Should I buy my car off lease and sell it?
#1
Should I buy my car off lease and sell it?
My 2003 G35 6MT Coupe is currently leased by me since new. I had a 24 month, 24k mile lease, which is up on June 19th. I've decided I don't want the car any longer due to too many transmission and clutch problems, rattles, and other annoying problems. Plus, the car just doesn't meet my needs any longer, as I'm buying a house that needs some work that I'll be doing, so I'm buying a used SUV to haul house stuff and my boat with. The transmission and clutch were replaced last month, and after 2 attempts, the dealer still can't fix the clutch chatter/shuddering. Since my lease is almost up, I just don't want to deal with it anymore, so I haven't brought it back for them to fix it right.
Anyway, my car will have about 21k miles at the end of the lease, well under the 24k I paid for. My buyout price is $24,000, and with the nasty 8.5% Long Island sales tax, it will cost me $26,000 to buy the car.
Looking up the book value of my car, the private party value is about $29,000. So I'm thinking of listing my car for sale on ebay and here, and if I can get $29k for it, I can make a $3k profit that I wouldn't make if I just turned the car in to the dealer at the end of the lease.
The issue is my car still has quite a bit of clutch chatter and some rattles, but is otherwise in excellent condition. It is still under warranty, but I don't know if anyone wants to buy a car that has clutch chatter that will need more trips to the dealer to fix under warranty? I mean if someone test drives this car, they're not going to be happy with the clutch chatter (I know I'm not).
So my question is, should I even bother trying to make a profit by buying and reselling my car off lease? How much of a discount would people be looking for with the clutch chatter/tranny issue? How much would you pay for a car like this?
Anyway, my car will have about 21k miles at the end of the lease, well under the 24k I paid for. My buyout price is $24,000, and with the nasty 8.5% Long Island sales tax, it will cost me $26,000 to buy the car.
Looking up the book value of my car, the private party value is about $29,000. So I'm thinking of listing my car for sale on ebay and here, and if I can get $29k for it, I can make a $3k profit that I wouldn't make if I just turned the car in to the dealer at the end of the lease.
The issue is my car still has quite a bit of clutch chatter and some rattles, but is otherwise in excellent condition. It is still under warranty, but I don't know if anyone wants to buy a car that has clutch chatter that will need more trips to the dealer to fix under warranty? I mean if someone test drives this car, they're not going to be happy with the clutch chatter (I know I'm not).
So my question is, should I even bother trying to make a profit by buying and reselling my car off lease? How much of a discount would people be looking for with the clutch chatter/tranny issue? How much would you pay for a car like this?
#3
#5
Originally Posted by coolnesh
read more into your own post...
if the car has problems... why do u want to buy it and try to re-sell it. just let it go and get yourself another one.
you will be sticking someone else with a car that you know has problems... let the dealer do that...
if the car has problems... why do u want to buy it and try to re-sell it. just let it go and get yourself another one.
you will be sticking someone else with a car that you know has problems... let the dealer do that...
![Confused](https://g35driver.com/forums/images/smilies/confused.gif)
#6
#7
Trending Topics
Thread
Thread Starter
Forum
Replies
Last Post