Help!!! the end of my lease is tomorrow. I have to buy the car with a residual value which is $4000 more than the market value price. If i return the car, i have to pay $4000 in overmileage pymt + the unknown amount of excess wear and tear. I'm in the lose and lose situation now. Anybody got any idea?
End of Lease, help!!
- Thread starter TurtleMan
- Start date
Roll back the miles 
jk
Tell them you don't want it, but make a low ball offer if they let you keep it, and you want to keep it???
jkTell them you don't want it, but make a low ball offer if they let you keep it, and you want to keep it???
Originally posted by: Marlin1975
Roll back the miles
Tell them you don't want it, but make a low ball offer if they let you keep it, and you want to keep it???
Won't work. He signed a lease contract. He is liable for the full bill at the end of the lease. There is absolutely no way out.
Well leases are good if you can stay within the contract terms (provided it's a good deal), but stuff like going over mileage can really hurt.
waggy
No Lifer
- Dec 14, 2000
- 68,143
- 10
- 81
Originally posted by: Marlin1975
Roll back the miles
Tell them you don't want it, but make a low ball offer if they let you keep it, and you want to keep it???
nope wont work. they have him by the balls. he either pays the 4k in over-milage (which is in the contract) or he buys the car. There is NO haggling now.
lease's are are only good if you know you will NOT go over the milage and dont mind renting a car. his situation shows why you shouldnt do them.
Sorry. There's no help. If you don't have $4000, and can't get $4000, you're going to need to finance the thing and keep it. Be sure you get some kind of gap insurance if you do that.
You'll wind up paying something for sure. However, the dealer may be willing to negotiate a bit (they probably won't budge much...but something is better than nothing) if you sign another lease (but do you really want to do that again!?!). Unfortunately, you're going to get screwed either way...
I agree. You're going to get screwed either way.
At least if you buy the car, it will be yours.
You can keep it for the next 15 years and get your money back out of it. Unless it's a Ford, then you've probably only got ~8.
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