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Purchasing at the End of Your Lease

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

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What is this discussion about? Car Leasing


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#659 of 716
Re: End of Lease "Damage" [tmjohnson39] by sebring95
Jun 15, 2009 (11:24 am)
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Replying to: tmjohnson39 (Jun 15, 2009 9:38 am)

You might contact your insurance agent as well. It's usually more expensive to insure a leased vehicle for this reason. I was under the impression they would notify and clear repairs with the leasing company.
#660 of 716
Buying our leased 2004 Highlander by jeolivares
Jun 24, 2009 (5:18 pm)
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Our 5 year lease is ending soon ( August 21), the financing agency says the cost to purchase is $18,000.00 at 8.5%. How do we know if this is the right price? Or if this is even negotiable? A quick search of comparably equipped vehicles with similar mileage (72,000) shows most going for 14,500-14,995.
#661 of 716
Re: Buying our leased 2004 Highlander [jeolivares] by sebring95
Jun 24, 2009 (5:56 pm)
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Replying to: jeolivares (Jun 24, 2009 5:18 pm)

Is this leased through Toyota Motor Credit or someone else? From what I've found, Toyota won't negotiate the buy-out price. So whatever is stated as the residual in your original contract, that's what you'll have to pay. It sounds like you've already answered the question that it's not worth $18k...walk unless there's a good reason you should pay an extra $3k for it. If it's leased through another leasing company, they might negotiate a lower price if you ask.
#662 of 716
Re: Buying our leased 2004 Highlander [sebring95] by jeolivares
Jun 24, 2009 (8:44 pm)
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Replying to: sebring95 (Jun 24, 2009 5:56 pm)

It is financed thru Wells Fargo. I,m going to see if there is room to negotiate. If WF recovers the vehicle, well, they're facing wholesaling it for some 9k. I just want to see if they can get closer to reality, not 18k!
#663 of 716
Re: Buying our leased 2004 Highlander [jeolivares] by sebring95
Jun 25, 2009 (4:24 am)
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Replying to: jeolivares (Jun 24, 2009 8:44 pm)

All you can do is bargain with them. I have heard Toyota insures against their residual values, so they have no incentive to negotiate. I've not directly heard of anyone negotiating with WF, but I highly doubt they were insuring back in 2003-2004.
#664 of 716
Hummer Lease by mjpjnj
Jul 13, 2009 (3:56 am)
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I have a Hummer H3 lease that is up in Oct. It was a 39 month leases with 15000 miles a year. Can you offer them a lower price than the payoff and how do you go about doing it? Thanks in advance
#665 of 716
Re: Hummer Lease [mjpjnj] by volvomax
Jul 14, 2009 (9:59 am)
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Replying to: mjpjnj (Jul 13, 2009 3:56 am)

Depends on who the lender is, and what your buyout is.
#666 of 716
Re: Hummer Lease [volvomax] by mjpjnj
Jul 14, 2009 (2:58 pm)
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Replying to: volvomax (Jul 14, 2009 9:59 am)

Gmac and about 19000. It right around what edmunds says it worth from a dealer.
#667 of 716
Nissan Murano Question by dutch124
Jul 14, 2009 (4:16 pm)
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Hi All-
 
Have a 2006 Murano coming off lease in a few weeks. 20k miles, and the buyout is $19k. Seems like a good deal but would like to be sure. Also, is it correct that I'd pay tax twice? Would I pay tax on just the $19k or the entire value of the car?
 
Thanks in advance,
 
Jason
#668 of 716
Re: Hummer Lease [mjpjnj] by volvomax
Jul 15, 2009 (7:53 am)
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Replying to: mjpjnj (Jul 14, 2009 2:58 pm)

If its an 07, it should bring $18 wholesale. I doubt that GMAC will give you a lower price than your buyout.

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