Can you explain to me my lease buyout cost?

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I live in Southern California and my car’s lease is going to end in September. My goal is to buy my car out right by the end of my lease term.

In my contract it states that my residual amount at the end of my lease is $13,510. From my understanding, thats the total cost to buy my car excluding the processing fee, taxes, etc. But when I went to my dealership today to talk about the end of lease options, they said my vehicle price is around $15,200 (without the fees, taxes, etc).

I don’t understand how that became my vehicle price. This is my first car so I’m not sure what I’m getting into. Could someone please explain this to me?

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MariiMei

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Posted: 1 year ago
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