Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

N00b Lease Buyout Question

JedijacobJedijacob LouisianaPosts: 3
edited May 28 in Kia
Hi, all. I'm looking hard at the 2020 Kia Stinger GT1 and have been reading up on lease buyout details. I'm completely new to the process and have a question I've been unable to find a good discussion on.

I see that the residual value and lease cash can depend on length and mileage terms of the lease. However, if I plan to buyout the lease as soon as possible, do those terms need to reflect my real driving habits? Do they matter in any other way than affecting residual value and lease cash? For example, I drive about 15 to 20k miles a year. Do my lease terms really need to reflect that if I plan on buying out the lease?

Any info is appreciated. Thanks.
Tagged:

Comments

  • MichaellMichaell ColoradoPosts: 165,702
    Jedijacob said:

    Hi, all. I'm looking hard at the 2020 Kia Stinger GT1 and have been reading up on lease buyout details. I'm completely new to the process and have a question I've been unable to find a good discussion on.

    I see that the residual value and lease cash can depend on length and mileage terms of the lease. However, if I plan to buyout the lease as soon as possible, do those terms need to reflect my real driving habits? Do they matter in any other way than affecting residual value and lease cash? For example, I drive about 15 to 20k miles a year. Do my lease terms really need to reflect that if I plan on buying out the lease?

    Any info is appreciated. Thanks.

    You want the shortest term, with the lowest mileage, if you plan to buy out the lease.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • JedijacobJedijacob LouisianaPosts: 3
    Thanks. That's what made the most sense to me, but I couldn't find anything that confirmed that. I appreciate it.
  • kyfdxkyfdx Posts: 171,447
    Jedijacob said:

    Thanks. That's what made the most sense to me, but I couldn't find anything that confirmed that. I appreciate it.

    The main reason for that... is the lease cash is higher on the 24 month lease. Resulting in a lower Adjusted CAP cost, and a lower buyout.

    Otherwise, the term of the lease has no effect, if you are immediately buying it out.

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

    Edmunds Moderator

Sign In or Register to comment.