I just leased a Hyundai Genesis Coupe January 2nd to build credit... and I wanted a new car. Well, I love it and want to refinance (they said I can at any time) and buy it. To date I have paid 2700 (roughly) would they take that off of the agreed to price for the lease and use it when I refinance to buy? My price to lease/own was only different by $10. So for example if to lease it came to $27000 and own $27500 would they take off 2600 (give or or take a few hundred) from the purchase price since I made those payments on the lease? Thanks in advance.
A salesman makes good money if they know how to sell talk and close deals!! But don't try ripping off anyone Source(s): The last salesman that tried ripping me off GOT AN *** WHOOPING SO BAD HE APPLIED AT MCDONALDS
wow that didn't help the OP at all, nice. I love useless posts like the ones I post all the time to useless threads, which this one doesn't seem to be one. Anyway, of course they will deduct the amount you have paid already, leasing just means you are paying a portion of what the car is worth, sort of like paying rent except you can buy it whenever you want. So if you want to buy the car, it should be the amount you have to pay for leasing for 4 years? + the residual value (buy back) - $2600 you paid so far. At least that's what I think, i've paid cash for both my cars so haven't leased before.
Thanks for your reply. I know they would use it towards buying but I wasn't sure if they only did a percentage. But what you said about the residual value makes total sense. Thank you.
I look at the manufacturers suggested retail price and i come up with a fair price i suggest you look up the value before car shopping
actually all you need is pay $20 (USD) or so dollars and find the "dealer invoice price", that is the price of how much the dealer got it for. So you know how much they are trying to rip you off.
Next time maybe consider going trough an auto broker , that may save you time and hassle , and almost 99% of the time it's overall cheaper ; The catch is that you cannot see the car until right before you sign the pappers , so you will have to know what you want
Invoice=cost is what a dealer wants you to think , the truth is very far from that , depending on the manufacturer . Ex: If you buy a mercedes S Class this month at invoice , then the dealer probably made about 12.000 proffit on you Just something to keep in mind