Off-lease 4.6s?

[thinking]

The early 2009s are ~ three years old. Given this, is it likely that we'll be seeing a stream of lease returns in dealerships (or in private party sales) soon? Any information on what the residual will typically be for these? I'm looking at picking up a used one of this vintage and am trying to get a sense of a fair price in south florida - thanks.

 

[msitter]

I don't think the residual will be near the sale price. Others here have been able to flip their off lease Gennies at a tidy profit at lease end. Dealer and leasee have first call on the car at lease end. The leasee has first call to purchase at the end of the lease. If the buyout is less than market value he would be stupid not to purchase and flip the car at a profit, certainly the car will not be sold under market as a favor to a stranger and leave any money on the table.

 

[thinking]

thanks m - to clarify, am not looking for empty favors from strangers, just for information on what residual values are, whether there are likely to be a number of (used) cars coming on the market, etc.

 

[BacktoHyundaibychoice]

thanks m - to clarify, am not looking for empty favors from strangers, just for information on what residual values are, whether there are likely to be a number of (used) cars coming on the market, etc.

"Early" ones are already gone. At least in my region, many original leases were for 27 months. As mentioned above, I was able to purchase for $23k and flip for $28k toward my Horse. Check Edmunds for current values, but I'd guess an '09 is around $24 / $25k (?). Don't forget it may be 3 years old but 4 model years old.
Good luck!

 

[thinking]

thanks - will continue to keep my eyes open for one in that price range. Enjoy your horse, perhaps I'll be galloping behind one day in a 4.6...