You love your leased Mercedes-Benz automobile. But now you’re coming to the end of your lease. If you don’t think you’ll be ready to say goodbye to your car when that time comes, don’t worry. You have options. A lot of our Escondido customers buy their cars when their leases end. Should you do this? A good first step in figuring that out, is learning how to calculate a lease buyout. Our helpful finance managers want our customers to make informed decisions. So, we’ve put together a convenient, step-by-step guide below on how to calculate car lease buyout.
How to Calculate a Lease Buyout in 4 Easy Steps
Figuring out how much your lease buyout will cost is not difficult. Our San Diego lease customers do it all the time. Here’s how to calculate your car lease buyout:
- Find your car’s residual value. “Residual value” is how much your vehicle was estimated to be worth at the end of the lease. This would have been calculated at the beginning of your lease, so, you’ll be able find this value in your lease contract.
- Figure out your car’s actual value. This might be the easiest step in this whole “how to calculate a car lease buyout” guide. That’s because there are tools all over the Internet to calculate this for you, like Kelley Blue Book or our very own “Value Your Trade” tool.
- Figure out which value is higher. If the actual value is higher than the residual value, great! You’re making a good investment. If the residual value is higher, try negotiating for a lower purchase price.
- Add sales tax, license, and registration fees. You’ll be able to find all of this information on the state’s DMV website. Add these taxes and fees into your calculated cost. If you still need help, don’t worry. Our finance team has helped numerous Escondido drivers just like you to figure this out.
Explore Your Options at Mercedes-Benz of Escondido
Now that you know how to calculate a lease buyout, check out our other tips about car buying, finance, and insurance. We make it easy for you to get behind the wheel of your next vehicle. You can even apply for financing online. We’re just a short drive away from San Marcos. So, drop by or contact us today!