End of lease buyout

[OrthoGV60]

Anyone have success in getting a price reduction on your end of lease buy out. I want to keep my ‘23 performance but might save up to $10k if I return it and buy another used.

 

[SirJangle]

Anyone have success in getting a price reduction on your end of lease buy out. I want to keep my ‘23 performance but might save up to $10k if I return it and buy another used.

I'm not aware of any finance company that will negotiate a lease buyout. Think about it. They would lose money as your monthly lease payment is dependent on the money factors. The residual value is one of those factors. Your choices are to bite the bullet or turn it in and walk away.

 

[Mcc]

I'm not aware of any finance company that will negotiate a lease buyout. Think about it. They would lose money as your monthly lease payment is dependent on the money factors. The residual value is one of those factors. Your choices are to bite the bullet or turn it in and walk away.

Precisely right!
However, there can be a little sleight of hand here. If you want to buy a new car, the dealer can make it “look” like you are getting a better dealer on the buyout but just know that the difference has to come from somewhere else in the deal.

 

[Cabbage]

We will likely buy ours too, although we still have over 2 years left on the lease. My plan will be to find out what it will cost to buy the one we currently have and then compare that price with what it would cost to buy a similar used GV60 from somebody else. If it will be significantly cheaper to buy the other car, we'll just turn ours in. If the price is similar then we'll keep the one we have even it is just a bit higher.

 

[SirJangle]

We will likely buy ours too, although we still have over 2 years left on the lease. My plan will be to find out what it will cost to buy the one we currently have and then compare that price with what it would cost to buy a similar used GV60 from somebody else. If it will be significantly cheaper to buy the other car, we'll just turn ours in. If the price is similar then we'll keep the one we have even it is just a bit higher.

Same here. My lease is up July 2026. Even if my residual value is slightly higher than market value, I'm buying it. This is because I love it, I've had zero problems with it, I know exactly how it's been taken care of and driven, and it only has 15K miles on it at 2 1/2 years old. These aspects are worth the potential extra cost to me.