Author Topic: Dealer Lease buyout  (Read 16411 times)

Offline mod

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Re: Dealer Lease buyout
« Reply #210 on: April 15, 2021, 08:13:00 PM »
Right but im asking the buyout price doesn’t change based on the vehicles history. Just the market price
Correct.

Offline elazarmn

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Re: Dealer Lease buyout
« Reply #211 on: April 15, 2021, 08:22:57 PM »
Right. What's the question at hand?
Is there any way to get that buyout price lower or to sell it for more?

Offline Ephcc90

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Re: Dealer Lease buyout
« Reply #212 on: April 15, 2021, 08:22:58 PM »
Anyone have experience trying to sell a lease that has a accident reported on it?
Just sold to vroom. The others changed their price once they ran the VIN.

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Re: Dealer Lease buyout
« Reply #213 on: April 15, 2021, 08:26:09 PM »
Is there any way to get that buyout price lower or to sell it for more?
You can try to negotiate their offer, but the buyout was determined when you took the car.

Offline elazarmn

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Re: Dealer Lease buyout
« Reply #214 on: April 15, 2021, 08:28:24 PM »
Just sold to vroom. The others changed their price once they ran the VIN.

Did your car have any damage upon inspection?

Offline Ephcc90

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Re: Dealer Lease buyout
« Reply #215 on: April 15, 2021, 08:31:44 PM »
Did your car have any damage upon inspection?
No. Accident happened a while ago.

Offline ejb123

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Re: Dealer Lease buyout
« Reply #216 on: April 16, 2021, 09:40:44 AM »
Now Vroom and Carvana won't buy your car in the last 60 days of lease not matter what leasing company you leased the car from. I have a lease with Chrysler Capital and they won't provide a formal dealer buyout letter in the last 60 days of the lease even though the difference (as what they told me over the phone) between the buyout that they sent me is that the dealer doesn't pay the taxes. After waiting on hold for over 8 hours, Carvana confirmed that even though I have a personal payoff letter from Chrysler Capital they wont buy my car - even if I told them to pay Chrysler the full price including taxes (ie just give me the net difference assuming they had the pay the taxes). Carvana's suggestion was to extend the lease for two months (I am in my last month) and then they will buy the car on the spot. Chrysler said no extensions being granted unless I have a new Chrysler vehicle on order. If your lease expires in the next 90 days - go to Vroom/Carvana, etc. now and see what the price is to take advantage. In my case - excluding taxes, Carvana and Vroom offered $4500 above my lease buyout price.

Obviously captive leasing companies want to take advantage of the current white hot used car market and not let the consumers take advantage.

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Re: Dealer Lease buyout
« Reply #217 on: April 16, 2021, 09:43:54 AM »
They won't buy or Chrysler won't sell?
I saw this already with US Bank and Ally - they won't sell for the buyout price to a third party.

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #218 on: April 16, 2021, 09:46:08 AM »
Obviously captive leasing companies want to take advantage of the current white hot used car market and not let the consumers take advantage.
They aren't againts the consumer making money. It's that they also need the car just as badly as carvana wants it. There's a shortage, and they want you to return it as opposed to buying it out. (they can't prevent you from buying it out, but they can prevent you from selling directly to a 3rd party by not cooperating with them)

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Re: Dealer Lease buyout
« Reply #219 on: April 16, 2021, 09:46:58 AM »
@ejb123
Did you try ALGO?

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Re: Dealer Lease buyout
« Reply #220 on: April 16, 2021, 09:50:41 AM »
@ejb123
Did you try ALGO?
He made it seem like it is Chrysler that will not sell it for the buyout price, not Carvana or Vroom.

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Re: Dealer Lease buyout
« Reply #221 on: April 16, 2021, 09:55:19 AM »
He made it seem like it is Chrysler that will not sell it for the buyout price, not Carvana or Vroom.

Right. ALGO may be willing to pay the penalty fee.


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Re: Dealer Lease buyout
« Reply #222 on: April 16, 2021, 09:58:13 AM »
Right. ALGO may be willing to pay the penalty fee.

Do you know what the penalty is? I know that Ally was trying to sell to a third party for market price, which was well above the offer from Algo.
If you try Algo, try Rodo also to get another comp.

Offline ejb123

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Re: Dealer Lease buyout
« Reply #223 on: April 16, 2021, 10:28:51 AM »
He made it seem like it is Chrysler that will not sell it for the buyout price, not Carvana or Vroom.

Chrysler would sell to me at my price or the dealer less the taxes (per the phone call) - but they won't send a formal written payoff notice without the taxes, and Carvana and Vroom won't buy without the formal dealer payoff. I haven't tried Algo, but RODO offered to buy and would only give me the difference between their offer price and the payoff including the taxes.


Offline ejb123

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Re: Dealer Lease buyout
« Reply #224 on: April 16, 2021, 10:29:29 AM »
Right. ALGO may be willing to pay the penalty fee.

It isn't a penalty fee - it is sales tax that is due if I buy the car but not due if a dealer buys the car.