lease end

Has anyone ever offered a lower purchase price at the end of your lease? How do you go about that? The business manager where we leased our suv, is no longer available and as a matter of fact the Ford dealership is no longer there. Please help!!!

Reply to
star_fish
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I've asked this question here also, the consensus was no, you can't do it.

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Reply to
Jim Tiberio

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star_fish via CarKB.com

Anything to make the sale. Was it in CT? Ours was recently shut down also.

Reply to
Jim Tiberio

If the dealership has closed down, who will you talk to when the lease is up, whether you want to turn in the vehicle or purchase it? And whoever you deal with, you can always indicate that you would be interested in buying it AT THE RIGHT PRICE. All they can say is yes or no and you have nothing to lose and maybe something to gain. This kind of negotiation definitely takes place when leases are up.

Ken

star_fish via CarKB.com wrote:

Reply to
Kenneth J. Harris

Be careful! When I bought my 2002 Mountaineer at the end of the lease they actually tried to charge me a lot MORE than the lease contract residual amount. I had bought out a lease on another car before, a Misutbishi and I expected the process to be similar. For the Mitsubishi, I called Mitsubishi Motor Credit to confirm the amount (which was the same as the residual in the lease), sent them a check for the agreed upon amount in the lease, plus tax, and they sent me the pink slip. Simple, clean, that's all there was too it. When I went to buy the Ford out, it was a whole other deal and basically a scam. Ford Motor Credit requires that you go to the dealer to do the buy out (I don't know what happens when the selling dealer is no longer there, but my guess is they will send you to another dealer). I asked several times why I couldn't just send them a check and they insisted I had to go to the dealer. When I did this, it became obvious that the reason for this requirement is so the dealer can try to lease you a new car (they have no desire to sell you the old car), or barring that, to make some money off the deal.

So when I got to the dealer, the "credit" manager had me filling out what seemed like an awlful lot of paper work. After a while I started asking questions, especially when he asked for a check that was more than the residual amount in the lease, even accounting for sales tax. It seems that the transaction was arranged as me turning the car in after the lease, the dealer buying from Ford Motor Credit and then reselling it to me! All totally unnecessary. All this work increased the DMV fees considerably and the paper work that needed to be filled out. Then on top of that, the dealer added a $1000 premium to the lease contract residual amount! If you read the lease, that's the amount I'm guaranteed to be able to buy it at, at the end of the lease. When I told the dealer to stuff it, they protested that they were doing all of this work (paper work, DMV filing service etc.), and shouldn't have to do it for free. Now mind you, the general manager of this dealer is a friend of mine (that's why I got the car there in the first place). He came into the office with the so-called credit manager (the credit managers are salesmen in disguise and are responsible for most of a dealer's profit margin). They knocked the premium for all of their "work" down to a few hundred bucks, plus the extra DMV fees. At this point I was so disgusted with the process and because I didn't want to tell my "friend" to f*ck off to his face, I paid the lowered ransom amount.

Of course it didn't stop there. The credit manager then tried to sell me a third party warranty. I took the information and told him I would let him know. Of course when I read the policy carefully and also researched on the web on how these guys opperate, I declined. I also declined the Lojack and a few other do-dads they tried to sell me.

I thouhgt about contacting one of those class action lawyers about this obvious fradulent practice of Ford Motor Credit forcing you to the dealer so they can charge you more than the agreed amount. Maybe I still should, although it happend a couple of years ago. I'm sure it's still going on. So word to the wise: watch your wallet when you're buying out a Ford Motor Credit lease. Let them and the dealer know in advance in writing, that you will not be paying a penny more than the residual amount in the lease.

"Kenneth J. Harris" wrote in news:%m7Sh.2$ snipped-for-privacy@newsfe12.lga:

Reply to
akheel

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star_fish via CarKB.com

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star_fish via CarKB.com

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