How can I negotiate a price at the end of a lease buyout?

I love the car I leased, and I want to buy it at the end of the lease term. Can I negotiate a price on this lease buyout?

Answer
That’s great that you loved the car!
Yes, you can negotiate a price on a leased car at the end of the term. Known as a lease buyout, this allows you to own the car outright based on the price you negotiate.
You’ll want to research a fair price for the vehicle. Then, contact the leasing bank before the end of your lease to make an offer. These negotiations often take time, so planning in advance can save you a headache at the end of your term.
You likely needed full coverage car insurance for your leased vehicle as a part of the terms of the agreement. When you own the vehicle outright, you can decide whether you still want the maximum coverage or to change your policy.
Whatever you decide, shop for insurance using Jerry! Jerry is an insurance broker app that does comparison shopping for you! Just input your information, then Jerry will present you with up to 50 quotes from top providers. Once you make your choice, Jerry will take care of all the paperwork and changeovers!
Eric Schad
Answered on Oct 29, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
thumb-up

Did this answer help you?

Ask us a question by email and we will respond within a few days.
thumb-up

Have a different question?

You can meet us at our office and discuss the details of your question.
Let Jerry’s experts help you find savings on your car insurance!
No long forms or spam · Get quotes from 40+ carriers
Find insurance savings (100% Free)
rating primary
4.7/5 Rating on App Store