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Any car salesmen here?

859 views 4 replies 4 participants last post by  elcid 
#1 ·
or finance people in general?
Im leased a new truck last year and Im starting to wonder if I could try to get a loan and buy out of the lease to try to save some money. I figure I'll more than likely keep the truck after the lease is up anyway, but Im not sure if most leases allow this. I know I could talk to a bank or something, but they are closed now.
 
#3 ·
i assume what your saying is possible . If your leasing i'd say your best bet would be to talk to the dealership to see if you can buy the truck out of the lease. If so check with your bank to see what sort of loan you can get. The dealership may offer to finance the car out too though.

did you mean the dealership was closed ? if that is the case there would still be someone taking the payment on the lease . if you can't find out who then contact the car company. i dont know if the car companies handle lease programs or if they outsource to another company but either way the car company should know thier policy .
 
#4 ·
You need to take a look at your lease contract, in my car salesman days I saw a lot of people get screwed with leases so you need to be careful because some vehicles have a high residual value and it's not worth it buy them out. You need to do the math, namely, How much you have paid so far,
market value on the vehicle and residual value. These factors should help you make an informed decision.
 
#5 ·
Well, I've only had the thing for about 5 months so I think Im still in good shape with what I owe vs what it's worth. Otherwise I pay for it for 3 years, then I can buy it outright for $10K more. The main thing I want to do is drop the payment. I figure paying it over 5 years would be cheaper per month then paying over 3 years. I know in the long run it may end up costing more, but Im not too concerned about the long run right now.
 
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