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Purchasing at the End of Your Lease

711 messages,  Last post on Sep 19, 2009 at 10:24 AM

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#707 of 711 Re: Advice needed on LEP for a CTS [apocalypso] by grandtotal Sep 16, 2009 (1:53 pm)
Replying to: apocalypso (Sep 16, 2009 12:33 pm) I think the dealer may be blowing smoke. I can't see GMAC being willing to negotiate a lower residual until just before the lease expires.   I'll bet that when it comes right down to it and he cannot negotiate a lower residual he's hoping you will be so in love with whatever you replace the current car with that you'll go ahead and do the deal anyway. "Instant gratification".
#708 of 711 Purchase 335i? by wbb56 Sep 17, 2009 (4:02 pm)
My 335i 3-year, 36k mile lease is up in April of 2010. Due to an unforeseen job change I am going to go way over 36k miles. In fact I'm over 37k right now. Given that, and the fact that I made eight security deposits of roughly $600, I am considering purchasing the car at the end of lease--rather than pay for the 8-10k additional miles. Is this a good idea? If I decide to pursue it is the price of the car negotiable? What price should I expect to pay for the car? My negotiated price for the car was $45,575.00 (MSRP was $47,795). Residual value $30,000.   Thank you very much in advance!
#709 of 711 Re: Is it worth shopping different dealers? [volvomax] by bostonmdxbuyer Sep 18, 2009 (11:03 am)
Replying to: volvomax (Sep 14, 2009 12:04 pm) Thanks for the replys. I understand that Lexus Financial owns the cars. But doesn't the dealer have some incentive, in the form of money from Lexus, to sell the car? If so, then perhaps the dealer would be willing to give up some of that money to get the deal done, rather than to give that sale to another dealer. When I have purchased or leased a vehicle in the past, I have tried to get dealers to bid against each other to get the best price. I don't know if the same strategy is possible with a end of lease purchase. If there is no incentive from Lexus to the dealers, then I can't see any advantage to shopping different dealers. Thanks Replies to this message: sebring95 (Sep 18, 2009 11:52 am) volvomax (Sep 19, 2009 10:24 am)
#710 of 711 Re: Is it worth shopping different dealers? [bostonmdxbuyer] by sebring95 Sep 18, 2009 (11:52 am)
Replying to: bostonmdxbuyer (Sep 18, 2009 11:03 am) Once you turn the car in, the car generally either gets auctioned online or will be physically sent to a sale. The dealer would have the ability to bid on the car...so if the auction value is signifianctly less than your residual, I suppose it's feasibly possible to try and get the dealer to buy it at the sale and then sell it back to you. This is what someone I know did with a Tundra pickup that had a ludicrously high residual vs market value. However, that doesn't sound like the case on your vehicle so I don't think you have a leg to stand on negotiating for a better buy-out price. The dealer will facilitate the buy-out for you, but they're essentially just passing the money onto Toyota/Lexus finance.
#711 of 711 Re: Is it worth shopping different dealers? [bostonmdxbuyer] by volvomax Sep 19, 2009 (10:24 am)
Replying to: bostonmdxbuyer (Sep 18, 2009 11:03 am) Dealer gets no incentive from Lexus Financial to sell a car that Lexus Financial already owns.

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