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Deleted member 50930
Guest
If OP is okay with another loan it could work out for him ....
Personally I wouldn't want a accident history VW since you can't run them into the ground like a Toyota
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Should I buy out our leased car?
- Thread starter stangn99
- Start date
If OP is okay with another loan it could work out for him ....
Personally I wouldn't want a accident history VW since you can't run them into the ground like a Toyota
afici0nad0
Well-known member
Back in 2017 we bought out our leased Acura MDX. Primary reason was that we went over the alotted kms prior to lease end.
Fast forward to 2020. Traded the MDX for a larger SUV. MDX had 300,000kms with only regular / scheduled maintenance. Ran trouble free and served its purpose.
At the time. Didnt see any issues with buying out the car. It was the best option at the time
Fast forward to 2020. Traded the MDX for a larger SUV. MDX had 300,000kms with only regular / scheduled maintenance. Ran trouble free and served its purpose.
At the time. Didnt see any issues with buying out the car. It was the best option at the time
Agreed. All comes down to personal preference.
Personally...I'm happy (and am fortunate) not to have another payment to deal with on a monthly basis. Opens up more opportunities for the cash. Whether investing, or blowing through, it's an extra $300-500 I don't need to worry about in my budget.
I'd never buy a car with a (known) accident...however...if it was MY accident and I knew how small it was. I'd prefer that over buying an unknown as the OP was contemplating.
I'll be talking to my BIL in about 2.5 years about his GTI...sweet sweet car and it may be a good time to drop the Volt. Of course at that time I'll be considering the Mach-E also as those leases will also be coming up.
You, me and @bigpoppa should look into a new business model. Selling/leasing vehicles to people with short attention spans for their toys.
I have a few friends that I’ve got first dibs on their stuff when they get bored. Got a barely used PS4 for free last week.
They got upset I sell their stuff for profit once I get bored so I promised to split the profit with them. LoL
How do you do it on a private to private sale?
If I have a lease and its buyout is $15K but the dealer offers $17K, I now have $2k equity and $260 in tax reduction on the next car, correct?
Yup that’s how it works on a trade in.
privately you have to either run through the dealer and keep the difference. Or buy it out and then sell it lien free.
At least in the US, GM and Honda are bending over their customers. I expect Canada and other manufacturers to quickly follow suit.
www.caranddriver.com
Honda, GM Say You Can't Sell Your Lease to Someone outside the Brand
The chip shortage and demand for used cars both mean car dealerships want to make sure they get their own cars back when the lease term is over.
www.caranddriver.com
- If your lease of a GM vehicle is coming to an end, or if you plan to get out of your lease this year, your options have just shrunk. You're no longer able to take the best offer from anyone who's willing to buy the car. You now have to sell it back to GM.
- Same goes for Honda and Acura. All three automakers are changing the rules at least through the end of the year.
- Toyota is assessing the situation for its own lessees, and Ford has had a similar policy in place for years, reports
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