Maryland math- If you have the option to buy your leased car for $10K & option cost is $500, but the tax is 6%, so it would have to be worth $1.1K to make a profit, a 10% mistake by the lease company. Because of transaction costs, the residual would have to be really wrong.
This is assuming you like, sold it to CarMax immediately. And CarMax takes a $1K to $2K off what you'd get selling it yourself. So while it is theoretically possible to have equity in a leased car, I'm thinking it is fairly unlikely.
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