Author Topic: Dealer Lease buyout  (Read 38154 times)

Offline stooges44

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Re: Dealer Lease buyout
« Reply #100 on: November 15, 2020, 07:36:58 PM »
They charge a fee for selling them your car?

A "document" fee. If you've ever tried selling to vroom or carvana, trust me their fee is worth every darn cent.
If it's not free shipping it's not worth it.

Offline elazarmn

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Re: Dealer Lease buyout
« Reply #101 on: November 15, 2020, 09:04:45 PM »
Can i sell my lease before the contract is over?

Offline Pad18

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Re: Dealer Lease buyout
« Reply #102 on: November 15, 2020, 09:05:48 PM »
Can i sell my lease before the contract is over?

Most yes. Some will have a penalty fee ..

Offline elazarmn

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Re: Dealer Lease buyout
« Reply #103 on: November 15, 2020, 09:06:46 PM »
Most yes. Some will have a penalty fee ..
How can i check?

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #104 on: November 15, 2020, 11:21:16 PM »
Yes, ALGO wins. Just sold my 2nd car to them last week.

I had a nightmare with carvana trying to sell a lease to them in the summer, ALGO was a pleasure although their fee went up to 95 from 75  :-\

Took Vroom SIX days from my offer acceptance (and uploading of requested docs) to send me a contract. ALgo- had it within 45 min+-
I guess if Vroom has the highest offer, it may work for some but keep your timeline in mind. And to me, a company with such poor communication (actually zero) raises red flags. There are LOADS of horrendous reviews on Vroom online.

Offline thaber

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Re: Dealer Lease buyout
« Reply #105 on: November 16, 2020, 02:52:32 AM »
Vroom is more yeshivish. But sticks to the quote in my experience.
Best service has been Carmax. In half an hour you have a check in hand. But lately their prices haven't been competitive.
I've sold a number of cars to each. That's been my experience

Offline avromie7

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Re: Dealer Lease buyout
« Reply #106 on: November 16, 2020, 09:44:49 AM »
How can i check?
You're looking for the early buyout price.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline stooges44

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Re: Dealer Lease buyout
« Reply #107 on: November 16, 2020, 10:10:31 AM »
Vroom is more yeshivish. But sticks to the quote in my experience.
Best service has been Carmax. In half an hour you have a check in hand. But lately their prices haven't been competitive.
I've sold a number of cars to each. That's been my experience

Carmax requires you to bring the car to them, time is money, and in my case totally not worth it.
If it's not free shipping it's not worth it.

Offline thaber

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Re: Dealer Lease buyout
« Reply #108 on: November 16, 2020, 10:13:13 AM »
Carmax requires you to bring the car to them, time is money, and in my case totally not worth it.
Obviously that would depend on how far you live from Carmax. There's a world outside of the tri-state

Offline whacked1

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Re: Dealer Lease buyout
« Reply #109 on: November 16, 2020, 12:03:31 PM »
Vroom is more yeshivish. But sticks to the quote in my experience.
Best service has been Carmax. In half an hour you have a check in hand. But lately their prices haven't been competitive.
I've sold a number of cars to each. That's been my experience
FYI algo also has the option to drop off your car by them and get a check on the spot. I went with the pickup option (discussed in the lease thread) and it was super convenient

Offline drosenberg88429

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Re: Dealer Lease buyout
« Reply #110 on: November 16, 2020, 03:25:08 PM »
Does algo stick to quote, or lowers on you?

Offline whacked1

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Re: Dealer Lease buyout
« Reply #111 on: November 16, 2020, 04:44:58 PM »
Does algo stick to quote, or lowers on you?
Once you have the zoom the new number they stick to

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #112 on: November 16, 2020, 06:39:04 PM »
Once you have the zoom the new number they stick to
Correct. It's the initial e-mailed "estimate of value" that they drop down from significantly

Offline crownsbroyal

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Re: Dealer Lease buyout
« Reply #113 on: January 14, 2021, 10:54:11 AM »
Does anyopne know if any of the buy out companies actually buy leases off US bank? I tried with Algo and they told me that US Bank will not deal with them. 

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #114 on: January 14, 2021, 11:23:48 AM »
Does anyopne know if any of the buy out companies actually buy leases off US bank? I tried with Algo and they told me that US Bank will not deal with them.

Tried Vroom or Carvana?

Offline Yehuda57

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Re: Dealer Lease buyout
« Reply #115 on: January 14, 2021, 11:41:18 AM »
Has anyone bought out a lease from someone personally? Is it a stupid idea?
Quote from: ExGingi
Yehuda57 needs to spew a certain amount of sarcasm in order to survive through the day.

Offline lcm

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Re: Dealer Lease buyout
« Reply #116 on: January 14, 2021, 11:44:01 AM »
Has anyone bought out a lease from someone personally? Is it a stupid idea?
I know of someone that did and who they bought it from, but not personally.
I suppose that if the price is decent, you have the advantage of knowing how the last owner took care of the car

Offline avromie7

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Re: Dealer Lease buyout
« Reply #117 on: January 14, 2021, 12:04:33 PM »
Has anyone bought out a lease from someone personally? Is it a stupid idea?
If it's a good deal, no real reason not to.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline crownsbroyal

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Re: Dealer Lease buyout
« Reply #118 on: January 14, 2021, 12:18:34 PM »
If it's a good deal, no real reason not to.
Anyway to do it without double taxation? I was thinking of doing this with a buddy of mine whose lease is ending soon with Toyota.

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #119 on: January 14, 2021, 12:21:28 PM »
Anyway to do it without double taxation? I was thinking of doing this with a buddy of mine whose lease is ending soon with Toyota.
No way out, unless he sells it to a dealer who pays the ban directly.

On that note, a friend of mine was told that ALGO is no longer buying out leased cars directly from the bank.

Anyone else heard of this?