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Smart Shopper Purchasing at the End of Your Lease
716 messages, Last post on Nov 30, 2009 at 8:03 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: gabbo (Nov 11, 2008 12:16 pm) You asked for advice, I gave it. YOU chose the word, I didn't. I asked you to clarify your use of the word. The reply you gave indicated that you in fact were not fleeced, or lied to or dealt with in an underhanded manner. The only thing that I "berated" you for was making it look as if your dealer did something wrong,which turned out not to be the case. As for leaving you with a bad taste,that was not my intention. You do have to undertstand that when you come here and post something, you will be challenged to be accurate. |
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It's easy to misconstrue the message when there is no audible or other visual input besides the written word. I think we all understand the situation so we can drop the accusatory tone and resume our usual amicable and supportive dialog.  tidester, host SUVs and Smart Shopper |
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| My 39 month lease on 2006 M35x is up in about 2 months. I will have about 33k miles with a 39k mile allowance. The car is not showroom perfect but I don't think that excessive wear will amount to more than about $500-600. The pre-return inspection is in 2 weeks. Residual, including $150 purchase fee but exclusive of tax is $30,200. Cars with approximately the same mileage are posted on Autotrader.com in a range from 26k-33k. I LOVE the car, which has been trouble-free. If I buy it, I would likely keep it another 3-4 years. Financing is not an issue, but I might want to get an extended warranty (don't know the cost). Any advice? I am really ambivalent between buying this or a new car for about the same price (32k). | |
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Through a fortunate situation I have been given a free car to use so I am currently researching what to do with my current leased car. Here are the specs: -07 Saturn Vue- 39 month lease up in 12/09- 15k miles/per year -currently has 27k miles -residual- $11,500 -Monthly Payments- ~$350 -Edmund's Private Party- $11,800 -Financed through GMAC From what I have read, it looks like negotiating the buyout price with GMAC is an option. I would need to turn around and sell the car or go to CarMax- what fees are associated with this? What do you see my best options being? I would like to do this sooner than later since every month it is costing me money. Any suggestions would be great! Thanks!
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Replying to: boozoo99 (Nov 13, 2008 7:16 pm) GMAC won't negotiate with you, if you are still on the hook for a year's worth of payments. They have no incentive to do so. Call GMAC and get the current payoff. That is what you have to sell your car for, to get out of the lease. You'll probably find that it's cheaper to keep driving it, and make the payments, then turn it in. Good luck! kyfdx |
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Replying to: nycdude (Nov 13, 2008 3:04 pm) Similar M35's are going over the block  $20,000 or so.
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Replying to: volvomax (Nov 14, 2008 2:53 pm)
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Replying to: nycdude (Nov 15, 2008 8:41 am) Volvomax was giving you a price he knows, not necessarily telling you this is what you should pay for your car. Its actual auction sale prices and it is what he can look up for you. Retail, on the other hand, is an unknown because it all depends on your negotiating skills and the alignment of the moons on the particular day you go to the dealer. For most people, $2500-$3k over the auction price is about the "right price." So if your car auctions for $20k, then average retail is probably in the $23k range. SO, point of the story is, if you can walk onto a dealer lot and buy a car similar to yours for $23k, then you should not pay more than that to buy yours at lease end. |
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Replying to: nycdude (Nov 15, 2008 8:41 am) |
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Hi, just wondering if I could get some help deciding what to do with my 05 Acura TSX which I am still happy with and has never had any problems. It is in perfect condition except for a small (quarter sized) mark on the rear bumper. Specs are 6spd Manual w/ Navi, Red w/ black leather, 26,000 miles. I am in NJ (if that metters) and my buyout is about $15,000 plus tax. Thanks in advance for the help.
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Smart Shopper Purchasing at the End of Your Lease
