What is Residual Value?
Published February 1, 2021
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