Lease Buyout? Check Online Prices First!

Car Lease Buyout? Check Online First, Says New Jersey Salesman New Jersey car salesman Joseph Rodriguez is urging consumers to shop around before buying out their car leases. In a recent short video, Rodriguez highlights the potential for significant savings by comparing lease buyout prices with the market value of similar pre-owned vehicles. "So many people make this mistake," Rodriguez says in the video. He explains that lease contracts often include a residual value, which is the price at lease end. However, this price might not reflect the actual market value. Rodriguez uses the example of a 2022 Hyundai Santa Fe, stating that if the residual value is significantly higher than the price of a comparable used car online, it's better not to buy it out. While acknowledging that the option to buy out a lease exists, Rodriguez stresses the importance of research. He suggests checking online marketplaces like cars.com to find comparable vehicles and compare prices before making a decision. By doing so, consumers can avoid overpaying and potentially save thousands of dollars. Rodriguez's advice serves as a timely reminder for car buyers to conduct thorough research before committing to a lease buyout, allowing them to make informed financial decisions.