Can You Negotiate a Lease Buyout?

Are you wondering if you can negotiate a lease buyout? If so, we have all the information you’re looking for in our comprehensive guide. Making the right choice between buying and leasing a vehicle isn't always easy. That said, you're often not locked into an initial decision. Even when leasing seems like the best starting point, options to purchase later may be available, either before or at the end of your lease term. Although most lease agreements include an estimated buyout price in the contract, there's usually room to negotiate and potentially secure a more favorable deal. When you’re ready to take the next step in your car-buying journey, browse our new inventory and then apply for financing with our easy-to-use form.

Here are the steps that drivers near Macon and Warner Robins should take before and during their end-of-lease negotiation:

1. Do your research ahead of time - In most cases, the leasing contract includes an estimate of the vehicle’s value at the end of your leasing contract. If your research reveals that the market price of the vehicle is significantly lower than its estimated value, you’ll have the leverage to negotiate a better deal.
2. Contact your financer in advance - Unless you’ve secured financing through your dealership, your dealer may not be the sole determiner of the lease buyout price. Negotiate directly with the financer—perhaps a local bank or credit union—to see if they’ll accept a lower total cost for the vehicle. Armed with this knowledge, you’re ready to start your end-of-lease negotiation.
3. Make an offer - Once you’ve done your research and set your finances in order, you’re ready to go to the dealer with a lease buyout offer. If you’ve done your work and can show that the estimate in the contract is inaccurate, dealers like Genesis of Macon will generally offer you a price closer to that which you’ve requested.

Now that you’ve seen how to negotiate a car lease buyout, it’s important to consider your timing. While it’s more common for drivers to purchase a vehicle at the end of their leasing term, some contracts allow an early lease buyout before the lease is up. Here are the key differences between the two programs:

• The price of a lease-end buyout is usually set in the contract at the start of your lease. It’s based on the residual value at the end of the leasing term. In select cases, you can begin an end-of-lease negotiation to improve the price.
• An early lease buyout is a good option for drivers hoping to avoid mileage and service penalties. Pricing for this buyout option is determined by the amount you still owe on the lease and the vehicle’s estimated remaining value at the end of the term.

Considering a lease buyout and what comes next? Whether you're ready to explore new leasing possibilities or have just purchased your vehicle, we're here to assist all our customers in the Perry and Dublin areas. We're eager to connect with you, so feel free to contact us today about leasing options or continue your research online.