Advice on 40th Anniversary Lease Takeover Please!

11Thumper · 06-17-2012, 04:58 PM

Quote:

Originally Posted by MattP725

Never pay someone to do them the favor of taking over a leased car they no longer want. 90% of the time it costs them substantially to break the lease... he is entitled to nothing.

I totally agree. He had his fun and the benefit of a new car. For whatever reason he needs to unload the financial burden but I don't see how he's entitled to cash payment. It would be good for you to determine the cost to him of breaking the lease prior to negotiating.

brettmag · 06-17-2012, 05:06 PM

Actually her name is Pam! So it's not a guy who abused it for 2 years now wants out. Not saying that Pam didn't drive it hard... but, you know...

I would not pay the lease transfer costs. This is their penalty to get out of the lease. I would be doing them a favour and should not have costs like that. I found on the internet that it costs $450 to transfer. Could be wrong though.

andre12031948 · 06-17-2012, 05:20 PM

Forgot to add taxes that you'll BOTH pay on the $18,900 buyback

PLUS the interest to finance. Together should add up to $5,000 for each of you.

So now it's a $40,000 used car for you.
AND
$60,000 for her????

and whatever other fee's (transfer?)that have to be added.....

brettmag · 06-17-2012, 05:28 PM

Yes, 10% tax on $18,900 buyout. I would pay cash for that so no interest costs.

Pay a premium for 40th z's because they are very rare in Canada. There's only one used 370z in my province and it's a 2010 touring with sport with 17,000 km private sale (no taxes) listed for $36,000, probably could get it for $34,000. This one comes with winter tires, which is nice and saves around $1200.

andre12031948 · 06-17-2012, 05:30 PM

Quote:

Originally Posted by brettmag

Actually her name is Pam! So it's not a guy who abused it for 2 years now wants out. Not saying that Pam didn't drive it hard... but, you know...

I would not pay the lease transfer costs. This is their penalty to get out of the lease. I would be doing them a favour and should not have costs like that. I found on the internet that it costs $450 to transfer. Could be wrong though.

So it's Pam

How much are you smitten by her?
How badly does she wants out of the lease.
Sometimes a deal can be worked out

brettmag · 06-17-2012, 05:38 PM

I emailed to find out. We'll see how much she's willing to move in negotiation. What would you suggest I offer to make it a good deal?

andre12031948 · 06-17-2012, 05:44 PM

Quote:

Originally Posted by brettmag

I emailed to find out. We'll see how much she's willing to move in negotiation. What would you suggest I offer to make it a good deal?

Depends how good looking she is and how often she sees you.

brettmag · 06-17-2012, 05:48 PM

Haha. The car is in Toronto, I'm in Western Canada. So I would have to get the car shipped or else fly there and drive back. There's another $1000... ****. This isn't sounding good!

Yes health car is free (included in taxes), economy is doing very well, unemployment <5%, etc.

andre12031948 · 06-17-2012, 06:04 PM

Quote:

Originally Posted by brettmag

Haha. The car is in Toronto, I'm in Western Canada. So I would have to get the car shipped or else fly there and drive back. There's another $1000... ****. This isn't sounding good!

Yes health car is free (included in taxes), economy is doing very well, unemployment <5%, etc.

5% unemployment is good. I know Cadada is doing well. We have somewhere between 8% to 20% unemployment. We created 4 million jobs, or saved them, or lost 2 million. It's hard to tell what is going on in the U.S. The only thing that we know for sure are our country's TOP secrets. We get them leaked to us every week.

O.K. enough from me.

Best of luck in your decision......

andre12031948 · 06-17-2012, 05:42 PM

So cars & taxes are much higher in Canada. At least since Canada is Full of oil & vast energy sources, with a much smaller population, gasoline must cost much, much less than in the U.S.
Oh, gas also costs more.
Well, at least health care is free. Or is it?

06-17-2012, 05:20 PM	#3 (permalink)
andre12031948 Banned Join Date: Feb 2011 Location: monticello new york 127 Posts: 1,095 Drives: 08 350z black 6m/t Rep Power: 0	I forgot something Forgot to add taxes that you'll BOTH pay on the $18,900 buyback PLUS the interest to finance. Together should add up to $5,000 for each of you. So now it's a $40,000 used car for you. AND $60,000 for her???? and whatever other fee's (transfer?)that have to be added.....

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06-17-2012, 05:06 PM	#2 (permalink)
brettmag Base Member Join Date: Oct 2011 Location: Saskatoon, SK Posts: 12 Drives: Not a 370z yet Rep Power: 15	Actually her name is Pam! So it's not a guy who abused it for 2 years now wants out. Not saying that Pam didn't drive it hard... but, you know... I would not pay the lease transfer costs. This is their penalty to get out of the lease. I would be doing them a favour and should not have costs like that. I found on the internet that it costs $450 to transfer. Could be wrong though.

06-17-2012, 05:28 PM	#4 (permalink)
brettmag Base Member Join Date: Oct 2011 Location: Saskatoon, SK Posts: 12 Drives: Not a 370z yet Rep Power: 15	Yes, 10% tax on $18,900 buyout. I would pay cash for that so no interest costs. Pay a premium for 40th z's because they are very rare in Canada. There's only one used 370z in my province and it's a 2010 touring with sport with 17,000 km private sale (no taxes) listed for $36,000, probably could get it for $34,000. This one comes with winter tires, which is nice and saves around $1200.

06-17-2012, 05:38 PM	#6 (permalink)
brettmag Base Member Join Date: Oct 2011 Location: Saskatoon, SK Posts: 12 Drives: Not a 370z yet Rep Power: 15	I emailed to find out. We'll see how much she's willing to move in negotiation. What would you suggest I offer to make it a good deal?

06-17-2012, 05:48 PM	#8 (permalink)
brettmag Base Member Join Date: Oct 2011 Location: Saskatoon, SK Posts: 12 Drives: Not a 370z yet Rep Power: 15	Haha. The car is in Toronto, I'm in Western Canada. So I would have to get the car shipped or else fly there and drive back. There's another $1000... ****. This isn't sounding good! Yes health car is free (included in taxes), economy is doing very well, unemployment <5%, etc.

06-17-2012, 05:42 PM	#10 (permalink)
andre12031948 Banned Join Date: Feb 2011 Location: monticello new york 127 Posts: 1,095 Drives: 08 350z black 6m/t Rep Power: 0	So cars & taxes are much higher in Canada. At least since Canada is Full of oil & vast energy sources, with a much smaller population, gasoline must cost much, much less than in the U.S. Oh, gas also costs more. Well, at least health care is free. Or is it?