We are looking at leasing a Mazda CX-90 Phev and would like to buyout asap. I researched Oregon laws on leases regarding early termination fee… what does this mean?:
“Oregon law allows for an early termination fee on a car lease, but it can’t exceed 1.5 times the monthly rent. The fee must appear in the rental agreement”
Does it mean for simplicity sake say we get a lease for 36 months with a monthly lease payment of $600 which would be a total of $21,600 total for the 36 months… so they can only charge us 1.5% of that total amount? … which would be $324 if we buyout the lease asap?
As @max_g stated, early term charges would not apply to you since you’re exercising your purchase option. Your buyout would be approximately your adjusted cap cost plus any purchase option fee plus tax plus applicable fees. See your lease agreement. If you want an accurate calculation of your buyout, PM me.
