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Discussion Starter #1
For reasons I won't go into, I didn't inspect the lease documents too well, or even do my homework about whether or not a lease was right for me. I'm aware that I made a huge mistake, and next time around I expect to be better prepared...

That said, the lease agreement says my 2002 C230K's residual value is $17,500 at the end of this year, but the KBB trade-in value for *excellent* condition estimates the car's value at $13,500 -- I have not gone over the mileage I paid for.

Why such a huge difference? I know the dealer has their own costs/risks involved in trying to sell the car, but $4,000 seems a bit high.

Will they expect me to make up this difference? Do I have any recourse? : /
 

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It depends on the exact wording of your contract. If the exact residual is set in stone, then you've come out ahead and deserve a nice aged bottle of single malt. Look everything over; it all depends on the contract you signed, there isn't really a standard lease agreement. There are many variables that tailor the deal to meet a certain set of needs dictated by the customer.
 

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Discussion Starter #4
Oh wait...

You're saying I've come out ahead if the lease says that I'm not liable for depreciation: I drove a car that depreciated faster than the bank thought it would, and they ate the cost?
 

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It depends on what the contract says. Gotta read through it and see what it specifies in terms of responsibility for depreciation.
 
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