Lease then Buyout - Contract Explanation

[BigBallin]

I got it but the dealer basically fought with me until and end saying that the buyout was residual + remaining payments. Honestly if it wasn’t for the deal they gave me and the low stock of 19s I wouldn’t have gone with them, the car was in horrible condition when I showed up, they had to run my credit twice because when I initially sent it to them they lost it. I’m pretty sure they filled my tank with 87 oct. Overall horrible experience but I got the car and the deal so it was worth. Definitely won’t be going back though

Did you lease or buy?

 

[Lynix]

Did you lease or buy?

I’m doing the lease buyout

 

[BigBallin]

I’m doing the lease buyout

Nice. Waiting for mine to hit the website so I can buy it out

 

[Keigz]

So I am possibly looking at being OTD at $37,500 tomorrow when I go to this dealership lets see if this really happens!

 

[G-579865]

For those that are leasing and buying immediately, are you getting refinancing on the the buyout or just flat out cash? Thank you for all the great information.

 

[gbears]

For those that are leasing and buying immediately, are you getting refinancing on the the buyout or just flat out cash? Thank you for all the great information.

 

[G-699607]

For those that are leasing and buying immediately, are you getting refinancing on the the buyout or just flat out cash? Thank you for all the great information.

I think most are refinancing. That's what I'll be doing. Obviously there are people who have 40k sitting around but I can't imagine that's the norm.

 

[HDTurbo]

Well, until the very recent “coronamarket” I planned to split the bill for my recent acquisition between low rate finance through credit union and cash, so i could have more cash to invest. But investing in the stock market is a bit different now. My bank savings just gave me 1.75% interest which previously seemed like a laugh. Not now...You gotta base it it your own circumstances.

 

[G-247747]

I think most are refinancing. That's what I'll be doing. Obviously there are people who have 40k sitting around but I can't imagine that's the norm.

Thanks, I was just curious. I've never leased before. Can you get a standard auto refinance loan for this kind of buyout or do you have to get some type of personal loan? Thanks.

 

[gbears]

I think most are refinancing. That's what I'll be doing. Obviously there are people who have 40k sitting around but I can't imagine that's the norm.

Thanks, I was just curious, I've never leased before, usually just got the low APR financing. Can you get a regular auto refinancing loan on this buyout or would you have to look for more of a personal loan.

 

[2Slo4u]

Thanks, I was just curious, I've never leased before, usually just got the low APR financing. Can you get a regular auto refinancing loan on this buyout or would you have to look for more of a personal loan.

No special financing. Just tell your lending source you want to do a vehicle lease buyout. Happens all the time

 

[StevenEll]

So I just got access to the KMF website and the buyout quote is for $40,051.32.

If I just made all my payments - 625*23 = 14392. Residual is 26340. So that adds to $40,732.

Should the buyout be less that 700 less than just making the payments? I guess there is a buyout fee (which isn't specified on the KMF website but I think is 500), but either way that would make a buyout more expensive than just making the payments, as I'd pay more than 1000 in interest even at a 3% APR.

Let me know what I'm missing, the KMF website has so little information it's incredible.

 

[puzzling1]

So I just got access to the KMF website and the buyout quote is for $40,051.32.

If I just made all my payments - 625*23 = 14392. Residual is 26340. So that adds to $40,732.

Should the buyout be less that 700 less than just making the payments? I guess there is a buyout fee (which isn't specified on the KMF website but I think is 500), but either way that would make a buyout more expensive than just making the payments, as I'd pay more than 1000 in interest even at a 3% APR.

Let me know what I'm missing, the KMF website has so little information it's incredible.

Would you have to pay sales tax on the residual?

 

[BigBallin]

So I just got access to the KMF website and the buyout quote is for $40,051.32.

If I just made all my payments - 625*23 = 14392. Residual is 26340. So that adds to $40,732.

Should the buyout be less that 700 less than just making the payments? I guess there is a buyout fee (which isn't specified on the KMF website but I think is 500), but either way that would make a buyout more expensive than just making the payments, as I'd pay more than 1000 in interest even at a 3% APR.

Let me know what I'm missing, the KMF website has so little information it's incredible.

Something doesn’t seem right on that deal. Just got access to mine also. If I lease and then buy I’m spending 5k more.

 

[BigBallin]

The only question I have is do I register it before I do the buy out since tax title and license is in that price

 

[TStaino]

So I just got access to the KMF website and the buyout quote is for $40,051.32.

If I just made all my payments - 625*23 = 14392. Residual is 26340. So that adds to $40,732.

Should the buyout be less that 700 less than just making the payments? I guess there is a buyout fee (which isn't specified on the KMF website but I think is 500), but either way that would make a buyout more expensive than just making the payments, as I'd pay more than 1000 in interest even at a 3% APR.

Let me know what I'm missing, the KMF website has so little information it's incredible.

What was your Net Capital Cost on the lease contract? Also, what is sales tax in your state?

 

[TStaino]

Something doesn’t seem right on that deal. Just got access to mine also. If I lease and then buy I’m spending 5k more.

What was you net capital cost on your lease contracts? And what is sales tax in your state?

 

[Bmt134]

FYI for potential buyers, 2019 lease incentives for GT2 AWD dropped from $12,200 for January and Febraury to $12,100 for March. Looks like the incentives peaked for 2019 leftover models.

 

[BigBallin]

What was you net capital cost on your lease contracts? And what is sales tax in your state?

My residual is 29xxx. I only did the 10k mile lease. Sticker was 55k. I got them down to 40200 after lease rebate, 43xxx after tax and license. So my buy out is exactly what I “bought” the car for plus 300 for the buyout fee

 

[TStaino]

Just to be sure I understood you correctly, you are saying you Net Cap Cost (or adjusted cap cost) was 43xxx... and your buy out quote is 43xxx + 300?