Quote:
Originally Posted by Charleston335
Hmm so youre saying I cant take it to a carmax or another dealer or put it on autotrader and just sell it? Bc that is not what they told me and its not what ive been reading. Not saying youre wrong but curious.
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No, not unless you buy it. Simply put this is how the lease works (and I'm not even going to bother going into residual value, net cap costs, depreciation, etc)...
You negotiated a price.
You then figure out your monthly payments.
Negotiated price - sum of monthly payments = buyout price
After your lease is over, you then have to decide
a) do I return the car, and have nothing left (no money owed, no car to keep)? or
b) keep the car buy pay off that buyout price.
If you choose to walk away, which you can and most do, you do not own the car. And therefore you can't sell/trade it. You should be asking yourself, what do you think the difference between lease and buy is?
However someone did make a good point, in that if you're worried this "accident history" may lead into a lot of downtime, headache, frustration, it wouldn't hurt to renegotiate your lease (as if you were "interested" in buying it out later - even though you are not). That may lead to smaller monthly payments. But if you only brought up this thread because you thought you were on the hook for buying the car and you didn't want to get stuck with it, then you really have nothing to worry about for the reasons I've already mentioned.