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Purchasing at the End of Your Lease

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Comments

  • Hi all,

    I hope someone might have some input. I'm coming off a lease on a Nissan Altima. I've decided to purchase the vehicle given the residual is competitive and the car has relatively low mileage. I called NMAC as I've previously done this over the phone with other leases but their rather unhelpful phone system suggested I needed to visit a dealer. Do I need to actually visit the dealer to complete the transaction? I wanted to hear what NMAC was offering in terms of rates before pursuing financing through my own bank. I'd rather not set foot in a dealership since this is a rather simple transaction and I assume the dealer will try to push through paperwork/'admin' fees since there is no other profit in it for them. Has anyone had success doing the transaction over the phone or obtaining financing through another financial institution and simply having NMAC mail the paperwork? When I requested a payoff quote, NMAC offered quotes for purchasing through a dealership and a quote for purchasing through a financial institution. The quote for purchasing through the financial institution was much higher so they're clearly trying to provide an incentive for me to go to the dealership. Has anyone gone through this with NMAC before? Can you comment on the experience and possible suggestions for getting this done quick and without headaches?

    Thanks,
    John
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