Dear Terry,
I have a 2004 truck and the lease is ending soon. I’m way under the mileage they allow each year. Are there any options other than returning the truck? Should I try selling it?


Peter

Dear Peter,
In your case, I’d suggest you check a Web site like Edmunds.com to get the market value of your low-mileage truck and compare it to the residual value stated in your lease contract. If the value exceeds the residual, and you’re confident you could sell it on your own, it might be advisable to buy the truck for the residual value and then sell it, pocketing the difference.

Remember that to do this, you’ll likely need to buy the truck first, rather than lining up a buyer and then trying to negotiate the purchase with the lease company.

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