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straight-talk on smart-buy lease balloon payment

11168 Views 12 Replies 9 Participants Last post by  goodwrench1
Can someone please explain the process of buying out a smartbuy lease?

I have a friend with a trailblazer. The vehicle is currently worth about 4,000 less than the balloon payment. It was my understanding that balloon payments can be negotiated. Is this true? My friend wants to buy the car but is not going to pay 4k over what it is worth. Are they better off trading it in and just getting something else? Can they trade it in and then buy it back for a reasonable amount?

Thank you for any input
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So I guess the best bet is getting into a new car instead of overpaying for the current car?
Thanks for all the replies guys. I don't think she had a clue she could have negotiated the balloon payment when she got the car and she is having to deal with the consequences now. I'm going to tell her to just get into another vehicle.
I didn't look at it that does make sense that way I guess thats why the smartbuy leases were so low
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