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Anyone ever buy a car they were leasing?
Posted on 6/25/18 at 5:57 pm
Posted on 6/25/18 at 5:57 pm
Not sure what we're going to do. Acura TLX currently with 25k miles. We have the option to buy for around $19k. KBB is around $21k-$22k. Anything to look out for?
This post was edited on 6/25/18 at 5:59 pm
14
Posted on 6/25/18 at 6:07 pm to LSUlefty
If you like the car, check the retail pricing on them. If you’re comfortable with it’s reliability and it’s retail price is more than the lease residual, go for it. You know its’ history so you should be able to make this decision easily.
FWIW I just bought a lease turn in Acura for a really good price.
FWIW I just bought a lease turn in Acura for a really good price.
This post was edited on 6/25/18 at 6:09 pm
Posted on 6/25/18 at 6:09 pm to LSUlefty
quote:
Anyone ever buy a car they were leasing?
Posted on 6/25/18 at 6:10 pm to LSUlefty
I wouldnt do it! Go lease a 2019 TLX if thats the car you really like.
Posted on 6/25/18 at 6:16 pm to LSUlefty
If you want to own a used car there is no better car to buy than an off lease vehicle. Especially if you are the one who leased it.
As long as the numbers add up, and you definitely want to own a car rather than rent a car, then go for it.
If you prefer to rent a car (love dat new smell and touch screen, can't afford to buy, get to write off for business, etc) then just go pick out a 2019 model and enjoy a new one.
As long as the numbers add up, and you definitely want to own a car rather than rent a car, then go for it.
If you prefer to rent a car (love dat new smell and touch screen, can't afford to buy, get to write off for business, etc) then just go pick out a 2019 model and enjoy a new one.
Posted on 6/25/18 at 6:17 pm to Geauxtiga
quote:
What is KBB?
Kelley Blue Book
Posted on 6/25/18 at 6:19 pm to LSUlefty
Never leased a vehicle.
Posted on 6/25/18 at 6:20 pm to LSUlefty
You know the car.
I did it.
I did it.
Posted on 6/25/18 at 6:26 pm to ScopeCreep
quote:
it’s retail price is more than the lease residual, go for it. You know its’ history so you should be able to make this decision easily.
That's what I'm thinking. We'll probably just buy it.
Posted on 6/25/18 at 6:26 pm to LSUlefty
I might not understand the leasing scenario...but in the end wouldn't that mean you paid like a couple thousand more for a new car, because you were just paying to use the car prior?
Or does a leased car become all that much cheaper since it is not lot-new?
Or does a leased car become all that much cheaper since it is not lot-new?
Posted on 6/25/18 at 6:55 pm to Pectus
All depends on the residual and what the estimated value is .
Posted on 6/25/18 at 6:59 pm to IllegalPete
quote:
If you prefer to rent a car (love dat new smell and touch screen, can't afford to buy, get to write off for business, etc) then just go pick out a 2019 model and enjoy a new one.
Most buyers never own a car they "buy" so you are renting a car just as much as those leasing one at a lower payment.
Posted on 6/25/18 at 7:04 pm to LSUlefty
When I had 4 stores we leased the trucks on a fleet plan. My nephew wanted one and at the end of the lease you have an option to buy. I just called Fords company they use to lease us the trucks. Got the payoff. Called my bank and basically you are buying the vehicle from the company leasing it. Turn in the old plate and put on the new one as the bank or you eventually will be the owner. Pretty simple.
Posted on 6/25/18 at 7:19 pm to LSUlefty
Buying a car you leased = 84 months financing + paying $1000’s more than MSRP.
Just seems like justifying purchasing a car you couldn’t afford.
Just seems like justifying purchasing a car you couldn’t afford.
Posted on 6/25/18 at 7:51 pm to LSUlefty
I attempted to once and got talked into a new lease for $100 more per month. Can’t complain, new vehicle is larger and very well equipped plus the dealer covered half the mileage overage and the cosmetic damage on the car.
Just do your homework on buying out the lease and be prepared to say no a lot because they are going to try everything they can to get you in a new lease.
Just do your homework on buying out the lease and be prepared to say no a lot because they are going to try everything they can to get you in a new lease.
Posted on 6/25/18 at 9:31 pm to LSUlefty
A friend leased a car, put few miles on it, and kept it well maintained. He asked if I wanted to buy it for the predetermined price in the lease. He was not interested and was just going to drop it off.
It was a great price, so I stepped into his shoes and bought it. We went to the dealer, and I paid them $100 to do the paperwork. One of my better purchases.
It was a great price, so I stepped into his shoes and bought it. We went to the dealer, and I paid them $100 to do the paperwork. One of my better purchases.
Posted on 6/25/18 at 9:36 pm to Twenty 49
I bought a lease returned BMW, that was a company car, and it was mint with 24k miles. $32k for a $55k car, and I am going to literally keep it forever. Best purchase of my life.
Posted on 6/25/18 at 9:41 pm to LSUlefty
quote:
they were leasing
Posted on 6/25/18 at 10:05 pm to LSUlefty
I just did a month ago. I'll probably pay total for the vehicle more than I should have, but the monthly note was within our budget the entire time. And, to me, since vehicles don't appreciate, or even hold thier value, I'll probably always have a car note. So I look at it more like renting. My vehicle will never be an asset to me. Just figure out what I want to pay a month and buy or lease what I want in that range.
We'll prob keep the vehicle for another couple tears and then see where we are at on the loan. If we have a little value in it, we'll trade it in.
We'll prob keep the vehicle for another couple tears and then see where we are at on the loan. If we have a little value in it, we'll trade it in.
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