Can You Negotiate a Lease Buyout?

If you haven’t yet made a decision between buying and leasing, just remember that you can almost always buy out your lease at the end of your contract! In most cases, the buyout price is listed in your contract—but these prices are not always set in stone. Can you negotiate a lease buyout at your local Rusnak dealership? In many cases, the answer is yes—and we’d be happy to show you the ins and outs of the process.

How to Negotiate a Car Lease Buyout

If you’ve really come to love the vehicle that you’ve been driving—or you’d like to avoid any lease buyout fees that you’re expecting—buying out your lease may be a better option than starting a new lease or purchasing a different vehicle. However, it’s important to note that your contract’s listed lease buyout price is generally based on the model’s expected depreciation over the time that the vehicle has been in your possession.

If this price doesn’t reflect the vehicle’s real market value—for example, if the vehicle has depreciated more quickly than expected—then you may be able to successfully negotiate a lower price.

There’s nothing too complex about learning how to negotiate a car lease buyout. Just remember to take these steps:

1. Do your research. Explore the lots at local dealerships near Pasadena and Thousand Oaks to find out how much money similar models are fetching when they go up for sale. You can also find related information on websites like Kelley Blue Book.
2. Contact your lender. Your dealership may not be the ultimate determiner of the lease buyout price. In fact, it’s more likely that the lease buyout price has been determined by whoever financed your lease. Check your monthly statement to find out who you’ll really need to negotiate with!
3. Make your offer. If you’ve done your research and found evidence that the vehicle is worth less than the stated price in your contract, you should have no trouble negotiating to secure a lower lease buyout price. Of course, there’s no guarantee that you’ll get the price that you’ve requested. Nevertheless, if you can show the dealership that similar models are available for less money at other locations, most will be inclined to ensure that you continue to hold the model that you’ve been leasing (instead of spending your money elsewhere).

Choosing the Right Lease Buyout

If you’re worried about incurring fees associated with returning a leased car in less-than-stellar condition, an early lease buyout may be the right option for your situation. After all, you can avoid lease return fees by purchasing the vehicle outright.

With that said, early lease buyouts are generally seen as desperate, last-ditch measures. The dealership or lender may suspect that you’re in a bad position. You probably won’t have much room to maneuver in any end-of-lease negotiations. If you need to take care of services or repairs before your lease draws to a close, you might consider a lease extension.

It’s much easier to negotiate if you’ve kept your model in good condition and you’re not at risk of incurring fees during a standard lease return. Lease-end buyouts are more common than early lease buyouts, and you’ll be in a much stronger position when you sit down at the bargaining table.

Lease or Buy with Rusnak Auto Group

Now that you’ve seen how to negotiate a lease buyout, you might want to get in touch with our team to talk through your next steps! We’re here to help, so don’t hesitate to reach out or visit one of our Westlake Village-area dealerships to speak with an auto finance expert.