Last post on Aug 27, 2009 at 2:24 AM
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Jeep Commander, Jeep Commander SRT-8, Car Leasing, Car Buying, SUV
#217 of 219 Re: Chrysler Financial Lease Buy-Outs [afleming75]
Jul 31, 2009 (9:28 am)
When is your lease up? I am 82 days out and I heard once you get inside 30 is where they start to offer better deals
#218 of 219 $229/mo Commander Lease Ending
Aug 21, 2009 (1:29 pm)
My 2007 Commander Sport lease ends Nov 1st and i've been pondering wheather to buy or turn in. By then i'll be about 4K over mileage (.20 per) The sticker was under $31K. I plunked $2500 down and have been paying a ridiculous $229.17 per month. Went to dealer today and learned buyout is $15,900 (just read in the forum that price is non-nego?) Is that true? Want to get that figure lower so my payments wouldn't jump too much. What to do? Thanks
#219 of 219 Re: $229/mo Commander Lease Ending [jgk1000]
Aug 27, 2009 (2:24 am)
Hi jgk1000. I don't know what Chrysler Financial's policy is on negotiating the end-of-term purchase prices of leased vehicles, but it wouldn't hurt to give them a call to see if they would be willing to reduce your truck's price. You don't have anything to lose by asking.
In order to determine whether you should purchase your vehicle at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your car or truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but again you don't have anything to lose by asking.
As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: sysop, "Real-World Trade-In Values" #, 14 Dec 2000 11:07 pm.
If your vehicle's purchase price is less than or similar to its current value on the open market then you may want to consider buying it. If not, walk away.
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