Anyone buy out your TL after lease ended?
08-28-2009, 12:56 AM
#1
3rd Gear
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Anyone buy out your TL after lease ended?
I leased my TL'08 almost 2 years ago. I was wondering if anyone has leased the car and has decided to buy out the car at the end. And if you did, what was the price they offered you?
Another question... would you recommend buying this car after a lease? I know in the end I would've paid less if I had bought it in the first place.
Another question... would you recommend buying this car after a lease? I know in the end I would've paid less if I had bought it in the first place.
08-28-2009, 01:48 AM
#2
Registered but harmless
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Yes, I bought out my TL earlier this year as the lease expired.
The buy-out and residual terms are stated in the lease contract. Some banks are willing to negotiate that amount, while others will not.
I paid less than the amount to initially buy the car only because the car was leased for business purposes and a large portion of the lease amount, insurance, etc. was deducted.
I kept the TL because I did not find another car which satisfied me enough to trade for my trouble-free and nice-running TL.
The buy-out and residual terms are stated in the lease contract. Some banks are willing to negotiate that amount, while others will not.
I paid less than the amount to initially buy the car only because the car was leased for business purposes and a large portion of the lease amount, insurance, etc. was deducted.
I kept the TL because I did not find another car which satisfied me enough to trade for my trouble-free and nice-running TL.
08-28-2009, 09:02 AM
#4
Three Wheelin'
I almost bought my 04 off lease in Feb, 08. I couldn't get the bank to lower the buyout but I could have gotten a better rate and thus lower payments by refinancing with another. Investigate all your options thoroughly. In the end, I ended up trading for an 08 when the dealer offered me the same payment with zero down. BTW, I went from a TL base to a Navi which made it worth my while. I am certainly going to consider a buyout again in Feb, 2011. Mileage on 04 was 22.4k. Current mileage on 08 is 6.1k.
09-01-2009, 08:10 PM
#6
Stay Out Of the Left Lane
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If you like the car, have taken care of it are below mileage, etc - why wouldn't you. Another thing you might want to consider is buying out the lease early. You will save some of the monthly lease cost. Some of this is as others mentioned - dependent on the lease you negotiated.
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