Nevada Revised Statutes Title 8. Commercial Instruments and Transactions § 100.165. Lessee's right to submit bid for purchase of vehicle; effect of lessee's bid

(a) If the lessee tenders the full amount within the prescribed time and the lessor nevertheless elects not to sell the vehicle to the lessee, the bid establishes the residual value of the vehicle and the lessor must credit the amount of the bid against the lessee's liability under the lease.

(b) If the lessee fails to tender the full amount of the purchase price within the prescribed time, the lessee's bid does not establish the residual value of the vehicle and the lessor must credit against the lessee's liability the amount of the next highest bid.