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Smart Shopper Purchasing at the End of Your Lease
716 messages, Last post on Nov 30, 2009 at 8:03 AM
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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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I am in very difficult situation. My current lease is set to expire at the end of April. I am not sure whether to buyout my lease or lease another car. Also, I am not sure whether or not Nissan offers financing on leased car buyouts. I have spoke with several banks and none of them will refinance my car. Also, I am concerned if I buy the car that the maintanence and repairs will be costly. But if I lease another car, I will be going over the mileage because at the current time I work 40 miles away from my home. Buying a new car seems even more farfetched because the monthly payments are very high. Does anyone have any suggestions?
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Replying to: jjc42482 (Mar 14, 2009 11:43 am) Otherwise, lease or buy a new car you can afford. Buying a new car seems even more farfetched because the monthly payments are very high ???? I NEVER understand how someone can say this. Rule of thumb is you pay $20 of payment for every $1,000 you finance for 5 yrs. Pretty simple. So, if you can afford $300/mo, you need to finance  $15,000 $400/mo finance $20,000. That way, you know not to go looking at $30,000 cars if you can only spend $300/mo. |
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I have a 2006 Trailblazer LT leather etc...everything but Nav basically, and it only has 19,500 miles on it. I have leased the car for 36 months at $389 / month, nothing down at signing but tax and first month (total $13,615.00 paid to date in payments(35)) My buyout was to be $21,132.70. The private party value according to kbb.com in Excellent condition (which it is) was $19,840.00 (amount expected to see the car on a dealer lot for). Chevy negotiated with me (after playing 4 dealers against each other, and some white lies) a buyout of $16,900...I took it even though I could probably squeeze another $500 out of them if I go back and forth a few more times. Overall I got a 2006 for $30,515 (was on the lot for $33,085.00 in 2006) cause I bought out the lease cash. I am happy with the deal, and note to all GM lease holders...they don't want the cars back and will pretty aggressively negotiate the buyouts.
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Smart Shopper Purchasing at the End of Your Lease
