southern stang

its time for me to return my 07 gt. im thinking of buying it since it only has 15,000 miles. i never leased a car before, anything i should know when i go to the dealer to buy it. would like to buy a new one but funds are low thanks

karman

Look at your contract and find out what your lease residual value is.
That will tell you what the negotiated value was.
You should be able to buy it for that.
http://www.edmunds.com/advice/leasin...0/article.html

Glenn

check around for finance rates before you go, dealers will usally match it or beat it.

topbliss

you are in a good position. The cars history you know, the miles are VERY low.. You should be able to buy that car for a very cheap price, way cheaper then you would be able to get it from a dealer who was selling it on a lot. We did it with one of our every day drivers recently with low miles. We were able to buy it for 11k when the value of it on the lot was $19k.

Glenn

how many miles was your lease for? You can also trade it in and get more than your residual value. It worked out that way with a lease I had. I went from the lease to buying a car, of course it was all through the same dealership.

karman

He told me that he is really interested in keeping the current car.
In that case, it works against him.
He is better off paying the residual (or hopefully less) if he buys the car.
You are correct, if he wants a new one.

dmhines

If the residual is less than the value of the car ... then it's a good deal. If the residual is higher ... then let the lease company eat it and walk away.

karman

That is true.
But...
If you are like me and fall in love with certain cars and can keep it for many, many more years because you don't drive a lot of miles, then you might want to buy it anyway.

Glenn

oooooooook

TDS

Totally off the subject, but your avitar photo is great.

TDS