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What is the best way to get rid of my X?

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Old 02-13-2003, 12:57 AM
  #11
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Is this an open ended or closed end lease. If it is closed end the leasing company is obligated to give you the residual less any end of lease fee at lease termination. If they offered you 16% less than residual to termainate early it is unlikely you will get more than the residual now. If it is an open lease you could have a problem. You can check values at www.kbb.com for trade and retail. If you have a carmax they will give you an offer that usually exceeds dealer trade. Only you, an insurance company or a licensed dealer are allowed to buy out a leased vehicle so be careful about a private sale. One other option is I have turned in closed end leased vehicles early to a dealer on trade that were upside down. The only charge were the remaining one or two payments. This avoids the wear and tear hassle with the leasing company.
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Old 02-13-2003, 01:04 AM
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All vehicle leases are closed end these days. I asked them what the buy out was at the end of the lease, and they said it was "X" amount, but due to the blah blah blah, we are willing to adjust your buy out to $blah.
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Old 02-13-2003, 01:17 AM
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Some corporate leases are still open. but anyway, they are willing to sell it to you for 16% less than residual? If you do not want the vehicle turn it in and walk away. The way to make money at the end of leases is if the residual is below market value not above. To be sure you can get a quote from carmax and it will most likely be even lower than the 16% figure. Remember you will have to pay tax on the buyout which would cut into any profit and the used market is terrible to try to sell to an individual buyer.
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Old 02-13-2003, 07:57 AM
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Quote:
Originally posted by PhantomChaos
Is it worth $28K?
No
I've been shopping around for one and can get a 2000 Limited with a V10 with 30K miles for $23K

Over 500 for sale on Autotrader.com under $25K

http://www.autotrader.com/findacar/r...used&x=69&y=14
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Old 02-13-2003, 09:16 AM
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Remove your drives and patch the transom........ Talk with your lease company and don't except the first offer. I bought out a lease and talked with three different people at the same company with three different prices. They will negotiate the final buy out with you. Wardey
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Old 02-13-2003, 11:05 AM
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If you give me the info on your X I can tell what it will sell for here in CA. I need the year, miles, options, model, engine.
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Old 02-14-2003, 08:40 PM
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Nort,
I also can give you prices on what they're selling for all over the country. I'm a wholesaler and have access to the results of all of Manheim Auto Auctions Sales. Manheim is the largest auction chain in the world and the results are as current as today. Need same info as "Quest" requested.
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Old 02-19-2003, 01:11 PM
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Quote:
Originally posted by Quest for Speed
If you give me the info on your X I can tell what it will sell for here in CA. I need the year, miles, options, model, engine.

2000 Ford Excursion Limited 4x4
Power Stroke 7.3L Diesel
30,000 miles

All Options (heated seats, heated mirrors, backup radar thingy, custom aluminum wheels, extending mirrors, Class-V 15,000lb hitch, TV and VCR, 2nd visor TV screen, air-leveling bags and air compressor, custom front end, custom stainless running boards, white-out paint, upgraded 2002 clear headlights)

Never lifted
Never chip'ed
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Last edited by PhantomChaos; 02-19-2003 at 01:36 PM.
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Old 02-19-2003, 01:34 PM
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Quote:
Originally posted by catmando
TOP That's what I thought he meant too.


..........................I was going to suggest a woodchipper

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Old 02-19-2003, 02:38 PM
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You can trade you ex in? Hell, I wish I would have done that instead.
 
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