: Purchase at end of lease



gp56
09-13-09, 07:12 PM
Have any of you bought your V's at the end of the lease? I have an 07 STS V and I just checked my paperwork and the option to buy price on my lease is 47900 in September 2010! Car has 10K miles right now but cant be worth any more than mid to high 30's right now, never mind in 1 year! I would love to buy it at lease end but I cant see GMAC dropping the price by almost 15K to reflect the actual market value of the car . Any thoughts?

Jpjr
09-13-09, 11:52 PM
Have any of you bought your V's at the end of the lease? I have an 07 STS V and I just checked my paperwork and the option to buy price on my lease is 47900 in September 2010! Car has 10K miles right now but cant be worth any more than mid to high 30's right now, never mind in 1 year! I would love to buy it at lease end but I cant see GMAC dropping the price by almost 15K to reflect the actual market value of the car . Any thoughts?

They definitely won't.

The car contractually will go to you for 47900 or to auction. GMAC always sends the cars to auction if nothing else because it allows their dealers to get the best cars at the best prices... indirectly supporting resids since they resell them higher.

Florian
09-14-09, 03:23 PM
I would NOT buy at that price.....maybe they will work with you on the resid. I am leasing my F-150 currently (winter ride) and I think Ford will negotiate my resid a few K....certainly not the same percentage as you, but they will move it so they dont incur the costs.


F

1fstkde
09-18-09, 07:53 PM
you never know. my buddy had a audi a6 4.2 in which his lease was up and they said the buyout was 30k...he returned the car and the salesman at the dealer said if you want to buy it or know someone to buy it he would sell it for 20k!! he already leased a benz so he called me up and i went ahead and purchased it!! so you never know,..,

freshchops
09-18-09, 11:24 PM
What, $15k in sentimental value doesn't amount to anything!??

Well, just recently purchased and have a pretty recent accumulation of market value. Bottom line is, there is a lot of nice options out there for 35k and a lot of really nice options for 40k. I can't see you coming out ahead for 48k with so many others out the for less. I think they take advantage of the convenience factor you would have buying out the lease, never having to exchange keys (or FOB's, excuse me).

For what it's worth, I would be up front with them. Do a little comparison and tell them what it would be to be worth it to you. Even if they don't completely comply, they may come down a lot. "1fstkde's" example above.

I just paid $34k even for an '06 with 16k miles. Between $35-40k, there was a lot of appealing options. Good luck either way!

gp56
09-27-09, 10:50 AM
I would definitely not pay over 35K. True there are many other options out there in this price range. I usually lease, get more car for the buck short term but I think the days of great leases from GM are over. Ideally the new CTS V would be the perfect replacement but I was quoted a price of almost 1200 per month with 3K down. Paying 800 a month now for the STS V with 4K down and MSRP is over 10K higher. Lots of other fast cars out there but not in the same class as the V's. Plus at age 52 I cant see myself in a Camaro SS for example.