Lease Buyback Experience with Leasehackr Dealers

Has anyone had any experience with lease buyback/purchase of their vehicle from the Dealers on Leasehackr? If so, were you able to keep the same monthly payment?

Are you talking about buying the car at the end of the lease? Residual value is set by your lease agreement.

Look at the review threads. They exist for a reason

…say what?

I checked the current threads, but they look to be for generic dealership leases and don’t specify a lease obtained through one of the Leasehackr Dealers. I’m specifying Leasehackr Dealers because I currently have a lease through a nissan dealership in the DC area that ends in January 2020 that blows and really wish I knew of this site before I pulled a rookie mistake of going through the dealership. I was planning on buying a used car once my lease ends because I have no interest in keeping my vehicle and want a car I can pass down to my kid in 6 years. I already started looking at used car prices (2018-2019 large/mid-size sedans) to get a gauge of what I can expect monthly payments to be, but the lease deals on this site destroy an estimated monthly car payment I would pay for a used car. If I’m able to get one of these lease deals and have the option to purchase the vehicle after the term of the said lease with the same monthly payment that would be incredible. Any advice would be appreciated or if this scenario/question was proposed in a previous thread then feel free to insert that titled thread in a reply.

I’m specifying Leasehackr Dealers because I currently have a lease through a nissan dealership in the DC area that ends in January 2020 that blows and really wish I knew of this site before I pulled a rookie mistake of going through the dealership. I was planning on buying a used car once my lease ends because I have no interest in keeping my vehicle and want a car I can pass down to my kid in 6 years. I already started looking at used car prices (2018-2019 large/mid-size sedans) to get a gauge of what I can expect monthly payments to be, but the lease deals on this site destroy an estimated monthly car payment I would pay for a used car. If I’m able to get one of these lease deals and have the option to purchase the vehicle after the term of the said lease with the same monthly payment that would be incredible.

It is almost always a bad idea to purchase a vehicle after leasing it. The manufacturers tend to inflate the residual value above true market value to make the lease more attractive . Therefore you will almost always be better off buying a comparable used car from another source and savings several thousand.

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You can pretty much set your own monthly payment after buy out, since if you get a loan, you can choose the length and rate. If you’re looking to pass a midsize sedan down to your kid in 6 years, I can’t think of any other car than Kia Optima with their 10 year warranty. (I may be a bit bias since I had two of them). Their leases are not the best, but they do not inflate the residual value, in fact it is really low, but they throw tons of incentives to move their leases.

Don’t be a payment buyer. Look at the total costs.

If you spend the next six years putting $400 a month into a high-yield savings account, at the end you can write a check for a CPO vehicle for 400 * 72 = $28,800.

The interest you earn along the way should cover the sales tax.

And then you’ll have no payments.

You are extremely confused about leasing. I recommend you read about the basics and then ask short questions.
The lease is owned by the bank, not by the “lease hackr dealers”

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I honestly cannot tell what you’re talking about or trying to get.

Lease monthly payments have absolutely nothing to do with used car value.

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I understand how leases work, residual value, and how not all leases are the same, but thanks for the tip. I just want to know if anyone has seen a significant monthly payment increase if they decided to purchase the vehicle at the end of their lease (even if they agree to a longer term loan from a bank, I know if someone takes a shorter term loan they’ll see an increased payment)? Just looking for any anecdotal examples of people able to keep the same monthly payment after the term of their lease by negotiating terms with the bank or if the banks/credit unions couldn’t come close to what you were paying regardless of the duration of the new loan and/or credit score. This question is assuming you got a lease from a bank via a Leasehackr dealer and didn’t make any extra payments.

Respectfully, It does not seem as if you understand how leases work and I suspect car buying in general.

No, you cannot negotiate the terms of the end of term buyout. The buyout/residual is fixed when you sign the contract.

There is no such thing as a “leasehackr dealer”. The deals that you see here are negotiated with dealers. There are brokers on this site that can do the negotiating for you. Your lease will still be held by a captive financier like BMW Financial or Honda Financial or Chase or Ally or whatever.

Extra payments on a lease have no affect on anything except the amount you already owe during the lease.

Monthly payment fixation…is $300/mo on an 84 month loan the same as $300/mo on a 24 month lease? Is a 7.5k mile/yr lease the same as a 20k mile/yr lease? Does it matter if your due at signing is $0 or $5000?

You are only concerned about monthly payment buying out a lease but ignoring the two things that will most tremendously affect this proposition: the actual value of the car and it’s projected maintenance/repair costs. If you pay $300/mo for a 2 year Alfa Guilia lease, and at the end of the term the residual value is $28,000 but the vehicle is in reality only worth about $18,000, with obscene projected maintenance/repair costs, why would you possibly buy it out whether your used car loan is $50/mo or $500/mo??

If your intention is to keep a singular vehicle long term, leasing makes no financial sense. You are paying an acquisition fee and usually paying higher rent charges than you would if you financed a new or used vehicle.

Please help us understand exactly what your goal is and what you are after here.

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If I had to guess, he wants to pass down a car down to his kid in a few years, while paying as little as possible. Probably financing a car with with 0% interest would be best. Hate to push Kias again, but they offer $6-8K incentives to lease some models, which you could buyout almost immediately and beat financing any new or used car deals out there.

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And ‘paying as little as possible’ depends on sooooooooooo many factors once you get out of the safety net that a lease term provides you: full warranty, set residual value, and often free maintenance. A used Audi is a much different animal than a used Civic.

I laughed out loud at ‘leasehackr dealers’ :smile:

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Taking out a ridiculously long new auto loan is usually smarter choice then lease to own. You will take advantage of new auto % which is usually lower then used %. Youll skip the bank / aquisition / disposition / end of term buyout charges.

Rarely will it make sense to buyout a lease and usually if it does you did not have a great lease value.

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I do understand how leases and buying a car works. My goal is pretty simple and I guess I have to be exact on here when I said leasehack dealer I was referencing the negotiated broker deal through said financier. My goal was just to see if anyone attempted to do a vehicle buyout from a vehicle they found via leasehackr, talked to financier(s) to seek a new loan for said buyout amount to keep monthly payments relatively the same, but financier could not come close to the same amount. I’m not looking for hypotheticals.

thanks for the advice!

What kind of negotiating are you hoping to do? See if they can change the sales price? See if they offer a loan period that matches the payments? You say negotiate the same payments, but what are you really trying to achieve?