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10-13-2007, 10:45 PM
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 Car Lease help!!!!?
I am almost over my miles, but I have two years left on the lease. Toyota solara 05. The buyout price is $15,000. Should i try the early buy out. How much will I lose. Im so confused. The price of the car when I got it, it was $24,000. I know I will lose money but how do you do the calculations, I pay $303 a month now. If I wait to the end of the lease I will be 35 miles over. Has anyone been through this? I need your advise....I know I made a bad decision now I need to fix it.
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10-14-2007, 03:41 AM
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It's not a bad decision at all, and you have many options.The question you must answer, do you want to own this vehicle after the lease is up?If you do, call the bank that the lease is with and offer $10,000 to purchase it. (I know $15,000 is the stated buy out) They will call you back with a counter offer, perhaps 13,000 or something. Accept it and they will send you papers in the mail to sign as they will finance it for you! (hopefully your lease payments were on time) And if you plan on purchasing it, you can stop worrying about miles.If not, turn it in at end of lease and pay the $1-5 per mile over and be done with it.
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