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Can You Buy Out a Leased Car?

Woman shaking mans hand over a car contract clipboard with car keys
 

If you’re trying to decide between buying and leasing a new INFINITI in Los Angeles from the team at INFINITI of Downtown LA, you might want to know—can you buy out a leased car at the end of its term? The answer is usually yes! In fact, the buyout price is often listed in your INFINITI lease contract—though of course that price isn’t always set in stone. Find out how to calculate the price of your lease buyout, and how to negotiate the buyout of your leased car below, then contact our dealership with any further questions.

 

Should You Buy Out a Leased Car?

While you almost always can buy out a leased car, one question remains: Should you buy out your leased car? Before learning how to negotiate buying out your lease, you’ll want to ensure that it makes monetary sense.

With your INFINITI lease, you might notice a Payoff Amount or Buyout Amount listed in your monthly statement. This amount is what it would cost to buy out your leased car in the current month, and includes the residual value of the vehicle, total remaining payments, and possibly a car purchase fee. You can also follow these steps to determine a fair buyout price for your leased INFINITI:

  • Determine the residual value of the vehicle: This is the estimated future value of your vehicle by the time the lease contract ends, as calculated at the beginning of your lease. It can be found in your lease contract.
  • Determine the vehicle’s actual value: Since your vehicle has probably depreciated since beginning your lease due to the normal wear and tear of driving around Glendale and Downey, you should use a service like our Value Your Trade tool to assess the current market value of the vehicle.
  • Compare the vehicle’s residual and actual values: If the actual value of the vehicle is higher than its residual value, buying out your lease could be a great value. Even if it’s not, you might be able to negotiate for a better price as you buy out your leased car.
  • Account for licensing and registration fees, as well as tax: As you perform these calculations, be sure to account for the various costs of ownership, like license and registration fees, vehicle taxes, and others. When you buy out your leased car, you’ll be responsible for the future costs of owning it.

How to Negotiate to Buy Out a Leased Car

If the residual value listed in your INFINITI’s lease contract doesn’t reflect the vehicle’s real market value, prepare to negotiate to buy out your lease. Follow these steps to help make your negotiation a success:

  • Do your research: You might’ve already done some research when looking up the vehicle’s market value—but try using third-party tools as well, like Kelley Blue Book, to discover the value of similar models as they go up for sale.
  • Contact your lender: Your dealership might not be the final determiner of the lease buyout price. It’s more likely that the buyout price was determined by whoever financed your lease—so check your monthly statements to see who you’ll be negotiating with.
  • Make your offer: If you’ve found good evidence that your vehicle has a lower market value than the stated price in your contract, it should be simple to negotiate a lower lease buyout price. However, there’s no guarantee you’ll get the price you’re asking—but if you can show your lender that similar models are available for less in other places, most will want to work with you instead of seeing you take your business elsewhere.

Buy or Lease a New INFINITI with INFINITI of Downtown LA

Find out more about buying out a leased car, including whether you should buy out a leased car, with the expert finance team at INFINITI of Downtown LA near Van Nuys! You can also learn more about our INFINITI lease return process, figure out your monthly payments with our Lease Calculator, and more. Or if you opt to buy an INFINITI outright, we make it easy to apply for financing, too! Call us at 213-927-5029 today.

 

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