How to Bargain a Buyout of a Lease

If you have decided to buy out your lease on your vehicle, you should prepare yourself to negotiate the buyout price. The price for an end-of-lease buyout is set when you first pick up the vehicle from the dealership. If your vehicle is no longer worth the buyout price, you have more leverage coming into the negotiations. Even if your car is worth more than the buyout price, if your buyout offer is greater than your end-of-lease balloon payment, you have a good chance in being successful in your negotiations.

Instructions

1

Determine the value of your vehicle. Have your vehicle appraised at a dealership for resale value and not the value it would place on the car to purchase it as a trade-in.

2

Shop around at local banks and credit unions to determine where you can get the best interest rate on a car loan to cover the buyout cost. If you have savings to cover the purchase, you will not need a loan.

3

Set an appointment with the leasing company or dealership to discuss buyout options. Present an offer for less than the amount you are willing to give for the vehicle.

4

Look over the counter-offer presented. If it is below the amount you are willing to pay, you may wish to accept the offer. Otherwise, you should respond with your own counter-offer.

5

Present the current value of the vehicle if the leasing agent is making offers above the value and is unwilling to negotiate. This is when knowing exactly what the car is worth should the dealer resell it can be to your advantage.