VIDEO

What is Residual Value?

Published February 1, 2021

Key Takeaways

  • If you lease a car for three years, its residual value is how much it is worth after three years

  • If the car is worth less than the residual value at the end of the term, you are not liable for that difference

  • If the car is worth more than the residual value at the end of the term, FairLease will give you cash back to apply to your next lease


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