In some cases, you’ll see a Buyout Amount or a Payoff Amount listed in your monthly lease statement. This buyout amount includes the residual value of your vehicle at the start of the lease, remaining payments, and might also include a car purchase fee in some cases. If you don’t have this value listed anywhere, or just want to know how to calculate a car lease buyout, follow these steps:
Lease-End Buyouts: As you near the end of your lease term, you’ll be more likely to negotiate a buyout in your favor. Remember, if your vehicle is worth more than the residual value, then you will have the upper hand in negotiations.
Early Lease Buyout: If you want to buyout early, then you may not have as much wiggle room. Whether due to too much vehicle wear and tear or danger of exceeding the mileage limits, the dealer knows they have more leverage in the situation if you are trying to prematurely end your lease.
No matter what you need to know, the team at Mazda of Columbia is here to help! Our dedicated finance center is here to ensure you’re behind the wheel of the new Mazda you need at a price that’s right for you. Don’t hesitate to contact us with questions, including about the difference between buying and leasing.
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665 Broad River Road • Columbia, SC 29210
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