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

My lease is coming due on my Excursion. I ordered it and received it a month before Ford figured out the demand wasn't going to be what they thought. The leasing company made me an offer about 16% lower than the residual value on the lease. I don't want to keep this truck as I want to get a new 2003 with the new 6.0 engine.

Does anyone have an opinon about buying a leased vehicle to sell and make a few bucks, or is it just a pain in the a$$?

I know people who buy their lease car all the time. Sometimes cause they have grown attached to it. Other times cause they can buy it for less than market and then turn around and sell it.

Be aware that it is only a good idea if your particular vehicle is of a desirable color and trim level AND it is in immaculate condition.

From the pictures I have seen of your boats, you should have no trouble convincing a buyer that you have maintained it well.

Anytime you gotta advertise, show, and try to market your own vehicle, it is a hassle. It can work out well, though at times.

If you can buy your truck for NADA trade-in value, then you can make a buck on it. If you must pay near retail, let her go.

keep in mind when you buy it out you have to pay tax on the full buy out

Depending on how high the supply is,you can negotiate the buy out. I have had success and been turned down. It doesn't hurt to try though.

Actually, you don't have to buy it to sell it. Just have the buyer write a check for the payoff and a check to you for the remainder, or a check for the selling price to the dealer and then the dealer writes you a check for the extra. I did this a few years back on a car I sold 10 weeks before the lease was up and walked away with a $2300 check. So it would have cost me $3300 to lease it for 10 more weeks if I kept it.

are the used ones worth anything,i tried to trade mine with 60,000 and said it was worth 18,000/ 2000 model loaded v-10 limited. the new ones have a big rebate on them like 5000. for sale anyone. bought a S500. phantom let us know.

me 2
;)

remember that the used car market like the boat market SUCKS right now. The best way to get rid of it will be to park it at the bottom of your hill with the keys in it :D:D

I would just get the new one as the risk would be to high on the resale.

Jon

Is it worth $28K?

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.

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.

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.

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

Remove your drives and patch the transom........:D :D :D 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

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.

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.

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

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

:D :D

You can trade you ex in? Hell, I wish I would have done that instead.

buy her some new boobs, she will leave on her own.......:D

what you need to be buying is the new duramax crew cab!!:D :D :D :D :D

Your truck has a wholesale book of $29,850 right now including the add for low miles. Unfortunately with the dealers offering $10,000 off on the new ones it's a tough sell. I am also having a hard time selling my diesel F250 for book right now and need to sell it before my new 6.0 Excursion gets here in two weeks. If you want to let me know how much you want for it I can have one of the dealers I deal with shop it up north where they get more money than Socal.

Message from Lease Holder:

Your residual value on the Excursion is $28,737.10. After looking at values on Kelly Blue Book, this is obviously not reflective of current market conditions. Your new buyout is ________


Perhaps the extras that I've added have $0 value now?

I bet it might be worth more at LOTO if I lowered it an added a pair of dice to the rear view mirror. :D :D

That Ex would look a lot better if it was pulling a real boat, then again you want the leasing Co to lower the buyout might be a good move.;)

DUDE you are NOT LISTENING!!!! I am sure that the fualker that stole you ladder would be happy to take the truck also. Park it at the bottom of the hill!!!! :D:D

Jon