What if my leased car is worth more than the buyout?

If your leased car's market value is higher than the buyout amount, you have lease equity. You may be able to capture it by buying the car and keeping it, buying it and reselling it, or having a dealer buy it out and credit the difference toward your next vehicle. Whether third parties can buy it directly depends on your leasing company's policy, and taxes may apply when you buy it. Get the buyout quote in writing and compare offers before deciding.