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17 messages, Last post on Sep 29, 2008 at 6:50 PM
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Replying to: pathstar1 (Jan 20, 2007 9:27 am) |
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should I consider buying out my 2004 Prius lease at $13,338 - with 166,000 km?? What are the long term implictions re battery etc as the warranty is over
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Replying to: myrnamather (Sep 25, 2008 10:15 am) What are the long term implictions re battery etc as the warranty is over Generally speaking I'd have to say no. However, in your case, I presume you are facing a large bill for over mileage ($7000 or so?) in which case given the choice of buying the car out at $13338 or walking away at $7000 it becomes a no brainer. Effectively you are getting the car at a marginal cost of $6338, the $7000 is already lost. I would not worry greatly about the mileage, there are now quite a few Prius' around with considerably higher mileage than yours. |
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Replying to: myrnamather (Sep 25, 2008 10:15 am) I feel you may not be looking at this the right way.The estimated $7k is the hit they will take on resale anyway. Although you see it as a penalty to you, it's not going to be 'free' money to them either. Here's what I would try. They want $13k, I am assuming that includes sales tax. Then make a Counter offer for $10k and be FIRM on that as an out-the-door price. Any reticence on their part - head for the door. Don't let them pitch to you. If they try then just mention there's a Fit across the street you want to look at. Then Shut your mouth and head for the door. I bet they will call you back before you even reach that far ! Here's what they don't want you to know :- With 166kms on the clock car this will almost certainly be going to auction. Auctioneers would need to sell it for $9k to make it worthwhile. LOL And that 166k mileage won't win their hearts either. Plus they would have to offer a warrantee also. The dealership is going to be highly motivated here, they would really like to wash their hands on this one. I think you should try "This is my final offer" idea.. Believe me they won't hurt - your car may fail eventually and they will be getting the repair biz and you may not have puchased an extended warrantee. It's almost a no lose situation for them. I bought out my lease, because they discontinued that model in a 2dr version, and I had lo-mileage and no problems on mine. On the other hand had that particular model still been available for purchase I would have discarded the vehicle at end of lease. This will be a short year for the '09 Prius as the new GEN 3 Prius will be arriving as a 2010 model in April. Once the hoopla is over, with the new plants at full capacity they will be shipped in quantity and prices will reduce. Until then you might try and get the leasing company to go for a lease extension to reach that more opportune time. T2
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Replying to: toyolla2 (Sep 28, 2008 10:49 am) |
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