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It's all in the contract " (3) Adjusted Lease Balance: The Adjusted Lease Balance equals the Adjusted Capitalized Cost minus the sum of all accrued monthly Depreciation for each Monthly Period before termination of this Lease and the Monthly Period in which this Lease terminates." The adjusted...

Clause 32. PURCHASE OPTION. You may purchase the Vehicle from us if you are not in default, on an AS-IS, WHERE-IS basis, at any time before or at the end of the Lease Term. To purchase the Vehicle, you must pay the sum of (a) the amount in Section 14 if you purchase the Vehicle at the end of...

From the language of the contract - yes. I had experts chime in on my lease. https://forum.leasehackr.com/t/tesla-cybertruck-lease-buyout/622627/4

I will lease and buyout in a month or two. Leasing for 2 years is insane. You pay $22K in interest (because the MF is basically 18%) and only $5K in depreciation because of the high RV. I think 3 year leases are slightly better with 14% equiv MF but still terrible.