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[OT] Buying out a lease?

Discussion in 'Off-Topic' started by finnor, Aug 7, 2007.

  1. finnor

    finnor Member

    Hi All,

    I hope this is the right area for this question. I did a 12 month lease on my 2006 FX35 RWD with all options except Entertainment and run craps. My residual is $37,835.10. I negotiated a great price when I leased it, but the residual seems high compared to book values as well as what I can buy a similar car for through other dealers.

    Anybody here work in the business, or has anybody been able to negotiate a lower buy out than the residual? Do you have to pay outright or arrange your own financing, or can I go back through IFS? When I called customer service, they basically told me the residual was set and ring my own financing, but I didn't push.

    I really love the car, and want to keep it so I can start modding, but don't want to pay more than it is worth.

    Thanks all,

    --Tor
     
    Last edited: Aug 7, 2007

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  2. Dr.2K

    Dr.2K iS Doctor on Duty iS VIP

    11,683
    9
    Santa Clarita, CA
    2005 FX45
    Garages:
    1
    Welcome to the scene finnor! I don't work in the business, but maybe Kenny (de_mayor) can chime in and help you out here. Try pming him and see what he has to say. I don't see why the dealer could not arrange financing for you if you wanted to buy the fx but it might be much cheaper for you to get your own financing and negotiate a deal from there fro the FX.

    Also, if the residual seems high you can always just go look for another used FX and negotiate a deal there. Good luck.