lease end buy out

NJdriver · Thu Jul 10, 2014 10:00 pm

I have a lease expiring through Ally - but i'm not letting go of this car - love it.
Has anyone negotiated the buyout cost? I did this a couple of years ago with a lexus GS and without hesitation they knocked $2,500.00 off the purchase price.

Firefly · Fri Jul 11, 2014 2:41 am

I just returned mine - did not pursue a buyout.
You would think they would love to take the cash rather than sell or auction...

sx4rocious · Sat Jul 12, 2014 2:38 am

never leased a car, but I can see how you would have the advantage in negotiations. shoot them an offer ans see what they say. With the current prices being rather bargain basement at the moment, you should be able to get something worked out. If not, remember, they are bargain basement priced. Buy elsewhere if you have too...

Sat Jul 12, 2014 7:11 pm

What's the buyout price? It's probably higher than the current market value of the Kizashi

WESHOOT2 · Sat Jul 12, 2014 8:09 pm

As a Honda salesman, I learned that Kizashi trade values suck huge wind.
Huge.
Wind.

paininthenuts · Sun Jul 13, 2014 10:30 am

WESHOOT2 wrote:As a Honda salesman, I learned that Kizashi trade values suck huge wind.
Huge.
Wind.

Don't buy it from the dealer. Ask them where it is auctioned, and try your luck

Sluggo · Sun Jul 13, 2014 11:34 pm

In my area auto auctions are only for licensed dealers, the average Joe can't get in.

LPSISRL · Mon Jul 14, 2014 4:03 pm

Let us know what happens, please.

Kelevra · Wed Jul 30, 2014 2:47 am

I was under the impression that Residual value is a fixed value, and is the same at the beginning and end of a lease, therefore is not negotiable as the car is owned by the bank, not the dealer.

Firefly · Thu Jul 31, 2014 3:22 am

Kelevra wrote:I was under the impression that Residual value is a fixed value, and is the same at the beginning and end of a lease, therefore is not negotiable as the car is owned by the bank, not the dealer.

Right - keep in mind the bank owns the car, so they can do whatever they want with selling it at the end of the lease. They may do better giving the lessee a bit of a break, rather than - most likely - getting considerably less from an auctioneer or wholesaler.

The residual value set at the beginning of the lease is a projection and is fixed value based on factors that you can't negotiate. No more than you can negotiate a bank's appraisal on a home. However current market prices can be negotiated. And at the end of the lease the value is no longer a projection, so the value can be adjusted to the current market.

The buyout is between the lessee and the bank. The only interest for the dealer in the "end-of-lease" process is to facilitate getting another car from them.

Hey NJ, give us an update!