My Alfa Romeo lease will end in October. It is a 24 mo lease and my payment is $378. I have roughly 11k on the odometer. I don’t think that I can score a great deal in this environment. So I am toying with buying the car outright and or extending the lease. I think that the buy out cost in October would be around $27k.
Has anyone done a lease extension with Ally before? Do I need to advise them now or can it wait until October? If I did a 6 month extension, would that be my current monthly payment of $378? And would that knock about $2000 off the buy out price should I want to purchase it after the extension?
Why not try taking it to your local Alfa dealer and selling it to them? You might make a few dollars.
I am in the same boat as you. Lease is up in October for my Stelvio.
Also, from what the dealer told me. Since they have a relationship with Ally, they would get a bette price than what Ally would show they would want for the car.
I am in the exact same boat. I have about 9K miles on a 24 month lease of a Giulia Ti Sport. Lease is due to end on Halloween.
Based on my residual and what I can sell the car to Carvana for, I believe it would be a horrendous decision to just return the car at lease end. For me, I would lose about $4k - money I paid on lease but didn’t drive the miles.
Unfortunately Ally doesn’t allow a direct transfer with Carvana. So I will either have to buy the car myself and sell on for a new lease (not preferred) or “sell” the car as part of a trade/deal on a new lease.
It’s good to know about a dealer being able to get the car for less than residual from Ally. I’m sure that’s a trick up the sleeve that most dealers would keep hidden.
