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Purchasing at the End of Your Lease

712 messages,  Last post on Nov 29, 2009 at 7:08 PM

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#546 of 712 Re: Need Lease-end option advice: 04 ES330 [volvomax] by jbaek74 Dec 31, 2008 (8:12 pm)
Replying to: volvomax (Dec 31, 2008 3:29 pm) Thank you very much for your help sir!!   Happy New Year~~
#547 of 712 2005 TOY 4 RUNNER Purchase / Turn In Decision by charlielab Jan 05, 2009 (10:42 am)
Hi - I'm looking for quick advice on handling the lease termination on my 2005 V8 4 Runner LTD. The lease expires at the end of January 2009. I like the car and have taken care of it. Here are the details:   Location: Atlanta, GA Make: TOYOTA Model: 2005 4 Runner LTD (V8 and all options except Navigation System). Lease Company: US Bank Lease Terms: 48 Months / 15K Month ($0.18 Overage) Termination Fee: $395 (If not purchased) Residual: $20,500 Odometer: 62,000 (Estimated End of Lease Milage) Condition: Very Good - One 3 inch paint scratch to repair < $250.00 (US Bank Inspection has already been completed). All things being equal, I would like to purchase the car at the prevailing market rate halfway between auction and retail (I think $16K-$18K). Big SUVs are not in demand now, and the car is probably not worth $20,500 but I'm not sure about the best way to negotiate with US Bank. Any ideas or help would be greatly appreciated! Replies to this message: volvomax (Jan 05, 2009 11:59 am)
#548 of 712 Re: 2005 TOY 4 RUNNER Purchase / Turn In Decision [charlielab] by volvomax Jan 05, 2009 (11:59 am)
Replying to: charlielab (Jan 05, 2009 10:42 am) Just call em up and make an offer. I think that price range is reasonable.
#549 of 712 Thinking of buying my Lexus IS 250 lease, what do you think? by masn Jan 05, 2009 (2:50 pm)
I'm planning to buy my lease IS 250; I'm confused between residual value and payoff, what is the difference?   My lease ends on 02/2009 and the payoff from LFS is $19818 the TMV are $16888 / $18347 / $19465 (already including the extra mileage).   I'm planning to offer LFS a buy-out of around $18k, is that realistic (to high, to low)? Replies to this message: sebring95 (Jan 05, 2009 3:20 pm) masn (Jan 07, 2009 10:09 am) volvomax (Jan 07, 2009 12:18 pm) sebring95 (Jan 07, 2009 1:13 pm) qbrozen (Jan 06, 2009 8:52 am)
#550 of 712 Re: Thinking of buying my Lexus IS 250 lease, what do you think? [masn] by sebring95 Jan 05, 2009 (3:20 pm)
Replying to: masn (Jan 05, 2009 2:50 pm) So what's your residual? I'm guessing the $19,818 payoff number is the residual plus your last 1-2 payments? That would make sense.   FWIW, Toyota/Lexus financial will not negotiate the buyout. Even on those Tundras that are worth $5,000 less than the residual. Replies to this message: masn (Jan 07, 2009 10:09 am) volvomax (Jan 07, 2009 12:18 pm) sebring95 (Jan 07, 2009 1:13 pm)
#551 of 712 Re: Thinking of buying my Lexus IS 250 lease, what do you think? [masn] by qbrozen Jan 06, 2009 (8:52 am)
Replying to: masn (Jan 05, 2009 2:50 pm) Also, that payoff quote MAY include tax. You'll want to confirm.
#552 of 712 r350 eol by gadgetguy1 Jan 06, 2009 (10:32 pm)
Hi, r350 lease ends Jan, residual is 32k. I see similar models with lower mileage adveried around 26K. Lease is thru MBZ financial. Do they negotiate via the dealer rep? If so, is the process for me to make an offer based on fair market? I see my current choices as buy out and add the electronics this car lacks in aftermarket, or return and buy a different car..Thanks in advance.
#553 of 712 Re: Thinking of buying my Lexus IS 250 lease, what do you think? [sebring95] by masn Jan 07, 2009 (10:09 am)
Replying to: sebring95 (Jan 05, 2009 3:20 pm) I just called them and my residual is $19,217. LFS told me thst here in FL I need to deal with the dealer not with them. If I decided to buy it, besides the residual do they will charge me other fees (title, sfer, etc)?? if they do what's acceptable and what's not?   Thank you in advance. Replies to this message: volvomax (Jan 07, 2009 12:18 pm) sebring95 (Jan 07, 2009 1:13 pm)
#554 of 712 Re: Thinking of buying my Lexus IS 250 lease, what do you think? [masn] by volvomax Jan 07, 2009 (12:18 pm)
Replying to: masn (Jan 07, 2009 10:09 am) Dealer will have to collect the same fees they do on a regular sale. Tax, Title, Registration, Doc Fee, etc. They may or may not charge an additional fee for doing the deal in the first place.
#555 of 712 Re: Thinking of buying my Lexus IS 250 lease, what do you think? [masn] by sebring95 Jan 07, 2009 (1:13 pm)
Replying to: masn (Jan 07, 2009 10:09 am) As volvomax mentioned, the dealer handles it all. I found one willing to do it for $250. They're basically buying the vehicle from Toyota/Lexus and then selling it to you as a used vehicle. I found a couple that didn't want to do it at any cost. I'll bet they'd love to get $250 to push some paperwork today!

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