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I live in Canada and I am currently leasing a Vibrant Blue 2002 Spec V. The lease is up soon and if I take it back to the dealership I know they will ding me for being over my KM. Currently it has about 55K on it. My Buyout is just under $16,000 (CAD) but I have been looking at autotrader and have been seeing the spec v from $19,000 - $22,500 but they all have less KM's than mine. So I guess my question is do you think it would be feasable for me to beable to sell the car for my buyout?

Thanks.
 

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Bow to your SE GOD
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All you can do is try!
Get an ad in the Auto Trader, and sell it for no more then you have to; if you really want to get rid of it, don't be greedy!
I was in that position with my old Sunfire- and there were 100's of other similar cars every edition and I sold mine, so you'll be able to also.
Shine her up, vacuum her out, and you'll find a buyer.
 

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SER Mod Father
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Funny I was stating in another thread that buyouts are always less than market value. Not too much on a low value car like our Spec's but you could be up a couple grand it sounds like and turn it quick. You will need to get a bank loan and buy it out before you sell someone elses car of course.
 

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It will depend on how many miles you have, what the demand is in your area, what kinda of shape your car is in etc.

It will also depend on what your lease says? How much is it to transfer, early termination, etc...
 

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Man-Whore
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chillboy said:
Funny I was stating in another thread that buyouts are always less than market value. Not too much on a low value car like our Spec's but you could be up a couple grand it sounds like and turn it quick. You will need to get a bank loan and buy it out before you sell someone elses car of course.
yes, that is what you do.
Get a loan, pay off your car at the dealer. Then sell it for any price you want privatly. And pay off your loan.

Of course, all this within 1 month so that you don't get hit by interest ;)
 

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SER Mod Father
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Short term from a well off family member would be the way to do it. If not you be better with a little higher interest rate from the bank with the option of paying early with no interest penalties. Then budget some advertising so you can turn it quick.
 

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Bow to your SE GOD
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I think my Auto Trader ad with pic was about $17/week; well worth it.
I don't know of a publication that gets that much interest/coverage.
(If it helped me sell a Sunfire, it can sell anything)
 

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Don't forget you have to pay taxes on your buy out.

So you'll be looking at $16k plus PST and GST.

GST will add another $1100 to the price plus your Province's sales tax (unless you're lucky enough to be in Alberta)
 
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