- #709 of 716
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Re: Is it worth shopping different dealers? [volvomax]
by bostonmdxbuyer
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Sep 18, 2009 (11:03 am)
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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
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- #710 of 716
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Re: Is it worth shopping different dealers? [bostonmdxbuyer]
by sebring95
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Sep 18, 2009 (11:52 am)
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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.
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- #711 of 716
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Re: Is it worth shopping different dealers? [bostonmdxbuyer]
by volvomax
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Sep 19, 2009 (10:24 am)
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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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- #712 of 716
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End of Lease
by paolasoriano
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Nov 29, 2009 (7:08 pm)
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Trying to negotiating with Volvo Finance on an end of lease option is very difficult. My buyout option on my SUV is $27,243 and I Kelly Blue Book says that the car is worth 20,000. Any advice on what I should do?
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- #713 of 716
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Re: End of Lease [paolasoriano]
by british_rover
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Nov 30, 2009 (7:32 am)
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Replying to: paolasoriano (Nov 29, 2009 7:08 pm)
Go to the dealer you leased the car from originally they might be able to buy the car for a little less then the buy out but not 7,000 dollar less. Volvo is not negotiating on lease buy outs by more then a few hundred dollar right now.
Just turn the car in would be my advice.
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- #714 of 716
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Re: End of Lease [paolasoriano]
by davenga
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Nov 30, 2009 (8:03 am)
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Replying to: paolasoriano (Nov 29, 2009 7:08 pm)
was my first time to purchase at end of lease and I learned a LOT. I was given a very different figure (of worth) from my bank, from Volvo finance and Blue Book. It was getting to be stressful for me so I actually decided just to purchase to get this out of the way, BUT when I called back to purchase the price had gone up considerably. I was told that figure changes often based on a number of things. All sounded like a bunch of BS to me but I sent them a check and am glad it's over. Will be the last time I lease. I considered the pros and cons and it just wasn't worth it, financially or mentally.
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