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Old Jun 1, 2008 | 11:01 AM
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SRT SIX
Senior Member
Joined: May 2006
Posts: 3,027
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From: Folsom, CA
Default Re: Lease/purchase option

Considering the current market. the buyout is probably more than you could buy one for. Though if the car is special to you it is always worth more than the wholesale prices being thrown around.

First choice would be to see if you can negotiate the buyout down. Though it seems like that has not be successful, maybe you can be number 1.

Sometimes they just have to take the car back without negotiating the buyout. If so, you may be able to cut a deal with the dealership to then sell you the car outright. There is a fair chance they may let you buy it for less. You can reason that if they take it back, they will have to prep the car and put money into it and probably sell it for less anyway. If they plan to auction it off wholesale, they probably won't get much more the $12-$13K (yeah I know it hurts). You could negotiate from there and again save them time and money of having to go through all of that.

Last choice is to just turn it in and do a little shopping for a nice used one. As another choice, you could probably find a new '06, '07 or even '08 for around $22-$24K.
 
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