Can You Negotiate a Lease Buyout?

2022 Grand Wagoneer on the Road

 

You’ve likely weighed the pros and cons of buying and leasing at the start of your car buying-process in Hood River. Even if leasing might have been the right decision at the start, you still have options when it comes to buying your leased vehicle before or at the end of your term.

Can you negotiate a lease buyout, or do you have to accept the amount offered by the lender? While most lease agreements do include a predetermined buyout price, it is often possible to negotiate a better deal. Find out how it works with the auto finance experts at C. H. Urness Motors Co., below.

How to Negotiate a Car Lease Buyout

While negotiating at a car dealership is a daunting prospect for many Goldendale, WA buyers, it’s worth your time to learn how to negotiate a car lease buyout—and it’s relatively easy when you’re prepared! Here’s what you can do if you’re considering an end-of-lease negotiation:

  1. Take the time to do research. At the start of your lease, the terms of the contract should outline the vehicle’s estimated value at the end of the lease. However, you should also research the market price of the vehicle when entering end-of-lease negotiations, as you may find the price is lower than the estimated value. This would give you leverage when negotiating for a better deal.
  2. Discuss your options in advance. While you can negotiate a lease buyout, the dealership isn’t the sole determiner of the buyout price, unless you’ve secured financing through the dealership. You’ll have to discuss buyout pricing with the local bank or credit union you’ve financed with to see if they’ll accept a lower cost for the vehicle.
  3. Make an offer. You’re now ready to begin end-of-lease negotiations at the dealership. If you can demonstrate inconsistencies between the estimated value and the current market value of your vehicle, and the dealer will be more likely to offer you a lower buyout price.

Consider Your Lease Buyout Options

Understanding how to negotiate a car lease buyout should also involve determining when the best time for a buyout is. Commonly, Portland drivers consider their buyout options at the end of the lease—but can you negotiate a lease buyout before the term is over? Yes! Some contracts allow for early lease buyouts under certain circumstances. Let’s take a closer look at your lease buyout options:

  • The lease-end buyout price at the start of the lease is determined by the residual value at the end of the leasing term. Some The Dalles dealerships allow you to begin end-of-lease negotiations to get a lower price for the vehicle.
  • If you want to avoid mileage and service penalties, an early lease buyout is a good choice. Before negotiations, this price is determined by the remaining amount owed for the lease and the listed estimated value at the end of the term.

Learn More About Financing with C. H. Urness Motors Co.!

Now that you know how to negotiate a car lease buyout, you’re ready to start your next adventure around The Dalles as the new owner of your vehicle! Be sure to discuss your financing options with the team in our finance center, and if you’re looking to learn more car buying tips, take a look at our other auto finance guides.

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