Last post on Dec 02, 2013 at 5:48 PM
You are in the Smart Shopper
What is this discussion about?
#926 of 967 price of 2012 toyota camry 4 door at dealer
Dec 22, 2011 (3:48 pm)
I would like to know what kind of fees I will be faced with for 2012 cmry lease, I have a 2008 leased camry 4 door. How do I find out the real selling price and fees? thanks
#927 of 967 Customer Price vs Dealer Price
Jan 23, 2012 (3:21 pm)
My 08 R32 has 2 more payments left so I called VW Credit for a purchase quote if I want to buy the car. As a customer, my purchase price would be my contractual residual value. If your a dealer, they get to purchase the car at FMV.
The price that VW Credit gave the dealer was about $10K more then this highest wholesale price. The wholesale price was also close to KBB trade in value. It is also about 7K more then my customer buyout price. The car has 76,000 miles on it.
Any idea why VW Credit whould have such a crazy dealer price? This just kills any trade-in deal since no dealer will pay $10K above wholesale or FMV. Makes no logical sense....
#928 of 967 Re: Customer Price vs Dealer Price [petraboy]
Jan 23, 2012 (3:51 pm)
The lease bank (VW credit) owns the car and can do whatever they want with it. By contract, they have to sell you the car for the residual, pre-negotiated price - there is nothing that says they have to honor that price for anyone else - like a car dealer.
Did you have a VW dealer call or another brand / independent ? VW might allow a VW dealer to buy it at that price but may block others.
In most states sales tax is due when you by your car off of lease, even if this is the case where you live buying + tax may net you a profit when you trade / sell the car. Most states have a tax break for trading in an OWNED car (lease cars do not apply) so you could recoup your tax money plus profit if you BUY a replacement.
Say your buy out is $10,000 and you live here in high tax land (7%), it would cost you $10,700 to buy the car. Then you trade it in on a new (purchased) replacement and get get say $17,000 for it. You would then save $1,190 in sales tax on the new ride. So your net profit is $7,490 for flipping the car (assuming no property or tag fees).
They took a chance on future value and if were worth less than residual and you turned it in they would be out that money. The fact that it is worth more means a windfall or profit for them, if you are dumb enough to just return the car and leave thousands on the table...
#929 of 967 Re: Customer Price vs Dealer Price [dwynne]
Jan 23, 2012 (4:49 pm)
Thanks for the information. Apparently that price is for all dealers. My buyout is $18K, and if I returned to a dealer I would get dinged for close to $7K with miles penalty. I have 76,000 miles and market value for trade in is about 16K. You would be nuts to pay what VW is asking in dealer price, since the market is saying otherwise. Only smart thing is to purchase the car.
#930 of 967 Re: Customer Price vs Dealer Price [petraboy]
Jan 24, 2012 (6:41 am)
Trade-in would be even less than that, I'm afraid. With those miles, that might do $15,500 or so at dealer auction. Dealers would most likely hit it at $14k or so ... unless they are killing you on the car you are buying, that is. You might get more at a place like carmax, if you have access to one. Just don't buy a car from them because they are grossly overpriced!
If you don't want the car, your best bet, of course, is to try to sell it yourself. You could probably get the $18k you owe for it.
#931 of 967 Re: Customer Price vs Dealer Price [petraboy]
Jan 24, 2012 (7:10 am)
Ouch! That is what happens when you go over miles on a lease.
Does $18k include taxes or not? Often they quote buyout with tax to you, your base amount is the residual from the lease contract.
qbrozen's suggestion to sell it yourself will not work in most states - title can only pass to you (for your buyout price) or to a dealer (for a higher price you said). It also has to be through a dealer and it is hard to find one to do a buy and bye these days. If you get a tax credit for reselling then you can buy and sell it private.
Otherwise you may have to just pay the over mile fees or roll the negative equity into the next deal.
The ideal thing is to not lease if you are a high mile driver or to build those into the lease. Failing that, then save the extra mile fees every month so you will have the money socked away at lease end.
#932 of 967 Re: Customer Price vs Dealer Price [dwynne]
Jan 24, 2012 (9:09 am)
I meant to buy it out and THEN sell it.
#933 of 967 Re: Customer Price vs Dealer Price [qbrozen]
Jan 24, 2012 (11:04 am)
Buyout price plus sales tax would likely to be more than retail value. It would be nice if you could sell private off lease, but in most places you have to pay tax. Of course, losing a little reselling it is not bad compared to paying $7k in over mile charges...
#934 of 967 Re: Customer Price vs Dealer Price [dwynne]
Jan 24, 2012 (12:25 pm)
Of course, losing a little reselling it is not bad compared to paying $7k in over mile charges...
Exactly. It is the path of lowest cost.
#935 of 967 I'm going to go way over my lease mileage
Feb 13, 2012 (8:50 pm)
Hello everyone ,please help! I am half way done with my lease and I'm already at my max mileage. At the end of my lease should I purchase my car to avoid all the mileage overage charges?