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Thread: Lease Term Expiration

  1. #1
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    Lease Term Expiration

    Have one more year on a 3 year lease.

    Would like to hear experiences from other owners who's lease has expired.

    What was your experience at your dealer?

    Did you Purchase/Walk away/Lease another/how was your residual factored?

    Thanks.
    Last edited by geoffz; 01-08-2017 at 06:14 PM.

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    Quote Originally Posted by geoffz View Post
    Have one more year on a 3 year lease.

    Would like to hear experiences from other owners who's lease has expired.

    What was your experience at your dealer?

    Did you Purchase/Walk away/Lease another/how was your residual factored?

    Thanks.
    The residual is the price they will start the buy out negotiation at. If yours is any higher than $10-11K I would just turn it back in and buy another comparable used one with similar options/mileage

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    Quote Originally Posted by geoffz View Post
    Have one more year on a 3 year lease.

    Would like to hear experiences from other owners who's lease has expired.

    What was your experience at your dealer?

    Did you Purchase/Walk away/Lease another/how was your residual factored?

    Thanks.
    In November I returned my 2014, 5 months early for a 2016. The new lease is slightly less expensive and includes a sunroof.
    There were no additional fees since we leased another car. However, a few days ago I got a letter from Chrysler financial saying that I owed them $333 for excessive wear - damage to the left rear fender. We are hoping to get that fee waived since they waited a month before inspection.

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    Quote Originally Posted by geoffz View Post
    Have one more year on a 3 year lease.

    Would like to hear experiences from other owners who's lease has expired.

    What was your experience at your dealer?

    Did you Purchase/Walk away/Lease another/how was your residual factored?

    Thanks.
    My residual was (as it turns out) pegged at about $18,000 higher than the wholesale value of the car. They would not take a penny less than $24,000 to buy the car after 24 months.

    No negotiation.

    These are not "normal" cars. Nothing is "normal" about the EV world.

    3 year lease return cars are selling at auction for $4500.

    In a year, things could be different, but today, if you want to continue to drive a 500e, you lease a new one and hand in your old one in. They waive the $395 lease deposition fee and everyone is happy. Or you could turn in your car and turn around and buy out back (or an identical car) for about $6500.

    People who bought a 500e because they "don't rent cars" ended up (with a few exceptions) with a very expensive Fiat.
    Last edited by DaveN007; 01-09-2017 at 08:43 PM.
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    Quote Originally Posted by Ray1938 View Post
    $333 for excessive wear - damage to the left rear fender.
    Was the left rear fender damaged when you turned it in?

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    Quote Originally Posted by lbowroom View Post
    Was the left rear fender damaged when you turned it in?
    No damage there when we returned it. The dealer sent a photo that documents the damage. However, the photo also shows scuff marks on the tire sidewall that lines up with that area. I think that proves it happen on the dealer's lot.
    Still waiting to hear back from the manager at that location.

  7. #7
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    Quote Originally Posted by Ray1938 View Post
    No damage there when we returned it. The dealer sent a photo that documents the damage.
    Wasn't there an inspection when you turned in the car?

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