At the outset, we agree on a lease-end residual value for your car. While your lease is in place, you make payments based on the difference between the amount financed and that residual value. When your lease expires, you have four options:
- Pay the residual and own the car
- Sell the car privately, pay the residual, and keep any difference
- Trade the car in, the dealer pays the residual, and you keep any difference
- Refinance the residual through a new lease without a large cash outlay, and continue to own the car