My job recently changed which makes leasing quite unfeasible due to the mileage I’ll be incurring. I have 3 payments left on my current lease. I am thinking of purchasing the car at lease end. Wanted to know if there is any wiggle room in getting the purchase price down to align with market. Also is there any benefit to working through the dealer? Thanks appreciate any advice!
As far as I know, the answer is no. The purchase price was predetermined in the very beginning when you had signed the lease contract.
Also, if your vehicle is worth much less than the purchase price…either eat the payments now (trade in and purchase another) OR let the lease sit and purchase another.
This is like the fourth time this has been asked in less than two weeks…
Either way, generally there is no negotiation the pre-determined contract terms that you signed when you took the lease.
I haven’t heard of any captives being like “Yeah sure, we’ll just ignore the contract and give you current market value.”
If you love the car, just buy a CPO version of it that’s under your buyout?
You could at least give details on the car, make model miles payoff
I’ve only seen captives do this if they are truly taking a bath like on the first gen Leaf. There’s typically no negotiation though. There was a loophole at BMW that allowed a dealer to resell a car at dealer’s special buy out price, but that got closed last year.
It’s a 2016 Jetta sport 33k miles lease expires in July. I have no problem finishing the lease over I won’t be over miles or anything. Just rather buy a car I know hasn’t been abused and taken care of. I had the thought the captive or dealer would be willing to make a guarantee sale because if not I could just turn the car in and walk.
Captives are typically insured in the event of loss of value, so whether you buy it at the pre-negotiated buy out price, they sell it to another dealer, or just send it to auction, they’re ok with whatever you decide.
My lease is up on a 2016 Tiguan Se 4motion tried to negotiate with VW finance would not budge. Saw the same MY but 1 trim level up and 12k miles less for the same price onVW lot. Go figure
Just turned in 2 2016 Jetta’s, S model, residuals were about $1k to $2k over what they were actually worth. I’m assuming yours is $12k range if it’s not an S. In my opinion you’d be better off seeing what you could negotiate on a new one at the end of the lease. Personally I’d rather have a new car with less options and all the warranty for a few grand more. 2016 has no warranty left at the end of the lease. The 2019 is on the MBQ platform, much nicer car and more standard features than the 2016. Oh and vw gives no shi*ts if you buy the car at the end of term. New ones have the 7yr 100k I believe