highly qualified professionals and edited by Next, compare your findings with the cars residual value in your lease agreement. We may earn commission from links on this page, but we only recommend products we back. Do not sell or share my personal information. What's the best way to purchase a relative's car? Consider a sedan and enjoy more competitive pricing, attractive styling and dynamic driving manners. has become a bit more flexible thanks to new online information and resources. Anna Swartz is a senior managing editor and auto insurance expert at Policygenius, where she oversees our car insurance coverage. Find out the market value of your car. You know how it drives and performs, you have the history of its maintenance and repairs, if its been in an accident, and so on. We believe everyone should be able to make financial decisions with confidence. Use your research to justify your argument. Your dealership might charge you fees for buying out your lease. An early lease buyout gives you the option to purchase your leased vehicle before the end of the contract. A similar issue came up last year when we bought our leased Honda Odysseyand sold it to a private party. Taking over an existing lease also means that the original driver has already paid the down payment, so you wont have to. Every lessor handles these buyouts differently, but they might be subject to additional fees. Here is a list of our partners. Youll be paying $3,500 more than its worth. The offers that appear on this site are from companies that compensate us. Here are some tips to help you advocate for yourself when negotiating a lease buyout with the dealership: Before you try to negotiate the buyout price, find out who wrote the contract. I contacted another Los Angeles-area Nissan dealership. Its typically your residual value plus remaining payments. But how do you turn in your leased car without losing a small fortune? Of course, if your car is worth less than its residual value, you should just return it to the original dealer. However, when you do so, you might be losing a considerable amount of money. What the vehicle is worth on today's market. To transfer the lease, find someone to take it over, and follow Nissan Motor Acceptance Corporation (NMAC) direction to successfully transfer your lease.
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