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How do you buy a vehicle at the end of the lease???

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How do you buy a vehicle at the end of the lease???

Old 05-16-2005, 12:36 PM
  #1  
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Default How do you buy a vehicle at the end of the lease???

I have a friend who has a SUV that is coming off lease next month. The payoff is a great deal and I want to get it for my wife. He has already purchased another car, so we can do this anytime. Who do I need to deal with? Do I need to give him the money and have him buy it out from Ford? Or, can I pay Ford when he turns it in? Help me out!!! I want to get it this weekend.
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Old 05-16-2005, 12:50 PM
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Default Re: How do you buy a vehicle at the end of the lease???

I would have him do the buy out, the buyout offers don't normally work unless you are the one actually leasing the vehicle. the dealer may work with him and allow you to deal directly with them, but your friend will have to put pen on paper at some point concerning the buyout for the good deal to be offered. Buying it outrite from him isn't very hard at all.
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Old 05-16-2005, 01:00 PM
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Default Re: How do you buy a vehicle at the end of the lease???

There MAY be more involved than just the payoff, there MAY be fees due to the leasing company that he will have to pay. Call the leasing company and make them an offer for about 2 to 3 K less than what his paperwork says is the payoff. If they have to take the vehicle back that’s about what it will cost them to get it ready and get it to auction. Once you have established contact with the company then you are in a position to deal directly with them. Your friend will be out of the loop at this point but will still have possession of the vehicle and must deliver it to wherever the leasing company tells him to (i.e. your house) Avoid dealing with the dealership, if the vehicle is in good condition they will pull it out from under you if they think they can get more out of it than the payoff…… You need to move on this is you really want it……………
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Old 05-23-2005, 07:39 AM
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Default Re: How do you buy a vehicle at the end of the lease???

They other thing to consider is taxes. If there is a sales tax or road use tax in your state and he buys it then sells it to you your going to have to pay it twice.
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