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- The lease payoff amount is the amount of money that you need to pay to buy the car before the end of your lease1. It is based on the projected residual value of the car plus the amount that you still owe on it, including any interest and fees12. The lease payoff amount may change depending on the day you intend to pay off your loan2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
Similar to the residual value, the payoff amount is the amount of money that the car would be worth if you were to buy it before the end of your lease. The payoff amount is calculated by considering the projected residual value of the car plus the amount that you still owe on it, including any interest.
pocketsense.com/what-is-the-difference-between-r…Your payoff amount also includes the payment of any interest you owe through the day you intend to pay off your loan. The payoff amount may also include other fees you have incurred and have not yet paid.
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WEBJul 8, 2019 · The payoff amount is similar to the car’s residual value, but not exactly the same. It’s the amount you would have to pay to buy the car at any given point during the lease. You can calculate it by adding the car’s …
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