Not my first time leasing a car - but up until now, my buyouts have been advantageous to me (I've kept one and sold one, and in both cases made out financially as a result).
This is the first time I'm having one inspected, and I've got a few dents and dings on there over time. The one thing I've read over and over again is to get it fixed yourself rather than pay the leasing company's appraisal of the damages.
I had an idiot run past a traffic cop directing traffic and graze my front bumper. Went to a body shop yesterday, where they figured that they could get it done for about $500, but won't be able to get to it until Monday. Naturally, my inspection is for Friday, and my new car is ready to be picked up.
My options - reschedule the inspection, which is a pain since they always want to go a week or two out (my lease is up on 7/6). Have the inspection, and then if the appraisal is much higher, do the repairs myself before I turn it in (assuming that I'll need to have it reinspected, which will incur the same delay). Or just bite the bullet and have it fixed.
My question - how far off are these inspector appraisals? I'm assuming they work from a book value, and that they're probably inflated. But are they inflated 20-30% or 100%? If fixing it will cost me $500, but the appraisal comes in at $750, I might just bite the bullet (since dealing with a body shop in NYC is slightly more aggravating than bargaining in a Lebanese street market, where they'd probably speak better English to boot).
Anyone ever had one of these inspections and end up fixing the damage on their own afterward?
Side note: Dodge has been rumored to be on the block for a long time, and I can see why. The residual on this SUV is $30k (had an MSRP of $58k), and it's sure as hell not worth that. Nice car, great job as a tow vehicle, but nowhere near worth $30k used considering the damn thing seems to be unraveling already.
I'm facing the same issue with my GMC acadia, which with their redesign I am probably not going to be able to stay in brand
If you’re personable, hang out while it’s being inspected. I got a VERY favorable report.
Secondly, found out they offer an allowance. $X of damage is expected and automatically waived. So if you have $50 of work, and the report is agrees and is close, it could get waived.
Third, if you do have to get it fixed and the report is close enough, pay the fee rather than deal with the body shop. Less headaches, and last thing you need is leasing company doesn’t feel the work was done properly
Lastly, as stated above, you leasefrom them again and they will work with you.
So, I have no idea how fair the damages assessed were, but you can negotiate and would be prepared to do so if you feel it’s unfair.
You are definitely going to have a deposition? fee if you do not buy out the car.
Check you lease contract.
I think each leasing company has a program that, taking the inputs of the appraiser, spits out a number for labor/parts, much as a body shop would do. Seems to me that, as you opine, you can hardly go wrong, having the appraiser come, and if you don't like the numbers, have it done at your body shop and then re-inspect.
I think extending the lease for a month is pretty routine, even if you have your old and your new on hand for that period.
What are you buying, if you care to disclose?
The problem here is the body shop I did take it to (which seemed decent enough) said they had to remove and spray the entire bumper (there's no structural damage). It's definitely more than a credit card's length, probably need 3-4 cards cumulatively to cover it up.
The problem here is the body shop I did take it to (which seemed decent enough) said they had to remove and spray the entire bumper (there's no structural damage). It's definitely more than a credit card's length, probably need 3-4 cards cumulatively to cover it up.
see if the new dealer will take it in for you. Thats your best bet
And yes - it is a Durango. Long term, I would not want to own this car. Great when it was brand new - it's starting to show it's age now, and I'm barely 3 years in.
And I'm the kind of guy who takes great care of his cars mechanically, and who tends to own for the long term (over 10 years). This is a vehicle I write off as a business expense, so I don't mind the lease. If this weren't tax deductible, I'd hate leasing - having to return the car to them in like new condition when it's 3 years old and has lost half it's value is an absolutely ridiculous proposition IMO.
Had to order the car a month ago so I've already negotiated the car. The new one wasn't supposed to arrive for another 2 weeks (that was a whole other mess, they lead me to believe it would arrive after my current term expired). Apparently, I need to have this inspection regardless of where I turn it in, and I'm guessing they won't be doing my any favors when I bring it in since we've already agreed upon the price.
I did this with a Mazda my wife kicked the shit out of saved thousands all for an additional monthly payment.
I did this with a Mazda my wife kicked the shit out of saved thousands all for an additional monthly payment.
I ended up buying my Mazda for a similar reason, but mostly because the buyout was $19k and the book on the car was $24k. I could have just sold it and taken the difference, but I liked the car enough that I kept it.
I didn't even bother with the inspection in that case, but that was an example where the buyout was undervalued. Here, the market might dictate that they can get 30k for this car used, but IMO you'd have to be insane to pay it.
This is the boat I'm in - and I have until 7/6 to do the repairs, which should be plenty of time to have it repaired and then reinspected. The only complication is picking up the new car, which I'd like to transfer my registration and plates to. I'm guessing I can just tell the dealer to hang on to the car for another week.
I wrote them a letter refusing to pay it and never heard another word about it.
I'm hoping for dorgan's sake that wasn't a euphemism...
Same here - if it wasn't so damn easy to write off I wouldn't bother. Walking around on eggshells with my car (especially the one I use for fishing) isn't my cup of tea.
It's sitting at 35,900 miles like I'm waiting for balloons to fall from the ceiling.
Quote:
to return it - he has a very large wrench
I'm hoping for dorgan's sake that wasn't a euphemism...
I don't know whether to deny it, or moon walk.