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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: bodble2 (Feb 26, 2005 12:52 pm) Depending on the model, you'll see Hondas, BMWs, and Lexi in this range... Many people will look in the paper and see '02 Honda Accords with asking prices of $17K and think that their '02 Accord LX is a great buy at only $12K residual.. Not taking into account that the one in the paper is the V6 with leather and navigation, and that the real-world selling price is probably going to be under $15K... Some residuals may be less than what you can buy the car at the dealer, but in my experience, they are usually overly optimistic... which is what makes for a good lease deal... American cars usually get their low lease payments from cash incentives on the front end.. Their residuals are usually low, but with good reason.. I don't follow them much, because I don't desire any of their cars.. The Vibe would be an exception, because it is really a re-badged Toyota... regards, kyfdx |
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| Has anyone dealt with GMAC at a lease end. Are they willing to negotiate on the residual? As far as sales tax goes I live in New Jersey, does anyone know how you are taxed if you decide to buy? capitalized cost or residual? One last question. Can you negotiate the price of a vehicle before signing the lease? Thanks | |
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I am so glad I found this forum because I haven't been able to find any guidance about this anywhere else. I want to know whether it's worthwhile to try and flip a profit when my lease ends since my mileage is quite low, and if so, how exactly to go about it. Here are the details: 2001 Acura 3.2 CL, 30,000 miles, clean condition, gold color, zip code 91604. Lease residual: $14,515. Now here's my first point of confusion. According to Edmunds, the private party price should be about $14,983. But running the same query on Kelly's (using "Good" condition, which seems to be the equivalent of "Clean") brings a private party price of $15,905. Why such a big disparity? I've got a bunch more questions but I'll wait to hear your initial thoughts.
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Replying to: pumpirony (Feb 28, 2005 4:28 am) jginbama, "Real-World Trade-In Values" #25282, 28 Feb 2005 11:02 am I think you'll find that flipping your car will not make you any money..
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Replying to: kyfdx (Feb 28, 2005 8:10 am)
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Replying to: pumpirony (Feb 28, 2005 12:24 pm) Just follow the template in red at the bottom of the discussion, and give him as much info as you can about the car.. regards, kyfdx |
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The lease on my Q45 is about up. I called Infiniti Financial Services and asked them it they would sell me the car for less than the stated residual. They said they don't deal and that I should just go see the dealer if I want to buy the car. Has anyone gotten IFS to deal? Would love to know. Thanks, Dean Mixon
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Replying to: deangeli (Mar 09, 2005 2:02 pm) |
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Hi, I leased a 02 Maxima, and now have less than 30 days left on the lease. The buyout is $14.5K + tax. Calling around to dealers, nobody offered more than $12.5 for the car. So to me, that's really what the vehicle is worth. The lease is thru SouthTrust, and when I spoke to them a month ago, they wouldn't deal. The car is flawless, and I'm just under the mileage. Do you think the closer it comes to the end of the lease, the more SouthTrust will be willing to deal? I'm kind of hoping they take a firm stance, I'd really like to lease a new BMW, but the wife wants me to keep the Max if the price is right.
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Replying to: stkntraffic (Mar 29, 2005 8:04 am) Terry. |
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