Lease Buyout Question (Dodge)

[REInfo]

Hello there,

My lease is coming up and I think I would like to buy it out.

Do they add GST to the buyout price?
Is there any other administration fees, transfer charges?

When I called Dodge, he just gave me the complete buyout price, but it was $600 more than the residual price on my contract, even after I added 5% gst.

Any thoughts? TIA!

[benyl]

There is probably a documentation fee. haha.

Why would you buyout a Dodge? It is likely worth WAY less than what you are going to pay for it.

[spike98]

Originally posted by benyl
There is probably a documentation fee. haha.

Why would you buyout a Dodge? It is likely worth WAY less than what you are going to pay for it.

QFT

You should take the buyout amount and buy used. You will get a value on something used than to simply buy out the lease.

[darthVWader]

What do you have? how many Kms? whats the buy out?

[Redlyne_mr2]

Residual + GST + Doc Fee* = Final amount

*Not all dealers charge a doc fee for a lease buyout.

[911fever]

Originally posted by spike98



QFT

You should take the buyout amount and buy used. You will get a value on something used than to simply buy out the lease.

especially since your Dodge will be overpriced likely to buyout

[JustinGTP]

But he's buying a car he owned since day one. That has to be something?

[REInfo]

Thanks for all your responses.

It only has 30k on it, so it's like new. Granted, the buyout is about $2k more than kijiji ads I've been browsing.

But my question is what that extra $600 is for?

I found my lease contract and it states that there are no administration fees at buyout. Just cost of legal transfer of ownership. But $600 to transfer? Has anyone else done a buyout? What was your cost?

Dealership finance guy won't return calls. I'll have to go in. What a pain.