Forum Discussion

GordonThree's avatar
GordonThree
Explorer
Mar 28, 2015

Dealer wants to buy out my lease?

I received a letter from the owner of the local Chrysler dealer franchise. He wants to buy out the lease on my 2013 Ram 1500 and set me up with a 2015 1500 for the same payment, nothing down.

Problem is, it has to be from his existing inventory.

I really like the "Outdoorsman" package, and he doesn't have any in stock. Just a bunch of plain jane Tradesmans and flashy Big Horns, with the silly (JMHO) dually exhaust that sticks out the bumper and chrome 20" rims.

I found a bighorn that has a similar setup to mine, 5.7, 4x4, 3.92 rear end. It has the 8 speed KNOB instead of the 6 speed with the console shifter.

I'll call my sales dude Monday and see if his boss is willing swap with a nearby dealer who has a opalescent forest green outdoorsman

Any thoughts?
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  • Grandpere's avatar
    Grandpere
    Explorer
    Mar 29, 2015
    Dealers can do more magic with numbers than Mad Madam Mimm can do with her wand.
  • ScottG's avatar
    ScottG
    Nomad
    Mar 29, 2015
    If you want to get ahead financially, get away from payments as fast as you can.
    You wont believe how fast your resources start to add up.
  • westernrvparkow's avatar
    westernrvparkow
    Explorer
    Mar 29, 2015
    No reason this isn't a win / win for both parties. The dealer and manufacturer know they have more ability to get you into a new vehicle while you are still obligated for the one you currently have. If you actually want to lease a new vehicle from your current manufacturer and dealer, it might be a good option. There are probably incentives from the manufacturer and the dealer knows you are a qualified and interested buyer so they can put a pretty good deal on the table upfront knowing if you like the deal the vehicle and dealer will be acceptable to you.
  • WestMich's avatar
    WestMich
    Explorer
    Mar 28, 2015
    Check chryslers website for lease early termination deals to see if you qualify, if so you can get a vehicle from any Chrysler dealership.

    I do this with nissan, since I plan to continue leasing I get a new vehicle every 2 years even though it's a 3 year lease. It has worked well for me, the end of lease fees are waived and I've been able "deal" with any nissan dealer I want and negotiate the price. When I get to the last year of the lease, the dealer I leased from is the dealer that sends the offer.

    Again, if you don't plan to start a new lease when your current term is up, then it's not a good idea.
  • ed6713's avatar
    ed6713
    Explorer
    Mar 28, 2015
    Powerdude wrote:
    He's not sending you the letter out of the goodness of his heart in order to do you a favor.

    The dealer is doing his own wallet a favor, and not yours.

    Used cars/trucks are often more of a profit margin for the dealer than new ones.

    He would gain a newer used truck to put on his lot and sell at a profit. You would have the same payment, but for a longer time, thus guaranteeing the dealer a revenue stream for a longer period of time.

    Dealer wallet wins = 2
    Your wallet wins = 0

    Pretty straightforward.


    X10
  • WestMich's avatar
    WestMich
    Explorer
    Mar 28, 2015
    If you plan to lease another vehicle when your current lease is up, there's nothing wrong with this deal. The manufacturers usually will offer to buy out a lease in the last year if your credit is good to keep you in their brand for another term. If you planned to purchase at the end of the lease, then It's a different story.
  • toedtoes's avatar
    toedtoes
    Explorer III
    Mar 28, 2015
    Think about it, he's willing to give you a brand new vehicle in trade for a 2 year old vehicle. Why? Because he has a bunch of Tradesmans and Big Horns that aren't selling. So, he can keep non-selling trucks on his lot OR he can give one to you and then sell your turned in truck.
  • Powerdude's avatar
    Powerdude
    Explorer
    Mar 28, 2015
    He's not sending you the letter out of the goodness of his heart in order to do you a favor.

    The dealer is doing his own wallet a favor, and not yours.

    Used cars/trucks are often more of a profit margin for the dealer than new ones.

    He would gain a newer used truck to put on his lot and sell at a profit. You would have the same payment, but for a longer time, thus guaranteeing the dealer a revenue stream for a longer period of time.

    Dealer wallet wins = 2
    Your wallet wins = 0

    Pretty straightforward.
  • sch911's avatar
    sch911
    Explorer
    Mar 28, 2015
    Be very hesitant. I'm sure the terms of this "swap" will favor the dealer and the finance company. And in the end it will be you that pays the extra money. I hope I'm wrong but have seen this tactic time and time again....

    Cheers.

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