Free preview · from the dealership side of the desk
Three to four months before a lease ends, the letters and calls start. The lessor wants a turn-in appointment. The dealer wants you in a new car. Very few people ask the question that matters: is my car worth more or less than the buyout in my contract? If your buyout is $23,000 and the car would sell for $26,000, simply returning it hands $3,000 of value to someone else.
From the desk, a lessee with equity is the best opportunity in the building, because that equity can quietly become dealer profit if the customer doesn’t know it exists. Free tip: when you call the lessor, ask for your payoff price and a dealer’s payoff price separately; they may differ. Below: the math for returning, buying or cashing in, third-party buyout restrictions, how to judge pull-ahead offers, a timeline that keeps you in control, and what to say.
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In the full guide
- Find your two numbers
- Option 1: return the car
- Option 2: buy it
- Option 3: cash in the equity
- Third-party buyout restrictions
- Pull-ahead and loyalty offers
- The timeline
- What to say
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