Can you negotiate a residual buyout at the end of a lease?
02-11-2005, 04:21 PM
#1
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Can you negotiate a residual buyout at the end of a lease?
My CL's lease is up in November 2006. I really like this car, but the residual at the end of the lease is $15,000. I know there is no way in hell this car will be worth $15,000 after 4 years. The reason it's so high, is I used to trade in cars every 6 months for 2 years and built up a lot of negative equity that was rolled into this current car.
I don't know if I should just turn it in and walk away or bite the bullet and buy it. It should have 36,000 miles by the time the lease is up.
I don't know if I should just turn it in and walk away or bite the bullet and buy it. It should have 36,000 miles by the time the lease is up.
02-11-2005, 04:56 PM
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I guess I didn't think of it that way. I just keep reading how people are getting raped NOW on their trade-ins and figured it wouldn't be worth that much in '06.
02-11-2005, 05:00 PM
#4
Suzuka Master
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buy it out.. start fresh...
why are you leasing?... do you own a business and use it as a write off... because the only way I would lease is if I was strapped for money or owned a business.
why are you leasing?... do you own a business and use it as a write off... because the only way I would lease is if I was strapped for money or owned a business.
02-11-2005, 05:13 PM
#5
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I was going through so many cars that I didn't think I'd ever want to own anything. I just figured a car payment would always be part of my budget so I went with a lease.
The CL has changed my mind about trading up too much. It has everything I'd want in a car and is rare enough that people ask me what kind of car it is more often than I'd expect. I think I will buy it out.
The CL has changed my mind about trading up too much. It has everything I'd want in a car and is rare enough that people ask me what kind of car it is more often than I'd expect. I think I will buy it out.
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