Posted on: 27-10-08 15:13:08
Season Greeetings !
I am leasing 2005 corolla, and the lease ends on Jan 2009. I am still in need of a car, and seeking your opinion, whether to buy this car or return it ! I was thinking to buy it using my LC ..what do you think ? I appreciate, and thank you for any expert opinion.
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AK
What's the buyout price?
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
IMHO it is not a good idea to buy a car that you leased at the end of the lease. Almost always the residual value of the car at lease end will be higher than the actual value of the car if you were to buy a similar car in the market. ]
cheers
rsk
It is $8345 and is run around 90K. Similar car I have checked on the web, it cost above 10K ..so is the concern
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AK
It is typical for Japanese cars to have higher monthly lease payments and lower end of the lease buyout value. IMO, it is better to buy it out of lease since you already drive the car and know the history well.
OTH, most american cars used to have lower lease payments and high end of lease valuations - it is better not to buy those.
Hope that helps.
Hiren
Quote:
Originally posted by neerupam
It is $8345 and is run around 90K. Similar car I have checked on the web, it cost above 10K ..so is the concern
I think, $8345 is a good price - considering the fact that you personally know the driver & car.
And I hear that Car Price will come down next year ... ... ...
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Mumbai Maazi Ladki ...
Thank you all, for the reply ! Certainly it helps ... please update, if there is anything new ..it may help others as well to know ...
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AK
