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Smart Shopper Purchasing at the End of Your Lease
711 messages, Last post on Sep 19, 2009 at 10:24 AM
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Trying to get an idea of what to consider a reasonable profit margin for a dealer to live with. My '07 Sonata lease expires 1 May, and we're interested in buying it. We'll probably be in the vicinity of 8600 miles below the total mileage allowance. The kbb trade-in value is about $1500 below and the pp $440 greater than the buyout in the documentation. In PA the buyout has to be done via the dealer which I knew but the Hyundai CS rep 'realized' during the pre lease-end phone call when he found he couldn't give me a price. I just said we hadn't decided yet. I'd much prefer to be closer to trade value but waiting until 2-3 weeks prior to call and make an offer. From their website they have over 100 '09's Sonatas and a dozen or so used - mostly '08's on the lot. I'm hoping they'd rather not have to add, spiffy up, advertise and try to sell another one. Is a few hundred over trade in reasonable ? Any input would be welcome! |
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i am interested in purchasing my car now before my lease is over. i got messed up in a very bad lease and now i just want to buy it out and not have the pressure of going over the miles. i leased with Chase Auto finance and they told me the buy out price is never negotiable. i find that hard to believe. can anyone guide me through the steps . . . if indeed it is possible. thanks.
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Replying to: sf1210 (Feb 23, 2009 4:39 pm) They won't be in any hurry to take a loss on a car that you are committed to paying lease payments on... They have no motivation. regards, kyfdx
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Replying to: kyfdx (Feb 23, 2009 7:34 pm) thanks again for responding.
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Replying to: sf1210 (Feb 24, 2009 5:57 am) As someone said, they simply have no motivation. I'd wait if I were you and see what they say next year.
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Replying to: volvomax (Feb 24, 2009 9:24 am) |
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Hi there, My father has a Honda Accord that is at the end of its lease. The contract he signed with Honda stated a buy out value of just over $12K but last week he got a letter from Honda stating he could buy the car for $16.5K. I've checked the Canada Blackbook Value and the trade-in value is about $9.5K and the resale value just over $11K. My questions are: Can my father neogtiate? Why would the contract and offer letter vary by $4.5K? What advice can I give him to help him from getting taken advantage of? I've told him if he want to buy the car to make them an offer based on what the vehicle was worth minus the cash he's paid (exclusive of interest) and to be prepared to throw them the keys if they say no. Am I off base?
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Replying to: commpro (Mar 02, 2009 8:29 am) That is a very good question. I don't think you'll get the answer on this forum. I suggest you call Honda Canada and ask them to explain. |
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Replying to: commpro (Mar 02, 2009 8:29 am) I'd contact Honda and get a breakdown of that $16,500 |
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Replying to: worr (Feb 15, 2009 5:17 am) So it goes back. Seems odd Nissan wants to turn around and auction the vehicle for 2-3k less. |
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