Buying out a lease
05-24-2017, 08:56 AM
#11
So MSRP 41,000. Original lease was 2 years, 4800 down, 179 per month. 24,000 buyout price at the end of the term. No negative equity rolled into the loan. Then when he went back they said to buyout it out was gonna be 411 per month with an addition 5500 down. For 7 MORE years. I wasn't there but that sounds ridiculous.
I doubt that he gave you the correct information. My last car was a lease and I bought it after the lease was up. When I leased the car it was 35000 (Nissan Xterra Pro 4X) lease payment was 450 no money down. I was told the buyout was going to be 17500 at end of lease. Payment was 350 a month for 5 years no money down. If he is paying that much the interest rate is high on the loan but I would be suspect that either the dealer screwed him or no money was put down on the buy out.
05-24-2017, 09:05 AM
#12
His lease is technically up in 2 months. So if he waits the 2 months it's 24000 plus tax and fiance, but if he buys it now it's almost 40000? I understand what your saying but that's a hell of a difference. So in short they were trying to screw him by not telling him his options.
05-24-2017, 09:09 AM
#13
His lease is technically up in 2 months. So if he waits the 2 months it's 24000 plus tax and fiance, but if he buys it now it's almost 40000? I understand what your saying but that's a hell of a difference. So in short they were trying to screw him by not telling him his options.
05-24-2017, 09:40 AM
#14
Starting to understand what happened. His plan was to buy it out. He went in 2 months early to see the numbers for buying it out or ordering a new 2017 lease. They scared him away from buying it out by throwing a huge number at him and not telling him to wait Till the end if the term. So instead he ordered a 2017 and is gonna be starting a new lease term, getting him stuck in the lease cycle. Which is a another story because he wanted the same truck as before except he wanted the rearview camera. So god knows what package they told him he needed to add to get that. His new lease term is 297 a month with 5500 down for 2 years. I wish he would ask for help, the guy doesn't even know how to use the internet to do any research before going in...
05-24-2017, 10:47 AM
#15
Starting to understand what happened. His plan was to buy it out. He went in 2 months early to see the numbers for buying it out or ordering a new 2017 lease. They scared him away from buying it out by throwing a huge number at him and not telling him to wait Till the end if the term. So instead he ordered a 2017 and is gonna be starting a new lease term, getting him stuck in the lease cycle. Which is a another story because he wanted the same truck as before except he wanted the rearview camera. So god knows what package they told him he needed to add to get that. His new lease term is 297 a month with 5500 down for 2 years. I wish he would ask for help, the guy doesn't even know how to use the internet to do any research before going in...
Most car salesmen are shady. It is even worse when they take advantage of an older person. I would go have a talk with them. Lucky for me my sales guy at my local ford dealer is a good friend of mine from high school so he knows better
