Question:
I have never come across anyone who has done this but that is what my husband and I are doing. I was just wondering if anyone had heard of this. We love the car but just cannot afford the payments to buy, but the leasing payments were good. So after the lease is up they dealership said the mileage would not matter and we would pay for the rest of the car. By then my husband would have his job and we can buy it. Do you know of anyone that has done this?
Answers:
If you are looking at financing the car at the end of the lease term, then the mileage affects the value of the car, and affects what any lender will loan on the car.
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Likewise, if anything changes credit or income wise, that too can affect the ability to buy out the lease at the end.
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Generally, few people end up buying out the lease at lease-end term, but I have seen people do it (typically they paid cash for the lease-end value).
I have to give the car back to the dealer?
Note: there is a fee to purchase the car at the end of the lease, as well additional interest if you finance the vehicle, so most people end up leasing another vehicle, especially if there is lease loyalty cash.
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I know several people that have purchased their lease vehicles. This is an expensive way to buy a car. During the lease, you are paying for the depreciation in value of the car, plus wear and tear, at a much higher rate than you would if you purchased the car to begin with. Read the lease documents, because most leases have a mileage limit, over which you will be charged per mile. Good luck and read all the fine print.sold my car at an auction! want 2 buy it back but don`t know where 2 start?
There is nothing wrong with your thoughts many consumers lease a car love it and buy out at termination...the negative is just as many dont, I am guessing your term is anywhere from 36 months to 60 months, how you feel about the car after that amount of time becomes another question ? at this moment your hot to trot but will you be then ?...stay inside your miles allowed and have the option to return vehicle in your lease contractHow much can i get for my car?
From what you have written your putting your trust in a lease consultant, dont, get a copy off proposed lease take home STUDY what your signing...the deal will still be there tomorrow check my webpage http://www.usedcartips.org/beforeshop.ht...
You're gonna get burnt. It's better to buy a used vehicle A couple of years old that way you're not stuck paying for off the lot depreciation. Remember insist on a Carfax.
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Hello,You might see if you Financial institution has any flexible
purchase loans... Mine offers a "Flex loan" I was able to secure lower payments much like a lease it has terms of 5 years and 80,000 miles. At the end of my term... (I turn it in this June) I have the option to refinance the residual. I can turn it back in and walk away. Or I can take 30days to sell my truck keeping whatever profit is above the residual.
check this out http://tiny.pl/wnnl
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