This is a typical lease, where the consumer does not owe a difference if the actual value of the car at the end of the agreement is less than the residual value that was set at the beginning.

you can use the equity toward a new vehicle or lease agreement. Conversely, if the trade-in value is lower than the buyout price, the remaining balance may be rolled into your new contract ...

Related: Is Now the Time to Buy Out Your Car Lease? First, call the lender to ... and some require you to sign a specific agreement for the extension that sets out terms. Being able to get an ...

The main difference between leasing and taking out a car loan is that a loan leads to eventual ownership, while a lease essentially acts like an extended rental agreement. Car leasing is a popular ...

Review the lease agreement to see whether you can spend the money on additional, unused miles returned at the end. But you won’t get a refund if you return the car with fewer miles than the ...