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NFT: Car lease extensions- Anyone having any luck

GMAN4LIFE : 6/4/2021 3:34 pm
holy crap

so after talking in here and being convinced to extend my lease, i called the leasing company. They now want me to pay 50 bucks extra each month and only offer 12 month extensions. Thats just ridiculous.

anyone else in the same situation?
The used car market is insane  
Jim in Forest Hills : 6/4/2021 3:37 pm : link
can you sell it for higher than the residual? If so do it and lease a new car.
with the premium on used cars  
UConn4523 : 6/4/2021 3:37 pm : link
I definitely understand it. They likely want to force you to trade it in so you pay the return fee + the value they get on the used car, or you trade it back for another lease.

During quarantine my lease came up in May 2020 and I went month to month for about 7 or 8 months through Toyota. They let me keep my same payment but that was the height of the pandemic.
The move has been to buy out the lease and resell it on the secondary  
glowrider : 6/4/2021 4:12 pm : link
Market. Why let the dealers make the money when, for once, the consumer has the power of supply on their side.

Don’t give them another penny except for a buy out.
As stated on other threads  
Bubba : 6/5/2021 7:14 am : link
contact places like Carvana for a buyout offer. It is often higher than the lease purchase option. Sell the car and lease a new one.
RE: The move has been to buy out the lease and resell it on the secondary  
Mark from Jersey : 6/5/2021 7:29 am : link
In comment 15280110 glowrider said:
Quote:
Market. Why let the dealers make the money when, for once, the consumer has the power of supply on their side.

Don’t give them another penny except for a buy out.
This
I bought my 2018 grand cherkoee  
Joey from GlenCove : 6/5/2021 7:55 am : link
off the lease. nothing else made sense to me

I got something from Toyota  
Matt M. : 6/5/2021 12:26 pm : link
because they are looking for pre-owned. But, when I called, with only 1 year into the lease, he said the deal wouldn't really net me anything. I pretty much break even selling them my Rav4 and ending up with the same 2020 Rav4 they are trying to get rid of.
Just got this e-mail  
Stan in LA : 6/8/2021 5:18 pm : link
Quote:
Hello STANLEY,

We wanted to touch base with you and make sure all your automotive needs are satisfied and to let you know we have a need for your vehicle for our Pre-owned Inventory. There is high demand for your 320, and based on recent data BMW Financial Services provided it’s dealerships, it looks like you may be in an equity position.

What that means is you can use your vehicle to trade into a newer BMW and keep your payments about the same as you pay now, with little or no money out of pocket.
Newer BMW’s will come with the latest safety equipment, have no-cost maintenance included with them, full warranty, and of course are the latest and greatest BMW has to offer.

If you would like to consider this option with zero obligation, simply reply to this email and we will be happy to provide you answers to any questions you have.

Respectfully,

Mark


I guess they're just trying to move leftover 2021 cars, but I'm curious what they are going to offer.
Honda dealer low balled me  
UConn4523 : 6/8/2021 5:31 pm : link
told him what I can get from Carmax and he never returned my email from there, haha.

They are trying to get people to give their cars away and reap the reward, play hardball back.
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