Lease Buyout Calculator: Should You Buy Out Your Lease?
Quick answer
Buy out your lease when buyout price + purchase-option fee + sales tax is less than what the same car sells for today — the difference is equity you keep. If the buyout costs more than the market value, return the car and let the lessor absorb the gap. The calculator below compares your contract numbers against median asking prices on live US dealer listings for 179 models.
By the CarWhere Research Team · Market data as of October 25, 2026 · No login, no lead form
Tax defaults to your state's statewide vehicle rate; add your local rate if one applies. Your lessor's payoff quote is the final word on tax and fees.
Worked example: a 2023 Ford F-150
The 2023 Ford F-150 is the most-listed three-year-old model in our data — the age a 36-month lease comes due. Its median asking price today is $39,968 across 15,617 listings, at a typical 43,306 miles. Take an illustrative contract with a $34,000 buyout price and a $300 purchase-option fee in Pennsylvania (6% statewide vehicle tax):
| Buyout price (from contract) | $34,000 |
| Purchase-option fee | $300 |
| Sales tax (6% of buyout) | $2,040 |
| All-in buyout cost | $36,340 |
| Market value today (median asking price) | $39,968 |
| Equity | $3,628 |
That lessee is $3,628 ahead by buying — either to keep the car or to sell it. Had the contract residual been $40,000 instead, the all-in cost would be $42,700, or $2,732 above market — and returning it would be the better call. Contract figures here are illustrative; the market numbers are real.
What three-year-old cars are worth right now
Median asking prices for the most-listed 2023 models — compare against the residual on your contract.
| Model | Median asking price | Typical miles | Listings |
|---|---|---|---|
| 2023 Ford F-150 | $39,968 | 43,306 | 15,617 |
| 2023 Nissan Rogue | $21,969 | 36,687 | 10,360 |
| 2023 Chevrolet Silverado 1500 | $37,355 | 47,356 | 8,375 |
| 2023 Jeep Grand Cherokee | $28,681 | 35,848 | 6,352 |
| 2023 Ford Explorer | $31,013 | 40,180 | 5,986 |
| 2023 RAM Ram 1500 Pickup | $36,754 | 41,481 | 5,638 |
| 2023 Chevrolet Traverse | $29,417 | 43,534 | 5,120 |
| 2023 Jeep Grand Cherokee L | $30,199 | 41,071 | 4,738 |
| 2023 Hyundai Santa Fe | $24,510 | 37,821 | 4,382 |
| 2023 Toyota RAV4 | $31,492 | 43,763 | 4,323 |
| 2023 Chevrolet Tahoe | $50,475 | 56,746 | 4,108 |
| 2023 Ford Escape | $22,956 | 32,333 | 3,925 |
How to decide, step by step
- Find the buyout price. It's the residual value on your lease contract (or the payoff amount your lessor quotes if you're mid-lease), plus any purchase-option fee.
- Add the tax. A buyout is a purchase, so sales tax generally applies. The calculator uses your state's statewide vehicle rate; add your local rate if you have one.
- Check the market. Compare against what the same model year lists for today, adjusting for your mileage versus the typical car.
- Decide. Positive equity: buy it, or get dealer offers on it. Negative equity: return it — the lessor carries the loss. Watch for excess-mileage and wear charges, which only apply if you return it.
Buying it out? Check its history first
You've driven it, but a lease car can carry records you never saw — title brands, prior damage, or auction history. Enter the VIN to see its title, damage, and price history before you sign the payoff.
$12.99 one time if you unlock the full report.
FAQ
Should I buy out my lease?
Buy it out when your all-in buyout cost — the residual (buyout) price from your contract, plus the purchase-option fee, plus sales tax — is below what the same model year sells for today. That gap is your lease equity. If the buyout is above market value, returning the car is usually the better move: the lessor absorbs the difference.
How is a lease buyout price calculated?
At lease end, the buyout price is the residual value written into your contract when you signed, plus any purchase-option fee the contract lists. Mid-lease, ask your lessor for a payoff quote — it sits above the residual because part of the depreciation hasn’t been paid down yet. Sales tax and registration are generally added on top.
Do I pay sales tax on a lease buyout?
Generally, yes — a buyout is a purchase, so it is taxed at the vehicle rate. This calculator defaults to each state’s statewide vehicle tax rate; local taxes can add to it, and a few states treat buyouts differently, so confirm the tax on your lessor’s payoff quote.
Can I sell my leased car to a dealer instead of buying it?
Often, yes: a dealer can pay off the lessor and hand you any amount above the payoff. Some lessors restrict third-party buyouts, so ask yours first. Dealer purchase offers sit below the retail asking prices this calculator uses, so collect more than one offer before deciding.
Where does the market value come from?
Median asking prices of live US dealer listings for each model and model year, via licensed vehicle-data providers, with the listing count and typical mileage shown. Data as of October 25, 2026. These are market medians, not an appraisal of your specific car — condition, trim, options, and mileage move the real number.
Is this the same as the lease-exit calculator?
No. The lease-exit guide compares ways to get out of a lease early (transfer, trade, early termination). This tool answers one question at lease end or payoff: is the car worth more or less than it costs to buy it?