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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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We had our lease inspection done yesterday and I asked our inspector what the market is and he said in his 15 years this has been a good time to be in a lease as the prices fell on the cars, but a bad time to buy out a lease....the trend is for people to return their lease cars (unless they can negotiate a price) and buy new. That's what was said. |
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Like a lot of other people, I had a great job a year ago...then unfortunately lost it. Been collecting unemployment, but still making my lease payments with no problem. I have two months left on the lease and want to buy the car out. I got $6000.00 in the bank and can continue to make payments. I talked to Subaru of America a month ago and they said I was pre-approved for a loan through Chase Auto Finance (whom I am currently paying for the lease). I am trying to be pre-emptive and make sure Im not gonna get screwed when I go to buy the car out in 2 months. Any suggestions on this matter?? Does this sound like it will work?? I have never been late or missed a payment+I have taken 6 personal loans out over the years and paid them all back early! Any advice would be much appreciated....thank you
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Replying to: tpott (May 08, 2009 7:44 am) Good luck with your job search, by the way. I hope things turn around soon. |
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Replying to: tpott (May 08, 2009 7:44 am) A pre-approval means almost nothing, the bank merely assumes that you still have the same job,salary, etc. If they find out otherwise, the approval goes away. |
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Replying to: toenlo36 (Apr 04, 2009 8:15 pm) for $16k ! Sure a few more miles but 2 years newer........................ http://www.usedcarking.com/inventory/details2.asp?vehicle_id=WT10269 |
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I have an 07' Jeep Wrangler that I leased for 39 months. After 26 months I only have 6K miles on it and I absolutely love it and would like to purchase the vehicle. I have leased before but have never bought one out at the end, so I have a few questions. I understand the buyout price is negotiable? If not, disregard the rest. I still have roughly 12/13 months before the lease is up, given the current economy would it be in my best interest to buyout out now, or wait until the lease is actually up in order to get the best buyout deal? My lease is through Chrysler Financial, I assume I would need to contact them to negotiate a buyout price? This is all I can think of right now. Any help with this would be great. Also ANY additional info you want to add I would appreciate.
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Replying to: wilmo11 (May 10, 2009 12:53 pm) Others can chime in to expected costs. |
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Replying to: wilmo11 (May 10, 2009 12:53 pm) Bank has no need to cut itself short right now. |
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My lease is up in 3 weeks. 2006 Toyota 4Runner SR5 V6 4x4 with 22,000 miles. The residual is 18,700. Is it worth buying at that price, or am I better off giving it back? Thanks.
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