dungdori

Hi all,

I started my 2 year lease last Aug. I want lease buy out, then having been dealership today.

They requested payoff money+ sales tax + registration fee. However, they additionally required $500 of "buy fee", which is kind of "buy charge" as they explained.

They didn't explain anything about this fee when I started lease as well as I can't find any description about it on the contract. Furthermore, I had showed my calculation in case of lease buy out this month before I signed the contract. Of course, they confirmed my caculation.

After I argued about this fee, they explained this fee consists of early termination fee and something.

But, I also checked Mazda Credit, then their representative said I don't have to pay early termination fee in case of lease buy out. What is the identification of this fee?

The situation that Mazda credit said original dealership is the only channel to do lease buy out makes things worse. Their price doesn't seem to be negotiable :-(
How can I argue and beat them?

czr

iTrader: (3)

I am currently leasing my 8 as well and thought about this situation when it will come up. I would not break my lease before it's over though. I ran some numbers and calculated it would be pretty close as if I financed it straight up after the lease expires..

So come August of next year... here's what you do: Usually, the reisidual price is not a price set in stone. You can negotiate it and screw the "buy fee" they are talking about. You probably even put a deposit down and will be getting back money if you just walk away(again, this is after the lease is over). I've heard the best thing to do is ignore the dealer altogether when they are asking/calling/writing if you are keeping the car. The dealer stands to lose a couple thousand $ in money, time , space, etc. if you just give it back to them and they have to sell it. They know this, but they don't expect you to. You should do some research to see what a 2 year 8 would cost in the used car market when you will finally finance your car. Go to kelly blue book, nada, classifieds, etc and round up the data for similar features as yours and mileage and try set the price based on that. Don't sound interested at all because Mazda Corp. and other car companies usually call before a lease expires so they don't have to worry about selling the car in the used car market. When the time comes they will be begging for you to keep it.

You will have more bargaining power after the lease expires, compared to now which you have none or very little, so your best bet is to wait it out.

dungdori

Thanks a lot. By the way,my problem is my money factor of lease is very high comparing to lease buy out with financing. So I tried to lease buy out as soon as possible. Almost $200 every month.

So in case, I cannot help buying out as they required, can I?
Hope to good news from you.