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Discussion Starter #1
We have a 2015 that we're leasing. We got an exceptional deal on lease terms, and lease with eventual purchase came out to less than buying the car outright.

Our lease expires in December, but we just came into some cash and can pay off the car in its entirety right now. Is there an advantage or disadvantage to doing this? Is there any way to "haggle" when it comes to determining the payout for purchase? We're still under the mileage we contracted for, and the car has only a few rear gate paint scrapes and parking lot door dings. Any advice would be greatly appreciated.

Thanks
 

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We have a 2015 that we're leasing. We got an exceptional deal on lease terms, and lease with eventual purchase came out to less than buying the car outright.

Our lease expires in December, but we just came into some cash and can pay off the car in its entirety right now. Is there an advantage or disadvantage to doing this? Is there any way to "haggle" when it comes to determining the payout for purchase? We're still under the mileage we contracted for, and the car has only a few rear gate paint scrapes and parking lot door dings. Any advice would be greatly appreciated.

Thanks
Just ask yourself if the car will depreciate as much as the amount you will be giving away on the lease during that time. By paying off right now you also save the total amount of the interest for the life of a loan.
AND here is the big one, You can get broad form insurance that covers liability on all owned or non owned cars you might drive for pennies compared to full coverage. Just make sure if you get in a wreck it's the other car that's at fault.
 

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We have a 2015 that we're leasing. We got an exceptional deal on lease terms, and lease with eventual purchase came out to less than buying the car outright.

Our lease expires in December, but we just came into some cash and can pay off the car in its entirety right now. Is there an advantage or disadvantage to doing this? Is there any way to "haggle" when it comes to determining the payout for purchase? We're still under the mileage we contracted for, and the car has only a few rear gate paint scrapes and parking lot door dings. Any advice would be greatly appreciated.

Thanks
The answer is almost assuredly no. You owe the payments you signed up for, so you will have to pay them one way or another. At this point there is no benefit to paying them early.

If you lease another car and want to make all the payments up front (e.g. 36 of them), the calculation will work out to less than 36x the monthly lease payment, because the calculated interest (money factor) will work out more to your advantage.

As for the buyout on the car, the lease document has a predetermined buyout figure. If you car is in really good shape, and it's worth more than the buyout figure, then you should happily pay them the buyout figure. If your car is worth much less than the buyout figure you are unlikely to get a break from GM financial or any other large bank. If you still want the car, you can still purchase it for the buyout figure. Or you can hand over your keys knowing you essentially made some money on the deal.
 

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I've never heard of anyone EVER getting a break or better price on a GM Lease. Even the early Gen1's that were 10K+ in the hole upside down at termination due to poor foresight in how much PHEV's would depreciate.. They just end up auctioned for WAY less, and never offered or anything before.
 

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Discussion Starter #5 (Edited)
If you lease another car and want to make all the payments up front (e.g. 36 of them), the calculation will work out to less than 36x the monthly lease payment, because the calculated interest (money factor) will work out more to your advantage.
Maybe that's true now, with interest rates going up. It wasn't true when I bought the car.



I've never heard of anyone EVER getting a break or better price on a GM Lease.
No one ever has. Not even after I've told them that I spent seven hours haggling, went over the numbers with a fine-toothed comb, and determined that the lease was a much better deal than anything offered for outright purchase by any dealership in the area. It seems like the ears just close off when I explain that it worked for me.

I did find this: https://gm-volt.com/forum/showthread.php?324477-Should-you-buy-after-leasing-INFO-and-very-long&highlight=buying+lease which makes a pretty convincing argument for the existence of wiggle room at the end of a lease.
 

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Maybe that's true now, with interest rates going up. It wasn't true when I bought the car.
I've been leasing for some time and it's always been an option. The last time we actually pulled the trigger on that type of deal was with my father on a '14 Impala.
 
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