Can You Negotiate a Lease Buyout?

2022 GMC Terrain

 

When looking for a new East Wenatchee ride, there are quite a few options available, and it can be quite overwhelming. However, regardless of whether you’re buying or leasing, the team at Sangster Motors is here to help. You could likely buy out your lease before your lease term expires. For more information, feel free to contact us anytime.

 

 

How to Negotiate a Car Lease Buyout

Let’s learn how to negotiate a car lease buyout around Levanworth both before and at lease end:

  1. Do your research ahead of time – It’s common for the lease to include an overall estimate of your vehicle’s value at the end of your leasing contract. If the market price is much lower than the estimated value, this puts you in a better position to negotiate. 
  2. Contact your financer in advance – You should always negotiate directly with the financier, such as the bank or your credit union. This gives you the chance to get a lower cost estimate, providing you with the information you need for the end of lease negotiation. 
  3. Make an offer – Now that you’ve conducted the proper research and have made sure your finances are in check, it’s time to head over to your Wenatchee dealership. Preparation is key, as it allows you to better negotiate if the contract estimate is incorrect.

Choosing the Right Lease Buyout

Now that you know how to negotiate a car lease buyout, you need to choose when you’re going to buy out your lease. Although purchasing the vehicle after the lease is over is more common, depending on your contract you might be able to buy out the lease early. Let’s check out the difference between an end of lease buyout and an early lease buyout:

  • The price of a lease-end buyout is usually stated within the contract when you sign the lease. This value is determined by the residual value at the end of the lease. However, you might be able to start the end-of-lease negotiation in some cases. 
  • An early lease buyout can be beneficial if you don’t want to deal with mileage restrictions and other penalties. In this case, the price of the vehicle is determined by how much is still owed on the lease.

Find Your Next Vehicle at Sangster Motors Today!

Now that you know more about how to negotiate car lease buyout, come stop by Sangster Motors for more information! While you’re here, browse through our new vehicle inventory, and visit our finance center to begin the end of lease negotiation. Be sure to use our new vehicle specials to save big near Wenatchee, WA!

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