Author Topic: Dealer Lease buyout  (Read 38156 times)

Offline ilherman

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Re: Dealer Lease buyout
« Reply #120 on: February 03, 2021, 06:50:25 PM »
I called affinity credit union where I pay my lease every month and they said that my lease is paid up. I'm supposed to return my lease in 2 weeks. Does that make sense?

Then they said that something that Fusion is holding the lease. Does anyone know what they are talking about?

Also, I saw people mentioning that some banks don't deal with algo etc. What does this mean? Is it up to the bank if they want to sell it or not? I thought that anyone can pay it off.
You can say what you think when you think what you say.

Offline whacked1

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Re: Dealer Lease buyout
« Reply #121 on: February 03, 2021, 06:54:33 PM »
I called affinity credit union where I pay my lease every month and they said that my lease is paid up. I'm supposed to return my lease in 2 weeks. Does that make sense?

Then they said that something that Fusion is holding the lease. Does anyone know what they are talking about?

Also, I saw people mentioning that some banks don't deal with algo etc. What does this mean? Is it up to the bank if they want to sell it or not? I thought that anyone can pay it off.
Perhaps dealing with dealers

Offline ilherman

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Re: Dealer Lease buyout
« Reply #122 on: February 06, 2021, 07:35:20 PM »
I got a quote from vroom on Thursday night and uploaded my docs. Friday morning I got some docs to sign online. I got an email that they are going to FedEx me some more paperwork with tracking info. It's supposed to arrive Monday. So far seems like a very easy process!
You can say what you think when you think what you say.

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #123 on: February 06, 2021, 07:37:39 PM »
I got a quote from vroom on Thursday night and uploaded my docs. Friday morning I got some docs to sign online. I got an email that they are going to FedEx me some more paperwork with tracking info. It's supposed to arrive Monday. So far seems like a very easy process!
No virtual inspection?

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #124 on: February 06, 2021, 07:40:10 PM »
Also, I saw people mentioning that some banks don't deal with algo etc. What does this mean? Is it up to the bank if they want to sell it or not? I thought that anyone can pay it off.
If the dealer buys it directly from the bank, they negotiate a better price, and they don't pay sales tax.

If you buy it out, you'll need to pay the full buyout price + sales tax.



Offline ilherman

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Re: Dealer Lease buyout
« Reply #125 on: February 06, 2021, 07:57:43 PM »
No virtual inspection?
No virtual inspection.
If the dealer buys it directly from the bank, they negotiate a better price, and they don't pay sales tax.

If you buy it out, you'll need to pay the full buyout price + sales tax.



my buyout price was 26.5k for the dealer the price is 28.5.  For me they are obligated to sell it at the residual value. But for third party they can charge whatever they want. And it's usually higher.
You can say what you think when you think what you say.

Offline avromie7

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Re: Dealer Lease buyout
« Reply #126 on: February 08, 2021, 11:20:07 AM »
No virtual inspection. my buyout price was 26.5k for the dealer the price is 28.5.  For me they are obligated to sell it at the residual value. But for third party they can charge whatever they want. And it's usually higher.
I'm not familiar, but presumably they sell it to the dealer based on what they believe they can get at auction. If the car is worth less than the residual they'll sell it to the dealer for less, nowadays cars are very expensive so the residual is often lower than the auction value.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline zagguru

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Any recommendations for a company that buys cars at lease end?
« Reply #127 on: March 21, 2021, 09:47:16 PM »
I have two leases ending next month. Anyone know anyone that will buys cars and pays the payoff? Aside from Carvana and Vroom..

Offline shmebeble

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Re: Any recommendations for a company that buys cars at lease end?
« Reply #128 on: March 21, 2021, 10:18:47 PM »
I have two leases ending next month. Anyone know anyone that will buys cars and pays the payoff? Aside from Carvana and Vroom..
what cars?

Offline yelped

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Re: Any recommendations for a company that buys cars at lease end?
« Reply #129 on: March 21, 2021, 10:59:51 PM »
I have two leases ending next month. Anyone know anyone that will buys cars and pays the payoff? Aside from Carvana and Vroom..
Algo. You can pit all 3 companies against each other.

Offline ushdadude

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Re: Dealer Lease buyout
« Reply #130 on: March 22, 2021, 12:01:51 AM »
This is all new to me. So when my lease is about to end, instead of training it I contact these companies and profit?
Trolls will always post stupid replies

Offline myi

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Re: Dealer Lease buyout
« Reply #131 on: March 22, 2021, 12:24:33 AM »
This is all new to me. So when my lease is about to end, instead of training it I contact these companies and profit?
Indeed.
 You can read through this thread. And or ..
https://forums.dansdeals.com/index.php?topic=2990.0
Don't try to be someone else , be who you are because everyone else is taken.

Offline zevi

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Re: Dealer Lease buyout
« Reply #132 on: March 22, 2021, 12:31:06 AM »
This is all new to me. So when my lease is about to end, instead of training it I contact these companies and profit?
I just did it with Algo, you can pm with any questions.

Offline zagguru

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Re: Any recommendations for a company that buys cars at lease end?
« Reply #133 on: March 22, 2021, 08:22:16 AM »
what cars?

BMW 430xi and Land Rover Evoque

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #134 on: March 22, 2021, 08:33:37 AM »
I just did it with Algo, you can pm with any questions.
I though ALGO doesn't do it anymore? They paid the financing company directly, and cut you a check for the remainder?

Offline jaywhy

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Re: Dealer Lease buyout
« Reply #135 on: March 22, 2021, 08:43:15 AM »
I had a terrible experience dealing with Carvana trying to complete a lease buyout this past summer.
Just back and forth and nobody had any clue what was flying. Didnít end up working out.

Offline ushdadude

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Re: Dealer Lease buyout
« Reply #136 on: March 22, 2021, 09:41:08 AM »
Indeed.
 You can read through this thread. And or ..
https://forums.dansdeals.com/index.php?topic=2990.0
Thanks. So what's the timeline? After last payment but before car return?
Trolls will always post stupid replies

Offline yelped

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Re: Dealer Lease buyout
« Reply #137 on: March 22, 2021, 10:26:48 AM »
Thanks. So what's the timeline? After last payment but before car return?
Whenever you want.

Offline ushdadude

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Re: Dealer Lease buyout
« Reply #138 on: March 22, 2021, 10:56:15 AM »
Whenever you want.
i thought i read that there can be an early termination fee if you do it too early
Trolls will always post stupid replies

Offline zevi

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Re: Dealer Lease buyout
« Reply #139 on: March 22, 2021, 11:12:16 AM »
I though ALGO doesn't do it anymore? They paid the financing company directly, and cut you a check for the remainder?
Yes thatís what they claim. They should be picking up the car tomorrow. Iíll report back.