2nd Gen Non-Engine/Transmission Lease buyout question

[Weidner]

I have a Chrysler Financial lease that I need to buy out, or buy the truck at the end of the lease due to the extra 100 thousand miles I put on it. My banker said many times a few months before the end of the lease, the companies will offer a better buy out than the agreed apon residule. Has anyone had that happen? Has anyone bought out their lease early? How about buying the truck at the end of the lease? What am I in for? My residule is $18k and I am ok with that, Its my mess so I have been expecting to have to pay that, but the chance of a lesser buyout has me excited.

 

[edgrim]

I run the Fleet Dept at our Dodge store so maybe I can help. However it is going to take some long posts going back and forth or just call me during the day toll-free, 8007482139 or 8003209767. Your call. I'll help you as much as I can.

 

[Weidner]

Thanks for the quick reply. Shoot me a pm or post a name to ask for when I call you tomarrow. It sounds like you might have good news for me?

 

[edgrim]

Your mail box is full, call 800 748 2139 ask for Erwin it'll take ten minutes of your time or less. Thanks

 

[WyattEarp]

I did it

decided to buy the truck jan of '04 and it really didn't affect my purchase at all. The only thing is make sure that the lease company and the dmv are on the same page, i ran for 7 months with up to date tags and a registration that said it was still good, the only thing is, the dmv had me down as not having any tags, or registration because once i bought the truck i needed to go and have a new registration done, well the lease company did not mention this, so i went 7months and had no clue, i had local, and state police behind me at any given time and even went through road checks, not one problem... so make sure you got it all together afterwards. .

 

[Cooker]

A friend just went though the same thing with his 2000. He ended up buying it for quite a bit less than the residual.

 

[fkovalski]

I have a Chrysler Financial lease that I need to buy out, or buy the truck at the end of the lease ..... How about buying the truck at the end of the lease?

Are not these the same?

Has anyone bought out their lease early? How about buying the truck at the end of the lease?

I asked my bank about this and they were going to charge the equivalent of 2 1/2 months worth of buy- out fees.







I am a little confused...

I have my lease due in March 2006. I write my checks now each month to US Bank. It is a new institution that I pay to as they bought out the debt from a previous bank. The terms of the signing remain in effect as I am paying the same amount. I was under the impression that at the end of the term I either turn the truck in or buy it for X amount. How is it that I can renegotiate the buy out amount? I do intent to do this as I will be over the mileage by about 12,000 miles. I always intended on purchasing it anyway but the prospect of a less buy- out amount is intriguing. Please shed some more light.

Thanks- frank.

 

[Lunkerman]

I bought my 2000 at the end of the lease but not from the dealer I leased it from. I called Chrysler financial first to deal with them but they wouldn't budge on the contracted residual price. They pointed me back to the dealer. The/A DEALER can buy it from Chrysler for a cheaper price. So I shopped around and bought the truck for about $2k less than the contracted resiual.

It was about $16k and change and I got a great rate also. A learning experience.



John