Lease buy out question!
#1
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Lease buy out question!
Hi everyone - I am new here and looking for a little insight.
I want to joing the team and am currently looking at a CPO 2008 ISF. The car has 31k miles and is in good shape. The car was bought buy the dealership at the end of a lease. Searching around the forum, it looks like the lease buy out is typically about 34k-35k - is that accurate for most leases?
I am trying to get a base for what they paid + the money they put into the vehicle to CPO it, to determine where I will start my negotiating.
The car is a 2008 Mercury Silver, 31k miles, ML/Nav, CPO in good condition. They are currently asking 44k.
Any thoughts regarding the car or lease buy out information would be greatly appreciated. Thank you in advance and I look forward to joinging the club and being a regular contributor to the forum!
Regards,
Andrew
I want to joing the team and am currently looking at a CPO 2008 ISF. The car has 31k miles and is in good shape. The car was bought buy the dealership at the end of a lease. Searching around the forum, it looks like the lease buy out is typically about 34k-35k - is that accurate for most leases?
I am trying to get a base for what they paid + the money they put into the vehicle to CPO it, to determine where I will start my negotiating.
The car is a 2008 Mercury Silver, 31k miles, ML/Nav, CPO in good condition. They are currently asking 44k.
Any thoughts regarding the car or lease buy out information would be greatly appreciated. Thank you in advance and I look forward to joinging the club and being a regular contributor to the forum!
Regards,
Andrew
#3
Agreed. Despite the economy, car sales in the US have been pretty good in recent months so take that into consideration. Can't hurt to haggle, and dealers have more wiggle room with used cars as opposed to new.
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Juanca - Thank you for the quick response. I agree 40k would be fair, idealy I would like to pay 39k.
I am really interested in the buyout amount for a lease so I can use that information to negotiate. They have put 2k into the car based on the service history they pulled for me to CPO the vehicle. It has been on the lot for 1 month.
I am really interested in the buyout amount for a lease so I can use that information to negotiate. They have put 2k into the car based on the service history they pulled for me to CPO the vehicle. It has been on the lot for 1 month.
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Tokyo - While I understand what you're saying, I also don't. If you can elaborate that would be great.
The way my mind thinks about it, the approx. purchase price + the 2k in service they did gets me to a space where above that is dealer profit and I can negotiate from.
The way my mind thinks about it, the approx. purchase price + the 2k in service they did gets me to a space where above that is dealer profit and I can negotiate from.
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#9
I guess I'm trying to say that performing serv/maint. is part of owning the car and you can't expect to get that back on the sale of the car. It's like cars not holding their value when heavily modded as opposed to OEM. A dealer isn't going to give you compensation for adding an exhaust and intake on a trade in for example; if anything, it will deduct from the value because trying to resell a car with a voided warranty is a crap shoot.