End of Lease - Buy or Lease Again?
#11
Why not just buy it out, since you said you like the car. Keep it for 2 years and then get the redesign when it hits the US.
If you do decide to buy it and sell it right away, you may have some taxes owed with your state, even if you sell it right away.
If you do decide to buy it and sell it right away, you may have some taxes owed with your state, even if you sell it right away.
#12
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Trlyka, while none of us know (or want to know) your personal financial situation, it's going to be least $$$ to keep the car you already know and can buy for a below-market price.
Do you have Carmax in your area? If so, get an offer from them if you don't keep the car. (You need to ensure you can convey the vehicle to a third party when dealing with the lease company. I attempted the same here in MA and VCI prevented that deal from occurring. The lease company said they are not set up as a "used car dealer" in MA and cannot transfer cars to third parties.)
I think the best strategy is to let the dealership take the car back off-lease, have them CPO it and re-sell it to you. I've seen this work very well for others in the past but, if you're not "close" to them, they'll decline doing this for you.
Do you have Carmax in your area? If so, get an offer from them if you don't keep the car. (You need to ensure you can convey the vehicle to a third party when dealing with the lease company. I attempted the same here in MA and VCI prevented that deal from occurring. The lease company said they are not set up as a "used car dealer" in MA and cannot transfer cars to third parties.)
I think the best strategy is to let the dealership take the car back off-lease, have them CPO it and re-sell it to you. I've seen this work very well for others in the past but, if you're not "close" to them, they'll decline doing this for you.
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Use the force Luke! lol
Well, I've been in your position, so I can relate. If you are smitten by new cars and have your heart set on something, you could easily be wowed by the dealer and his offerings. I know it's tempting, and I've gone for the bait too. However, in my older years now, I've come to find better compromises. I bought out my last lease, sold the car privately, and made money off of it. That profit was then used to put into a new car. So one can kind of say I ended up getting "free" money for the down payment. The whole process takes a bit of time, but I found it to be worth it.
Just an option...
Well, I've been in your position, so I can relate. If you are smitten by new cars and have your heart set on something, you could easily be wowed by the dealer and his offerings. I know it's tempting, and I've gone for the bait too. However, in my older years now, I've come to find better compromises. I bought out my last lease, sold the car privately, and made money off of it. That profit was then used to put into a new car. So one can kind of say I ended up getting "free" money for the down payment. The whole process takes a bit of time, but I found it to be worth it.
Just an option...
Yes, in my 'older years' I too can appreciate the value of what I can buy the car for, so more then likely that is what I will do. I may not sell it right away though. It depends on my finance rate. But I can probably make more by selling it right away. I don't think the dealerships take women as seriously when it comes to negotiating or offering certain things. I am hoping they work with me no matter what I decide to do.
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When I spoke to my sales person, he did mention taxes if I bought it off lease. I think he was trying to sway me into letting them give me some money for it instead. Then a new lease would cost me less or nothing out of pocket.
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Yes, I am leasing through Audi. I honestly didn't know I had an option when it came to a lease
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The dealer said the price of the car remains as is at the $22,900. The accident has nothing to do with my price for the car, it only has to do with what they would have given me towards a new one. The value drops a lot for them once my car shows up on a carfax, which it did.
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Trlyka, while none of us know (or want to know) your personal financial situation, it's going to be least $$$ to keep the car you already know and can buy for a below-market price.
Do you have Carmax in your area? If so, get an offer from them if you don't keep the car. (You need to ensure you can convey the vehicle to a third party when dealing with the lease company. I attempted the same here in MA and VCI prevented that deal from occurring. The lease company said they are not set up as a "used car dealer" in MA and cannot transfer cars to third parties.)
I think the best strategy is to let the dealership take the car back off-lease, have them CPO it and re-sell it to you. I've seen this work very well for others in the past but, if you're not "close" to them, they'll decline doing this for you.
Do you have Carmax in your area? If so, get an offer from them if you don't keep the car. (You need to ensure you can convey the vehicle to a third party when dealing with the lease company. I attempted the same here in MA and VCI prevented that deal from occurring. The lease company said they are not set up as a "used car dealer" in MA and cannot transfer cars to third parties.)
I think the best strategy is to let the dealership take the car back off-lease, have them CPO it and re-sell it to you. I've seen this work very well for others in the past but, if you're not "close" to them, they'll decline doing this for you.
I know there are much cheaper options out there, and I could look at other types of cars, but what would I be happy with......
#19
It sounds like you are doing your due diligence now. There are some good apps for you smart phone to help you determine how much it would cost to buy you car and what it would do to your payment with different interest rates / down payments / taxes / extra's like extended warranties.
I am curious to know what you decide to do.
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