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Opinions on lease buyout

Radchad
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Radchad Enthusiast

Radchad

Posted
Posted

So I own a 2019 TB LT with 22k on odometer.  Truck is very clean and has leather and convenience 2.  My lease is done in 2 months.  My buyout price is $34,200.  Dealer will give me 47k for trade in.   Should I buy the truck and keep it?  Should I trade it in and take money and get new TB for inflated price?  Or finally another thought of mine was to trade it in and walk away with cash and find a 2003-05 Silverado in nice shape for 8-15k. 
reason I mention older trucks is them in my opinion were the best years of Silverado.   Just wantin to see what others would do in my shoe.  Oh , I do love the current TB I have. Tough call!

Let me hear your thoughts 

Thanks guys and gals 

garagerog Enthusiast

garagerog

Posted
Posted
18 minutes ago, shakenfake said:

Trade it in and go find a GMT-800

I agree, take your time and look for an exceptional 05 to early 07 extended cab 4x4 with the L33 or 1500HD with the 6.0 l.

vancealot29 Enthusiast

vancealot29

Posted
Posted

Check Carvana before you do the dealer trade.  My wife had a Fusion lease ending, buyout was $13k, dealer offered $17k, Carvana offered $27k.

 

Of course, you'll need to find a replacement vehicle, which if that can't be done, I would just buy it out and keep looking for the next 12 months, just my opinion.

 

Good luck!

KARNUT Senior Enthusiast

KARNUT

Posted
Posted
47 minutes ago, Radchad said:

So I own a 2019 TB LT with 22k on odometer.  Truck is very clean and has leather and convenience 2.  My lease is done in 2 months.  My buyout price is $34,200.  Dealer will give me 47k for trade in.   Should I buy the truck and keep it?  Should I trade it in and take money and get new TB for inflated price?  Or finally another thought of mine was to trade it in and walk away with cash and find a 2003-05 Silverado in nice shape for 8-15k. 
reason I mention older trucks is them in my opinion were the best years of Silverado.   Just wantin to see what others would do in my shoe.  Oh , I do love the current TB I have. Tough call!

Let me hear your thoughts 

Thanks guys and gals 

In your case of an obvious low mileage driver. 22K miles in 3 years. I would check out extended warranty if it’s reasonable and you like the truck, buy it. Your situation seems unique and position well for a buy out. At the end of the the warranty period truck prices will be back to normal. Once the chip shortage resolves there could be up to 3 model years of ( new) trucks dump on the market. A buyers market.

TNTSierra Senior Enthusiast

TNTSierra

Posted
Posted

Sell it. Get cash, head down south and find a nice rust free 03-06 Silverado in excellent condition! 

Silverado4x4 Senior Enthusiast

Silverado4x4

Posted
Posted

If it were me, I would buy it out, you're not going to find a nice truck being 15-20 years old for that much money you come out ahead keep in mind used car/truck prices are off the hook right now and if you get an old truck, you will be kicking yourself in the ass because whatever you get will not compare to the TB.

 

If he is giving you 47k he will put it on the lot for about north of 50k at least, keep it you will regret it down grading to an old truck.

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eppieguy Senior Enthusiast

eppieguy

Posted
Posted

I'd buy it out, wait for this craziness to be over with the chip shortage and sell it outright and buy new when the time is right. 

 

Just my .02

BossTaco2020 Enthusiast

BossTaco2020

Posted
Posted
2 hours ago, vancealot29 said:

Check Carvana before you do the dealer trade.  My wife had a Fusion lease ending, buyout was $13k, dealer offered $17k, Carvana offered $27k.

 

Of course, you'll need to find a replacement vehicle, which if that can't be done, I would just buy it out and keep looking for the next 12 months, just my opinion.

 

Good luck!

I'd suggest Carvana too. I did it with my leased Lexus RX350 and they gave me a really good deal. OP, be aware (beware) that Carvana really sucks when getting paperwork together. It was a little bit of a hassle having to submit everything multiple times and them rejecting it for whatever made-up reasons. Sometimes they're a bit hit and miss. If they're offering more than the dealer, it may be worth it, it may not.

KARNUT Senior Enthusiast

KARNUT

Posted
Posted

If selling is the desire. Check out CARPROUSA. Car pro USA. And ex car dealer turned radio help buyers, buy vehicles. Very popular and has dealers that he works with. He also likes give me the vin as an alternative to the others.

Radchad Enthusiast

Radchad

Posted
  • Author
Posted

Thanks for all different thoughts on this.  I guess one thing that n my mind is I’m not sure if the reliability of the new trucks for the price.   Anybody have any thoughts on getting 100k trouble feee miles ?   
 

Dunn Senior Enthusiast

Dunn

Posted
Posted

alot of dealerships arent letting people  sell leased cars to third party vendors for exact reason your talking about.......idk about GM but there is alot of buzz about this very thing......very shady, but it is a thing......they want the profits instead of the customer getting it......again idk about GM, just heard about it awhile ago and followed it for minute

 

bought 4 new trucks and sold same amt in last 4 years......just depended, sometimes carvana was highest, sometimes give me the vin, and even the dealership was higher for trade in........i just checked all of them with highest bidder getting the biz........these were all financed vehicles

 

 

TRKLGND Enthusiast

TRKLGND

Posted
Posted
11 hours ago, Dunn said:

alot of dealerships arent letting people  sell leased cars to third party vendors for exact reason your talking about.......idk about GM but there is alot of buzz about this very thing......very shady, but it is a thing......they want the profits instead of the customer getting it......again idk about GM, just heard about it awhile ago and followed it for minute

 

bought 4 new trucks and sold same amt in last 4 years......just depended, sometimes carvana was highest, sometimes give me the vin, and even the dealership was higher for trade in........i just checked all of them with highest bidder getting the biz........these were all financed vehicles

 

 

You are correct. GM  won't give the payoff info to anyone but a GM dealer. Same with Ford. That way they can get inventory for their dealers. 

AirForceAngler Enthusiast

AirForceAngler

Posted
Posted
15 hours ago, Radchad said:

Thanks for all different thoughts on this.  I guess one thing that n my mind is I’m not sure if the reliability of the new trucks for the price.   Anybody have any thoughts on getting 100k trouble feee miles ?   
 

If it has been trouble free so far, no reason it won't continue to be.  You can't go by only what you read in these forums.  For every complaint you see here, there are probably 50 others out there who are totally happy with their purchase.  It's very seldom that someone will come to a forum to just brag about how great their vehicle is.  If you go to others that follow Ford, Ram, Toyota, etc, you'd think those trucks were total junk as well by reading the issues talked about in them.  If it makes you feel better, discuss buying and extended warranty when buying out your lease; work it into the deal.  You probably won't find a truck like that for near that price right now.

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