Has anyone here purchased a vehicle that was coming to the end of a lease?

My mother has an 08 Grand Cherokee Laredo coming to the end of its lease and she has the option to buy it for ~$13k. She just bought a new car yesterday and has no intention of keeping the Jeep. At that price point, it seems pretty enticing to me. I have no need for an additional car but the price seems much lower than other similar vehicles are going for locally.

Are there any major pitfalls to buying this vehicle that Im missing?

3/16/2011 11:24:11 AM

I leased my '99 Saturn SL1 for 36 months and had planned on turning it in at lease end, but it had double the allowed miles and didn't feel like getting raped, so I just financed it. My payment stayed exactly the same until the car was payed off.

3/19/2011 11:54:52 AM

Usually the biggest pitfall to an off lease vehicle is that people flog the hell out of them knowing they aren't in it for the long term. As long as your mom drove it like most moms do it sounds like a really good deal to me.

If nothing else it looks like you could flip it for a profit as long as the miles are low (as most leases are.)

3/20/2011 9:14:40 PM