Residual value is the retained value of a vehicle at the end of its lease. Banks who finance your lease contract normally set residual values. Using consumer tastes and data from past models, they predict a vehicle's value after a certain number of years. Factors such as gas prices and actual mileage can also play a role.

In most cases, you cannot negotiate the residual value of a vehicle. Still, make a list of lease vehicles with high residual value. You can then shop around for the best deals on these vehicles. The less a car depreciates, the less you will pay to lease it. In most cases, you are able to drive a more expensive vehicle and pay less than someone buying the same vehicle. 

So come in today and let our knowledgeable professionals help you with all of your lease related questions! Â