Author Topic: Dealer Lease buyout  (Read 15798 times)

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Feb 2012
  • Posts: 547
  • Total likes: 54
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: Dealer Lease buyout
« Reply #150 on: March 22, 2021, 05:21:45 PM »
that's what is usually done for me but i don't know the process.
It's not complicated.

When the tow truck shows up, unscrew the plates, and call insurance to remove the vehicle from your policy. That's all.

Offline elazarmn

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Mar 2016
  • Posts: 422
  • Total likes: 42
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: kings County
Re: Dealer Lease buyout
« Reply #151 on: March 22, 2021, 05:53:22 PM »
that's what is usually done for me but i don't know the process.


good thing ya ask :)

Online ushdadude

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Apr 2013
  • Posts: 4857
  • Total likes: 215
  • DansDeals.com Hat Tips 5
    • View Profile
  • Location: Long Island
Re: Dealer Lease buyout
« Reply #152 on: March 22, 2021, 09:37:47 PM »
I just realized, this must be what many leasing companies do with your car when you get a new one. They "take care of it" for you
Trolls will always post stupid replies

Online EliJelly

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2019
  • Posts: 1340
  • Total likes: 863
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Dealer Lease buyout
« Reply #153 on: March 23, 2021, 12:22:28 AM »
I just realized, this must be what many leasing companies do with your car when you get a new one. They "take care of it" for you
Good morning America

Offline myi

  • Dansdeals Lifetime 20K Presidential Platinum Elite
  • ********
  • Join Date: Feb 2015
  • Posts: 20772
  • Total likes: 1576
  • DansDeals.com Hat Tips 312
  • Gender: Male
    • View Profile
  • Location: InMyPants! 🙈
  • Programs: 2Many2List!
Re: Dealer Lease buyout
« Reply #154 on: March 23, 2021, 03:04:54 AM »
I just realized, this must be what many leasing companies do with your car when you get a new one. They "take care of it" for you
A dealer, any of these frum ones out there, take the car and try to resell it.
 Nice market out there.
 Decent business to go into.
Don't try to be someone else , be who you are because everyone else is taken.

Online avromie7

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Feb 2014
  • Posts: 6522
  • Total likes: 1121
  • DansDeals.com Hat Tips 6
    • View Profile
  • Location: Lakewood
Re: Dealer Lease buyout
« Reply #155 on: March 23, 2021, 06:38:01 AM »
A dealer, any of these frum ones out there, take the car and try to resell it.
 Nice market out there.
 Decent business to go into.
you're competing against algo etc., and you can't expect it to be a good business long term.
I wonder what people who type "u" instead of "you" do with all their free time.

Online ushdadude

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Apr 2013
  • Posts: 4857
  • Total likes: 215
  • DansDeals.com Hat Tips 5
    • View Profile
  • Location: Long Island
Re: Dealer Lease buyout
« Reply #156 on: March 23, 2021, 08:28:17 AM »
Good morning America
Lol. I always wondered how they sustain themselves. It can't be from the measly commission they get for leasing a car
Trolls will always post stupid replies

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Feb 2012
  • Posts: 547
  • Total likes: 54
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: Dealer Lease buyout
« Reply #157 on: March 23, 2021, 07:27:47 PM »
Good morning America
+1

you're competing against algo etc., and you can't expect it to be a good business long term.
Huh? Local used dealers are competing with ALGO?

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Feb 2012
  • Posts: 547
  • Total likes: 54
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: Dealer Lease buyout
« Reply #158 on: March 23, 2021, 07:29:26 PM »
I just realized, this must be what many leasing companies do with your car when you get a new one. They "take care of it" for you
I was told they do this with the damage waiver as well. It's "self funded" , and many times they don't need to fix the damage. . .

Online avromie7

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Feb 2014
  • Posts: 6522
  • Total likes: 1121
  • DansDeals.com Hat Tips 6
    • View Profile
  • Location: Lakewood
Re: Dealer Lease buyout
« Reply #159 on: March 23, 2021, 07:30:14 PM »
+1
Huh? Local used dealers are competing with ALGO?
No, someone making a business buying cars off lease for resale is.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline zevi

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Jul 2014
  • Posts: 725
  • Total likes: 34
  • DansDeals.com Hat Tips 2
    • View Profile
Re: Dealer Lease buyout
« Reply #160 on: March 23, 2021, 07:34:59 PM »
I though ALGO doesn't do it anymore? They paid the financing company directly, and cut you a check for the remainder?
When they pickup the car, they come with a check for the remainder, and a receipt that the bank was paid.

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Feb 2012
  • Posts: 547
  • Total likes: 54
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: Dealer Lease buyout
« Reply #161 on: March 23, 2021, 07:35:07 PM »
No, someone making a business buying cars off lease for resale is.
How so? That's what all the local used car places do. Many of the cars they sell are lease returns.

 

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Feb 2012
  • Posts: 547
  • Total likes: 54
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Re: Dealer Lease buyout
« Reply #162 on: March 23, 2021, 07:35:52 PM »
When they pickup the car, they come with a check for the remainder, and a receipt that the bank was paid.
Thanks. It all went smooth for you?

Offline zevi

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Jul 2014
  • Posts: 725
  • Total likes: 34
  • DansDeals.com Hat Tips 2
    • View Profile
Re: Dealer Lease buyout
« Reply #163 on: March 23, 2021, 07:41:15 PM »
Thanks. It all went smooth for you?
Yes, very smooth and easy process.

Online avromie7

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Feb 2014
  • Posts: 6522
  • Total likes: 1121
  • DansDeals.com Hat Tips 6
    • View Profile
  • Location: Lakewood
Re: Dealer Lease buyout
« Reply #164 on: March 23, 2021, 08:27:00 PM »
How so? That's what all the local used car places do. Many of the cars they sell are lease returns.
In a normal market, the buyout price more than it's worth. The dealer sells the car at auction for whatever they can get for it regardless of the "buyout price". The local used car dealer buys the cars at those auctions. The only reason so many people can make money selling their leases is because used car prices are so high.
I wonder what people who type "u" instead of "you" do with all their free time.