Can I negotiate on the lease buyout price?

cusp22cusp22 Member Posts: 18
edited May 2020 in Land Rover
I am about 40% done with a 39 month lease. Can I negotiate on the lease buyout price between now and the time when the lease is up? Or is the lease buyout price set in stone?
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  • MichaellMichaell Moderator Posts: 259,657
    cusp22 said:

    I am about 40% done with a 39 month lease. Can I negotiate on the lease buyout price between now and the time when the lease is up? Or is the lease buyout price set in stone?

    It's pretty much fixed.

    The bank would rather sell the car to the dealer than to you.

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  • cusp22cusp22 Member Posts: 18
    Michaell said:

    cusp22 said:

    I am about 40% done with a 39 month lease. Can I negotiate on the lease buyout price between now and the time when the lease is up? Or is the lease buyout price set in stone?

    It's pretty much fixed.

    The bank would rather sell the car to the dealer than to you.
    Oh! I was under the impression that lease returned vehicles are auctioned off. I thought it was convenient to sell it to the lessee than auction. Apparently, I was wrong.
  • kyfdxkyfdx Moderator Posts: 261,811
    cusp22 said:

    Michaell said:

    cusp22 said:

    I am about 40% done with a 39 month lease. Can I negotiate on the lease buyout price between now and the time when the lease is up? Or is the lease buyout price set in stone?

    It's pretty much fixed.

    The bank would rather sell the car to the dealer than to you.
    Oh! I was under the impression that lease returned vehicles are auctioned off. I thought it was convenient to sell it to the lessee than auction. Apparently, I was wrong.
    They are auctioned off. If they are in good condition, then they go to a dealer only auction, where the dealers benefit from lower values.

    By not negotiating with end-of-lease customers, they'll still get a percentage that pay full residual value for their vehicle.

    Edmunds Price Checker
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    Did you get a good deal? Be sure to come back and share!

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  • cusp22cusp22 Member Posts: 18
    kyfdx said:

    cusp22 said:

    Michaell said:

    cusp22 said:

    I am about 40% done with a 39 month lease. Can I negotiate on the lease buyout price between now and the time when the lease is up? Or is the lease buyout price set in stone?

    It's pretty much fixed.

    The bank would rather sell the car to the dealer than to you.
    Oh! I was under the impression that lease returned vehicles are auctioned off. I thought it was convenient to sell it to the lessee than auction. Apparently, I was wrong.
    They are auctioned off. If they are in good condition, then they go to a dealer only auction, where the dealers benefit from lower values.

    By not negotiating with end-of-lease customers, they'll still get a percentage that pay full residual value for their vehicle.
    Thank you for the clarification.
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