Automotive

Shopping for a new vehicle with an expiring lease

  • Last Updated:
  • Aug 29th, 2017 11:18 am
[OP]
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Aug 10, 2002
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Shopping for a new vehicle with an expiring lease

I'm currently shopping for a new vehicle and every dealer has offered to take care of my lease before it expires in a few months. I've politely turned them down, since I figure they'll just factor that into the price of the vehicle, but out of curiosity, how would this even work? Aside from my remaining payments, I'm sure there's added cost on their end to factor in.

The only reason I'd consider it is because stock of the vehicle I want ('17 Accord EX-L V6) is really drying up.
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Jul 30, 2007
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No catch if you are getting full factory credit + your desired discount off from the dealer side.

As for the current lease, dealer will not charge you any admin fee for accepting your early turned in. After all, if you car is very clean, in high demand, few replacement parts needed and low mileage , dealer can buy it out from the owner of the car and they in turn will list for higher price at initial listing for resale
[OP]
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booblehead wrote:
Aug 28th, 2017 6:30 pm
No catch if you are getting full factory credit + your desired discount off from the dealer side.

As for the current lease, dealer will not charge you any admin fee for accepting your early turned in. After all, if you car is very clean, in high demand, few replacement parts needed and low mileage , dealer can buy it out from the owner of the car and they in turn will list for higher price at initial listing for resale
Interesting, I didn't even consider the possibility of the dealer buying the car outright and treating it as a trade; I just figured they would take over the lease, pay off the remaining payments, then return the vehicles themselves.

I won't get my hopes up, but we'll see what the dealer offers to do later today.
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A good example would be like a Toyota Highlander, Sienna mini van ... they are in relatively high demand and dealers are listing them in ultra high premium pricing.

So, just go in and see what the dealer is offering you and go from there. If you don't like their game of manipulating #s, then tell them you will think about it.
[OP]
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booblehead wrote:
Aug 29th, 2017 10:39 am
A good example would be like a Toyota Highlander, Sienna mini van ... they are in relatively high demand and dealers are listing them in ultra high premium pricing.

So, just go in and see what the dealer is offering you and go from there. If you don't like their game of manipulating #s, then tell them you will think about it.
Yeah, if I'm losing money or am exposed to risk I will walk and just sit out the remaining lease period. I just did a CBB check and the low evaluation is about $1000 higher than the residual on my vehicle, so maybe they'll be able to do something for me.

Thanks for your help!

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