Quote:
Originally Posted by Bc2005
My friend is shopping for BMWs, but currently has an Acura RDX where the 3 year lease ends in a few months. The dealer already contacted her about ending the lease early and moving into a new Acura.
Since new car prices seem to be at an all time high now, I suggested she might want to buy the RDX for the residual value, and wait to see if prices on new cars come down. When she asked the dealer what it would cost to buy the car, the sales rep told her it would depend on condition, they would have to inspect the vehicle, etc. This seems crazy for a leased vehicle. Due to market conditions, I suspect they want to get it back into the dealership because the residual is lower than current market prices.
Can't you usually just buy a leased vehicle at the end of its lease for the residual value that was documented in the lease paperwork? My understanding is that some BMW owners try to negotiate to buy for less than residual, so buying at the original price seems to be a very reasonable choice.
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Agree with the other comments and will add that a lease is a valid contract. Review the terms of purchase and that will be all they are obligated for. Should the dealer/OEM try to tack on "other" fees or terms and refuse to honor the agreement; then it would be breach of contract on their part and something you could sue for. It will not go that far though.