Quick video: why the residual guess can leave money in your lease
A quick explainer on lease equity — your car's market value minus your buyout cost, why the residual was only a guess at signing, and how to check yours with real offers. From Champion Auto Finance.
Read the full guide → · All explainer videos
Transcript
There may be money hiding in your car lease. It is called lease equity. Here is what it is, in under a minute.
Lease equity is simple. It is your car's market value minus what it costs you to buy it. If the car is worth more than the buyout price, that gap belongs to you.
It exists because your residual value was a guess made at signing. If used prices climbed or you drove gently, the car can end up worth more than that written in number. To check yours, add your payoff plus taxes and fees, then compare that against real offers for your exact year and mileage.
Use firm quotes, not rosy online estimates. If there is equity, Champion Auto Finance helps you finance the buyout and keep it across New Jersey, New York, and Pennsylvania. Learn more at championautofinance.com
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