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Discussion Starter #1
Hello all,

My 2018 Pacifica lease is expiring next month, and I am planning to keep it.

The purchase option is $21,xxx plus tax written on my lease. Is this price negotiable?

My lease bank is Ally Bank and their CSR said the price is not negotiable, maybe I am not calling the right person? They did not re-direct my call to anyone else to discuss.

Anyone have this experience before? May I get some suggestion? Thank you!



Best,
Jeffrey
 

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No, not negotiable. There are only a couple companies that will negotiate the residual buyout, BMW is one.
 

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Just curious, how does the purchase option compare to the KBB.com dealer and private party prices for your Pacifica?
 

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Discussion Starter #4
Thank you guys.

The Carmax and Carvana instant offer for my car is $24,000 , so I think my buyout price $21,750 is not bad, coz it has very low mileage, only 15k for 3 years.

Thanks
 

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Thank you guys.

The Carmax and Carvana instant offer for my car is $24,000 , so I think my buyout price $21,750 is not bad, coz it has very low mileage, only 15k for 3 years.

Thanks
Have you considered the difference in cost between leasing another new Pacifica and financing your buyout cost (also maybe add sales tax?). Interest on used cars is usually higher. My quick calculations show the lease would be less. Consider too, that your present Pacifica will lose another half it's present value, AND you are exposing yourself to out of warranty repairs. My choice in your situation would be to sell it to Carmax, pocket over $2K, and lease a new one.
 

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If Carmax/Carvana is offering you $24k you could probably get slightly more selling it privately. I believe that with a 3rd party buyout the 3rd party pays the tax when they register the vehicle at the DMV saving you that and increasing your profit on the sale.
 

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I believe that with a 3rd party buyout the 3rd party pays the tax when they register the vehicle at the DMV saving you that and increasing your profit on the sale.
That varies by state.
 

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And if you buy it out at end of lease or finance the lease buyout your paying interest on the loan and the longer you keep it and try to sell it the value will plummet. Factor in your lease payments over term and your buyout and see what your you’ve already sunk into it , if you choose to keep it .
 

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If Carvana will offer you $24k, trade it and pocket the $3k. Thats why I've never turned in one of the many cars I've leased...
 

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Are you going to continue driving 5K per year? If so, keep it. I don’t think you will get a better price for your car in this market. However, if you can get a 0 down lease with tax rolled in for under $300 per month, then I agree with the othes that are recommending to sell and lease a new one. I don’t know what the going promotions for Pacificas are right now, but I’m guessing a well equipped one will be considerably more.

Otherwise, Those that are telling you to get a new one need to consider the semiconductor shortage on new cars, the low miles you drive and the high fees you will need to pay to get into a new lease. These include the bank fee and dealer doc fees, neither of which are applicable to your current car.

As per depreciation, 40% depreciation on a $20,000 car is the same as 20% depreciation on a $40,000 car. Point being that a used car would have to depreciate heavily compared to a new car. Not likely.

You still have 2 years of powertrain coverage, if you this is not enough, you can get a Maxcare plan to supplement.
 
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