IndyKid

Hi everyone - I am new here and looking for a little insight.

I want to joing the team and am currently looking at a CPO 2008 ISF. The car has 31k miles and is in good shape. The car was bought buy the dealership at the end of a lease. Searching around the forum, it looks like the lease buy out is typically about 34k-35k - is that accurate for most leases?

I am trying to get a base for what they paid + the money they put into the vehicle to CPO it, to determine where I will start my negotiating.

The car is a 2008 Mercury Silver, 31k miles, ML/Nav, CPO in good condition. They are currently asking 44k.

Any thoughts regarding the car or lease buy out information would be greatly appreciated. Thank you in advance and I look forward to joinging the club and being a regular contributor to the forum!

Regards,

Andrew

Juanca

iTrader: (5)

Price is way too high, fair price for a CPO with that mileage would probably be around $40k even.

TokyoF

Agreed. Despite the economy, car sales in the US have been pretty good in recent months so take that into consideration. Can't hurt to haggle, and dealers have more wiggle room with used cars as opposed to new.

IndyKid

Juanca - Thank you for the quick response. I agree 40k would be fair, idealy I would like to pay 39k.

I am really interested in the buyout amount for a lease so I can use that information to negotiate. They have put 2k into the car based on the service history they pulled for me to CPO the vehicle. It has been on the lot for 1 month.

TokyoF

The 2k in service should have nothing to do with the price.

IndyKid

Tokyo - While I understand what you're saying, I also don't. If you can elaborate that would be great.

The way my mind thinks about it, the approx. purchase price + the 2k in service they did gets me to a space where above that is dealer profit and I can negotiate from.

ISFSteve

Something is wrong with that price. As much as I would like to think they are worth that much, a realistic price would be 38-39K unless there are a lot of extra goodies....

BryanLeISF

iTrader: (3)

I drove out around 43k on my CPO and it only had 22,000 miles on it. Like isfsteve said 38k would be reasonable before tax and title

TokyoF

I guess I'm trying to say that performing serv/maint. is part of owning the car and you can't expect to get that back on the sale of the car. It's like cars not holding their value when heavily modded as opposed to OEM. A dealer isn't going to give you compensation for adding an exhaust and intake on a trade in for example; if anything, it will deduct from the value because trying to resell a car with a voided warranty is a crap shoot.

Dragtek

iTrader: (2)

Like most are saying that asking price is rather high. I too am in the market and you can surely find an F with the same miles for 38-41k. You can get that price down for sure.

Juanca

iTrader: (5)

Buy out price after a lease is around $37k to $38k, to get the car CPOed will be at least another grand, that's why I said $40k would be a fair price for both parties.

DCoolBeans

No

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andysvette

iTrader: (3)

My 08 was bought out early. I picked it up with 22K on the clock and payed out the door for $38,500 and that was 2 years ago..

Juanca

iTrader: (5)

^^^ You got very lucky, a 2 year old ISF with 22k miles and $38.5k OTD is not the norm.

Vroomin350

iTrader: (28)

damn that was a smoking deal, unless you put a crap load of money down it cost you around $34K +++