From lease to own accessories

[Caldwell]

Hey fella's

My truck is currently a lease, and I'm thinking about buying it out before the lease is up. I love my truck, As I think she is gorgeous lol. The only thing that has me thinking otherwise is the lack of a few accessories that I want. I won't even haggle the price of whatever is owed left on the truck, in exchange for the accessories I want. Do you think these accessories would be feasible to get without to much struggle ???

3.92 gears
Tow Hitch
Tow Hooks
Bed Liner
5.0 Radio

Or should I just upgrade to a new lease with exactly what I want ? I know some people don't agree with leasing, however I get bored quickly with vehicles so it works for me ( I accept the financial aspect of it lol )

 

[0212353]

most of the time you can't negotiate the buyout price.

Are you 4wd now? (gear change = 2x more on 4wd)

 

[Caldwell]

Yea I would try to haggle the buy out, but to make the sale have the dealer add the extras I want lol.

Yes I'm 4x4. Personally I wouldn't by a truck without it lol

 

[GotExhaust.com]

How is the buyout # looking compared to book value? How close to the mileage were you? I know it doesn't directly answer your question but I find lease buyouts to be losing deals most of the time. Lease it, run it, give it back, get a new one. Once you break that cycle you kind of lose the benefit of leasing.

All I'm saying is I would put my haggling efforts toward beating them up on a new lease with everything you want.

 

[0212353]

well........you know that the dealer has no say in it right?

They got their nut when you bought the truck. After that, they have no skin in the game. Its your leasing company. I leased through Chrysler Financial then Ally. Both chuckled when I talked about negotiating the residual. On my first lease, I bought the truck on paper, and sold it to the dealer (trade in).

The dealer can facilitate you buying it, but it would have fees (stupid, buy it direct from Ally....etc). Or, they can take it back at the lease end, and you walk away......at that point, they don't own it, they just "have it" there - and they then either buy it from Ally, or it goes to the auction.

here's some assumptions of cost:
3.92 gears - 2K
Tow Hitch - 400?
Tow Hooks - 300?
Bed Liner - 200?
5.0 Radio - no clue.

So, you are looking at almost $3K in stuff there, without the radio......errr.....good luck?

 

[0212353]

How is the buyout # looking compared to book value? How close to the mileage were you? I know it doesn't directly answer your question but I find lease buyouts to be losing deals most of the time. Lease it, run it, give it back, get a new one. Once you break that cycle you kind of lose the benefit of leasing.

All I'm saying is I would put my haggling efforts toward beating them up on a new lease with everything you want.

When my buyout was up the residual was $19,800. I couldn't walk onto a lot and buy anything close to what I have for under 26-28 (at that time) - and they all had 2-3x the mileage on them.

 

[Cruizer]

I say if you're not going to loose your ass buying the truck, do it so you can lift it.

 

[GotExhaust.com]

When my buyout was up the residual was $19,800. I couldn't walk onto a lot and buy anything close to what I have for under 26-28 (at that time) - and they all had 2-3x the mileage on them.

When they're that far off on the residual sometimes it does make sense to buy it out. Or, use that as a bargaining tool to get into another lease with a higher residual and beat them up on the sale price. I guess it depends on what your intended use of the vehicle is.

 

[0212353]

its a toy, thats all it is. LOL

 

[mangus2k13ram]

I worked a salesperson for 3 years, you can only haggle the buyout price before signing the lease contract. Sorry buddy you are locked in.

 

[NYCruiser]

If the truck is worth much more than the pre-determined buy out price they will be happy to negotiate with you.

 

[baum]

What a lot of people dont know with leases.. is when the lease is over if there is positive equity in it (meaning the buyout is less than what its worth), you can trade it in and get the positive cash and use it as a down payment. now if the amount its worth is less than the buyout then give it back..

but like stated above you already set your buyout price when you started the lease.

 

[loveracing1988]

The first thing is check blue book. My truck is worth my buyout right now and I am 7 months into the lease. So I know there will be no buying this truck.
Whatever radio your truck has it will jave for life, there is no swapping radio's anymore. If you were going to upgrade I would go up to the 8.4 anyways. The 5" in my wifes jeep sucks.
I would try and play the game again, if your buyout is too high that is. Make your next truck your dream truck and lease it and hope you can buy that one out for a good price.

 

[bowieknife]

I'm also leasing my 2013 sport. I hve a 36 month lease with 12k miles per year. My buyout price at lease end is $26k. I have a strong feeling that it won't be worth that when I go to trade in 2 1/2 more years. As much as I love my truck and have had Zero issues with it, I won't buy anything that's underwater. I say just lease a new one when you're done...or just buy a used 2013 at that point, with everything you want on it. You'll likely be paying less than your buy out anyway....