Can You Negotiate a Lease Buyout?
One of the biggest benefits to leasing a car is the flexibility, and the end-of-lease negotiation process is a prime example. Even if you start off leasing on a short-term basis, you can easily change your mind by the end of the contract. And while most leasing agreements include an estimated buyout price within the initial contract, many customers wonder, “Can you negotiate a lease buyout with a new price?” and the answer is yes. Find out how to negotiate a car lease buyout to get the best deal possible, and get in touch with us at Acura of Avon with any questions!
How to Negotiate a Car Lease Buyout
Learning how to negotiate a car lease buyout is a matter of research, but we’re here to break down the steps to help you through the process. Take a look at how to get started in Hartford.
- Research: Your leasing contract will typically include an estimate of your car’s estimated value by the end of the term, so it’s good to look into that price. If you find that the market price around West Hartford is significantly lower now, bring proof to your negotiation and use it as leverage.
- Communication: Get in touch with your lender, which is usually a bank or credit union, to see what they can do. You might find that they are willing to accept a lower total cost. This can also help you during the end of lease negotiation process.
- Negotiate: You’ve done your research, you’ve got your finances in order, and you’re ready to go! Make the case that the estimated value of your car is no longer accurate in your contract, and show your evidence. Your dealership will generally adjust the price closer to your request.
Types of End of Lease Buyout
While it’s important to learn how to negotiate a car lease buyout around Manchester, it’s also important to learn when to negotiate. Some contracts allow an early lease buyout, but not all. Here are the differences to keep in mind:
- A lease-end buyout occurs at the end of your contract, and the price is set by the residual value at the end of your term. This is a typical time for your end of lease negotiation.
- An early lease buyout occurs if you buy your vehicle early, usually to avoid mileage and service penalties. Your car’s value will be determined by the amount your owe, as well as the vehicle’s estimated remaining value.
Find Out More with Acura of Avon
Now you know how to negotiate a car lease buyout, so why not talk about your options with Acura of Avon? Our financing team can help you determine the best route for you, and we’ll help you get the best deal possible in Canton. Contact us to get started!
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