Can You Negotiate a Lease Buyout?

Tips for End of Lease Negotiation

When wanting to know how to negotiate a car lease buyout, there are a few things you should keep in mind to make sure you get the price you want and keep that daily commute to San Marcos just the way you want it:

• Research vehicle prices: Typically you’ll see an estimated buyout price for the end of your lease contract included in the agreement. If you find that the current market value for the vehicle is much lower than that designated price, you’ll have the leverage to negotiate an even better price.
• Speak with your vehicle lender: If you financed your car through the dealership, you can go directly to them. If you used a bank to finance your vehicle, your dealer may not be the sole determiner of the lease buyout price. Contact your lender directly to see if they’ll accept a lower price for the vehicle and to see if there are any car lease early termination fees that you may need to pay. With this knowledge, you can begin your end of lease negotiation.
• Make an offer: After you’ve done your research, approach your lender with an offer. If you can show that the amount in the contract is inaccurate, they will generally agree to a price closer to what you’re asking.

For more information and car buying tips, feel free to contact the friendly finance specialists at MINI of Escondido.

Buy or Lease a Vehicle From MINI of Escondido

If you live around Carlsbad and are thinking of purchasing or leasing a new vehicle, give the sales team at MINI of Escondido a call. We can explain further how to negotiate a car lease buyout and make the end of lease negotiation hassle-free. Now that you can negotiate a lease buy out, what are you waiting for? Contact us today. We’re always happy to help! Want to find more car-buying tips and tricks? Check out our online guides to learn what CPO means and more!