Deal or No deal - Real world ADM - Being Transparent

[gobluejd]

I would check the value at Carvana or another dealer. The sales tax doesn't matter if a dealer buys it, there are two separate pay offs. So if the pay off is 37K and a dealer pays 41K you'll get 4K.

I understand that. I was meaning if I sold outright, which is the only way I can buy it. As far as the dealer, they are giving me more than I wanted (walk away). He is giving me part of the profit, actually just about splitting it. Again I am fine with it.

 

[gobluejd]

As far as them asking for the bed cover, I would have said no. If it's worth $500 to them, then maybe I give them $500 and keep my cover...since it will surely cost you more to replace it.

I do not want the cover, already ordered the new version X4s, which has improvements I wanted. Tried to sell on market place (FB garage sales etc) started at $550 down to $400 with no bites in 22 days. I was never going to keep it. I am glad he offered the $500. I told him originally cover is mine to keep.

 

[ganooch]

I am perfectly fine with my deal, as some will be paying way more than I have. Not walking away or re-ordering.

Lol, good for you. At least someone is being honest here. I refuse to entertain even the idea of ADM, but if it came down to $2,500 to close, I have to say I would prob pay it. Especially as my original dealer wanted $20K ADM.

I hope my new dealer isn't reading this....

 

[melvimbe]

The buyout is $37k at the end of the lease, which means I owe $37k + $4600 (unpaid payments remaining) = $43600. Deduct 2 payments I made so far, and that is $42,450.

100% correct on the market value. I was thinking of selling to Carmax etc as I did that a few years ago, however due to Ford's leasing agreement recently changed I can not sell to a 3rd party. I called Carmax and Carvana and both said they can NOT buy out a Ford Lease. So if I want to try and make some money, I would have to buy it in my name and pay taxes, or more confusing, find a buyer on my own, arrange them to agree to a price, me pay the taxes, they pay me back, wait for title, transfer title etc. Just too much work and could take month. My sister inlaw just made $3k selling her Audi to Carmax, but took months to get title due to covid. I want to walk away.

Got it, I think. if I understand this correctly, you aren't really saving much this way on the tax side of things. I mean, you will need to pay tax when you buy out your loan...say $40k when the time comes. if the Raptor is $90k_+ $2.5k ADM, your paying tax on the difference...$52.5k. You might save a little bit in taxes if you ask them to charge you full price of the Raptor ($95k) and give you full value for the trade in (difference between payoff and market value)....as that appreciated value is your real tax free part.

I do agree that buying out and selling elsewhere is not helpful, unless you are going to buy elsewhere as well.

I really hate leases personally. The always seem to end up with low payments upfront and a big balloon payment at the end. The restrictions on mileage and such don't work well for me. And it always seems like the amount of the lease payments is higher than the interest + depreciation you would see on a traditional loan.

 

[melvimbe]

I do not want the cover, already ordered the new version X4s, which has improvements I wanted. Tried to sell on market place (FB garage sales etc) started at $550 down to $400 with no bites in 22 days. I was never going to keep it. I am glad he offered the $500. I told him originally cover is mine to keep.

Then it's a good deal. Not too surprising that you aren't getting a lot of value for used, and this saves you the hassle of selling it separately.

 

[melvimbe]

Lol, good for you. At least someone is being honest here. I refuse to entertain even the idea of ADM, but if it came down to $2,500 to close, I have to say I would prob pay it. Especially as my original dealer wanted $20K ADM.

I hope my new dealer isn't reading this....

I am sure I would keep the deal as well, maybe even for $10k. The reality is that they have the leverage as they can find another buyer, but I can't find another seller...right now. I would have invested too much emotionally to want to back out. I would not do business with them in the future, if it can be avoided.

I also might see if are willing to offer some goods and services at cost to make up for my loss on the existing arrangement. You want a new bed cover, so maybe they will provide that at a discount. Perhaps a discount on oil changes, or a low cost extended warranty. They lose no money by offering this, and you can easily take your business elsewhere.

 

[SilverBolt]

You are getting played big time. I bet their net on your deal will be close to $20k.

 

[GTTXRAP]

"I'm fine with it and consider myself lucky".

Why? You got screwed. Dealers love people like you--you let them get away with ******** customers. Heck you even consider yourself 'lucky'.

Got to love it. Amazing the way people think.

 

[WestTXRaptor6]

I have posted my dealer at invoice multiple times on this forum for years now. Amazing people are willing to get bent over and come on here and brag about it. Also the same folks who go on the interest rate thread and want to save .5% on their loan. Lunacy.

 

[melvimbe]

"I'm fine with it and consider myself lucky".

Why? You got screwed. Dealers love people like you--you let them get away with ******** customers. Heck you even consider yourself 'lucky'.

Got to love it. Amazing the way people think.

I thought 'lucky' comment was in reference to other deals that people are getting, and that he didn't really consider walking away to be much of an option. Obviously, walking away would be the correct negotiation tactic, but that would likely result in losing out on the Raptor for several months.