Residual value explained briefly for lease drivers
A quick explainer on what residual value means for your car lease, why it sets your lease-end buyout price, and when buying out your lease can pay off. From Champion Auto Finance.
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Transcript
What is residual value? Here's what every lease driver should know in under a minute. Residual value is the predicted worth of your leased car at the end of your lease.
It's locked in the day you sign. That number matters because it's also your lease buyout price, what you'd pay to keep the car. If your car is worth more than its residual value, you have equity, and buying it out could be a smart move.
Champion Auto Finance helps you finance your lease buyout across New Jersey, New York, and Pennsylvania. Learn more at ChampionAutofinance.com.
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