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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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#564 of 711 Re: getting screwed by GMAC [cremater] by volvomax Jan 13, 2009 (10:44 am)
Replying to: cremater (Jan 12, 2009 1:22 pm) I think Sebring is right here. 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.
#565 of 711 Turning in My GM SmartBuy by CAT1023 Jan 27, 2009 (12:23 pm)
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? Replies to this message: cremater (Jan 27, 2009 1:37 pm) volvomax (Jan 27, 2009 2:06 pm) CAT1023 (Feb 11, 2009 4:35 pm) volvomax (Feb 12, 2009 7:03 am)
#566 of 711 Re: Turning in My GM SmartBuy [CAT1023] by cremater Jan 27, 2009 (1:37 pm)
Replying to: CAT1023 (Jan 27, 2009 12:23 pm) I would be careful or ask another dealer in times like this would not trust anyone I bought out me 2005 chevy colorado lease and the way the dealer did the paperwork GMAC is now saying I owe $2000.00 for overage miles when I bought out the lease. just because of the way the dealer worded the paperwok
#567 of 711 Re: Turning in My GM SmartBuy [CAT1023] by volvomax Jan 27, 2009 (2:06 pm)
Replying to: CAT1023 (Jan 27, 2009 12:23 pm) Does GMAC do pre-term inspections? 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. Replies to this message: CAT1023 (Feb 11, 2009 4:35 pm) volvomax (Feb 12, 2009 7:03 am)
#568 of 711 Re: Volvo XC Lease purchase [skopiec] by gdclnfn Feb 11, 2009 (8:05 am)
Replying to: skopiec (Jan 26, 2008 7:13 am) skopiec, I am also coming up on my lease end on an xc90 and I am finding that my residual / buyout price is much higher than the auction/wholesale price. As Huntington is also my leasing company, please keep us posted on your negotiations.   Regards, Rick Replies to this message: kirstie_h (Feb 11, 2009 11:27 am)
#569 of 711 Re: Volvo XC Lease purchase [gdclnfn] by kirstie_h HOST Feb 11, 2009 (11:27 am)
Replying to: gdclnfn (Feb 11, 2009 8:05 am) Hi Rick, The person you responded to posted over a year ago (Jan 2008), so I would be surprised to hear from him/her, as negotiations are likely to have concluded for his/her deal.
#570 of 711 Re: Turning in My GM SmartBuy [volvomax] by CAT1023 Feb 11, 2009 (4:35 pm)
Replying to: volvomax (Jan 27, 2009 2:06 pm) OK I took my chances and turned in my 2005 cobalt to the hummer dealer which is what I bought and H3 on the last day of January. Since it was also a GM I was able to be a part of the pull ahead program which gave me 2 payments. I also was paid 1 month ahead. My dealer 2 years ago quoted me $2500 to fix the damage on the car. GM gave me a bill for About $1200 but once the pull ahead and payments were credited I ended up owing about $632. WOW! I was shocked when I opened the bill, and VERY VERY happy. Plus, I got a CRAZY deal on the H3 which I'm sure you can imagine which GM's status right now. It all worked for me....Good luck to the rest of you:-) Replies to this message: volvomax (Feb 12, 2009 7:03 am)
#571 of 711 Re: Turning in My GM SmartBuy [CAT1023] by volvomax Feb 12, 2009 (7:03 am)
Replying to: CAT1023 (Feb 11, 2009 4:35 pm) Incentives can be a beautiful thing.
#572 of 711 Lease Buyout/trade in for 06 Altima 3.5SL by worr Feb 15, 2009 (5:17 am)
My contract buy out price is $15,400 on a 06 Altima 3.5SL with 36K miles silver and in excellent condition which according to NADA is priced at $12,350 $13,600 $14,625 for trade in. I'm assumign that is the number to compare with...trade in value not retail.   Anyhow...my lease is up in a couple months...and the dealer is offering to trade in my lease and take over my payments for a new car purchase. There are some nice deals on new nissan altimas this weekend.   Are they able to negotiate my residule price? If so, that means a win win...and I'd be happy to let them get a deal on a used car. I just don't want any penalties, fees, taxes carried over to a new car purchase if I turn this over to them.   The car is in the upper midwest.   Thanks for any help. Replies to this message: volvomax (Feb 15, 2009 10:52 am) worr (Feb 18, 2009 6:58 pm) worr (Mar 13, 2009 5:32 am)
#573 of 711 Re: Lease Buyout/trade in for 06 Altima 3.5SL [worr] by volvomax Feb 15, 2009 (10:52 am)
Replying to: worr (Feb 15, 2009 5:17 am) Most likely, your dealer is just going to lump your remaining payments into your new deal. Or they may use a loyalty incentive, if applicable to make your payments. It is very rare that a dealer can get your amount owed on a lease reduced. Replies to this message: worr (Feb 18, 2009 6:58 pm)

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