When a vehicle that has been on lease for four years, is due to go back to the dealership, what would normallyhappen to this vehicle.Would there be options to purchase it back !
lk104,
Jun 10, 9:57pm
Pick up the phone and ring your lease company
cjohnw,
Jun 10, 10:12pm
If it was a lease-to-own there would usually be one final residual payment.
If it was a simple four year lease (fixed term) it would just be returned to the original dealer to dispose of.
elect70,
Jun 11, 12:54am
Has a residual value that you can purchase it for outrightbut its usually lot more than what the car is worth if sold to dealer . If its used for businessthen leasing a new 1 is best( or as above renewing existing carfor another fixed term ) , as doesnt tie up capital .
xs1100,
Jun 11, 8:25am
i thought it was law that a vechile cannot be leased to the same company/person for longer than 4 yrs
jezz43,
Jun 11, 7:52pm
a mate of mine leased a rodeo a few years back, he 4 year lease came up last month and she went back in, they gave her option to keep it or upgrade with a new lease. she kept the old one and they refinanced the vehicles worth over another 4 years for her. so she will now own it eventually.
fordcrzy,
Jun 11, 8:51pm
don't do the buy back at end of lease they will rob you. just let it go and then keep an eye on "that other auction place" for it to come up for sale.a friend asked for the price to buy after te leaseexpired and they said $11,000.it sold at auction for $5500
neo_psy,
Jun 2, 2:55am
Think this depends on the lease company - some of them will offer it to the leasee for the wholesale value.
Mate of mine was offered his 3 year old SS to him for $23K - ended up selling to a work mate of his
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