purchase-option fee. The amount is usually a few hundred dollars, and it lets you exercise your option to buy your ...
The lienholder then releases their lien electronically which allows the customer to pick up the title directly from the Ohio BMV on the following business day. Some states may take up to three months for a paper title to be produced after an electronic lien release, though this is uncommon. [citation needed]
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Perpetual lease, or lease in perpetuity – may be used only for a specified purpose. Freeholding lease – after approval is granted, convert a lease to freehold, and the lessee pays the purchase price in installments. This is an interim tenure; freehold title is not issued until all purchase costs have been paid.
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