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Purchasing at the End of Your Lease

711 messages,  Last post on Sep 19, 2009 at 10:24 AM

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#554 of 711 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 711 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!
#556 of 711 purchase a leased vehicle by fastfix Jan 11, 2009 (2:41 pm)
I have a 06 Honda CRV, my lease is up in a few months and i am trying to decide if I should purchase the vehicle. My residual is 11,938, do you think with the current down trend in car sales, that they (Honda Financial Services) will negociate the residual price. It is the base model 2wd , with no additional options, 41K miles. thanks Replies to this message: kyfdx (Jan 11, 2009 7:34 pm)
#557 of 711 Re: purchase a leased vehicle [fastfix] by kyfdx HOST Jan 11, 2009 (7:34 pm)
Replying to: fastfix (Jan 11, 2009 2:41 pm) I've never known Honda Finance to negotiate..   Plus, even for a base 2WD model, the CR-V holds it's value better than almost any other vehicle.. $12K doesn't sound like a bad deal.. I traded in my '02 CRV EX AWD this summer and received $9K from the dealer.... with 106K miles!   It never hurts to ask... also, take a look at what your model is selling for at the local dealerships...   Good luck!
#558 of 711 WTB RX 330 2005 from my friend by TekOne Jan 11, 2009 (8:37 pm)
My friend has Rx 330 2005 going to be end of lease on mid of Feb. I want to buyout on end of lease. His car has 31k miles, good condition, but it had mild accident of back bumper and it has been fixed. Now, should my friend has better chance to call LFS for lowest buyout price or should I do it? The Trade in Value about 18- 19K, but I want to offer 15-16k since it has been accident. Please advice. Replies to this message: sebring95 (Jan 12, 2009 4:21 am)
#559 of 711 Re: WTB RX 330 2005 from my friend [TekOne] by sebring95 Jan 12, 2009 (4:21 am)
Replying to: TekOne (Jan 11, 2009 8:37 pm) Toyota/Lexus finance does not negotiate on the lease buy-out. I'm guessing they're insured against the residual. I've been through a couple buy-outs with them and talked to several folks up the chain of command and they claim it doesn't happen. I have also never found anyone on a forum that successfully negotiated with them.   In most states, they require you go through an auto dealer which is typically a PITA, but actually might benefit you. Some other leasing companies will only sell directly to the lessee, which could cost a lot more depending on your states sales tax (friend pays tax on buy out, then you have to pay sales tax to buy it from them).
#560 of 711 06 Audi A4 by boozoo99 Jan 12, 2009 (7:20 am)
Hi,   I have an 06 Audi A4 with right under 22k miles that is up for lease at the end of February. The buy out is $18k. I love the car and love having a small car but don't necessarily need it. i am wondering what I can see in regards to negotiating on the buyout price, the fees associated with turning it in, the warranty if I bought it and whether it would be smart to buy it out or give it up and go another option if I want to keep a small car. The car is in great condition.   Thanks for your feed back. I could also buy it out and sell it if you think that would be beneficial. Replies to this message: volvomax (Jan 13, 2009 10:40 am)
#561 of 711 getting screwed by GMAC by cremater Jan 12, 2009 (1:22 pm)
hello a little help here I purchased my lease recently for 11788 + TT&L totaling 12473.20 GMAC has now sent me a letter stating that I now owe $2275 minus my secuity deposit for a total of $1975.00 for which they say is 10000 miles over my allowed miles for the lease my gripe is that I bought the lease out and the mileage should not even be an issue they are trying to tell methat I did not buy the lease out but the dealer bought the lease so I am being charged for mileage how can this be when I paid the dealer the residual and taxes I know GMAC is in a bad bind but it seems like a bunch of BS to try to make a person pay more money when it is not owed. the dealer has stated I have to work it out with GMAC not them what can I do to file a complaint or fight it I am getting no where with either party THANKS FOR ANY INFO AND I WOULD HIGHLY RECCOMEND NOT DOING BUSINESS WITH GMAC. iF IT WERE NOT FOR MY SON i WOULD NOT HAVE BOUGHT THE LEASE OUT I DID AND AM PAYING FOR IT I AM NOW PERSONALLY DRIVING AS FORD SO LONG GMAC Replies to this message: sebring95 (Jan 12, 2009 1:39 pm) volvomax (Jan 13, 2009 10:44 am)
#562 of 711 Re: getting screwed by GMAC [cremater] by sebring95 Jan 12, 2009 (1:39 pm)
Replying to: cremater (Jan 12, 2009 1:22 pm) I think your claim might be with the dealer. It sounds like they ran it as a lease return and then bought it from GMAC. They may have made a buck on it because GMAC could have discounted the truck below the residual (used an auction price). I know the GMAC lease I had back in '04 had the residual, and it also had a different price if a GM dealer was buying it. Did you sign any paperwork showing it as a lease return? You shouldn't have if you were buying it out
#563 of 711 Re: 06 Audi A4 [boozoo99] by volvomax Jan 13, 2009 (10:40 am)
Replying to: boozoo99 (Jan 12, 2009 7:20 am) Assuming that it is the 2.0T, wholesale is in the $13-14,000 range.   So, $18k is about retail.   Depending on who the lender is, they may negotiate the buyout. End of term fees, however are never negotiable.

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