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Opinions on lease buyout

Radchad
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Radchad Enthusiast

Radchad

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Posted (edited)

Thanks again fellas for all the opinions.   As much as I like the older Silverados 03-07 I think I would regret downgrading to one from the TB as one user commented.  I’m leaning towards buying it for $34k and I always will have option of trading in later if I desire.  I think for the price I’m getting I’ll be able to get more than that on a private sale or trade in for a few years yet. 

Edited by Radchad
KARNUT Senior Enthusiast

KARNUT

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The car pro radio show was pushing Car bingo on today’s show. He claims his car pro dealerships don’t go over MSRP. I never bought a vehicle using the service. I usually buy a leftover or CPO. I do belong and show my card for service. Dealers are protective of the rating. 

jlong1984 Enthusiast

jlong1984

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Anything you buy right now, whether it be a GMT800 or another T1XX, is going to be inflated in price. Buying out your lease is the right call IMO. 

diyer2 Senior Enthusiast

diyer2

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I would buy the lease out if I had the cash. If no cash, trade it and buy an older truck. My goal would be no payments.

Likarok Senior Enthusiast

Likarok

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Yes the best is if you can sell it yourself.

To me the whole point of leasing use to be the lower payment, but now there is not a lot of difference. This is a purely personal decision. Most people think leasing is crazy. 

There are a lot of great used trucks out there right now but the prices are overly inflated. 

Myself, I would say there is no bad decision in your case. If you really like the truck, buy it out.  If not get rid of it.

 

 

  • Like 1
Transient Senior Enthusiast

Transient

Posted
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A bird in the hand is worth 2 in the bush. 

 

You currently have the truck, and ownership is guaranteed if you buy it.  Ownership of any other vehicle isn't guaranteed at this time.  New and used inventories are very low in quantity and inflated in value.  Take what you currently have and keep it.  If you choose to part with it later on down the road, do so when things are back to normal.  You won't be able to get the money for it then that you can today, but at least there'd be a better chance of having another vehicle to buy at a reasonable price.  And, 100k miles shouldn't be an issue for these trucks, imo.

  • Like 1
CXXX Enthusiast

CXXX

Posted
Posted
On 1/21/2022 at 11:04 AM, eppieguy said:

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

My thought exactly

  • 2 weeks later...
Libertas Enthusiast

Libertas

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Posted

I just bought out my 2019 AT4 today.  34K miles on odometer, extended cab... Buyout was 35K, and it booked for 54K.  I'd say I did alright.  If there was actually any stock out there that had all the features (Heated Steering Wheel/Seats etc) I'd be looking.

 

At this point I'm going to drive it and see what happens when the AT4x's hit the market

Radchad Enthusiast

Radchad

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22 hours ago, Libertas said:

I just bought out my 2019 AT4 today.  34K miles on odometer, extended cab... Buyout was 35K, and it booked for 54K.  I'd say I did alright.  If there was actually any stock out there that had all the features (Heated Steering Wheel/Seats etc) I'd be looking.

 

At this point I'm going to drive it and see what happens when the AT4x's hit the market

Nice.  Purchased mine too.  Your situation was similar to mine.
 

Feel like  we got good deal on similar trucks  for $35k as residual value…considering the insane market prices.  B751657B-58BB-40A1-AA39-D89CA8D555E9.thumb.jpeg.4dc914a8f0a683bd15f23afe710d2c8f.jpeg

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