: Question about my 2007 Escalade lease buy out?



timetofly
02-04-10, 07:41 PM
I have a 2007 Escalade that I assumed from someone for a real bargain (715 per month) for two years. The vehicle has every option and I would say is in pretty near mint condition and I am way under mileage (29,400). The lease is now up and my buyout figure is $38,500. GMAC told me to go to any dealer to negotiate purchase or to return it. Two different dealer told me the buyout if non-negotiable, despite trying to get GMAC down in price. I offered $37,000 but they wont take it. In addition the dealer charges a 700 dollar fee for the sale and 100 or more for tag transfer which I feel is a rip but again they told me it is a requirement and wont remove it. Is that accurate?
I really like the truck and know its history but I felt the price may be high. I see these online for 32,000 up to 45,000.
I wanted some opinions about whether or not that is a good deal on buyout. I am struggling with the decision for sure here and any help is much appreciated.
Thanks

dogdude
02-04-10, 09:16 PM
I think your question will generate alot of different viewpoints and thoughts, so i thought i would offer up my two cents. I just bought the same vehicle in Canada, 07 loaded except power boards, very clean, same mileage for approx 52K (about 50K US), now i know thats in Canadian funds, but with the dollar so close, its relative. I would of jumped at your deal, especially since you know its history and like the vehicle. There are alot of junk vehicles out there, and i paid premium, but the lade was perfect and well looked after, hence made my decision easier. Not sure of the market where you live, but if you can pick it up for what you say, and its between the average selling numbers you listed, why wouldnt you? Im sure you can find another one for less, but then you really dont know the history. Carfax can only tell you so much.

As far as the lease buyouts go, i've had two seperate ones in the past, and both were ironclad, written by about a hundred lawyers im sure, but no room to negotiate. I know they also want to charge extra for anything other than normal wear and tear, and man can they find stuff when they are looking, tire tread depth, chips in paint, etc., so you might have to come up with extra just to turn in back in.

Just offering my opinion, hope this gives you some insight as to how good a deal it is from a Canadian viewpoint!

Mike

snubdeville
02-05-10, 08:42 AM
The buyout price is not far off of the market value right now. I live in Northeast Pa, 07 Lades are doing that money all day long on "dealer lots". private seller values are around $36k. If you take into consideration the Caddy "used certified", you equal their buyout. I bought my 07 EXT as an early lease return from a local dealer, I did however wait for them to put it in the sale line and then went back to beat them up on the price. drove it home for $36k.

hope that info helps ya ! cheers !

zam2000
02-05-10, 10:40 AM
Is it regular or ESV ? If it's ESV, you got a great deal. If it's not, it is a good deal, depend ....

Color is another factor. Black and pear white capture better price.

If it's a Black ESV, awesome deal.
If it's a red short-wheel-base, it's a wash.

Shop around. But keep in mind that for any car you see on dealer lot, you don't know it well. You know your car well.


I have a 2007 Escalade that I assumed from someone for a real bargain (715 per month) for two years. The vehicle has every option and I would say is in pretty near mint condition and I am way under mileage (29,400). The lease is now up and my buyout figure is $38,500. GMAC told me to go to any dealer to negotiate purchase or to return it. Two different dealer told me the buyout if non-negotiable, despite trying to get GMAC down in price. I offered $37,000 but they wont take it. In addition the dealer charges a 700 dollar fee for the sale and 100 or more for tag transfer which I feel is a rip but again they told me it is a requirement and wont remove it. Is that accurate?
I really like the truck and know its history but I felt the price may be high. I see these online for 32,000 up to 45,000.
I wanted some opinions about whether or not that is a good deal on buyout. I am struggling with the decision for sure here and any help is much appreciated.
Thanks

Dif
02-05-10, 11:11 AM
That price sounds about right, maybe a tad high but not bad at all.
I just bought out my 07 EXT off a 3 year Lease for almost 37K.
I did a lot of checking around and there is no negotiating. :annoyed:
If you like the vehicle and know it's history/condition etc and happy with it, you're not too bad off for that price.
I looked long and hard before buying mine out, thinking I might find one at a lower price.
But the only ones at a lower price had way more miles and as mentioned, who knows what the real condition is.
Good luck whatever you decide :)

gfenton1
02-06-10, 02:10 PM
I am in the same predicament. 2007 Escalade EXT lease runs out in April. I can give it back early, and I'm thinking of the new SRX. Price to buy the EXT is about the same as a new SRX. The truck has some scratches, but it only has about 15,000 miles on it. I'm questioning whether new is better and also leasing again vs. buying.
I have compared the SRX with Buick Enclave and it's shocking. No difference in price, but you get more with the Cadillac.