Lease end buyouts

[Huntermr]

I was wondering if anyone had any success at leas end in trying to negotiate to buy out their DTS at less then the stated residual or buy out amount on the lease? I like my 2007 DTS which is coming up on lease end in a few more months, but with the buy out amount shown much higher then I can buy the exact same car for from a dealer, I wonder if it is even possible to negotiate a lower price? It would seem that GM and GMAC would do a lot better that way, then simply taking the car back and selling it at auction for less yet to another dealer, who would then sell it hopefully, for what I'd be willing to pay in the first place.

[c5 rv]

I would bet that GMAC, GM, and the dealer community have an agreement that prevents GMAC from dropping the buyout price so that customers are encouraged to buy or lease a new vehicle rather than buy the one they have. It also provides dealers with a supply of used cars that they can make more profit on over selling a new car.

[Superjim]

I have heard of some dealers that will work with you...
you turn the car in...
they run it thru the auction and buy it back at a much lower price than your original residual...
then sell it back to you.

Everybody wins.

Doing that would be up to the dealer of course.
Wouldn't hurt to go talk to them about something like that.

Texas Jim

[CalDrvr]

Huntermr,

Let us know how your search for a solution turns out. Many of us might like to find a similar deal.

Chris

[TSS]

I would love to do that with my Lade. I want in on this thread, in case anyone is able to do it!

[z06bigbird]

Superjim or nothing. That way works. (Even his wife says he ain't as dumb as he looks.) LOL

[Huntermr]

Here is a link I just found to a GMAC program that says they will offer a quote to allow you to buy out at lease end below the "residual value" shown on the lease.

http://www.gmacleasebuyout.com/

I just send them a request for quote. Have to wait and see what they come up with.

[Rantz_alot]

I followed the link provided and I do not gewt a comfortable feeling about the site. I question whether it is affliated with GM at all; this may be obvious to you but just wanted to call that out. Looks like a 3rd party phishing for info and at best will broker a deal for you. I would tread cautiously here, unless I am missing something obvious.

[corvette00]

The dealer can normally purchase your cheaper than you can. Have your dealer check on an "auto quote" for your vehicle. The problem is GMAC will not allow them to sell the vehicle back to the lease holder. However, it is ok to title the vehicle is a spouse's name. Do not waite until you make your last payment before you check this, normally the dealer price will go up. The GMAC quote is really the luck of the draw, some vehicles it will make a big difference and others it will not. The dealer price on my vehicle was 12k less than my contract buy.

[clasione]

I tried asking GMAC about this and surprizingly, they were not at all interested in making me a better offer, regardless of the fact that my buyout rate is over what a large SUV will sell for these days....

[jjm01]

What Corvette00 mentions is exactly how it's done - and you can go to any GM dealer to make it happen, because they can all buy off of GMAC. If you don't have a spouse, have someone else buy it for you, and flip the title. You'll have to pay sales tax, but if we're talking upper 4 figures or even 5 figures it's worth it. Also under this method, you don't pay the mileage penalty.

It also helps if you throw some "green" $$$ to the salesman make it happen, aside from what the dealer marks up from GMAC quote.

Don't waste your time calling GMAC - they're not going to do anything. And from their standpoint it makes sense... who would buy a car if leasing was always win-win?

Joe