Your Residual Isn't Your Payoff
from The Lease End Minute
The residual value in your lease contract is rarely the check you write to buy the car. Here's what else goes into a real payoff quote. Key takeaways: The residual value in your contract is usually not the full amount you pay to buy the car. A payoff can add remaining payments, a purchase option fee, sales tax, and title or registration fees. Ask for an itemized payoff in writing, and compare that number, not the residual. Transcript: https://leaseendlive.com/lease-end-minute/your-residual-isnt-your-payoff/ Learn more about lease buyout financing at championautofinance.com. Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.
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The residual value in your lease contract is rarely the check you write to buy the car. Here's what else goes into a real payoff quote.
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