Learning how to calculate a lease buyout can take the stress out of your next steps, and our Land Rover lease return team has the information you need to move forward. Many lease contracts have a Buyout Amount or Payoff Amount written into the fine print. You should always start here, but we’ve laid out some steps you can take to be sure that you’re making a smart choice.
The cost of a lease buyout is generally agreed upon at the beginning of your term. However, it’s up to you to do your research and make sure that a lease buyout is really the best option for your needs. Here’s how to calculate a car lease buyout’s true value:
If your vehicle is not worth as much as the buyout price suggests, consider purchasing a different model instead. If you love your vehicle, and it’s worth as much as or more than the listed buyout price, it could be a very smart purchase! Just make sure there isn’t a different pre-owned vehicle that costs less and offers more.
Still on the fence between buying and leasing? Our Land Rover lease deals might convince you to stick with a short-term contract.
All that we’ve said so far applies to lease-end buyouts, which are much more common than early lease buyouts. Early lease buyouts are really only recommended if you’d end up paying thousands of dollars in fees and charges at the end of your lease, since buying out the contract allows you to avoid this day of reckoning. The dealership has a definite advantage in these situations, so they’re very unlikely to negotiate on price.
If you need to know how to calculate a car lease buyout before the end of your contract, you’ll need to factor in the full remaining value of your leasing contract–along with any fees required to break your contract. Consider all your options in detail before you end up going down this route.
Explore our financing and insurance tips to learn more about your options, or sit down with an expert on our financing team today. Our Annapolis dealership is just a short drive from Severna Park or Edgewater!
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