Seeking a low int rate Lease Buy Out loan

I went to bankrate.com and it is a bit confusing - they all seems to be around 6.5% - and I'm not sure if that's good or not.
My works credit union came in about the same.

Someone mentioned buying the lease out w/ a 0% credit card. I've never done that, not sure if that'd work.

Any other sites to check out? thank u!

(just wanted to say that my car is practically brand new it's a 2004 and has 23,000 miles on it - I really feel it's worth it to finance & buy it).

Message edited 12/13/2006 3:26:35 PM.

Re: Seeking a low int rate Lease Buy Out loan

I have never done that before- but why not just take it back to the dealer?

but I remember the dealer telling me- if want to buy the car- buy it from the begining- not after the lease is up b/c you get a better deal and interest rate

I think you are going to have to get a used car rate- which is higher then a new car rate

I would call the dealer you got it from

Re: Seeking a low int rate Lease Buy Out loan

we did this a few years ago. We went to our bank and got what we thought was a good rate (yes it's a used car rate), but we didn't realize it was a variable rate - so every 3 months it was going up! We paid it off as soon as possible after this - just be careful about variable rates!

Re: Seeking a low int rate Lease Buy Out loan

i did it last year. i realized i was going to keep it and didn't want to finish out the lease--i just went to the dealer and they took care of it

Re: Seeking a low int rate Lease Buy Out loan

you can buy out the rest of the lease with a 0% credit card, as long as you have the limit to do so - but how long would 0% last??

His is how leasing works: they give your car a residual value - that is what they say the car is worth when it is done for you do buy it outright - it has nothign to do with market value - so the lower the lease payments, the higher they are going to make the residual -

I would find out how much it would be to buy it from the dealer - but its usually not worth it, i would just turn the car in at the end of the lease and buy another car.

Re: Seeking a low int rate Lease Buy Out loan

Thank you guys for your input.
I'm going to search out another car to buy/finance. It's all about the warranty too.
I think I'm going to look into the Toyota Highlander.

Side ? - Anyone know how much it is to buy an extended warranty - do you ask the leasing company or the dealership?

THANK SO MUCH