So my lease is up in December '07, and my buyout price from GMAC is something ridiculous. (Close to $22k) I want to keep the car, but not at that price. I understand that GMAC will no longer negotiate on the buyouts, and that you basically pay the price or turn it in, and they pick it up from the dealer and take it to auction. My question is for those of you who work at the dealers.
When GMAC picks up a lease turn-in at your lot, is there a way to track where they’re taking it? I know people with a license to buy at auction, and my plan is to find out where and when it goes to auction, go there with them, and buy it back. I’d also be willing to try and cut a deal with the dealer where I turn it in to let them buy me back the car at auction if they’d do it reasonably, but they’d probly charge me a couple thousand markup. I’ve heard rumors of GMAC offering the dealer a lower buyout price on returns that they want to sell on their lot. Anyone care to enlighten me?