• http://www.monsterauto.ca/ Tony Cars

    6. Don’t lease in the first place…it will end up costing more in the long run than just buying the vehicle.

  • http://www.kbb.com Rebekah K

    Hi Chris, love the article. We see many people, with leases that are ending, who struggle with what to do next. You did a great job of presenting all the options! :)

    For the record, my name is Rebekah and I work at Kelley Blue Book. I checked with our team that compiles the data for our values and they suggested your readers refer to the Suggested Retail Value when negotiating a lease buyout. The Suggested Retail Value is the value that is representative of dealers’ asking prices for a used car. We suggest this value as a starting point for negotiation between a consumer and a dealer.

    You can find this value once you have selected the year, make and model of the vehicle you are researching.

    Hope this helps!

    Rebekah K
    [email protected]

  • http://monthlycarlease.com Rob

    Nice article. Unknown to many, Car Leasing is not without plenty of options.

    I might add one thing to your #3 option of buying the car. You can always make them a better offer. If you got an exceptionally good deal on your car lease, chances are the listed residual value and pay-off is way higher than what you could buy a similar car for on the street. The finance company is going to be stuck selling that car one way or the other, so make them a lower offer.

    For example, I just completed a 2-year lease on a 2009 Subaru Legacy SE. At $19,000, the payoff was extremely high. I asked the finance company if they would make me a better offer. They offered to sell me the car at $15,700 including tax. That’s below market price for a 2 year old car like this! I opted to turn the deal down anyway, and went with the lease on a new RAV4 which still carries a lower payment than financing a $15,700 car. Leasing is a hard habit to break.

  • John Hertel

    If i lease my personal car and the auto hurts someone in a accident,will I be responsible too?

  • John Hertel

    If i lease my personal car and the auto hurts someone in a accident,will I be responsible too?

  • Rob Delisa

    Car Leasing is always a good option, but just like buying a car, you have to shop for the best deals. http://monthlycarlease.com

  • Gsovell

    Regarding Point 2. Why would one extend the lease at the same price they were paying. i.e. On day one when one enters a lease agreement the car was new. Jump forward three years the book value on the car is almost half. Sounds like the monthly lease payment should one should be greatly reduced maybe almost half as well..

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