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Buying out lease

bogiedot's Avatar
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11-09-04, 04:12 PM   #1  
Buying out lease

I have three months left on a leased f250 for my contracting business, I called the bank and they told me to send them a written bid for the truck; and they would either accept or decline. Has anyone had any experience with this? Of course I don't want to throw money away so would I follow blu book values or some other method? Thanks.

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stickshift's Avatar
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Join Date: Oct 2004
Posts: 18,476

12-09-04, 07:56 AM   #2  
I hope this reply is in time to help. When you leased the car, was a buy-out price mentioned? The financing company does not want to own your truck, so you can often buy for less than you might think. You still have some time left, start low and increase the offer if they reject it.

stereoguy's Avatar

Join Date: Dec 2003
Posts: 388

12-11-04, 09:19 PM   #3  
This is simply a ploy by the financing company to try and get you to offer them too much for the truck. Ask to talk to someone's supervisor, it seems incredible to me that they won't just give you the [email protected] number instead of playing this ridiculous game.

If they don't like that, offer $100 and make them counter it. Negotiate from there.

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