Yes. At the end of your lease term, Portsmouth drivers will have many options, from walking away from their contract, to reinstating it, to opting to finance the remaining value with the intent to own. If you're interested in how to negotiate a car lease buyout, read on for a thorough breakdown of everything you need to know. Then get in touch with Audi Stratham to initiate an end of lease negotiation. Have further questions? Reach out to our finance department today. Don't forget to apply for pre-approval to streamline the process.
How to Negotiate a Car Lease Buyout
Can you negotiate a lease buyout? Yes. Here are the steps that Nashua drivers will need to take.
- Do your research ahead of time - Before deciding on an end of lease negotiation, you'll need to do your math to determine if it's a good investment. Look at your existing lease contract. There is almost certainly a predetermined estimate of how much the vehicle will be worth at the end of your contract. Compare that figure with the market value of your vehicle. If the market value is significantly lower, a lease buyout probably isn't worth it, unless you can leverage that information for a better deal.
- Contact your lender in advance - See if you can get an offer from a financier in Manchester that you can then use as leverage when negotiating for a rate and price when you come to our table for negotiations.
- Make an offer - Once you've done the above, make an offer given what you know about the market rate of the vehicle you're pursuing and whatever pre-approvals you've received from other lenders.
Choosing the Right Lease Buyout
Now that you know that you can negotiate a lease buyout, and you know how to negotiate a car lease buyout, it's time to learn about the different types of lease buyout strategies. Let's take a look:
- Most lease buyouts are end of lease negotiations. This means that the estimated value of your lease vehicle at the end of your lease term is prenegotiated. When your lease is up, you'll have the option to finance the remaining value of the vehicle with the intent of ownership.
- If you quickly fall in love with your leased car, know that you'll want to finance it, and don't want to pay over-mileage fees, an early lease buyout may be a good option. The downside is that you may have to pay a penalty to break your lease so you can begin financing your vehicle.
Lease or Buy with Audi Stratham
If you have more questions about how to negotiate a car lease buyout, or you're still unsure about the differences between an end of lease negotiation and an early lease negotiation, give Audi Stratham a call at 888-640-6786. We'll happily walk you through the steps. Have other questions related to car finance? Be sure to explore our site for more helpful guides on topics like whether to buy or lease and more!
