Just got a new car some questions

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  • Bigbill365
    SBR MVP
    • 06-22-12
    • 4572

    #1
    Just got a new car some questions
    Leased a new Jeep with after their lease is up the option to buy my understanding is if the car at the end has a market value higher then what you can buy for you should. Anyone have experience with this?
  • gauchojake
    BARRELED IN @ SBR!
    • 09-17-10
    • 34109

    #2
    Yes - you can also just arb the car value at CarMax or Carvana or whomever and just take the profit at the end if you don't want the car anymore. I have bough out leases and then kept the cars for a few years or just sold them and took the cash. You don't even need to front the money at CarMax, they just pay off the note and cut you a check right there. Definitely pays to negotiate a good lease up front.
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    • Bigbill365
      SBR MVP
      • 06-22-12
      • 4572

      #3
      Originally posted by gauchojake
      Yes - you can also just arb the car value at CarMax or Carvana or whomever and just take the profit at the end if you don't want the car anymore. I have bough out leases and then kept the cars for a few years or just sold them and took the cash. You don't even need to front the money at CarMax, they just pay off the note and cut you a check right there. Definitely pays to negotiate a good lease up front.
      Ok good to know i was stressed seeing all these numbers even though I’m not really paying so I guess just hope this car holds value for 2 years it is a 2024
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      • OldBill
        SBR Hall of Famer
        • 11-02-21
        • 6416

        #4
        no car holds true value bigbill experienced car sales man here never ever bought a new car beacuase i knew i lose 33% soon as car exits the lot only vars that hold good value are #1 corvettes #2 bmw's #3 merecedes benz then all other ultra expensive imports ferrarri , lotus, rolls royce , porsche, etc..
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        • WinDove
          SBR High Roller
          • 07-21-19
          • 215

          #5
          I want a car that will last forever, or very nearly so, sometimes I still see beetles around, 70s 80s stuff, easy to fix.
          Comment
          • Optional
            Administrator
            • 06-10-10
            • 61298

            #6
            Originally posted by gauchojake
            Yes - you can also just arb the car value at CarMax or Carvana or whomever and just take the profit at the end if you don't want the car anymore. I have bough out leases and then kept the cars for a few years or just sold them and took the cash. You don't even need to front the money at CarMax, they just pay off the note and cut you a check right there. Definitely pays to negotiate a good lease up front.
            That sounds really interesting! I wonder if that can be done down here too. Can you give me an example set of numbers and a for dummies run down on the type of cars it works with and the type of lease etc?
            .
            Comment
            • OldBill
              SBR Hall of Famer
              • 11-02-21
              • 6416

              #7
              here a way to make sure you get an almost life long car with minimal trouble get vin number take to the dealer that makes that car ask for exact born on date which used to be shown inside drivers door panel

              then go back using day i was born website and serach for day of week if made on mon or fri forgettabouttit i had one a ford windstr mini van out of gate pos had troubles rear door one side cable broken check engine light was on so the guy i deal with for years gets me inspected illegally and brother that pos every other month huge reapirs $65 $85 $125 $750 athen finally overheting too much Head gasket went ............junked it for $150

              my recent car was made on wed in 2010 in oct 27th 1 owner only like 50 K miles on it um first major problem alternator went

              cost me $185 plus $150 to mechanic one bad problem because never getting the front suspension done winds up costing total $1450 and thats not bad have owned this car for 8 years now
              Comment
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