Has anyone else here with a US Bank lease successfully negotiated a lower buy-out bid? They’ve already offered me thousands less than the residual price on my 2014 Volt but not low enough to get me to bite. I’ve made a counter offer but they’ve yet to review it. I’ll try again next week.
I turned in a 2013 base model Volt in March 2016. The residual value per the lease agreement was $25,500. US Bank stated they would accept $14,500 for the car which was market value at the time. I had not need for the car so I didn’t try to negotiate.
In my case(with 3 months left), they sent a maturity letter asking to call. On that initial call they dropped $4k from the residual and it’s gone down a few times since then.
What would be the harm in asking a few thousand below market value?
This all sounds amazing to me… too good to be true even.
Why in the world would US Bank drop their pants so low on this…
How can they be so off on their residual estimate?
They are only making a few thousand dollars on “Rent Charge”.
Am I missing something?
So we insist on leasing with US Bank on our next lease?
http://nlpc.org/2014/08/08/chevy-volt-resale-values-plunge-lease-returns-hit-market/
http://www.autonews.com/article/20160130/OEM05/302019987/cheap-gas-hits-hybrid-ev-residuals
My father had a Volt lease through US Bank. The residual was inflated because they applied a portion of the $7,500 federal tax credit towards the residual. They also offered us a lower buy-out price, but we weren’t interested in keeping the car.
Now we’re dealing with them on excess wear and tear charges, which we’re contesting. Blarg. I suppose that’s another way they can get an easy $1K.
Anyone return their US Bank lease at maturity? Any headaches, problems, excess charges, etc?
I’m due to return my Tesla in the next couple of days and the fair market value for the car is about 30k LESS than the buy out price. The customer service rep on the phone told me he can’t make any offer lower than the stated buy out. Is there a specific dept I need to call who CAN approve these things? Any help would be much appreciated!
Do you know what number you called to discuss this with US Bank? They won’t help me at all and have said “we do not negotiate past the stated buy out price” which I think is absurd because they are going to take my P90D Tesla and run it through auction and get maybe 50k if they are lucky but they want 90k from me to buy it! I’d love to buy it if I can get it for the fair market value but not sure who to talk to…any help would be much appreciated!
Sorry, this happened far too long ago for me to have retained the paperwork or phone #'s. I doubt they’d come down anywhere near as far as you’d like on a Tesla since they’re currently so fashionable. Good Luck!!
I’ve been informed they carry insurance against the residuals, so they really have no incentive to give you a deal on the buyout.