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08-06-2009, 03:13 PM
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#1 | | NEWBIE ACCOUNT!
Join Date: Jan 2008 Location: Vancouver
Posts: 22
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| Lease Buyout
Hi guys
I was just wondering if you can negotiate the lease buyout price of a vehicle. I think I want to buyout my lexus rx 330 instead of getting a new one. Also, are there any other things I should know about buying out a lease? This is the first vehicle I have ever leased and had planned to return the leased vehicle, but I do not like the new rx 350 so I guess I will purchase it the rx 330.
Thanks
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08-06-2009, 03:20 PM
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#2 | | I answer every Emotion with an emoticon
Join Date: Apr 2005 Location: Vancouver
Posts: 7,760
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i dun think u can. The lease payment is calculated accoring the buyout/residual value. That means the buyout price is agreed upon when the lease was signed.
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08-06-2009, 03:24 PM
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#3 | | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
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It should be whatever your buyout is plus tax of course and like above I'm almost positive it is non negotiable. You had the option to negotiate when you leased your vehicle, you signed a contract and agreed to pay "X" amount of dollars over a certain term with the option to buy it for "Y". You can't go back at the end and renegotiate "Y", it would defeat the whole purpose of the original contract.
If the buyout is more then what it would cost you to buy that same vehicle just give it back, walk away and buy one from someone else. If it's less then go for it.
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08-06-2009, 05:23 PM
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#4 | | I'm invisible
Join Date: Jun 2002 Location: 604 Vancouver
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On the insurance side, the current insurance will be canceled, and you will need to purchase new insurance and new plates.
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08-06-2009, 05:39 PM
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#5 | | F**K YOUR HEAD
Join Date: Apr 2009 Location: vancouver
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just think about it, why would they bother negotiating with you? They've already guaranteed your sale sort of, although u wouldn't go back but seeing as it's lexus I don't see any reason to go back neways for a while  | |
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08-06-2009, 06:04 PM
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#6 | | No Duplicate Accounts Allowed
Join Date: Apr 2007 Location: BC
Posts: 818
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but is it a gain for the dealer when the leaser decides not to buyout?
if its not, wouldnt they want us to buy it by negotiating the price?
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08-06-2009, 08:41 PM
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#7 | | private modder
Join Date: Feb 2002 Location: North Shore
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the lease is a contract with the leasing company not the dealer. the price on the lease agreement is the price you pay. 9/10 times it is non negotiable. never hurts to ask though.
typically if you choose not to buyout the lease, the leasing company puts the car up for auction and dealers will bid on it.
I bought my car off a lease return a couple months ago, so I did a lot of homework surrounding buyouts and the rules.
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08-06-2009, 10:56 PM
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#8 | | racing & tech mod.
Join Date: May 2004 Location: Vancouver
Posts: 4,034
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| Quote:
Originally Posted by simsimi1004  but is it a gain for the dealer when the leaser decides not to buyout?
if its not, wouldnt they want us to buy it by negotiating the price? | Not neccessarily. Quite often, we have lease returns where OUR DEALER BUYOUTS, while still less than the customer's buyout was, are still SKY HIGH. We say screw it, let it go to auction.
Most times they are NOT negotiable.
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08-07-2009, 08:12 AM
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#9 | | I only answer to my username, my real name is Irrelevant!
Join Date: Oct 2002 Location: CELICAland
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you can negotiate...... you can negotiate everything.... its been done ^^
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08-07-2009, 09:30 AM
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#10 | | racing & tech mod.
Join Date: May 2004 Location: Vancouver
Posts: 4,034
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| Quote:
Originally Posted by StylinRed you can negotiate...... you can negotiate everything.... its been done ^^ | You can not negotiate a Ford lease buyout. Most manufacturers are also non-negotiable at lease-end.
3rd party leases like Dominion or WS leasing, are sometimes, but rarely, negotiable.
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08-07-2009, 11:27 PM
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#11 | | look at these diamonds, they shining
Join Date: Apr 2008 Location: Vancouver
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my dad tried to negotiate a buyout price with benz, we were talking to a dealer of ours and he said that he never heard a case where the buyer was able to get a price lower than the price which benz issued. Good luck to you tho
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