Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Smart Shopper Purchasing at the End of Your Lease
711 messages, Last post on Sep 19, 2009 at 10:24 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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.
|
|
|
Replying to: TekOne (Jan 11, 2009 8:37 pm) 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). |
|
|
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.
|
|
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
|
|
|
Replying to: cremater (Jan 12, 2009 1:22 pm) |
|
|
Replying to: boozoo99 (Jan 12, 2009 7:20 am) So, $18k is about retail. Depending on who the lender is, they may negotiate the buyout. End of term fees, however are never negotiable. |
|
|
Replying to: cremater (Jan 12, 2009 1:22 pm) GMAC thinks you returned the car and the dealer bought it. Under those conditions, you would owe the over mileage. I think your deaer screwed up the deal somehow and now doesn't want to make it right. I would have a sit down w/ the GM of the dealership and get this straightend out. |
|
|
I have an 2005 Chevy Cobalt with about 33,500 miles on it. I need to turn the car in by 3/18/09. I am buying another GM vehicle, this week and the Cobalt was not worked into the deal. I plan to just turn my car back in when I pick up the new one. HOWEVER, there is damage on my car. I got an estimate from the dealer about 1 year ago for $2,500 to repair. The Chevy dealer is telling me now that if I turn it in I will get a bill for $500-$800??? Anyway, I am wondering am I really gonna get hit with a bill of $4000 or something crazy? Is the dealer just telling me a lower number cause they want to sell me a car? Help!!! What should I do? |
|
|
Replying to: CAT1023 (Jan 27, 2009 12:23 pm) |
|
|
Replying to: CAT1023 (Jan 27, 2009 12:23 pm) If so,get one done. This will tell you exactly what GMAC will charge you. If not, you probably should just get the car fixed before you turn it in. A dealers estimate holds no water w/ the finance co.
|
|
You are here:
Forums
Smart Shopper Purchasing at the End of Your Lease
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
Browse by Board
Browse by Topic
Today's Chats
