Buying a car at the end of lease......advice please

[9iron]

I need a little help with my negotiation strategy. My wife is currently leasing a 2014 Ford Edge (lame, i know) and we are due to turn it in at the end of November. She drives very little (~8k miles/year) so we are considering just buying it out since we've had it since new and it has all the options she likes.

We did not negotiate a buyout price at the beginning since i had no plans of keeping it.....we thought we'd just keep leasing her a new car every two or three years. We got the "A-plan" deal since my brother works for Ford. Our sales guy said buyout would be $22,460 at the end of lease when i emailed him last month.

My question is: Can i negotiate on this price if it is "A-plan"? We are trying to keep our car payment as low as possible. Let me know if you have any experience with this. Thanks.

[Mywifes335]

Originally Posted by 9iron

I need a little help with my negotiation strategy. My wife is currently leasing a 2014 Ford Edge (lame, i know) and we are due to turn it in at the end of November. She drives very little (~8k miles/year) so we are considering just buying it out since we've had it since new and it has all the options she likes.

We did not negotiate a buyout price at the beginning since i had no plans of keeping it.....we thought we'd just keep leasing her a new car every two or three years. We got the "A-plan" deal since my brother works for Ford. Our sales guy said buyout would be $22,460 at the end of lease when i emailed him last month.

My question is: Can i negotiate on this price if it is "A-plan"? We are trying to keep our car payment as low as possible. Let me know if you have any experience with this. Thanks.

The price is set at the beginning...it's the residual value. That's your buyback option. Cross-check if that $22,460 is it....on your lease contract.

If it's lower, then you win.

Otherwise, try to call Ford Finance before the lease end and try to negotiate. Usually dealers don't bother with buyouts. They'd rather buy a cream puff like yours for under residual and sell it for big gross....and get you into a NEW EDGE.

Yes, lame...the Edge.

[9iron]

Originally Posted by Mywifes335

The price is set at the beginning...it's the residual value. That's your buyback option. Cross-check if that $22,460 is it.

If it's lower, then you win.

Otherwise, try to call Ford Finance before the lease end and try to negotiate. Usually dealers don't bother with buyouts. They'd rather buy a cream puff like yours for under residual and sell it for big gross....and get you into a NEW EDGE.

Yes, lame...the Edge.

LOL. I know.

Im trying to hammer down student debt and and she is staying home with our two young kids. I will have her in a fun car in a few years, but a vehicle is way down the list of priorities at the moment. I think the Edge is an ugly ass, boring ride.....ive always hated it and now have one in the driveway

Thanks for the response though. I appreciate it.

[Alfisti]

Nothing lame about an edge at all, fine family vehicle if over priced.

Cross-shop the price vs what is out there with similar options, and see if it works for you, but yeah the devil you know is tempting.

[KingOfJericho]

As Mywifes335 said, the buyout was in black and white at the start of your lease so no mystery there. In rare cases you can negotiate but it likely won't be worth the effort unless the mkt value and the residual are miles apart, which I doubt would be the case here.

We picked up our Grand Cherokee with a similar deal (CDI pricing) but that is factored into the original purchase price only. You are trying to double-dip that discount but that's not how it works.

If it makes you feel any better, I can think of WAY worse cars to be "stuck" with. I don't think the Edge is bad at all!