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What are the fees when buying your leased car?

55inthe5455inthe54 Posts: 5
edited February 2016 in INFINITI
Hi all,

I'm interested in buying my car at end of lease because I love it, it's way under mileage, and is very well taken care of with minor scratches and dents. The Canadian black book value is thousands more than residual.

In addition to residual and HST, they're charging $500 admin. and $400 "lease buyout" fees. Seems pretty hefty and I could call BS out to them, but how am I suppose to argue something like this when a) I do want the car and b) they want the car too (i.e. they would love it if I just returned it so they could sell it and make more of a profit)

My lease agreement says, however, that the option to purchase price is "the residual value plus applicable taxes, plus the cost of all governmental or other regulatory fees and taxes and all safety standards, emissions, and other required certification incurred in connection with your purpose of the vehicle and the transfer of ownership of the vehicle to you." The dealer made it seem like the $400 lease buyout fee is the cost of transferring ownership - thoughts on this?

The only things I can think of as bargaining chips is a) bringing my car for maintenance elsewhere; b) getting a loan somewhere else (but Infiniti Financial does have the most competitive rate so far)

Any help or comments on these extra fees and how to bargain them down would be very much appreciated. Thank you!

Best Answers

Answers

  • Thanks for the reply, kyfdx (you have a sweet ride btw)

    The contract says "Arrangements for the purchase of the Vehicle may be made with the Dealer or an authorized dealer as otherwise designated by us."

    so looks like can't go through IFS directly but I can try. Otherwise, it does suck and I can try threatening to do maintenance elsewhere...not sure what else I can try. Anybody else have any tips on dealing with this? cheers
  • Hey stever - thanks for the reply. I called IFS and they said I can go directly through them or try a different dealer. cheers
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