I have be doing some research on buying out my lease?? - Mustang Evolution

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Old 06-16-2014, 09:29 PM   #1
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I have be doing some research on buying out my lease??

I have been doing some research on buying out my lease, I was told that the buy out price that's on my contract,that is the price the dealer has to sell the car to me and it can't be lower than the price listed on the contract. I am stuck right now idk what to do ???? any suggestion my lease ends next year March but I am in love with my car and I want to modify it.
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Old 06-16-2014, 10:11 PM   #2
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Wait for the lease to run out and buy a newer model, maybe a 2015???
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Old 06-16-2014, 10:21 PM   #3
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How can we tell you what to do if we don't know the price?

If you're paying more than you could have got the car new, cut your losses and start over without a lease.
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Old 06-16-2014, 11:00 PM   #4
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The buy out price is $17000 I'm gonna end up paying $29000 when everything adds up

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---------- Post added 06-17-2014 at 12:00 AM ---------- Previous post was 06-16-2014 at 11:59 PM ----------

I don't think I want to lease another mustang I want to make it my own (mods)

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Old 06-16-2014, 11:26 PM   #5
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I'm not sure if this is mentioned on your profile or not (using the mobile app and too lazy to click on yours lol) but what car do you have, options, packages etc.
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Old 06-16-2014, 11:34 PM   #6
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No for 17000 u could get a new 2014 when the 2015 come out

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Old 06-17-2014, 01:25 AM   #7
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Never ever lease a car. It's not yours and it's way more expensive in the long run.
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Old 06-17-2014, 03:47 AM   #8
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Too late now, but the "buyout" price on a lease is always negotiable. In your case, you signed the paperwork, so there's no changing it now.

Your option would be to negotiate the price when the lease expires, or 1 to 2 months before the lease is up. Many dealerships will sell you the car i to 2 months before the lease is up, as this is a "sale" in their records.

Only thing you could do now is to buy out the remainder of your lease, and add the purchase price (in your case, the 17K) and refinance that amount now, but that would not really be a wise financial thing to do, unless your absolutely head over heels in having to have this car.
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Old 06-17-2014, 10:09 AM   #9
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He has a 2014 V6

Go ahead and buy out the lease if you like the 2014 Mustang you have. $17,000 is not being overcharged.
Go talk to the dealer and see if there is any discount for early buyout. If not, and you want to keep your 2014 it is well wrth just paying the money and moving on. At least you know the car you have.You have already done a few good mods to it and it sure is a good looking Mustang. If you plan on keeping it for a long time and getting it your way, Just do it. Why have a Mustang if you can't enjoy it?
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Old 06-17-2014, 10:29 AM   #10
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Quote:
Originally Posted by ronnie948 View Post
Go ahead and buy out the lease if you like the 2014 Mustang you have. $17,000 is not being overcharged.
Go talk to the dealer and see if there is any discount for early buyout. If not, and you want to keep your 2014 it is well wrth just paying the money and moving on. At least you know the car you have.You have already done a few good mods to it and it sure is a good looking Mustang. If you plan on keeping it for a long time and getting it your way, Just do it. Why have a Mustang if you can't enjoy it?
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He would have to pay the 17K for the "end of lease" purchase price, plus any monthly lease payments he still owes.
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Old 06-17-2014, 10:30 AM   #11
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No, the price can't be more. If the car ain't worth 17K when lease is up the dealer will sell it for the best price they can get. If 15K is the best thats what they will sell it for. details on what the car is will help us give you fair market.
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Old 06-17-2014, 10:37 AM   #12
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No, the price can't be more. If the car ain't worth 17K when lease is up the dealer will sell it for the best price they can get. If 15K is the best thats what they will sell it for. details on what the car is will help us give you fair market.
True, which is why the purchase price set on a lease contract is always set higher than predicted market value then the car is worth.

Dealers are not in the business to loose money.
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Old 06-17-2014, 04:04 PM   #13
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I was hoping that the dealer will sell the car for lower than the $17000, maybe I will get lucky but if they stick to the $17000 I might as well get buy a 2015.
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Old 06-17-2014, 05:06 PM   #14
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Buying out a lease defeats the whole purpose of leasing in the first place, which is to be driving a new car every 2 or 3 years at a slightly lower cost than buying a new car and trading in your old one every 2 or 3 years.
But it can be done and usually you can buy out early.

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Old 06-21-2014, 09:25 PM   #15
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The lease price is set by Ford. No dealership can change that, period. If you buy out the lease early you will have to pay the remaining payments plus the buyout price listed on your lease contract. If you don't buy out your lease and the dealership doesn't buy the car from ford then ford picks the car up from the dealer and auctions it off. Your best bet would be to ride out your lease until the end and then if the car is worth less than the buyout just walk away and buy a new car. If it's worth more then buy it and mod it up.
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Old 07-02-2014, 09:18 PM   #16
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Jeisenbeown nailed it. Perfect explanation


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---------- Post added at 02:18 AM ---------- Previous post was at 02:17 AM ----------

Quote:
Originally Posted by jeisenbrown View Post
The lease price is set by Ford. No dealership can change that, period. If you buy out the lease early you will have to pay the remaining payments plus the buyout price listed on your lease contract. If you don't buy out your lease and the dealership doesn't buy the car from ford then ford picks the car up from the dealer and auctions it off. Your best bet would be to ride out your lease until the end and then if the car is worth less than the buyout just walk away and buy a new car. If it's worth more then buy it and mod it up.

Jeisenbrown sorry for the typo


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Old 07-02-2014, 09:25 PM   #17
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Quote:
Originally Posted by jeisenbrown View Post
The lease price is set by Ford. No dealership can change that, period. If you buy out the lease early you will have to pay the remaining payments plus the buyout price listed on your lease contract. If you don't buy out your lease and the dealership doesn't buy the car from ford then ford picks the car up from the dealer and auctions it off. Your best bet would be to ride out your lease until the end and then if the car is worth less than the buyout just walk away and buy a new car. If it's worth more then buy it and mod it up.
+1000

Ride out the lease and see where the chips fall at the end.
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Old 07-02-2014, 09:47 PM   #18
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If you are looking for any simple answers, there aren't any. I'm sorry.
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Old 07-05-2014, 12:20 AM   #19
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If you owe 17k then that's it. If the buyout at end of term is 17k, then Yea, you have to pay for your car...

And leasing isn't always bad. True, one never owns it- but there are never repairs. My parents only lease (A Plan), and they never change tires, or even windshield wipers. Oil changes and that's it. Plus, when leasing a car, at buyout time it can put you in a good position. For example, you lease your 2014 that ends in March. If the value sky rockets because the 15 sucks, then you can be in a great position. If the 15 is wicked, and the value of yours drops, you get away without a hitch.

Don't get me wrong, there are negatives to leasing- but there are a lot of positives, too.

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Old 07-11-2014, 07:30 AM   #20
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i believe there's a difference between buyout and payoff. buyout is the price set by them should you decide to purchase at lease end vs returning the vehicle and walking away. payoff is the amount owed at a particular time. this amount decreases every time you make a monthly payment. financially speaking, most people don't realize that leasing is very similar to purchasing. you can even trade-in your lease at any time. you just have to pay the difference between the payoff and the trade-in value.
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