As I look at all of the questions I’ve received via the Ask Bark inbox over the years, I find that a disproportionate number of them are on the topic of leasing. In all honesty, leasing isn’t that hard to understand. You’re paying the cost of depreciation over the time you use the car, plus interest. Of course, there are other factors involved, and one of those is what happens when a leased car is returned to the dealership. Our friend, Brian, a longtime TTAC reader, turned in his Buick Regal recently and was a little compuzzled (that’s a word my son made up, but I think it fits perfectly here) about what happened. Let’s read.
Hi Bark:I had previously asked this to a certain Jalopnik car sales expert and got a bit of a glib, didn’t really read my question answer so I thought I would take another stab and reach out to an actual expert.Back in May I turned in a leased 2016 Buick Regal GS (FWD – auto – black) and I got stuck with the $495 disposition fee. I took over the lease from someone else and I got a pretty darn good deal so I really can’t complain too much.I took the car to several GM/Buick dealers toward the end of the term to see if they wanted to buy it. It was in good shape and it was almost 10k miles under the maximum. The residual was $19k and change plus taxes and fees. I knew I wasn’t going to make money on it, I really just wanted them to take it at residual and relieve me of the disposition fee obligation. The closest offer I got was $18k with most around $16k. One dealer told me they would pay the leasing company the residual themselves in order to keep it on the lot if they wanted to sell it.Is this true? The dealership I turned it in to wouldn’t buy it from me but they kept it and sold it on their used lot. Did they actually pay the leasing company the residual to keep it and if so, why not buy it from me at the same price?Can you enlighten me?Thanks,Brian
Can I? You bet I can.
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