Originally Posted by kazak
Not sure if this appiles here but the last vehicle I had was a lease buyout (05 Tacoma) and I was able to negotiate directly with the lender (US Bank) when the lease ended. Got the truck appraised to be slightly less than KBB and asked for 1500 less. ended up at 40% of MSRP. This was back in late 08 when the market was starting to look iffy.
When you buy a lease out, you are buying it from the lender and not the dealer. When you lease a car, the dealer is actually selling the car to the lender and then the lender is leaseing it to you. So you would always deal with the lender when buying/negotiating your lease end. The dealer just handles the transaction for the lender and usually charges $500-$800 to do the paperwork, if you are gonna buy it. On my last lease turn in, the dealer actually bought the car from the lease company and gave me the differance on my new purchase. Residual was $19,900,book value at that time was around $30,000, so the dealer bought it from the leaseing company for $19,000 gave me $6,500 toward my new Jeep and sold my old one for $29,900, so it worked out great for me.