i got a weird ques, i have never dealt with buying out a car so im not really sure whats involved, my parents got the car 2.5 years ago and its up in october(2003 g35 coupe automatic w/ sport package), but i wanna buy it out this spring, do i merely take the amount they paid every month and deduct that from the sticker price? it has 3,000 miles on it and its mint, still has the new car smell....they never drive it and i want another car.

 

so they were leasing it. there's a buyout price on the lease documents. that's the amount you pay.

 

If i were you I would just buyout the car right now...Leasing is only good if you plan on returning the car after 3 years. Sometimes you really like the car still after 3 years and you want to keep it, as in your case, but you will be spending more money this way.

You might as well buy the car right now, if you finance it for 5 more years from now you probably will be looking around high $400 range (not sure of your numbers though)

 

Wow...2.5 years and only 3,000 miles, I'm a bit slow but does that come to 100 miles per month? haha thats insane and I'd assume you are correct that would be one mint conditioned "G"...Buyout price is def in the paperwork somewhere, just find that and your set...Gluck

 

No way, he has to mean 30k miles, right?

 

nope, 3,000 miles..it was delivered on halloween of 03 and hardly driven, i want to buy it out right now and not wait till next october, i just cant find the lease papers and was curious what i was lookin at cost wise...i cant let a car like this go to waste to someone else, b.c they would basically be gettin a brand new car for a used car price..plus ive always loved it....i actually had plans on gettin a new mustang gt but scrapped the idea when my father suggested i buy out the G

 

i agree with chaz... leasing company's (or dealers) make their money on the interest. your better off buying it out as soon as possible if u have the money. my dad has been leasing cars for many years... and my last lease was a vette that i bought out. my experience is that the buyout is usually close to what the car is worth wholesale used. afterall, the dealerships need to sell the car back to someone. then again i'm in canada, maybe leasing works differently in the states... but i would doubt it, once a crook always a crook.

ps. another option for u might be to extend the lease on the vehicle if u are short on cash, or if your unsure if u want to keep the car in the long run (the buyout would also be lower at the end, but u will be paying the interest).

best of luck.

 

well i plan on taking a loan out to buyout the car so the $$ issue really isnt an issue, my parents have been leasing cars from as far back as i could remember but have never loved a car that much to buy it out in the end...but i want this car and got my mind set on it.

 

The leasing company will want their full profit. On the lease agreement there is an amount stated per month of what the charges are. You can calculate it by seeing how mahy months are left and multiplying that figure. Since the car has so few miles on it, it would be a good one to buy. It will be worth more than the lease end value. Currently G35's are holding their value pretty well.

 

If you simply call the leasing company they will tell you the payoff amount....I pay my lease payments over the internet and evey month it tells me the payoff from that current point in time. I can't believe you got a 24 month lease, thats crazy, you must be loaded!

 

the lease isnt up until october of 05...i made a mistake, we got it in 02 but it was an 03, i think..lol...i dont remember. so it was a 36 month lease....we've had so many people come up to us and want to buy it when its done, including my future brother in law...i almost bought out my mothers lincoln ls b4 the g, but im glad i waited.