How far underwater is my car? Find your gap.
Enter your lease payoff and a realistic market value for your car to see whether you have negative equity — and how much. It is a quick estimate to help you plan your next move.
Estimate only. Not an offer of credit. Your actual payoff and value can differ from the figures entered.
What your result means
If your payoff is higher than the value, the difference is negative equity — you are upside-down by that amount. If the value is higher, you have positive equity you could put toward your next car. Either way, the number tells you which move makes sense:
- Small gap Extra principal payments can shrink it over time.
- Large gap Waiting for the balance to catch up, or keeping the car, often beats rolling the gap into a new loan.
- Positive equity You have flexibility to sell or trade on good terms.
Ready to act on your number? Tell us your situation and we will lay out the options — start at the lease buyout negative equity hub.
Using the calculator for a lease buyout
For a leased car, “payoff” means the buyout amount on your leasing company’s written quote. If that is higher than what the car is worth, buying it out means paying more than market value, and the calculator shows by how much.
Take the example numbers already in the calculator: a $24,000 payoff on a car worth $19,000. That is $5,000 of negative equity. Put another way, financing the full payoff would mean borrowing about 126% of the car’s value ($24,000 ÷ $19,000), before any tax or fees. Lenders look closely at that ratio, and each sets its own limits.
An “Upside-down” result is not an automatic “return it.” If returning the car would bring mileage, wear or disposition charges, subtract those from the gap to see what keeping it really costs. The mileage break-even calculator handles the mileage side, and the lease-end decision tool costs out buying, returning and trading with your state’s tax.
Get the payoff in writing
A figure from memory or an old statement can be off. Ask your leasing company for a dated quote; our guide to requesting a lease payoff quote lists what to ask for.
Value the car honestly
Use two or three sources for your exact trim, mileage and condition. A dealer’s retail asking price will make your gap look smaller than it really is.
Once you know your number, compare it against your other choices in what happens at the end of a car lease.
Frequently asked questions
How do I calculate negative equity?
Subtract your car’s market value from your lease payoff (buyout) amount. If the result is positive, that amount is your negative equity; if negative, you have positive equity.
What car value should I use?
Use a realistic figure — a private-party or trade-in value from a reputable valuation guide, adjusted for your car’s mileage and condition, not the optimistic retail price.
What should I enter as the payoff if I am leasing?
Enter the buyout amount from your leasing company’s written payoff quote, including any purchase-option fee it lists. Do not use the residual printed on your original contract, since the current payoff can differ. For the value, use a private-party or trade-in figure for your exact trim, mileage and condition.
Why does my result differ from a dealer’s number?
A dealer may be using a different value for your car, a payoff good through a different date, or folding in taxes and fees. Ask which figures they used. The calculator is only as accurate as the two numbers you enter.
Is this an offer or approval?
No — it is an educational estimate. Champion Auto Finance is not a lender; any financing is subject to lender underwriting.
Underwater on a lease buyout?
Tell us about your car and your lease payoff and we’ll work to get you the best rate possible, subject to lender underwriting — with clear terms, no obligation.
Keep reading
How This Calculator Works
Get your lease buyout quote
Tell us the car and the approximate payoff — we’ll come back with a realistic financing picture within one business day. No obligation.
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