Last post on Apr 29, 2013 at 3:07 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Car Buying, Car Leasing
#9 of 12 Lease Payoff - Forced to pay Fair Market that is Higher than Residual Value
Jul 08, 2011 (2:25 pm)
My auto lease company has in their contract that my lease payoff is the greater of the residual value or fair market value (Blue Book). The residual value is $10,000 and the FMV is $16,250. The car was in an accident and needed major repairs so I don't believe the true value to be close to the FMV.
Is there any way to negotiate the payoff to be the residual with the leasing company or the lessor (Wells Fargo)? Also, I have excess mileage and will end up paying about $3000 if I turn in the lease. 2008 Toyota Prius with 78,000 miles.
What is my best option...turn-in, pay the $3000, and just get another car OR payoff and hope that I can sell to try and breakeven with a dealer OR try to find a dealer that will payoff the lease??
#10 of 12 Over Lease Mileage Options?
Feb 18, 2012 (11:28 am)
I am two months before the end of my lease, my 2008 GMC Acadia but I am over mileage to the tune of $5000, if I trade my car towards the purchase of another car other than GMC and they give me what is owed on the car then would I still have to pay that mileage?
I am just trying to figure out what options other than purchasing the vehicle myself will get me away from paying the mileage?
#11 of 12 Buying VW Jetta after 2 yr. lease in Ontario, Canada
Nov 15, 2012 (8:56 am)
We intend to buy our 2011 VW Jetta TDI at the end of our lease in January. Our dealer requires that we do a safety check and a Drive Clean test (an Ontario Canada requirement) at our cost. Our question is - should we try to refuse, since it is normally the seller who incurs that cost (in this case it's our dealer)?. Also, under the normal Drive Clean rules, this car wouldn't be due for a test until 3 years old. Thanks for any advice you can give me.
#12 of 12 Re: Lease End Purchase Headache [jayk4]
Apr 29, 2013 (3:07 am)
Hi Jayk4. I just read this (very old) post. How did your lease situation turn out?