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Smart Shopper Purchasing at the End of Your Lease
751 messages, Last post on Mar 15, 2010 at 11:09 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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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 1:53 pm) Others can chime in to expected costs. |
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Replying to: wilmo11 (May 10, 2009 1:53 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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Replying to: rayd8 (May 14, 2009 1:50 pm) |
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(I posted a similar message in the Mazdea3 forum. Sorry for the duplication.) My lease is up in 2 weeks and I want to buy the car. The purchase option price is good, but the dealer wants to add a $995 admin. fee and a $298 document fee (in addition to tax, title, reg.). Mazda Credit tells me the buyout must be through the dealer, who technically owns the vehicle. After reading the contract, it seems that dealer is legally covered by the phrase "plus official fees and taxes" added after the purchase option price. It may be legal, but I feel these fees are exorbitant and unjustifiable. Do I have any recourse, or am I hosed? Anyone have any experience with end of lease buyout fees? I can't believe the amount of these charges is "normal".
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Replying to: rgeba (May 29, 2009 9:01 am) |
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Our lease is up next month and we're trying to decide if we'll buy or turn the car in. This is our first experience at leasing and when we inquired about purchasing, we were told to go to an authorized Volvo dealer and ask what the fair price would be for the car (2006 Volvo XC90). We did this and made an offer to purchase the car based on that price (actually offered a little more). The leasing company refused our offer and counter offered with a price $3,000 more than the "fair" price we had obtained. . We were on a four-year lease and the car in today's market is not worth what it would have been 4 years ago on a end lease purchase. As I mentioned this is our first experience with leasing and would like input re just how negotiable the end lease purchase price usually is.
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| Our lease is thru US BANK and we're hearing that they are very hard to deal with, anybody know anything about this? | |
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Replying to: davenga (May 29, 2009 2:36 pm) tidester, host SUVs and Smart Shopper |
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