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Old 06-27-2009, 07:32 PM
 
841 posts, read 805,982 times
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Anyone done this before? Suggestions? Can I expect the auto company to offer to finance the buy out amount or will I need the cash?
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Old 06-27-2009, 08:08 PM
 
Location: Lake Norman, NC
5,942 posts, read 6,784,734 times
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I bought a 1999 Ford Expedition at the end of a 39 month lease. We bought it because the purchase price was quite low and we had less than 25K miles on the truck at that point. It was garage kept and used sparingly.

Ford offered a finance package for the sale amount, which we too initially. I paid off the loan when I was laid off from work a few months later.
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Old 06-28-2009, 07:33 AM
 
Location: Fort Mill, SC
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just purchased mine, easy and they financed. Offered 3 grand less than the kbb value and they took it. I was also able to negotiate the interest rate...
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Old 06-28-2009, 08:12 AM
 
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Lots of variables involved with buying out your lease. What's the market like for your car? What's the buyout in relation to the residual value? Is it leased through a bank or a captive finance company?

Your lease contract sets the buyout amount at the end of the lease. As to whether you would want to buy it out, that depends on whether the residual value is higher or lower than the market value. If it's higher, the leasing company may or may not negotiate the buyout amount to bring the buyout in line with the market.

Give us some more info so we can help, year/make/model of car, your basic lease terms, and the leasing company.
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Old 06-28-2009, 10:24 AM
 
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It's an 05 jetta and I have it leased with Volkswagen credit. I don't recall the org. lease terms, other than the length and miles.
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Old 06-28-2009, 10:44 AM
 
Location: CLT native
4,282 posts, read 7,073,860 times
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In truth it is all very negotiable.

Get out the original contract, compare the contract residual value to KBB and other market values and make an offer.
You'll do better since you are already with VW Credit than an independent.

They really do NOT want the car back, esp in this market, it is just going to auction more than likely.
You really are in the driver's seat [excuse the pun ]

Otherwise you can always just lease another (I've leased 5 VWs in the last decade) and they are running great deals now.
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Old 06-28-2009, 11:45 AM
 
991 posts, read 1,776,960 times
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Don't mean to jump on OP's thread, but I'm in the same situation. My buyout it $14000.00, blue book is $17300.00ish.

Being that the buy out is lower then bluebook, do you think they will still take a lower offer? I was thinking of offering $12,800.00.

It's a 2005 Toyota Tundra 2WD with 40,000 miles. My last payment is July and it's due back August 1st.
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Old 06-28-2009, 12:18 PM
 
Location: Fort Mill, SC
745 posts, read 1,468,071 times
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Quote:
Originally Posted by Mike View Post
Don't mean to jump on Po's thread, but I'm in the same situation. My buyout it $14000.00, blue book is $17300.sh.

Being that the buy out is lower then bluebook, do you think they will still take a lower offer? I was thinking of offering $12,800.00.

It's a 2005 Toyota Tundra FWD with 40,000 miles. My last payment is July and it's due back August ST.
Do it, ours was a 04 Sequoia, 49,000 miles. Got a great deal with our leasing company USBank...KBB had it at $17,500 and some change and we got it for less than $14,000...
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Old 06-28-2009, 04:42 PM
 
Location: Indian Trail
533 posts, read 841,389 times
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I had the opposite, I turned in my 05 explorer that the buyout was 16500. They were selling for less, around 13000, and ford would not budge on the price. The explorer waas on the lot for 2 months as they tried to sell it for 17000. I wonder what they got for it.
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Old 06-28-2009, 09:36 PM
 
991 posts, read 1,776,960 times
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Quote:
Originally Posted by car421 View Post
I had the opposite, I turned in my 05 explorer that the buyout was 16500. They were selling for less, around 13000, and ford would not budge on the price. The explorer waas on the lot for 2 months as they tried to sell it for 17000. I wonder what they got for it.


???

Isn't that good? They took $3500 off buyout price?
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