Lease Buyout Question

[NAiLs00]

Well, I am going to end up just buying my 2015. I thought about the 2017, but the more and more I think about it, I think it's probably a bad choice. I remember getting an awesome deal on my 2015, and while the 2017 is a really good deal, it would leave me way behind in residual in 3 years. I don't know how the equity would work out if I handed it in early, though.... never did explore that option.

The originating dealership, where I got my 2015 from, wrote up the contract and it's costing me $660 less than the dealership by my house. I knew they were full of ****!

 

[peterk9]

........ I don't know how the equity would work out if I handed it in early, though.... never did explore that option.
The originating dealership, where I got my 2015 from, wrote up the contract and it's costing me $660 less than the dealership by my house. I knew they were full of ****!

If you are talking about leasing the 2017 and turning it in before lease end, you would still have to pay out the remaining months of the lease. While the equity (residual) will be higher, it may be offset by the payments you would still have to make. Have you tried to see if your dealership will match the $660 difference?

Peter

 

[NAiLs00]

If you are talking about leasing the 2017 and turning it in before lease end, you would still have to pay out the remaining months of the lease. While the equity (residual) will be higher, it may be offset by the payments you would still have to make. Have you tried to see if your dealership will match the $660 difference?

Peter

Sorry for the late reply... was out of town. According to the dealership that was trying to charge me more, I could do a short term lease, end it early, they take over the payments and can buy the vehicle from Ford at the residual price. In the mix you get equity out of it, strictly because they can buy it at residual price now instead of at lease end.

I've just decided to hold tight for a year, buy my 2015, see if we get some information in a couple months, and pick up a 2020 next year.

 

[peterk9]

Sorry for bumping into an old conversation. I haven't personally dealt with these fees, but I've heard of folks having some success negotiating with dealerships. It might be worth shopping around and seeing if another dealer is more flexible on these fees.

Several things have changed since this thread was posted 5 years ago. For one thing, used vehicles have really gone up in price so in some cases the actual worth of the leased vehicle is more than the residual.

Peter