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buying out my lease - refinancing my ride... - Printable Version

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buying out my lease - refinancing my ride... - 60FeetUnderWater - 06-17-2003

Got any advice?

Gotta meet up with the dealership tonight to discuss "the numbers". I plan on not making ANY decision tonight...is this a good strategy?

Do I have the right to still request the original dealership invoice for the car I leased to establish the true price of my car? I plan on crunching the numbers at home afterwards to construct my "counter-proposal".

Does that sound like a good plan?

I know I want to buy this car - I leased it when it only had 10 miles on it. I love driving it and hell, I already poured so much money into it....makes sense to me to just buy it out.

I just never went in to the lions den by myself before.


buying out my lease - refinancing my ride... - Rooner - 06-17-2003

Cant help ya bro, Ive never paid more two grand for a car, never had a car newer than 5 years old.


buying out my lease - refinancing my ride... - Ronin - 06-17-2003

of course you can get that stuff.. you should be able to.. i leased my car and then bought it after word.. what a pain in the ass that was..

Quote:I already poured so much money into it....makes sense to me to just buy it out.

what did you do to it?


buying out my lease - refinancing my ride... - Luna - 06-17-2003

Quote:Originally posted by fhore twentee
Got any advice?

Gotta meet up with the dealership tonight to discuss \"the numbers\". I plan on not making ANY decision tonight...is this a good strategy?

Do I have the right to still request the original dealership invoice for the car I leased to establish the true price of my car? I plan on crunching the numbers at home afterwards to construct my \"counter-proposal\".

Does that sound like a good plan?

I know I want to buy this car - I leased it when it only had 10 miles on it. I love driving it and hell, I already poured so much money into it....makes sense to me to just buy it out.

I just never went in to the lions den by myself before.
Don't make any decision right away.
I've never bought a car at the end of any of my leases, but, I will tell you they are a bunch of hard-ons. Usually it's the leasing co. that you buy it from not the dealer.


buying out my lease - refinancing my ride... - 60FeetUnderWater - 06-17-2003

Ronin - it's not like I suped the car up or anything. It's just that I've made so many payments on it; If I were to lease a new car or buy a different car - all of that money that I've paid into this car becomes WASTE. Ya feel me?


Luna - Got ya. I know for SURE that I will not be making any decisions tonight. As a matter of fact, this meeting tonight resulted after a game of phone tag between me and the guy who originally sold/leased me the car. I told him I'd meet him BRIEFLY to discuss the numbers adn then I would make my decision sometime after that. I said nothing else.


First time, this guy took me for a nice ride...(long story as to how & why I allowed it to happen...)

But not this time. not again. :nod:


buying out my lease - refinancing my ride... - Ronin - 06-17-2003

yeah, i understand.. that's how i felt about my car.. that why i bought it.. 98 honda accord lx.


buying out my lease - refinancing my ride... - Sloats - 06-17-2003

Quote:Originally posted by fhore twentee
Ronin - it's not like I suped the car up or anything. It's just that I've made so many payments on it; If I were to lease a new car or buy a different car - all of that money that I've paid into this car becomes WASTE. Ya feel me?


Luna - Got ya. I know for SURE that I will not be making any decisions tonight. As a matter of fact, this meeting tonight resulted after a game of phone tag between me and the guy who originally sold/leased me the car. I told him I'd meet him BRIEFLY to discuss the numbers adn then I would make my decision sometime after that. I said nothing else.


First time, this guy took me for a nice ride...(long story as to how & why I allowed it to happen...)

But not this time. not again. :nod:

Leasing = Renting
Buying = Mortgage

Since you are not trying to attain an asset, merely just paying for use and depreciation, leasing is not nearly as much as buying. Usually about 75%. Now if we could only get k1d in here to talk about the joys of leasing....


buying out my lease - refinancing my ride... - 60FeetUnderWater - 06-17-2003

Sloats - you lost me a bit...I do agree with your "formula/equation"

This is why I'm trying to buy or "mortgage" this car now...

Originally - this salesman was trying to convince me that I can terminate this lease (6 months early) and get a new car (via leasing)

I told him I was not interested in leasing again. That I was only interested in either buying this car out or, if the numbers aren't good for me, I'd go out and just pick up a used car.

(and of course, I said this for negotiating/leverage sakes)

I also plan on saying things like "well, so & so dealership offered me a brand new blah blah blah for X amount of $s"...

They like to play games, these people.

I can play too, damn it.


buying out my lease - refinancing my ride... - Six-Pack - 06-17-2003

Do you hate yourself that much that you would deal with car salesmen twice on the same car? I still have aneurisms from when I bought my car in early '01


buying out my lease - refinancing my ride... - Sloats - 06-17-2003

What I am saying is that the money you poured into it, is not nearly as much as it should have been had you desired to buy the car. A $300 Lease would be a $400 Loan for the same period.