Low Miles on Leased Car

I have a car that has a lease coming up at the end of the year. It's 30,000 miles under my allotment! (I fly for work more than I drive)

Any advice on what to do? I just started thinking about this problem today.

 

Let someone else take over the lease

 

Where in Southern Cali are you? I have a 1996 Saturn that is just right for you .. except a few unpaid parking tickets And I drive a lot lately...

 

wow. I doubt there is much you can do about it now, other than sell it for more than your residual. I guess next time you will want to talk to the sales guy to build something into your contract if you manage to pull that off again.

 

Well... it's a sports car and it used to be my daily driver. Two years of having a child pretty much killed my road trips to vegas. I bought a sedan with the intention of selling the sports car two years ago, but it's been too hard for me to give up. It's my dream car, so when people would call and be interested, I would just not call them back LOL. It's still great for drives up the coast - I just haven't had a lot of that going on the last few years.

I suppose the only time for re-negotiating the sale price is within a couple months of lease end. I hate to pay the full residual value, but I don't know if there is much choice once they see the mileage. I haven't yet held onto a leased car for the full term of the lease, so I'm in new territory when it comes to negotiating a buy price at the end.

 

I will take over your lease if you want

 

Don't you get the opportunity to buy it? That would allow you to keep or sell the value of the low mileage.

I don't lease so I don't know how it totally works.

I just try to buy used low mileage for our use. Bought a $16,000 mark III conversion van for 10,000 about 3 years ago or so and now its worth about 7,000 - much less loss.

Also found a killer deal when I needed a reliable car for my last job, but didn't want to spend much - for 2,200 I got a Chevy lumina with only 21,000 miles. It now has 57k It was driven by a 92 yr old women in San Francisco, so she would side swipe people and then she finally rear ended someone so they stopped her from driving. (she didn't have insurance or even I license if I remember right) Car get me where I need to be with no car payments and no repair bills - thank God. (use to drive a clunker to work before that, went through about 5 in 10 years that you would never know if it was going to make it.)

 

I've been driving the same car for wayyyyyy too long

 

Seems to be no shortage of that going on here. It is amazing how many front license plates are hanging by one screw here...it is pure comedy.

 

I'd say your best bet is to contact the company that you are leasing the vehicle through and see what their thoughts might be on the subject and if there is anything that you can work out prior to the close of your lease. Or like was said above, buy out the car for what the residual is at time of purchase and sell it for more and/or keep the thing since you seem to love it? With that little of miles on it, can't be a bad car to keep around if you can afford it.