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Can You Negotiate a Lease Buyout?

Woman Signing Paperwork
 

If you’re coming to the end of your lease term, you may be wondering, “can you negotiate a lease buyout?” In most cases, the answer is yes! End of lease negotiations can start based on the estimated buyout price in your leasing agreement, and from there, you may be able to work towards an even better price. Learn how to negotiate a car lease buyout with these car buying tips from Mercedes-Benz of North Olmsted.

How to Negotiate a Car Lease Buyout

When getting ready for your end of lease negotiation, follow these steps:

  1. Do your research – Your leasing contract should include the estimated value of your vehicle at the end of the term. Keep in mind that this is only an estimate, and market prices in Cleveland may have fluctuated since then. If the current value is less than the estimate, you’ll be in a better position to negotiate your lease buyout. 
  2. Contact your financer in advance – An important step in how to negotiate a lease buyout is to contact the financer directly. Whether this is the dealership or an outside source, negotiating directly often yields better results for Westlake drivers. 
  3. Make an offer – Once you know what you’re working with, you can negotiate a lease buyout offer. Proving that you’ve done your homework will give your offer the support it needs, helping you secure the number you’re hoping for. 

Choosing the Right Lease Buyout

Understanding your vehicle’s value is crucial to a successful end of lease negotiation, but timing also plays an important role. Depending on the terms of your lease agreement, you may be able to negotiate before your term is up, while other contracts do not allow for early buyouts. Consider these differences to see which scenario lines up with your terms:

  • With a lease-end buyout, the price is usually set in the contract at the start of your lease. This number is based on the end-of-term residual value. Doing your research as listed about will help you with end of lease negotiations here. 
  • If you’re hoping to avoid mileage and service penalties, an early lease buyout could be a good option for you in North Olmsted. This price is based on what you still owe and the vehicle’s estimated value at the end of the term. 

Lease or Buy with Mercedes-Benz of North Olmsted

Can you negotiate a lease buyout? At Mercedes-Benz of North Olmsted, you can! Our finance department is happy to work with Avon-area drivers to find an end of lease negotiation that works, so contact us today to get started!

 

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