The End is Here!

F

Freri-swami

Member
The lease is up on my 2008 CX-9 GT (pretty much fully loaded ex-blind spot monitoring ... has NAVI & sunroof, not rear ent.). Anyway, for lack of a better option at this point I'm strongly considering buying it off lease. We love the car, the residual seems fair, and right now I just can't afford the next car that my wife & I really want.

My main question is: Should they negotiate on the off-lease purchase amount? ($21.6K) ... in my initial discussions with the business manager at Tulley Mazda in Nashua, NH he claimed that in all their years of experience they've NEVER seen a purchase off lease for anything other than the originally quoted buyout.

I guess any other advice is appreciated. Is this a silly financial move or acceptable? With used CX-9's listed for $25-$29k I feel like I can't lose purchasing the vehicle now.

Other info:
- leaseholder is CABEAST which I believe is no longer in operation other than running off their old leases?
- miles are 42.5K ... 2.5K below the 15k per year I paid for
- vehicle is in otherwise great shape ... I purchased WearCare (looks like no benefit from that if I buy it)
- I bought the car in CT, but moved to NH so I'm doing this transaction at a local dealer, not the guy I leased the car from originally
- probably needs a transmission flush now and will probably need $1K worth of work when it gets to 55K-60K miles
- I'll probably sell or trade-in the vehicle in the next 12 months anyway
 
Freri-swami said:
... Anyway, for lack of a better option at this point I'm strongly considering buying it off lease. We love the car, the residual seems fair, and right now I just can't afford the next car that my wife & I really want.

My main question is: Should they negotiate on the off-lease purchase amount? ($21.6K) ... in my initial discussions with the business manager at Tulley Mazda in Nashua, NH he claimed that in all their years of experience they've NEVER seen a purchase off lease for anything other than the originally quoted buyout.

...With used CX-9's listed for $25-$29k I feel like I can't lose purchasing the vehicle now.
Click to expand...

(iagree)...You wont get this calibre car for 21.6 K...So do it, unless you just want to go in a different direction.
 
We think we need something bigger. Traveling with a dog and one child (maybe two someday) is a bit cramped in the CX-9 (at least the way my wife packs it is!). The best option we've considered is the Nissan Armada but ~$50k for a fully loaded armada vs. $22k for the CX-9 just doesn't make sense. Hence our inclination to just buy the Mazda for now. We love the Mazda ... just ready for something new/bigger whenever the time is right.

Anyone else experience the end of lease buy-out and have any success negotiating the price?

On top of the $21.6K they're saying I need to pay:
- $96 to get the car inspected (double the cost of state inspection so I'm not sure what they're inspecting it for since I'm buying the darn car...)
- $199 documentation fee ... everybody's got to make a buck these days. I called another NH dealer and their doc fee was $300.
 
I will be joining you this Monday, when I turn my 9 in at lease end.

Personally, I would never buy a lease end vehicle, as it's a poor financial decision. It would have been cheaper to buy it at the beginning if you planned on keeping it.

FWIW, I have leased 8 vehicles, including my CX-9, all turned in at lease end. My lease buyout is $21,936. I will turn it in with 31K miles on the odometer, and it's in outstanding condition.
 
Freri-swami said:
We think we need something bigger. Traveling with a dog and one child (maybe two someday) is a bit cramped in the CX-9 (at least the way my wife packs it is!).
Click to expand...

I hope that is a joke. One kid and a dog and the CX9 is not big enough? It is a 7 passenger vehicle, almost as big as a minivan. Do you have a Great Dane? If I were you I'd get a roof top cargo box if your wife needs to bring more stuff rather than pissing away more money and gas.
 
True that. I've been in third world countries and seen them pack more into something the size of a yugo. We travel quite well with 4 adults, 2 kids, and a roof rack to haul crap.
 
Thule rack has been considered and is a logical next step! Lab, not Marmaduke ... but like I said, my wife brings everything but the kitchen sink. Oh yeah, I do bring my ice hockey gear with me usually too and that takes up a fair chunk of room.

Long term, I know it's clearly cheaper to buy if I plan on keeping it until it's fully paid off. However, as a short-term measure given current market price vs. buy-out why wouldn't I purchase the car?

Still no feedback on whether these prices are negotiable with Mazda???
 
Force 1 ... separate question ... you mentioned you had looked at the 2011 Jeep Grand Cherokee I think ... I saw you went with the Q7. What did you think about the Cherokee?
 
Freri-swami said:
Force 1 ... separate question ... you mentioned you had looked at the 2011 Jeep Grand Cherokee I think ... I saw you went with the Q7. What did you think about the Cherokee?
Click to expand...

I really liked it a lot. It was on my short list. Main reason I didn't get it is I wanted a loaded Overland Hemi, and some of the options I wanted are unavailable until later in the model year.
 
Freri-swami said:
Still no feedback on whether these prices are negotiable with Mazda???
Click to expand...

Just wondering if you would negotiate with Mazda, since you said you leased through Cab East? Just call and ask if you can negotiate. In my experience, most leasing companies will not negotiate, especially in your case, where apparently the value of the vehicle is higher than the residual? Why would they negotiate if they can possibly make money on your turned-in vehicle?

FWIW, my CX-9 was leased through Mazda Credit.
 
Force-1 said:
Just wondering if you would negotiate with Mazda, since you said you leased through Cab East? Just call and ask if you can negotiate. In my experience, most leasing companies will not negotiate, especially in your case, where apparently the value of the vehicle is higher than the residual? Why would they negotiate if they can possibly make money on your turned-in vehicle?

FWIW, my CX-9 was leased through Mazda Credit.
Click to expand...
that's true.
 
I leased the car through Mazda American Credit but the financial arm behind Mazda Credit at the time was Cab East LLC (at least that's my understanding). At some point since I leased, Mazda Credit changed their financing arm to something like Chase or Citi? When I talk to the Mazda Credit folks they clearly state that they can't negotiate with me, it has to be done through a dealer so I tend to believe the dealership when they tell me that they are literally purchasing the car from Mazda/CabEast and then reselling it to me.

Regarding the residual, I agree that they should have little incentive to negotiate with me on this particular car. I figure they've got roughly two options. 1. they pay Cab East $21.6k for it, drop $1000 to Cert. Preown it and then put it on their lot listed for $27k. OR 2. they take it to auction and hope they get at least $21.6k for it. So if the auction price is lower than that, then maybe it's in their best interest to cut me a deal?

I'm OK with the price so I'll go ahead and buy the thing and keep looking for an alternative. The wife liked the Grand Cherokee but thought it too small ...
 
IslandTractor said:
I hope that is a joke. One kid and a dog and the CX9 is not big enough? It is a 7 passenger vehicle, almost as big as a minivan. Do you have a Great Dane? If I were you I'd get a roof top cargo box if your wife needs to bring more stuff rather than pissing away more money and gas.
Click to expand...

yeah i don't get that one either... had a st. bernard and rottie in the back without much trouble, still had the main rear seats upright. you need a wife that packs lighter, not those high maintenance types! ;)

Al
 
I wouldn't do it for that price, but maybe that's just me (seems a bit high).

I just purchased a used 2010 CX-9 with your options (plus BSM) for 27k. The car only had 20k miles on it. 2 years newer and 22k less miles, but a higher price.

Glad to hear you liked it enough to buy after lease.
 
I actually bought my 2010 touring with the bose/sunroof option for 27k, they have a big incentives now for the 2010's that you are not getting when you are looking for a used cx-9 ... just a thought
 
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