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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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I also did a Smart Buy 4 yrs ago and I have less than a month to decide what to do. The problem that I have is that I didn't understand the SmartBuy when I did it, I'm well over my miles, and my EQUINOX is nowhere worth what my balloon payment is. I also have a huge issue with the car which is the heat. I hate this car. I honestly do. What my question is, if I decide to return the car and pay for the mileage, will GM allow me to make payments on what I owe on that mileage? A salesman told me that I could. I wanted another opinion.

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