You can buy out a lease at any time if you want. There is a residual price -

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Dec 9, 2014
3:21:09pm

Non-donor troll

You can buy out a lease at any time if you want. There is a residual price -

price you can buy it for at the end of the lease that is predetermined. Often times, if you take care of the car then the residual is a bit less than the market price so you could in theory turn and sell it for a minor profit. If its market value has dropped then you just turn it back in and you got an even better deal by paying for less depreciation than it actually incurred.

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Non-donor troll

Previous username: That_guy
Bio page: Non-donor troll
Joined: Jan 20, 2010
Last login: Oct 30, 2023
Total posts: 10,425 (1,806 FO)

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Messages

Author

Time

Leasing an Accord LX

12/9/14 2:08pm

Mileage allowed, paying a ton for minor damage when returned ... other than that

Ebolarama

12/9/14 2:11pm

residual purchase price is most important.

JOPE

12/9/14 2:14pm

I prefer not to pay any cap costs upfront.

garyfan

12/9/14 2:17pm

The risk is just liability

donnerstag

12/9/14 2:19pm

unless you buy it at the end of the lease, then none of those things matter

JOPE

12/9/14 2:37pm

After the mileage cap, it is just 15 cents per mile. So even if you went over

12/9/14 2:57pm

They have a zero down deal right now

Remigius

12/9/14 2:21pm

Maybe his credit isn't stellar?

Non-donor troll

12/9/14 2:23pm

Don't forget you have to pay sales tax on your monthly lease in many states.

tisdaplace

12/9/14 2:23pm

Yes.

Mister P

12/9/14 2:25pm

Sales tax, documentation fee, registration

Oregano

12/9/14 2:38pm

What makes leasing such a great way to go? I've never really understood the

BYUCoug11

12/9/14 3:08pm

Thats the main benefit, a new car always, never have to worry about fixing

Ebolarama

12/9/14 3:10pm

But mileage limitations, you can't sell it, liability...

BYUCoug11

12/9/14 3:12pm

Mileage limitation can be whatever you want, so it doesn't have to be a

garyfan

12/9/14 3:20pm

Does that just require you to purchase the car first?

BYUCoug11

12/9/14 3:34pm

In effect. You sell the car and then pay the dealer what you owe

garyfan

12/9/14 3:38pm

Your residual can be treated like a pay off.

Oregano

12/9/14 4:19pm

Appreciate it. We may be in the market for a car soon and I've been hearing of

BYUCoug11

12/9/14 11:28pm

You can buy out a lease at any time if you want. There is a residual price -

Non-donor troll

12/9/14 3:21pm

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