Anyone ever buy a leased car when the lease expired?

  • Posted by a hidden member.
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    Aug 15, 2012 4:49 PM GMT
    Depends on the car. Some leasing companies like Ally tack on a hidden fee that will be rolled into the balance if you decide to buyout a lease on cars like the Chevy Volt. $2500 in that example.

    And while yes you may be able to find a CPO car for cheaper at least this is your car and you know everything about it so far.
  • SwimBIkeRun94...

    Posts: 480

    Aug 15, 2012 6:58 PM GMT
    Be sure to learn the laws of your state.

    I know in Texas and Illinois, those who buy out their leases pay double tax (they pay tax on the full vehicle price at lease inception versus just paying tax for the portion used), and then they would pay tax again on the residual value (selling price at end of the lease). As a result, the "balloon payment" model was born.

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    Aug 15, 2012 7:59 PM GMT
    Actually the Jag was a great car. We had it for a total of ten years...and then did another silly thing...we sold it to a friend...who kept it another five years. We only sold it when my knees got so bad that I found it difficult getting in and out of it.
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    Aug 15, 2012 8:12 PM GMT
    As long it is not a Ford, they have the worst Lease Program I have ever dealt with. Comparing them with Mercedes and Honda.
  • rnch

    Posts: 11557

    Aug 15, 2012 8:45 PM GMT
    skeeter saidAs long it is not a Ford, they have the worst Lease Program I have ever dealt with. Comparing them with Mercedes and Honda.



    yeh. I recall when a ford "red carpet lease" limited you to 7,500 miles per year.



    icon_eek.gif
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    Aug 16, 2012 4:41 PM GMT
    Now ya'll are scaring me. I was thinking of buying my loaded Audi A5 convertible when the lease was up if I could negotiate a good deal.
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    Aug 16, 2012 4:50 PM GMT
    Dallasfan824 said
    Ex_Mil8 said
    Dallasfan824 said
    He bought a Jag? yikes.


    Why yikes?


    they are notoriously poorly made. It didnt matter if they were owned by Ford or whomever. They have always been very unreliable Jags are like Range Rovers and Audi S types. Great to lease. Never own one. Unless you have dddeeeeeeppppp pockets.


    Range-Rovers have a great reputation in Australia as long as they are equipped with Turbo-Diesel . In the U.S , you are plagued with the unreliable sourced Jaguar's V8's
  • MadeinMich

    Posts: 1624

    Jan 07, 2013 6:00 PM GMT
    This has been a most helpful thread. Thanks everyone for you insightful input