[packout]

Is the option to buy out a lease going bye bye?

today's reality of the market value of a leased vehicle being much more than the residual value seems to be impacting new lease terms and options for buybacks.

I would also suggest that this is impacting the negotiations for total loss valuations under the insurance policies. i recently had a total loss and negotiated a valuation that was more than what I paid for the vehicle three years prior. My insurance company was not happy and it was a short term battle, but I won with leveraging my research and state statues. If you do not do your homework and prepare for battle, it will be the insurance company walking away with the added market value that is rightly yours.

 

[kathytn]

Is the option to buy out a lease going bye bye?

today's reality of the market value of a leased vehicle being much more than the residual value seems to be impacting new lease terms and options for buybacks.

I would also suggest that this is impacting the negotiations for total loss valuations under the insurance policies. i recently had a total loss and negotiated a valuation that was more than what I paid for the vehicle three years prior. My insurance company was not happy and it was a short term battle, but I won with leveraging my research and state statues. If you do not do your homework and prepare for battle, it will be the insurance company walking away with the added market value that is rightly yours.

What were the State Statues - what do you look for/term when searching State Statues?

 

[packout]

What were the State Statues - what do you look for/term when searching State Statues?

In my particular state, this involved the licensing of insurance companies to do business within the state. the insurance companies operating in Colorado are required to negotiate in good faith. If they do not, there can be significant financial consequences against the company and to the consumer.

Generally this could be found in your Secretary of State regulations and possibly the state statutes themselves. There may also be relevant case law.

I my situation, I knew of all of the above. Remember the company adjuster's job is to pay as little as possible. They do this every day, while you may come across this issue a couple of times in your life. They have all the resources they need at their disposal to try and wear you out.

I had a spare car available, so I did not need their quick low ball payout (they count on this policy holder need).

 

[denissh]

car residual value is how you lease payment was calculated...
now it's just will be pulled out of thin air..
it's not a lease anymore it's a long term rental

 

[Froglips]

I don't see the advantage of leasing or buying used cars that don't depreciate much.

 

[mtmra70]

I don't see the advantage of leasing or buying used cars that don't depreciate much.

My personal experience has been if you buy a car that is valued very little, its likely a piece of crap. Subaru's used values are higher than many other cars, and their longevity and appeal seem to support that. We bought a used Outback for our son knowing that its value will go down slowly and the resale of it will be higher than that of a lower end car.