myriadshalaks

iTrader: (1)

can't do that. he already agreed to the buyout price. there's no renegotiating a signed contract.

Symbioticgenius

He only has to pay 2300 if he buys the car out from the lease?
Why not just return the car, then later buy the car, maybe a week or so. Heck, maybe he can do it next day.

myriadshalaks

iTrader: (1)

that he has to put down 2300 so the bank will finance a 3 year old rx8 at 15k is what i understood.

DAC17

Uh, no... In most all cases, the lease is not with the dealer, it's with the finance company. The dealer can talk to the finance company about what makes economic sense. Why would you turn down a certain fair value sale, without any of the hassle of having to put the car back up for resale, just to sell it at the same price two or three months from now? This, of course, assumes that $15K is a good FMV.

Now the finance company/dealer may make a bad business decision to do just that, but I'd sure ask them first.

GearDriven

The position you are in is exactly why you lease.... You won. They figured the residual would be X, but it's actually x-2300... So you didn't pay for $2,300 of the car. The idea behind a smart lease is the transfer of risk to the financing company in a case where you don't want to keep a car long long term. At this point you could probably turn it in, and pick it up when it pops back up on the market for much less...unless you want to keep it because of all the mods you have done...

Keeping a car forever+mods are the reasons not to lease.

dos

You can negotiate with Mazda if you want to purchase the car. Mazda does not want you to give them the car back, they would love you to keep it. When my lease ended I was debating purchasing, and had Mazda talked down 2,500 off they purchase price, could have probably got it lower, but was getting a company car, and already had the VW.

myriadshalaks

iTrader: (1)

this is correct. my mistake.