end of lease questions??

[Cummins Cowboy]

I am down to one more payment on my lease on my truck, I keep getting calls from some people saying they want to inspect my truck, claiming to work with chrysler financial. I am way over on miles, so I don't want them to know it, What I am really wanting is for them to call me and offer to sell me the truck for less than my buyout, either way I plan to buyout the lease and sell the truck privately, I don't want them to know I am over on miles, because they will be unwilling to make me a deal, So my question is what is the best way to get them to work something out, do I go ahead and schedule the inspection and hope they call with an offer, or do I call them and approach them with the offer???

 

[BTighe]

i would call them. make it sound like you dont have time to deal with BS inspections and you have a loan(or cash) ready to pay if off. hopefully theyll see a fast sale and jump on it.

 

[MMeier]

Should have called them a few months back and check to see what the payoff would have been then. Being this close to the end , you may just get stuck paying for the miles even if you do want to buy it out. Ummmm, how many are you over?

 

[HDaniel]

If you are buying the truck at the end of the lease then you will not have to pay the penalty. The only time that you should have to pay the penalty is if you turn the vehicle back in without trading. The dealer will try to make you pay it sometimes if you are trading in a leased vehicle, but you can just say no. It is that simple. If they will not budge, then roll the lease into a buy and then trade it in. There is always a way around it. This is my 3rd lease and of the 2 previous, the first I bought after the lease was up, and the second, I traded in just short of the end of the lease.

 

[Cummins Cowboy]

If you are buying the truck at the end of the lease then you will not have to pay the penalty. The only time that you should have to pay the penalty is if you turn the vehicle back in without trading. The dealer will try to make you pay it sometimes if you are trading in a leased vehicle, but you can just say no. It is that simple. If they will not budge, then roll the lease into a buy and then trade it in. There is always a way around it. This is my 3rd lease and of the 2 previous, the first I bought after the lease was up, and the second, I traded in just short of the end of the lease.

my buyout is 16k, from what others have said, even a dealer salesmen, told me that I should be able to get about 2k off of that, so buy the thing out for 14k, as the leaseing company does not have to pay to pick up the truck, take it to sale, and get it ready to sell. I am just wondering if I should call them with the offer or let them approach me and act like I am not real interested until they drop the price??

 

[gsbrockman]

I am way over on miles, so I don't want them to know it, What I am really wanting is for them to call me and offer to sell me the truck for less than my buyout, either way I plan to buyout the lease and sell the truck privately, I don't want them to know I am over on miles,

You don't own the truck... . whay are you attempting to "hold it hostage ?"

 

[Cummins Cowboy]

You don't own the truck... . whay are you attempting to "hold it hostage ?"

who is holding the truck hostage, I just want a good deal on buying the thing out!!! I still have another month until the end, the lease was actually a rip off IMO, I only came out somewhat decently because I own a business.

 

[TheBigSgt]

Just call them and work with them. Yes, you can call them and get them to come down sometimes.

 

[TowPro]

Just call them and work with them. Yes, you can call them and get them to come down sometimes.

You can also extend the leese a couple months, on a month by month bases. This way your not stuck with a "deadline"

 

[Tee]

Call em up and make them an offer on it. About 4k lower than your buy out on the paperwork. Then they will counter with something lower than the buy out but probably higher than your offer by a few 100. They would much rather have you buy the truck than have to deal with it being returned.



If its a lease outside DC they may even just roll the balance onto a new loan and you just keep on makin payments till its all yours.

 

[2Gen3Gen]

The way I see it is that it IS YOUR TRUCK as long as your making payments. They have no right to bother you to check mileage, cond, etc. , until the end of the lease. I would assume that they will deal on price since it is as old as it is.

 

[Cummins Cowboy]

I just called them, to see what they would do, I told them I was about at the limit for mileage, I asked them what they would sell it to me for, They told me the buyout is 16k then offered to finance me at 7. 9%, which aint that great of a rate, I said what would you sell it to me If I just bought it outright, again they said 16k, I said that is the best deal you can make?? They told me they dont' negoiate and then said, They could sell the truck and make money off it, so whey would they make me a deal, I said because of the costs of getting the truck ready and taking it to auction, you will not have. I bet the dealer would get them down, heck one of their sales people tole me they do it all the time, Maybe I should call them and pose as someone from the dealership LOL anyways at this point they aint budging. I told them then I would plan on just turning the truck in, Then I asked them details on where to do it, Maybe they will call me and make a deal, Either way I am gonna let em sweat or maybe I will be doing the sweating, in the next month we will see if they call

 

[2Gen3Gen]

So... . How far over are you on miles anyway? As for the inspection, I would tell them to pound sand until the end of the lease and say, go look at it on the day I deliver it to the dealer. At that time, they may be more willing to make a killer deal. As for them being able to make money on the truck, maybe yes, maybe no. Its a 2nd gen truck. there are a ton of them on the market with the high price of fuel. I really doubt that they will break even after they safety check, clean and market the truck. I would call them back in a week and say, I have a check for $14k and would like to deal. I would bet that they will take it.

 

[TowPro]

If you were to turn it in, they would charge you for the mileage over and any damages. That lowers there cost they have into the truck even more.



Then they just take it to the auction and sell it. I bet they don't prep anything.



I also have never had any luck getting them to come down in price on a leese buyout.

 

[Cummins Cowboy]

today I called them back, I told the lady I wanted to make an offer on the buyout, They where not even interested in hearing what it was. I was going to tell them I would send a cashiers check for 14k today. She said the buyouts are already set and that is what it is, I told them that is funny because one of your dealers told me otherwise. I said they are the ones who told me That they routinely get at least 2k off the buyout in a situation like mine. Others here have reported similar things. Oh well I guess I will be keeping the truck for the next month or so. I will report back if I hear them call back with any offers