Marauder Gets $17,900 At Auction

[Directedby]

my lease is up on the Marauder -

i called my lease company and they tried to convince me to return the car rather than buy it.

for me to buy the car, I owe $14,500.

the lease guy told me that the current 'auction price' that they get for the car is $17,900.

i am buying, but not sure if I will keep it or sell it for a profit.

i do have $9,000 of goodies on it.

[teamrope]

I'de keep it if I was happy with it.

[MENINBLK]

Of course they want it back.
They can make more money on it than you owe !

[DEFYANT]

Keep it.

You can not buy a MM for 14K anywhere!! If you are tired of it, buy it and seel for a profit. Even if you sold at 17.5K you'd make money.

Congrats at being right side up in a car deal. Stick it to'em!

[GAMike]

Keep it.

You can not buy a MM for 14K anywhere!! If you are tired of it, buy it and seel for a profit. Even if you sold at 17.5K you'd make money.

Congrats at being right side up in a car deal. Stick it to'em!

^
^
What DEFYANT said ^ Its rare for any lease at its full term to be to the benefit of the consumer. If you sell it, don't count on getting all your Mod money back( it would be nice, but you should not count on it.)

When I looked at KBB.com the other day, there were some 180 Marauders for sale in the U.S. and Canada. Some had mods most were stock, or cosmo upgraded.

Hopefully its a good car for you and you will keep it, but if you can sell at a profit, and buy another one cheaper........ Kinda hard to knock equity.

Regards,

[whoskal]

KEEP IT

[Merc-O-matic]

my lease is up on the Marauder -

i called my lease company and they tried to convince me to return the car rather than buy it.

for me to buy the car, I owe $14,500.

the lease guy told me that the current 'auction price' that they get for the car is $17,900.

i am buying, but not sure if I will keep it or sell it for a profit.

i do have $9,000 of goodies on it.

If you can get $17,900 consider yourself lucky!
Gotta Love It!

[ctrlraven]

Keep it!

[sailsmen]

On a lease you are paying for the estimated depreciation and money cost. The residual is typically what you can purchase it for at the end of the lease.

You have already paid for the depreciation down to $14,500. If you sell it for more than that, ( up to the original price) you are not making a profit only recouping money you have already spent, which reduces your cost of ownership.

[Cheeseheadbob]

Basically, in this scenerio, you drove your car for free (minus gas, air fresheners, car cleaning supplies, etc) for the duration of the lease. You would not be making a profit.

You have already paid for the depreciation down to $14,500. If you sell it for more than that, ( up to the original price) you are not making a profit only recouping money you have already spent, which reduces your cost of ownership.

[Directedby]

Just spoke to the bank again. They will allow me to extend the lease for 6 months.

Then in 6 months my payoff is 12,500 -

I hope in 6 months I can sell the car for at least $18,000 - then I will be getting back some $$

stay tuned and if you live in LA and you are interested in buying it in a few months, please let me know...

[KillJoy]

Just spoke to the bank again. They will allow me to extend the lease for 6 months.

Then in 6 months my payoff is 12,500 -

I hope in 6 months I can sell the car for at least $18,000 - then I will be getting back some $$

stay tuned and if you live in LA and you are interested in buying it in a few months, please let me know...

What is your monthly payment? If you are paying $500 / Month.... you are gonna pay $3000 to lower it $2000.

That doesn't make good math.

Keep it, or give it back, or buy then resell.

Don't keep extending a lease.....

KillJoy

[Directedby]

Monthly is $500/mo but only $400 goes towards purchase price.

[Rider90]

If you factor in your initial down payment, plus your monthly payments up until now, are you really making any money?

[jgc61sr2002]

Paul - Keep it you won't be sorry.