There is a higher chance that your leased vehicle is worth more in the current market than what the vehicle buyout price is. This is something that new car dealers do not want you to know, by selling your leased vehicle to Auto Outlets USA, we will actually write you a check for the difference between what your lease buyout is and what your vehicle is worth. Best of all we will pay off your lease and you could walk away with a profit. All vehicle appraisals are based on vehicle condition and what work it needs.
The Value of Your Lease
While leasing a vehicle, you are paying monthly to drive a new car that you do not own. The monthly payments are based on the residual value of your vehicle, this is an estimate of how much the car is worth once your lease is up.
The lease residual is based on a certain percentage of the MSRP. For example, a leased sedan could have an MSRP of $25K with a residual lease value of 50% for a three-year lease, which would only make the lease residual of $12,500. At the end of the lease, you could simply end it, or purchase it for the remaining value. Or there is another option of an early buyout.
Used Car Shortage
The pandemic has created a used-car shortage, thus there is a big difference between the market value of your lease and the residual value of leased vehicles. Many leased vehicles have a residual value lower than what it is valued for, thus you can sell your lease to Auto Outlets USA and could make a profit.
How To Sell Your Lease and Make A Profit:
Take a look at your lease contract or reach out to who your lender is to check the buyout price.
Take a look at the current market of your vehicle, some tools such as KBB, or stopping into any Auto Outlets USA locations, we will write you a check on the spot for your lease.
Subtract the residual value from the current market price, this will tell you how much you could be making from selling your vehicle outright to any of our locations. You might be shocked at the thousands of dollars you could be making by selling your lease. Market conditions can change at any time if you are seeing that you could be making a hefty profit on selling your lease. Please stop into any of our Auto Outlets USA locations and we will write you a check on the spot and help take care of the rest.