When a Car Lease expires, Can the pay-off be negotiated?

Question

If yes how?

Answer 1

If you are talking about the Residual Buyout amount, this will depend on the lender. For the most part, major lenders such as GMAC, will not negotiate a buyout amount whatsoever, not even with the dealers if they want the car in their inventory.

BMW however, has been known to talk about reducing the amount with the customer, so the only way to know is to call your lender and ask them for your buyout (payoff) amount and if it can be negotiated. Good luck!

Answer 2

If it is a open end lease (most are not,  and you don't want it) there might be a possibility. If it is a closed end lease then definitely NO!

That would be like your mortgage company taking a short sale on your mortgage to you! They are not in the business to lose money.

Your best bet is to find out what the payoff is, and look to see if you can sell it for more.  If the payoff is less, let the lessee take the loss

Answer 3

It depends on the lender and the vehicle.

I would for sure try. Say the residual is 12k and you know the car is worth 10k, then call and ask what they would take. Try to speak with a manager.

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