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Purchasing at the End of Your Lease

716 messages,  Last post on Nov 30, 2009 at 8:03 AM

You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester

What is this discussion about? Car Leasing


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#648 of 716
Re: Need help [kirstie_h] by dtownfb
Jun 12, 2009 (7:44 pm)
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Replying to: kirstie_h (Jun 12, 2009 11:22 am)

volvomax came through with an auction value for her. It looks like the buyout price is a good price for this car.
 
If she is happy with the car and it suits her need, I would tell her to buy it.
#649 of 716
Re: Need help [kirstie_h] by itslisa
Jun 12, 2009 (9:53 pm)
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Replying to: kirstie_h (Jun 12, 2009 10:58 am)

Yes, my bug convert. is my only car. Up to my divorce there was a 5 series BMW and the Volvo x-ctry wgn. Neither are my cars. I know that a VW bug is NOT historically known for being free of problems. I talked with many owners b-4 leasing it. So far I have not had huge probelms. With very low miles, not sure if it will become a 'pain in the bumpus'. I just want to make the best (financial) decision and I am having difficulty.....
#650 of 716
Re: Need help [itslisa] by grandtotal
Jun 13, 2009 (3:52 am)
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Replying to: itslisa (Jun 12, 2009 9:53 pm)

The best financial decision is to walk away from the Beetle and buy a Corolla. You'll get 7 or 8 years of trouble free service from it and it will still be worth something when you decide to sell it.
#651 of 716
Re: Need help [grandtotal] by kyfdx HOST
Jun 13, 2009 (10:42 am)
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Replying to: grandtotal (Jun 13, 2009 3:52 am)

Sounds boring, though... She just got divorced.. now, she has to give up her fun car, too?
 
If you like the Beetle, it certainly has low miles, and the price seems decent.. It's not like you are stuck with it for life, if you decide to buy it.. If it turns out to be problematic, you can always dump it and buy that Corolla..
 
(See? I got a cheap car last year to save money... now, I'm bored.. )
#652 of 716
Re: Need help [kyfdx] by grandtotal
Jun 14, 2009 (6:51 am)
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Replying to: kyfdx (Jun 13, 2009 10:42 am)

Sounds boring, though... She just got divorced.. now, she has to give up her fun car, too?
 
I agree entirely with you. That's why I emphasised the word financial in my answer. The problem is that the first time the Beetle is problematic it could be quite expensive.
#653 of 716
Re:Needing help (VW bug convert) by itslisa
Jun 14, 2009 (8:05 am)
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It occured to me that I did not thank all of you who responded to my quandry. My apologies........
#654 of 716
Re:Needing help (VW bug convert) [itslisa] by kirstie_h HOST
Jun 15, 2009 (7:20 am)
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Replying to: itslisa (Jun 14, 2009 8:05 am)

No problem, Lisa - that's what we're here for!
 
Just a quick question for others - has anyone had experience negotiating the buyout price on VWs? IMO, it's always worth asking, even if they say no.
#655 of 716
Re:Needing help (VW bug convert) [kirstie_h] by sebring95
Jun 15, 2009 (7:26 am)
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Replying to: kirstie_h (Jun 15, 2009 7:20 am)

RE: Negotiating with VW:
 
I have heard of others doing so but not recently. It's a tough position when you have a very low mileage unit as that's usually the first question they ask. Never hurts to ask a few times though.
#656 of 716
End of Lease "Damage" by tmjohnson39
Jun 15, 2009 (9:38 am)
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Help!!! We are at the end of a 5 year lease on a Chrysler Pacifica(would never do it again). The leasing company's inspector gave the car raving reviews and recommended no penalty charges for wear and tear. Now with 2 weeks before turn in we received a letter advising that we should buy the car to avoid a charge we will be responsible for regarding alleged "frame damage". The car was in an accident where the rear quarter panel was replaced. The repairing dealer stated that there was "no frame damage". Leasing company is claiming quarter panel replacement, which is immaculate, from factory and unable to detect by looking at it, substantially diminishes the cars value and we will be responsible for the difference between market value and what they sell it for. What can we do?
Lease states "I also recognize that if the vehicle has suffered frame damage or substantial other damage, even though the damage may have been repaired, the value of the vehicle will be substantially less than the value of an identical vehicle which has not had frame damage or suffered other damage." Any assistance would be greatly appreciated. Thank you!
#657 of 716
Re: End of Lease "Damage" [tmjohnson39] by grandtotal
Jun 15, 2009 (10:02 am)
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Replying to: tmjohnson39 (Jun 15, 2009 9:38 am)

Have the vehicle inspected by an independent inspector and (assuming the inspector finds no unrepaired damage) send a copy of his/her report to the leasing company by recorded delivery. Return the car on time.

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