potmilkz

if you buy out a lease car, do you have to return the car back to stock for them to value the car?

lets say i have suspensions on there, want to know if i need to take the suspensions out for them to value it.

would it be better for me to do it for negotiation purposes?

Will Y.

No, you negotiated the purchase price when you leased the car-- that's the "residual," so the lender doesn't have to appraise the car now for a buy-out.

You pay the stated residual plus any transfer or buy-out fee to purchase and keep the car.

Depending on the lender, you might be able to negotiate a lower-than-residual price.
However, that doesn't seem to apply to AHFC, or in my case, Wells Fargo-- those two lenders will likely stick with the residual.

oonowindoo

if you are going to buy the car, then you do NOT need to do the inspection.

You only do the lease end inspection if you want to return the car.

Also, aftermarket parts have nothing to do with the value of the car if you want to buy your leased car.

Usually you cannot negotiate the residual, but i have heard stories where people somehow could. But regardless it has nothing to do with the condition of the car. They don't care what kind of condition it is in if you want to buy it.

potmilkz

well heres my situation.

my car has factory defect paint, and i do plan to purchase the car and drive it till it stops running so i dont worry about resale value.

the car will have 30k on it when my lease is up.

since the repaint of the entire car is going to show up on carfax records will that give me some room to negotiate the price of the car since it is infact not original and a repaint? repaint will de-value the car from what i was told.

forgot to mention, its being painted right now. just dropped it off last week

oonowindoo

So how can you prove that the paint is defective after you have driven it for 30k miles? Wasn't this supposed to be done when you first purchased the car?

Also repaint the car is not going to show up on Carfax, why would you think it would show up? who is reporting it to carfax?

Repainting will decrease your resale value but not as much froom a result of an accident.

You will need some written proof from the dealer stating that it was in fact a defective vehicle, then maybe you have some bargaining power. But then again, Honda can simply say NO, just return the car then.

potmilkz

i do have proof, i got papers i signed stating that it needed warranty work with factory paint issue.

i had a acura district rep come out and take a look at the paint and they agreed that it is factory paint defect.

i dont have 30k on my car yet, it has 20k but well maintained.

i called the rep, they stated that it will show up on carfax, they will report it.

there is no accident on the car.

oonowindoo

if that is the case, you should just call your rep and ask him about the demolished value due to factory defective paint. Because i know this is not something that dealer can just say "Oh OK. i will lower $3000 for you."

potmilkz

so when my lease is up do i call the rep then to talk about the diminished value? and to lower the cost of the car when i buy it out? or should i do it now.. i have less than a year left.

JS + XES

iTrader: (1)

Just call your rep right now and ask.

Hapa DC5

I hope that car was dealer maintained to a T. The rep may go out of his way to help you out if you want to buy the car out, or tell you to go pound sand.

fuzzy02CLS

iTrader: (2)

You already asked this.... Same answer still applies. Maybe you can deal & maybe not.
https://acurazine.com/forums/car-talk-5/diminishing-value-lease-car-going-repainted-855092/

pearldrummer

Personally, I wouldn't bother buying-out the lease unless:
1) You are wayyy under your milage limit
2) You love the car so much that you want to keep it for the foreseeable future
3) Its trade in value is worth more than the buyout amount

WdnUlik2no

I thought this question looked familiar.