Want to buy out my lease! What’s next? Process....

[Primetime Hellcat 17]

Lease is up in early August so I’m interested in buying out my lease early. I’m thinking now might a good time to get a good deal with everything that is going on.
So what’s next?
Do I deal with my dealer ship or do I call Chrysler capital?
I want to keep the car with all the dam money I put into it. So is there a way to negotiate a great deal with either one?
Car looks great still and only has 8k miles on it. It’s a 2017.
The dealer finance manager already reached out to me about this process and I told him I lost my job and if I don’t get a amazing deal that I would put it back to stock and return it to him. He says he wants me to try and keep it if possible.
Anyone else in here buy out their lease?

 

[Tannehill]

Lease is up in early August so I’m interested in buying out my lease early. I’m thinking now might a good time to get a good deal with everything that is going on.
So what’s next?
Do I deal with my dealer ship or do I call Chrysler capital?
I want to keep the car with all the dam money I put into it. So is there a way to negotiate a great deal with either one?
Car looks great still and only has 8k miles on it. It’s a 2017.
The dealer finance manager already reached out to me about this process and I told him I lost my job and if I don’t get a amazing deal that I would put it back to stock and return it to him. He says he wants me to try and keep it if possible.
Anyone else in here buy out their lease?

Of course he wants you to keep it, he wants to flip it to you from Chrysler Capital and make money.

You are at the mercy of your dealer, or any other you take it to. CC does not negotiate the buyout. Your buyout from them is what it is, period. Only way to get it lower is to work with the dealer, have them buy it at the end, and then sell it to you. Easier said than done. My guess, the numbers between dealer and CC won't be too far off of one another.

 

[tkracing1]

Lease is up in early August so I’m interested in buying out my lease early. I’m thinking now might a good time to get a good deal with everything that is going on.
So what’s next?
Do I deal with my dealer ship or do I call Chrysler capital?
I want to keep the car with all the dam money I put into it. So is there a way to negotiate a great deal with either one?
Car looks great still and only has 8k miles on it. It’s a 2017.
The dealer finance manager already reached out to me about this process and I told him I lost my job and if I don’t get a amazing deal that I would put it back to stock and return it to him. He says he wants me to try and keep it if possible.
Anyone else in here buy out their lease?

I was thinking of it a while back but then changed my mind. If you get them to negotiate I may reconsider. Let me know how it goes.

 

[Blkout]

I bought mine out about 3 weeks ago, I went through a Cadillac dealer where my friend is a GM. I wanted to ensure I didn't get screwed by a dealer. The dealership paid off the lease and then I refinanced through my local credit union, essentially buying the car from the dealer.

 

[Primetime Hellcat 17]

Ok so far so good. I’m gonna go to my local dealer first and see if they wanna do business. Now I gotta find the person.

 

[Primetime Hellcat 17]

At first the finance manager wanted to get me into a new lease & I said no way with no job.
So I said I want to keep my car if not I will be dropping it off in August. They are aware of all the mods. He knows if I bring it back to him stock and it being tuned and previous heavily modified it will be hard to sell.
No way I’m giving it back lol. I think everyone in here has an idea of how much money is in this car.

 

[Tannehill]

At first the finance manager wanted to get me into a new lease & I said no way with no job.
So I said I want to keep my car if not I will be dropping it off in August. They are aware of all the mods. He knows if I bring it back to him stock and it being tuned and previous heavily modified it will be hard to sell.
No way I’m giving it back lol. I think everyone in here has an idea of how much money is in this car.

He doesn't care about selling it unless it is to you. If you don't buy it out through him, then he's not having anything to do with the car and letting Chrysler take it. An overwhelming majority of dealers DO NOT buy the cars people hand in at their dealerships at lease end, they can already get them at auction for cheaper, hence why he was pushing more for a new lease than selling you the current car until he heard about your situation.

You still have 4 months on your lease. These cars are not appreciating so I think it will be tough to get a deal NOW that is lower than your buyout in August. You via the dealer, or CC, have to add 4mths of payments to whatever the car's value is now.

 

[Blkout]

My Chrysler Capital payoff was 43k, black book value on my car was 45.5k. I felt like I came out good for a lease.

I had already planned to buy the car anyway after the first 6 months which is when I decide to start the mods.

 

[SilverBillet]

You have a signed contract. The buyout will not be negotiated now. I talked to Chrysler Capital about my lease to see if I could save money by paying it off a year early. You cannot buy it out early.

 

[Primetime Hellcat 17]

You have a signed contract. The buyout will not be negotiated now. I talked to Chrysler Capital about my lease to see if I could save money by paying it off a year early. You cannot buy it out early.

I’m only 3 months out from the end of the lease. So I can buy it out early if I wanted to. They would just tack on what I owe and roll it over to the purchase price. Dealer would pay remaining balance off and add it to purchase price.

 

[Tannehill]

You have a signed contract. The buyout will not be negotiated now. I talked to Chrysler Capital about my lease to see if I could save money by paying it off a year early. You cannot buy it out early.

Sure you can, you can buy your car out anytime. The remainder of your contract will be added to the purchase price. The buyout is non-negotiable with CC at any time. You can buy it out anytime via a dealer if you are happy with the price.

 

[GBLWRMR]

If you're a gambling man... Turn in the car once the lease is over. Google search your VIN number and you'll be able to locate the car once it's relisted for sale or if it hits an online auction. I've done this once before and would have been able to save $8-10K on my previous car. I lost my job and never made the purchase, but I found the car and could have bought it back. I have a $43K buy out on my 18' (still have 18 months left) so I'll probable just buy it from CC. I don't think I'd really be able to find something in better condition or less miles at that price..

 

[Tannehill]

If you're a gambling man... Turn in the car once the lease is over. Google search your VIN number and you'll be able to locate the car once it's relisted for sale or if it hits an online auction. I've done this once before and would have been able to save $8-10K on my previous car. I lost my job and never made the purchase, but I found the car and could have bought it back. I have a $43K buy out on my 18' (still have 18 months left) so I'll probable just buy it from CC. I don't think I'd really be able to find something in better condition or less miles at that price..

Just did this on my 2016 I handed in in January 2020. No intention of buying it, just curious. The car was handed in at dealer in Northern MD, went to an auction in Tennesse, Koons in VA bought it and sold it used. Car sold within a week or two; my buyout was $44,600 and I saw their listing on their site starting at $44,500.

 

[Magnified]

My Chrysler Capital payoff was 43k, black book value on my car was 45.5k. I felt like I came out good for a lease.

I had already planned to buy the car anyway after the first 6 months which is when I decide to start the mods.

So you are saying you bought the car for 45.5K?

 

[Magnified]

CC will not negotiate a price (that is why the residual is agreed upon up front and included in the contract). They have already leveraged the lease 8 ways to sunday and don't care if you want to negotiate - they've built everything into their model and are not going to hassle with negotiating. I won't touch on the dealers - they aren't into it either - the bulk will toss the cars to auction rather than mess with something difficult.

The problem with me (and mine is up in a two weeks or so) is that in Texas you pay full state sales tax on the lease at inception (but don't get credit for it - it is credited to the SELLER). At the end of the lease, if you buy the car, you get credit for it then and it is a no-tax sale. If I don't buy from CC, that tax money is wasted. So the "let it go back and try and chase the car down by VIN" deal is not something I"m interested in (not going to pay tax on it twice), let alone the idea of having the car go through god knows what with auctions and "dealer inspections" and bullshit like that. Either buy it at the residual price, or give it up.

 

[Blkout]

So you are saying you bought the car for 45.5K?

No, just the 43k plus some dealer fees.

 

[Primetime Hellcat 17]

Some other goodies going on today too!

 

[1971demon]

At first the finance manager wanted to get me into a new lease & I said no way with no job.
So I said I want to keep my car if not I will be dropping it off in August. They are aware of all the mods. He knows if I bring it back to him stock and it being tuned and previous heavily modified it will be hard to sell.
No way I’m giving it back lol. I think everyone in here has an idea of how much money is in this car.

They are far more concerned with getting you into another car...take the lease agreement to your credit union...and buy it and finance through the credit union...the more people ypu get involved...the more hands that will be out

 

[1971demon]

CC will not negotiate a price (that is why the residual is agreed upon up front and included in the contract). They have already leveraged the lease 8 ways to sunday and don't care if you want to negotiate - they've built everything into their model and are not going to hassle with negotiating. I won't touch on the dealers - they aren't into it either - the bulk will toss the cars to auction rather than mess with something difficult.

The problem with me (and mine is up in a two weeks or so) is that in Texas you pay full state sales tax on the lease at inception (but don't get credit for it - it is credited to the SELLER). At the end of the lease, if you buy the car, you get credit for it then and it is a no-tax sale. If I don't buy from CC, that tax money is wasted. So the "let it go back and try and chase the car down by VIN" deal is not something I"m interested in (not going to pay tax on it twice), let alone the idea of having the car go through god knows what with auctions and "dealer inspections" and bullshit like that. Either buy it at the residual price, or give it up.

Wow...even NY doesn't screw you on a lease like that...strange tax law indeed

 

[Magnified]

It's a suck up to the car companies. It's complete bullshit.