Lease Buyout - Too Good To Be True?

[HeliDriver]

Anybody ever heard of or dealt with these guys: http://www.buybackbrokers.com/ ?

They say they can negotiate a better buyback for you on a lease-end purchase. Failing that, they say they will follow your vehicle to auction, and buy it back for you at wholesale.

The website seems legit, but they haven't responded to my phone messages or emails. 

[HeliDriver]

Still no call back from the phone messages I've left. And today, my second email was returned as undeliverable: apparently the email account no longer exists.

I wonder what the story is? It appears from the website that the business was just started up back in July. Seems a little early for it to have failed already?

Too bad, because it sounds like a great idea to me. People are always asking here about getting a deal on their lease buyout. Interestingly, I ran across some posts on another forum that say negotiating with the finance companies over lease buyout values is routine down in the States. Maybe someone saw the floodgates opening on this side of the border and wanted to put a quick stop to it? 

[HeliDriver]

I finally got an email back from them. Seems like it's just a side business run out of a Honda dealership back east.

Bottom line: they told me they only operate in Ontario, and can't do anything for me and my Alberta vehicle. Seems odd, as I expect their service consists only of a few phone calls and negotiations with GMAC: it's not like they would need physical access to the vehicle.

[Petzy]

I finally got an email back from them. Seems like it's just a side business run out of a Honda dealership back east.

Bottom line: they told me they only operate in Ontario, and can't do anything for me and my Alberta vehicle. Seems odd, as I expect their service consists only of a few phone calls and negotiations with GMAC: it's not like they would need physical access to the vehicle.

I run this service aswell....The Honda store must be co-owned with a GM franchise as well...I cant see why we could not help outside of the province.

All GM Dealers have the ability to do this but most refuse to offer the service http://mark-petz.com/leasebuyout.aspxLink


I handle about 5 of these a month and it is a great program

[HeliDriver]

I did talk to my local GM dealer in the end. He was willing to work with me, but said his dealer purchase option was actually $6,000 more than my lease buyout value.

The truck is a 2007 Suburban. I guess they're holding their value pretty well.

[Julie]

Are you thinking of buying out and then selling (at a higher price)?

[HeliDriver]

No, we love the truck and plan on running it into the ground.

Lease rates were decent when we got it, so I opted for a three-year test drive (lease) instead of just buying it from the beginning. I'd never owned a domestic before, so wanted to date it for a while before making a commitment.