Trade in my leased (body damage) car for a new one?
May 30, 2009 11:32 AM Subscribe
Single girl. Two large dogs. 19 months left on a leased sedan now complete with body damage, and the real need for a larger car. Are there any good options?
posted by alma to Travel & Transportation (19 answers total)
About 2-1/2 years ago, I leased a Subaru sedan. It was, at the time, great for me. Fast forward to now, and I've moved to an area where ground clearance is important. I also need more room for my two large dogs: the interior of my sedan is ok-ish for now, but I'm worried what they'd do to the car over the next 19 months.
I went to the dealership yesterday and they were ready to purchase my leased sedan for its purchase quote (getting me out of the lease entirely) and sell me a new used '09 Forester at their sticker price with a few extras. This sounded pretty good to me.
Then they looked at my leased sedan, and instead of buying my car for the purchase quote price, they said they would buy it for around $10k - leaving me $5k to put on top of the price of the Forester, making my monthly payments pretty ghastly.
I told them there was bumper damage and one ding, but there was other damage I was oblivious to. One of the wheels is damaged from being scratched against a curb (boyfriend admitted he did this), and there are actually about 6-8 dings all over the car doors. There are small scratches, and the windshield has a noticeable mini chunk out of it (I did take it to Novus and had it fixed, but you can still see it.) The dealership told me I'd have to get all of this fixed before I turn the car in to the leasing company, and that it's either pay now or pay then.
I'm not sure what to do now. I don't have cash on hand to get all of these repairs done. I did get a quote from a body shop weeks ago for the bumper damage and one of the dings - bumper $1,000 and the one ding I was aware of was $500. Multiply that by 6-8.
Keeping the sedan through the end of its lease freaks me out because I wonder how much more damage I'm going to do to it and how much damage my dogs are doing to do to it.
The idea of owning my own car as opposed to leasing it just feels so much better right now. But the adding that $5k makes the monthly payments, while do-able, difficult.
I now understand why people say leasing is a bad idea! At least for people like me.