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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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My 2006 Highlander Hybrid 2WD is coming to the end of its 3 year lease; we've already extended it 6 months because we were too busy to take care of this 6 months ago. The purchase payoff amount listed is $20,368.00. It's in good condition, with 22K miles (low mileage since it's mostly city driving in Boston). Based on what I see similar used cars going for on various web sites, this seems like a good deal, but advice in most places says to try negotiating the payoff price. Agree? If so, with whom? The leasing company is Toyota Financial Services, not the dealer. Thank you for your assistance!
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Replying to: rufuswashere (Nov 28, 2008 4:31 am) I don't know if Toyota Financial will negotiate. Even if they do, you probably don't have much room. Wholesale on your truck is  $20,000. Remember that you will also have to pay sales tax on the buyout amount.
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Hi - This is the first time I have leased and my car's lease ends in early January. I like the car and am considering buying it. According to Edmunds pricing, if I were to sell it today I could make $1-2K (although this is not my intent). My question is this --- is the buyout price stated on my lease negotable? If so, how do I go about negotiating?
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My lease on my Honda Odyssey is about to be over in 4 weeks. My risidual is half decent...I am thinking of buying the car and reselling it in the market. If I buy it from M&I financing and then sell it immediately to a person waiting to buy it from me...will I have to pay the 6% MI sales tax, or is there a way to get out of it? I mean, I will never have to register the car at the DMV myself??
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Replying to: paulo6 (Nov 29, 2008 4:28 pm) -tidester, host SUVs and Smart Shopper |
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Replying to: paulo6 (Nov 29, 2008 4:28 pm) This is because the state won't release the title without being paid the tax. |
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Replying to: seefral (Nov 29, 2008 9:13 am) |
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Replying to: nycdude (Nov 13, 2008 3:04 pm) |
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Hi ... I have a 2006 Chrysler Pacifica base model (4dr wagon, FWD) which I am planning on turning in on 1/20. I have about 35,000 miles on it and it's in good condition. The residual value of the car is $11,101. Currently, Chrysler is not offering me any incentive to stay in the car. I have a $300 turn-in fee, plus the car will need a good detailing ($200) and maybe two new tires ($275). According to TMV, the trade in value is about $10,100. Just wanted to make sure I'm making the right decision here and need some opinions! Thanks!
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Replying to: jnorman76 (Dec 03, 2008 9:57 am) Having said that, I had a Pacifica for 3 years and it gave me quite a bit of trouble  Also, when you say Chrysler isn't offering an incentive to stay in the car, do you mean reducing the buyout price? Have you out-and-out asked them? If not, it's worth a try - you're no worse off if they say no.
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Smart Shopper Purchasing at the End of Your Lease
