[genesmasher]

Many reasons exist for buying out a lease. Maybe the owner wasn't sure he/she would still like the car, when they first leased it. Some people like to have an option to simply return it at the end of the lease, if it doesn't live up to expectations for whatever reason, and the extra money spent vs buy is justifiable to them. Maybe the owner's priorities changed and they no longer can/want to lease/buy another car - they would rather buy out their lease and keep the car that served their needs perfectly for the foreseeable future. And then there is an emotional attachment.

I intend to buy out my Volvo after the lease is up at the end of 2020, because its the easiest way for me to provide my son with transportation in college. I don't want to spend more money than I have to on another vehicle. Plus I would rather him drive the car I know was treated well by the previous owner (me). Of course if I didn't get a nice lease with low monthly payment AND a pretty reasonable residual, it would not have made sense. Some incentivized leases are very close to a straight purchase in terms of total $$ outlay.