Before contacting the dealership, locate your original lease agreement. Find the , which is the fixed price you agreed to pay for the car at the end of the lease. Compare this number to the current market value using tools like Kelly Blue Book or Edmunds. If the car is worth more than the residual value, you have "equity" and should consider buying. Timing the Purchase You typically have two options for timing:
You can buy the car before the lease ends. This requires paying the remaining lease payments plus the residual value. This is useful if you want to avoid upcoming mileage penalties. Secure Your Financing best way to buy your leased car
While the residual value itself is usually non-negotiable, other costs are not. Check if this can be waived. Before contacting the dealership, locate your original lease