Buying car at end of lease

waveneygnome

Has anyone had any experience of buying a car at the end of its lease?

My business partner has had a Dodge Calibre (sp?) for the past 3 yrs, its got 40k on the clock and he has been offered to buy it at the end of the contract in December for £7250 from the lease co.

How easy is it to negogiate with them?

I think Dodge have stopped making this mondel and the franchise has closed at our 'local' dealer - but they are happy to continue servicing etc.

My partner likes the car, he's not too bothered about changing it (although he usually does every 3 yrs), its never given him any trouble.

Thanks
WG

Premier_2

You can usually negotiate a little with them. It takes the uncertainty away for them of what the vehicle might fetch in auction on a bad day ... and of course they don't have to transport the vehicle there or pay the auction house fees.

But they know what they are likely to fetch and are used to pushing their vehicles through auction so don't expect below auction prices.

It's usually a cheap way to secure a good car.

marlot

I've never had a decent price offered, so have always sent mine back!

marlot

You don't say what model Caliber, but a 2006 '06' 2.0TD SE has a trade in value of around £5750. Yours might be worth a little more or less depending whether its petrol or a different model.

ukjoel

You could probably get it a bit cheaper but attending the auction on the day but problem is finding out where it is (and it could be across country). Some cars sold direct so may not even go for auction.

It might be worth talking to your fleet manager and see what extra discount he can wangle out the fleet company for you. Most people dont buy their cars back so probably a chance for them both to do some relationship building and you will save a few hundred quid.

First price is auto computer generated based on percentage values and wont take into account condition.

waveneygnome

Thanks for the posts.

The model is CRD SXT 5 door on a 2006/56 plate

We don't have a fleet manager.

How much would the auction/trade price likely be?

(It has a sat nav system fitted by Dodge as an extra when the car was first leased - if this make much difference to the price?)

Thanks
wg

Anihilator

Far too overpriced.

Have a look on autotrader. Plenty of these cars available for between 6 and 7k. Many of them are a bit newer and lower mileage and from dealers.

Personally wouldnt offer more than 5k as by the time they transport it, auction it and pay any fees etc not likely to be getting anymore than 5k anyway.

Ex_Gas_Guzzler

I totally agree with Anihilator, £5000 is max amount. But do you really want a car that's no longer imported from Dodge who are on their last legs, see article below.

Chrysler will disappear completely from European car markets in 2011, company bosses have confirmed.

In addition, Dodge will have only a niche role outside of its home market, while Jeep will become the company’s sole international brand.

The new Chrysler 300C and new Voyager MPV will both be sold under the Lancia badge, according to a report from Automotive News Europe.

Lancia will re-badge the 300C and sell it as a replacement for defunct Lancia Thesis executive car and the Voyager as a replacement for the ageing Phaedra MPV.

Lancia will also sell a version of the next-generation Sebring saloon, effectively stepping in for Lybra, which went off sale in 2006. Lancia will also get a version of Chrysler’s upcoming medium-size crossover.

Fiat will sell re-badged Dodge models, according to the report. Fiat’s big Croma hatch will be replaced by Dodge’s new mid-sized saloon and the Dodge Journey crossover will step in for the ancient Ulysse MPV.

It is unclear what will happen to Chrysler’s European dealer network in light of the decision to concentrate on Jeep sales.

vikingaero

There's 2007 Calibres available from Motorpoint from £7499!

waveneygnome

Update.

After days of phone calls/faxes, Finance co. have come back with a finail figure of £6,600.

Judging by what others have posted, this is still too high. I have looked on Autotrade/ebay et al and 2006/56's are selling around the £7-£7.5k mark.

The finance co. were adament that they can sell it for £6600 as they already have a contract to dispose of these. I argued and argued but they just said 'fine, we'll have the car back then!' They were not worried in the slightest about not being able to sell the car.

Do'nt get me wrong - I don't like the car - but my business partner does/or rather can't be bothered to source another car.

Any other tips or suggestions in dealing with the finance co?

Thanks
wg

Anihilator

Do not pay over the odds for this car and it is way over the odds. Just play their game and ask about collection etc.

I bet nearer the time it suddenly becomes available for a lot less.