My lease term is coming up in a few months. The car has around 20k miles, whereas the lease was for 36k miles.

I like the car, and I intend to buy it, however the lease end purchase price is a bit high than current KBB.

I have also moved to a different state. Driving the car to the dealership where I purchased is not an option.

In your experience, do banks/dealers negotiate over the lease end price, if I tell them that I intend to return the car? The bank doesn't know about the low mileage yet.

Note: GM is the manufacturer

  • 3
    Banks don't usually lease cars and don't care about the purchase price. They just provide the dealer with money and receive your payments., It's usually the dealer who owns the car and who you have to buy it from. Jun 8, 2016 at 16:44
  • @DJClayworth I have also moved to a different state. I guess, in my case the dealer will ask me to ship the vehicle to them, which will cost me more $$$.
    – NRJ
    Jun 8, 2016 at 17:04
  • Raj, please edit that info into the question. Jun 8, 2016 at 17:05
  • Who's the manufacturer? VW? Toyota? The lease-end processes are probably different depending on who makes the car.
    – Chris
    Jun 10, 2016 at 13:31
  • @Chris GM is the manufacturer
    – NRJ
    Jun 10, 2016 at 13:32

3 Answers 3


Presumably, you would be negotiating with a dealership not with the bank that provided the money to you. You could try negotiating but, really, if the car has less miles on it than the lease buy out price assumes there's no reason for the dealership to negotiate downward.

But it never hurts to try, maybe the dealership has a glut of used cars in your model and doesn't want to take on another one. Maybe you could get them to throw in an extended warranty at no cost if you proceed with the buy out.

  • Yes, the contracts states clearly that there are no credits for leftover miles on the car.
    – NRJ
    Jun 8, 2016 at 17:05

I just went through this process and can share my experience. I was in the same boat as you: Car had lower miles than what was leased for, I intended to buy it, the buyout option stipulated in the lease agreement was higher than the KBB value.

They would not negotiate at all with the buyout amount. I tried negotiating with the dealer and the vehicle manufacturer (VW in this case). I thought I had a pretty strong argument too given everything that had recently happened with VW, but they wouldn't budge. Good luck!

  • Did you end up buying the car at full buyout amount?
    – Ben Miller
    Jun 10, 2016 at 13:15
  • @BenMiller Yes, I bought it. Even at a price over KBB it was still the best option. The other options they were giving me were to renew the lease in another new car (didn't want because I wanted to own the car), or purchase a worse car (didn't want because worse). The other factor was that I also had some cosmetic damage that I would have had to repair before turning in the car. My payments after the lease ended up being a little higher and I take the responsibility for maintenance, but now I own the car and can use it to trade when I pay it down a bit.
    – Chris
    Jun 10, 2016 at 13:30
  • 1
    Curious, what about the option to just walk away and buy a different car (from a different dealer)? Seems like you likely could've bought the same model car for under KBB price? Or are there (dis)incentives to make that less possible?
    – Joe
    Jun 10, 2016 at 19:15
  • If VW didn't budge, I don't expect GM to budge either.
    – NRJ
    Jun 10, 2016 at 20:45
  • @Joe That's totally possible, and would've been a good option. The disincentive, in my case, was that I had some damage to the car that I would've had to repair before turning it in. So my walk away option was already going to cost me about $1400 upfront, plus the price of whatever car I chose after that.
    – Chris
    Jun 12, 2016 at 14:28

If you have taken good care of the vehicle, it has no noticeable chips, stains, scratches, etc., then one of the other people commenting is correct that the dealer has little reason or motivation to negotiate too much with you, especially if the vehicle is well below the allowed mileage. They are likely going to be able to sell it at a premium any, regardless of whether it's to you or to someone else.

That being said, the answer is already "no" if you don't try, so you don't stand to lose anything by asking for a better price. If you're somehow stuck on the idea that your price has to be anywhere near KBB's valuation, that's just not going to happen. There is so much subjectivity on how those numbers are arrived at to begin with. KBB is a good resource as a baseline idea for a price, but you're never going to get a KBB valuation on a used car.

Remember that the dealer will be going over the car with a fine-toothed comb when you take it in, and the person doing it is trained to find any little thing they can that is to their advantage in negotiating with you (or, even worse, assessing extras you have to pay for that were not part of normal wear and tear in your lease).

Auto negotiations are not fair, simply because you're up against people who do this for a living, and a dollar to your advantage is a dollar to their disadvantage, so they will use everything they can to get the best deal for themselves.

Good luck!

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