yaggaz
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Okay let's say I get a 2021 Nissian Rogue Sport for 25000 and lease it for 36 months. I have almost 800 in credit score as does my wife and have no other debts. I put down 11,000 right at the start so my monthly lease payments are 33 dollars.
I choose to buy at the end of 3 years so does that mean the buyout price will be 25,000 - 11,000 - 1188(The 36 monthly lease payments) So would the buyout price to own it be 12,812?
I've read a dozen sites about it and I still don't quite understand it. Especially the residual value thing.
My motive is to have a new car and own it for at least 15 years but have low payments.
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Cool GTX
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/18 17:54:04
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 I've never seen it be a better deal to lease - if your intent on buying the vehicle Basically your lease is paying the negotiated depreciation & interest charges - for your use of the vehicle At the end of a Closed-End lease .... you then have a predetermined "Future Value" - this option to purchase the vehicle or turn it back in at the end of your lease. The Close-End lease is a long term test drive .... & the vehicle has a fixed predetermined value at the end of the lease ... this number uses Historic & current data (example) If a $36K car is worth (based on historical data) $22K after 36 month @ 10K miles a year ....... you are paying $14K ... plus interest - divided by number of payments. ---> So, starting price does matter ... discount from MSRP &/or down payment When getting a lease .. you need to negotiate: 
- the Starting price for the vehicle ... Not MSRP ... harder in this current situation - the interest rate ..... your still financing it - the allowed miles ..... 10K/yr or whatever is on the contract ..... you know you will drive more than that .... change your contract & see what the payment changes to - the Value of the vehicle at end of lease, is usually dictated by the lease Corp. - the "fine" for excess miles is dictated in the contract .... over xxx miles - charge is $0.60/mile .... whatever you agree to by signing contract The advertised advantage of the lease is what they refer to as a low down payment .... not so low IMO At the end of the lease ... if "excess wear & tear" are present .... you pay for that .... With good credit .. I'd just get a loan ... shop the rate on the loan ... harder to negotiate the price down in this environment
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Grey_Beard
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/18 19:27:57
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If you get a loan with a bank, you can negotiate the price as a cash transaction. All other things says before me is a good synopsis of how leading works.
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XrayMan
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/18 19:56:21
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If you lease, then give it back after the 3 years are up for example. If you want to keep it, you will pay a lot. Best thing to do is to buy, and wait for the APR to be 0.9 or less. This will save you thousands of dollars.
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/18 21:35:58
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All I am concerned about is my monthly payments being low, whether I pay more in the long term is not a concern to me. I would like to know that at the end of a three year lease on a 25,000 dollar car that I put down 11,000 on, is it 14,000 to buy it? Or is it gonna be less due to depreciation?
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rblaes_99
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 13:01:25
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yaggaz
All I am concerned about is my monthly payments being low, whether I pay more in the long term is not a concern to me. I would like to know that at the end of a three year lease on a 25,000 dollar car that I put down 11,000 on, is it 14,000 to buy it? Or is it gonna be less due to depreciation?
who cares about low payment? if the interest rate is low on a purchase loan sinking $11k in cash up front on a lease makes no sense. lots of things change the $ math on a lease (like higher insurance costs) and overruns on mileage if you go over.
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Cool GTX
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 15:37:34
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☄ Helpfulby yaggaz 2021/07/19 18:56:38
Close-End lease - the vehicle has a fixed predetermined value at the end of the lease ... this number uses Historic & current data - the Value of the vehicle at end of lease, is - usually dictated by the lease Corp.
"They" (the lease company) look in their magic 8-ball & set the "future value after depreciation". This is why brands of cars that historically hold their value better than average are cheaper to lease ... less depreciation. I know someone who recently at the end of their lease - Sold the car for $3000 more than the payoff for the lease & they would of had to pay extra for all the miles over the allowed miles. They walked away with an extra $3000 in their pocket 
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demcmurray
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 17:09:58
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Wanting to know the best options for buying a gpu is what brought me here. Learned how to buy a car. Thanks guys.
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genesis2024
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 18:08:24
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Don't lease a car, you will regret
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XrayMan
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 18:44:57
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genesis2024
Don't lease a car, you will regret
+1
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 18:57:44
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rblaes_99
who cares about low payment?
 Hrm, maybe people with low income who can't afford large payments?
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 18:58:19
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genesis2024
Don't lease a car, you will regret
I tend to just brush over comments like this unless there is some explanation as to why you feel that way lol
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 18:58:44
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demcmurray
Wanting to know the best options for buying a gpu is what brought me here. Learned how to buy a car. Thanks guys.
This gave me a great laugh after a horrible day at work. Thanks
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ty_ger07
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 19:08:19
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yaggaz
rblaes_99
who cares about low payment?
Hrm, maybe people with low income who can't afford large payments?
Then why do you have $11,000 to dump at the start, with nothing to show for it at the end?
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 21:01:37
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ty_ger07
yaggaz
rblaes_99
who cares about low payment?
Hrm, maybe people with low income who can't afford large payments?
Then why do you have $11,000 to dump at the start, with nothing to show for it at the end?
You have no idea what we scraped and sacrificed to save up that much. Maybe I should edit my headline to say "No worthless replies from idiots please"
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demcmurray
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/19 21:30:45
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Am I wrong for thinking everyone wants low or no payments?? I've been living wrong my whole life.
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/20 16:50:11
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demcmurray
Am I wrong for thinking everyone wants low or no payments?? I've been living wrong my whole life.
If you spent years saving up a huge down payment you've EARNED low payments. As for no payments, nobody here mentioned that at all.
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/20 16:55:01
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This community has turned really toxic in the last year. You can't even start a thread and have a polite conversation about a subject without salty, bitter people coming in and taking a dump on you. If people don't have anything worthwhile to add to the conversation except trolling and snarkasm (Think I just made a new word) then scroll on by.
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/20 16:57:28
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Cool GTX
Close-End lease - the vehicle has a fixed predetermined value at the end of the lease ... this number uses Historic & current data - the Value of the vehicle at end of lease, is - usually dictated by the lease Corp.
"They" (the lease company) look in their magic 8-ball & set the "future value after depreciation".
This is why brands of cars that historically hold their value better than average are cheaper to lease ... less depreciation.
I know someone who recently at the end of their lease - Sold the car for $3000 more than the payoff for the lease & they would of had to pay extra for all the miles over the allowed miles. They walked away with an extra $3000 in their pocket
Thank you so much for the information and for how you and the other mods set an example of how mature people should talk to each other. I'm curious as to how somebody walks away getting paid instead of oweing something lol that is amazing. It feels like you can't work out the buy amount at the end of a lease because you don't know whether the residual on a specific model of car will be low or high.
post edited by yaggaz - 2021/07/20 17:36:17
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ty_ger07
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/20 20:48:42
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yaggaz
ty_ger07
yaggaz
rblaes_99
who cares about low payment?
Hrm, maybe people with low income who can't afford large payments?
Then why do you have $11,000 to dump at the start, with nothing to show for it at the end?
You have no idea what we scraped and sacrificed to save up that much. Maybe I should edit my headline to say "No worthless replies from idiots please"
The most obvious option is to buy a used car for less than $11,000 and have zero monthly payment; that was my point.
post edited by ty_ger07 - 2021/07/20 20:57:21
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/20 21:21:02
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ty_ger07
The most obvious option is to buy a used car for less than $11,000 and have zero monthly payment; that was my point.
Okay thank you for clarifying. We don't want a used car. We've suffered with breaking used cars forever now. It's why it took us so long to get that amount, we were saving. But why you say getting a new car is "nothing to show for it?"
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ty_ger07
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/20 21:34:25
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After paying $12,188, do you own it? No. What do you have to show for it? It's still their car and you still need to negotiate to buy it. It's risky and unknown whether you will make or lose money in the end, and it's not like a car that you own (not even partially!) which you can sell if you decide you don't like it. At the end of the lease, it creates zero value for you; either you walk away with nothing, or you commit to spending more. You shouldn't expect to make/save money in the process. The lease company is still in business because they have proven to be good at ensuring that the numbers work in their favor. Just because someone made/saved money in the process, doesn't mean that you will have that same experience. A lot more people lost money in the process; the odds aren't in your favor. If you want the feeling of having a car you can't normally afford, I guess it is a fine option. If you want to save or make money, it's not a great option.
post edited by ty_ger07 - 2021/07/20 22:04:50
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/21 10:12:07
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Thanks but none of this answers my original question. How do you calculate the buyout amount at the end of a lease for a 25,000 car. I'm going to assume you can't and that dealers make it up when you go to lease one.
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rblaes_99
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/27 09:07:50
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residual buyout is calculated at the beginning of your lease, so, you’ll be able find this value in your lease contract. dealer can tell you this $ in his sleep.
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transdogmifier
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/27 09:27:08
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I've found that leasing a car is best left to corporations. Some people like it because every 3 years they get a new car, but when I leased I didn't like feeling like I dumped ...a lot of money...into something I get NOTHING out of. I'm not exactly answering your question, but I'd take your money and put it as a downpayment on a new car to OWN. A honda civic sedan (new) starts at about 22000 dollars...you have 11k to put down? That's a significant amount... You're looking at about 220 a month for a payment (60 month plan)...which isn't 'cheap', per se, but it's better than having nothing to show at the end. Bear in mind that if your area has a property tax on cars *YOU* are responsible for that as well...the leasing company won't pay it. You have to. Edit: for clarification, I leased a Mazda CX-3 in 2019....it was a 30,000 dollar car, I put down 4k ....my payments were 340ish a month, the buy out was ~17000...I did not like this arrangement. I didn't like the car in the end .....and I wasn't going to buy it.... I'd rather have put the money on a different car to own it.
post edited by transdogmifier - 2021/07/27 09:36:00
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rblaes_99
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/27 10:59:56
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yea, I never play the "what kind of payment are you looking for" game with the dealers. the race for the lowest payment possible is more often than not a bad deal for the buyer.
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rblaes_99
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/07/29 04:40:13
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yaggaz
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/08/03 18:06:43
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transdogmifier
I've found that leasing a car is best left to corporations. Some people like it because every 3 years they get a new car, but
when I leased I didn't like feeling like I dumped ...a lot of money...into something I get NOTHING out of.
I'm not exactly answering your question, but I'd take your money and put it as a downpayment on a new car to OWN.
A honda civic sedan (new) starts at about 22000 dollars...you have 11k to put down? That's a significant amount...
You're looking at about 220 a month for a payment (60 month plan)...which isn't 'cheap', per se, but it's better than
having nothing to show at the end.
Bear in mind that if your area has a property tax on cars *YOU* are responsible for that as well...the leasing company
won't pay it. You have to.
Edit: for clarification, I leased a Mazda CX-3 in 2019....it was a 30,000 dollar car, I put down 4k ....my payments were 340ish a month,
the buy out was ~17000...I did not like this arrangement. I didn't like the car in the end .....and I wasn't going to buy it....
I'd rather have put the money on a different car to own it.
Thanks everyone. Gave me lots to think about. I think leaning towards buying now and maybe saving a little more as car prices are bloody skyrocketing at the moment.
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stelladaurmond
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/08/10 10:18:14
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A few years ago I paid 10k for a used car with low miles. if you have 11k buying is certainly the way to go.
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Nereus
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Re: I'm dumb, can somebody please explain the buyout option at the end of a car lease?
2021/08/10 13:16:59
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Can't answer you about leases - whenever possible, I prefer to buy things outright, and I don't like the idea of being beholden to drive a limited amount of miles on something I sort of own but maybe I don't. I also think buying recertified cars is a better option, since brand new cars drop a large percentage of their value the moment you drive them off the lot, whereas recertified still has a similar warranty but with a cheaper price.
I mainly commented to say I like the term "snarkasm".
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