Every time you go to the dealership to turn in your leased car or truck, it is wise if you assess its value first. If you don’t do this, there’s a good chance that you will miss the opportunity to get a significant amount of cash. This predicament is particularly true for those who have leased traditional trucks and SUVs.
Oren Weintraub, the Authority Auto president, said the following: “That money, that equity, is yours. Period.” But of course, you cannot expect that all people know about this.
One should know that these leasing companies are capable of predicting the worth of vehicles at the end of their terms. We call that as the residual value, and it is the very basis for calculating the lease amount. Moreover, the residual value is the price of the car that you can opt to purchase at the end of its lease.