[markdotnet]

I just got off the phone with a rep from Ally (whom I'm leasing with).

<rant>
The Ally rep could not have been less helpful. She had one thing on her mind... getting my cell phone number and getting my consent to telemarket me via "text messages, prerecorded voice mesages" and other annoyances. Of course I stated that I did NOT consent. We'll see if that's honored.
</rant>

Anyway, I am about six months out from being done with my lease. I asked the rep what my options are. She rattled off the standard "turn it in, buy it out" thing. What I really wanted to know is this... Is the buyout negotiable?

She kept saying that any GM dealer can handle that for me. I asked again stating that my $29,000 residual is nowhere near market value. I told her I'd like to buy the car but I'm not going to pay a premium of $6,000. She reiterated that I can go to any GM dealer to have them handle the transaction. At that point she pretty much rushed me off the phone.

So to all the dealer people out there... Can I negotiate the purchase price on the vehicle if I want to buy it? If so, is that a dealership thing or is that an Ally thing? Would I be better off to turn it in and then follow it through the auction system and buy it that way or just buy it off the dealer lot when it shows up as used? At this point it's sounding like I should just wash my hands of it an lease a shiny new one at the end of August.

 

[baragona]

Ally is right. They are a bank, not a dealer. They have a firm contract, based on the residual cost listed in the lease. They do not negotiate buyout options. Only your dealer can help you..

I asked a similar question earlier and got one suggestion I liked....

Since Ally owns the paper now, they will sell the vehicle at auction once it is turned in.

You may consider asking your dealer (where you will return the vehicle) if they can purchase the Volt from Ally at "auction price" then sell it back to you at market value, earning a profit for themselves and a good deal for you...

 

[MTN Ranger]

Consensus is that the lease companies don't negotiate on the buyout. My lease is up in November and I knew going in that I would turn it in. Obviously it is much cheaper to buy a new 2014 than it is to buy it out an old 2011/12. For example, near me dealers are offering new '14s for $33k ($25,500 after tax credit). I don't know why people would even bother to negotiate.

 

[baragona]

For example, near me dealers are offering new '14s for $33k ($25,500 after tax credit). I don't know why people would even bother to negotiate.

Current Kelly Blue Book for my Volt is $22K (if bought at a dealer). In 6 months that may be below $20K

At $20K, buying my leased Volt might be something worth considering. Anything above $22K isn't worth considering with New Volts being around $27K after tax breaks....

 

[Edju]

My lease will be up in June 2015. My 2012 has the California green HOV sticker, which will become highly coveted in few months when all 40,000 green stickers would have been issued. These stickers are good through the end of 2018 or longer if California governor extends the HOV access one more time.

Looks like I'll need to visit the dealer soon to see what legwork will be needed on my part to buy it back after I return it.

 

[galve2000]

what would you guys say is the "auction price" for a 2012 Volt with only 10,000 miles on it?

 

[0to60n8]

Consensus is that the lease companies don't negotiate on the buyout. My lease is up in November and I knew going in that I would turn it in. Obviously it is much cheaper to buy a new 2014 than it is to buy it out an old 2011/12. For example, near me dealers are offering new '14s for $33k ($25,500 after tax credit). I don't know why people would even bother to negotiate.

Seems to me to be good advise.

 

[0to60n8]

Current Kelly Blue Book for my Volt is $22K (if bought at a dealer). In 6 months that may be below $20K

At $20K, buying my leased Volt might be something worth considering. Anything above $22K isn't worth considering with New Volts being around $27K after tax breaks....

I would lean towards MTN RANGER's advise because you lose the mileage, get a little bigger battery and a new 5 year warranty too. I say I would, but you may have your own reasons which I can understand.

 

[USe-car]

I just got off the phone with a rep from Ally (whom I'm leasing with).

<rant>
The Ally rep could not have been less helpful. She had one thing on her mind... getting my cell phone number and getting my consent to telemarket me via "text messages, prerecorded voice mesages" and other annoyances. Of course I stated that I did NOT consent. We'll see if that's honored.
</rant>

Anyway, I am about six months out from being done with my lease. I asked the rep what my options are. She rattled off the standard "turn it in, buy it out" thing. What I really wanted to know is this... Is the buyout negotiable?

She kept saying that any GM dealer can handle that for me. I asked again stating that my $29,000 residual is nowhere near market value. I told her I'd like to buy the car but I'm not going to pay a premium of $6,000. She reiterated that I can go to any GM dealer to have them handle the transaction. At that point she pretty much rushed me off the phone.

So to all the dealer people out there... Can I negotiate the purchase price on the vehicle if I want to buy it? If so, is that a dealership thing or is that an Ally thing? Would I be better off to turn it in and then follow it through the auction system and buy it that way or just buy it off the dealer lot when it shows up as used? At this point it's sounding like I should just wash my hands of it an lease a shiny new one at the end of August.

A few years ago, we leased a Cadillac CTS through Ally (GMAC). When we turned it in, we were offered a buy out at $19,900, but we weren't interested that time. A few months later, I had to get the dealer to fill out a form and I saw the final papers on the Cadillac that we turned in. The Cadillac showed a dealer cost of $15,000. So, if we had taken Ally's offer at $19,900, the dealership would have made $4900 by selling the leased car to us. That price should be negotiable.

 

[lawjds]

If you bought the car for $19,900 the dealer would not have made that profit. Upon lease return, the dealer has the option to purchase the vehicle for less then the buyout payment. They do that in the case of the real good vehicles and then sell them. if you have a relationship with a dealer and are willing to give them a profit they are comfortable with that would be the way to purchase the vehicle at a lower price.

 

[doudis2]

The only half way good reason I read here to keep/buy a 2011/2012 lease-ender rather than buy new is the Cali HOV stickers. However since those ARE still available, if I were you I'd go buy a new Volt as soon as you see them getting close to running out of the stickers, then let Ally eat the loss!

I turned in a leased 2012 this past Saturday due to the crazy high residual. Ally did not even ask me if I wanted to buy it, let alone offer a compromise on the residual. Besides, I bought my new 2014 back in August.