What is a lease buyout amount?

A lease buyout amount is what it costs to purchase your leased car from the leasing company. It's usually the remaining payments plus the residual value set in your contract, sometimes plus a purchase-option fee and taxes. Some leasing companies quote a different amount for third-party buyers like dealers than for you. Request an official quote from your leasing company, then compare it with what the car is worth to see if you have equity.