Anyone had luck in reducing lease-end purchase price with GM or a dealer?
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Cadillac Escalade, EXT and ESV Forum - 2007-2014 Discussion, Anyone had luck in reducing lease-end purchase price with GM or a dealer? in Cadillac Escalade Forums; I am going to try the approach that TSS suggested in another post and try to have my lease-end purchase ...
  1. #1
    DLH
    DLH is offline Cadillac Owners Fanatic
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    Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    I am going to try the approach that TSS suggested in another post and try to have my lease-end purchase price adjusted. Anyone have any pointers or luck with having their lease-end purchase price reduced to current market price levels? If so to what extent?

    Thanks

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    hcvone is offline Cadillac Owners 10000+ Posts
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    Let us know how you make out, don't know if they can adjust it being it's a contract, of course when you are basically bankrupt you may make some exceptions.

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    Spittin Game is offline Cadillac Owners Connoisseur
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    I know Lexus will negotiate the end of lease buy out. These companies dont want the cars back.

  5. #4
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    TSS
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    Naturally I want in on this thread, as I reported what my dealer told me we can do when my lease is within 6 months of ending. I have no first hand proof of the results though...yet...or how much less "market value" is as compared with the buyout price. I assume it (market value) is NADA/Kelly retail. That's fine with me, as my buyout will be over retail. Not the deal of the century, but at least a feasible way to keep a vehicle you have cared for and like. Before, it was nearly impossible to justify keeping no matter how badly you may have wanted to. Keep us updated.

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    DLH
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    Quote Originally Posted by TSS View Post
    Naturally I want in on this thread, as I reported what my dealer told me we can do when my lease is within 6 months of ending. I have no first hand proof of the results though...yet...or how much less "market value" is as compared with the buyout price. I assume it (market value) is NADA/Kelly retail. That's fine with me, as my buyout will be over retail. Not the deal of the century, but at least a feasible way to keep a vehicle you have cared for and like. Before, it was nearly impossible to justify keeping no matter how badly you may have wanted to. Keep us updated.
    It appears a NO GO. I spoke to my dealer this morning and she said that they would have to take the hit so the price appears to be set in stone. She was going to confirm so I will let you know if anything positive shakes out. Pull ahead was all they could do for now. It was worth a try!!

  7. #6
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    Where are you located?

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    DLH
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    Quote Originally Posted by TSS View Post
    Where are you located?
    VA and SC

  9. #8
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    ^^ can't help you there.

  10. #9
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    I posted this back in March:

    It's hard to say just how much the vehicle can be bought out for.
    A few of my friends have been able to deal with GMAC and bought out their vehicle for less than the stated buy out price.
    One of them actually went to another dealer than the one they got the vehicle from because GM actually owns the vehicle and not the Dealer.
    Myself, my lease is up at years end, and when I talked with my Finance person at the dealer ship,..
    he told me GM rather not take the vehicle back unless that have to.
    They'd would rather sell it to the leaser or give them money towards a new vehcile buy.
    The next time I was at the dealer I talked to the manager.
    He said "no way will GMAC negotiate."
    Then when I told him I could buy the same as I have now for less than my buyout, .... he changed his story:
    Said they, the dealer, .. could buy the vehicle from GM and then sell it to me for less than the buyout price
    It also depends on other factors.
    If the dealer has someone waiting in the wing for a nice low mileage vehicle etc, coming off lease, they won't negotiate as much because they know they have that vehicle sold as soon as you turn it in and most likely for more than you want to pay.
    The other situation is GM has to send them to the auctions and they'll get next to nothing for them all things considered.
    In my opinion, at this point in time, the only way to know how low a vehicle can be had for when coming of lease is to push for the lowest price and see what happens.
    Every dealer and situation is slightly different and won't know until you try.
    ..
    Here's an update since then:
    I found a new Dealer who does Excellent business with no BS on pricing for their vehicles.
    I asked about my Buy out for my EXT and they told me the contract is Binding ... But,..
    the dealer could take the vehicle back and it would stay at the dealers.
    I then would tell them what I would like to pay to buy it back.
    The vehicle then goes on the Auction block,.. through the Interent !
    Now the Dealer would bid on it up to what I think I'd like to pay to buy it back.
    If they get it for the right price, they would then be able to sell it back to me with a little add on in price for their time/trouble etc.

    Either way, it seems a Dealer must Technically take it back before you can buy it back for less than the Buy Out in the Contract,.. so there are ways to get it for less

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    corvette00 is offline Cadillac Owners Fanatic
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    Normally GMAC will not negoitate the lease-end buy price. However, the dealer can buy the vehicle for an amount lower than your price (auto quote price). The dealer cannot sell the vehicle back to you when they purchase it for the lower price. But, the dealer can sell the vehicle to a spouse when it has been purchased for the reduced price.

  12. #11
    z06bigbird is offline Cadillac Owners Connoisseur
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    Quote Originally Posted by Dif View Post
    I posted this back in March:

    It's hard to say just how much the vehicle can be bought out for.
    A few of my friends have been able to deal with GMAC and bought out their vehicle for less than the stated buy out price.
    One of them actually went to another dealer than the one they got the vehicle from because GM actually owns the vehicle and not the Dealer.
    Myself, my lease is up at years end, and when I talked with my Finance person at the dealer ship,..
    he told me GM rather not take the vehicle back unless that have to.
    They'd would rather sell it to the leaser or give them money towards a new vehcile buy.
    The next time I was at the dealer I talked to the manager.
    He said "no way will GMAC negotiate."
    Then when I told him I could buy the same as I have now for less than my buyout, .... he changed his story:
    Said they, the dealer, .. could buy the vehicle from GM and then sell it to me for less than the buyout price
    It also depends on other factors.
    If the dealer has someone waiting in the wing for a nice low mileage vehicle etc, coming off lease, they won't negotiate as much because they know they have that vehicle sold as soon as you turn it in and most likely for more than you want to pay.
    The other situation is GM has to send them to the auctions and they'll get next to nothing for them all things considered.
    In my opinion, at this point in time, the only way to know how low a vehicle can be had for when coming of lease is to push for the lowest price and see what happens.
    Every dealer and situation is slightly different and won't know until you try.
    ..
    Here's an update since then:
    I found a new Dealer who does Excellent business with no BS on pricing for their vehicles.
    I asked about my Buy out for my EXT and they told me the contract is Binding ... But,..
    the dealer could take the vehicle back and it would stay at the dealers.
    I then would tell them what I would like to pay to buy it back.
    The vehicle then goes on the Auction block,.. through the Interent !
    Now the Dealer would bid on it up to what I think I'd like to pay to buy it back.
    If they get it for the right price, they would then be able to sell it back to me with a little add on in price for their time/trouble etc.

    Either way, it seems a Dealer must Technically take it back before you can buy it back for less than the Buy Out in the Contract,.. so there are ways to get it for less
    1. Lease cars (after return to dealership) are auctioned off to other GM dealers. If your friendly dealer bids, and if he is outbid, you are out of luck.
    2. With all of the bargains out there today (rebates and low interest rates), you can secure a new comparably equipped vehicle for substantial $$ less than your older vehicle.
    3. Someone can correct me, but I think I am right.

    (Dealers frequently pay more for vehicles with low miles and vehicles with lots of eyeball. [Red, dark gray, etc.])

  13. #12
    Dif's Avatar
    Dif
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    Re: Anyone had luck in reducing lease-end purchase price with GM or a dealer?

    Quote Originally Posted by corvette00 View Post
    Normally GMAC will not negoitate the lease-end buy price. However, the dealer can buy the vehicle for an amount lower than your price (auto quote price). The dealer cannot sell the vehicle back to you when they purchase it for the lower price. But, the dealer can sell the vehicle to a spouse when it has been purchased for the reduced price.
    Quote Originally Posted by z06bigbird View Post
    1. Lease cars (after return to dealership) are auctioned off to other GM dealers. If your friendly dealer bids, and if he is outbid, you are out of luck.
    2. With all of the bargains out there today (rebates and low interest rates), you can secure a new comparably equipped vehicle for substantial $$ less than your older vehicle.
    3. Someone can correct me, but I think I am right.

    (Dealers frequently pay more for vehicles with low miles and vehicles with lots of eyeball. [Red, dark gray, etc.])
    I agree, the Sales Manager told me that too..
    But the same Sales Managers told me it can be bought by the person returning it at Lease end , if ,.. his Dealership " first " puts it up for sale on the Lot.

    I may be reading to much into this but, I would think if the dealer put it up for sale, I don't know how they could refuse not selling it to someone just because they happen to be the one who returned it ?

    Personally, who knows, maybe now there's no way around it.
    But I know in the past a few friends of mine talked directly with GMAC and bought out their Lease vehicles for less than the Lease buy out price.

    I'm interested in buying a 2010 at Lease end, depending on the deal I can get.
    But, I'm also interested in buying mine out for the contract price of 36K ( or less IF possible ) because it will not even have 15k miles on it by then.

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