Buy a car at the end of your lease.

December 25th, 2009 Labelle Chevrolet 513 comments
Title:

Buy a car at the end of your lease.




110 f 4005987 ripovwpfwydjezu6ly9h8f35wjakoufv1 Buy a car at the end of your lease.

Buy a car at the end of your lease.

You’ve come to the end of your lease and you like you car enough you want
to keep it in the driveway. Just like buying a used car, there is some
research to be done to nail a good deal.

First, you need to know the cost of buying out your lease. Read the fine
print of your contract and look for the “ price”. This
price is set by the and usually comprises the residual
value of the car at the end of the lease plus a purchase-option fee
ranging from $300 to $500. When you signed on the dotted line, your
monthly payments were calculated as the difference between the vehicle’s
sticker price and its estimated value at the end of the lease, plus a
monthly financing fee. This estimated price of the at the end
of the lease is what is termed in leasing jargon “residual value”. It is
the expected – or loss in value – of the vehicle over the
scheduled-lease period. For example, a car with a sticker price of
$40,000 and a 50% residual percentage will have an estimated $20,000
value at lease end.

Now that you know the cost of buying out your lease, you need to determine
the actual value, also termed “market value”, of your vehicle. So, how
much does your car retail for in the market? To pin down a good, solid
estimate you need to do some pricing research. Check the price of the
vehicle, with similar mileage and condition, with different dealers. Use
online pricing websites, such as Cars.com, .com and Kelly Blue Book
for detailed pricing information. Gleaning pricing information from various
sources should give you a fair estimate of your vehicle’s retail value.

All you have to do now is compare the two amounts. If the residual value is
lower than the actual retail value, than you’re into a winner.
Unfortunately, there is a good chance a car coming off a lease is a little
on the high side.
Don’ despair though. know as much that
on their vehicles are greater than their market value and as such are
always on the look out for offers. You can knock down on the price of your
leased vehicle with some smooth negotiating tactics. Put forward a price
that is below your actual target and negotiate hard until you wind up near
that figure.

Originally posted 2008-10-03 03:00:04. Go Home page

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Categories: Auto

Chevy 454 Truck burnout

December 25th, 2009 Labelle Chevrolet 152 comments
Title:

Chevy 454 Truck burnout




Truck

Having a little fun with the 454! ))

Originally posted 2008-10-02 23:52:51. Go Home page

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Categories: Chevrolet

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