Author Topic: Dealer Lease buyout  (Read 12050 times)

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #60 on: November 08, 2020, 11:33:17 PM »
He probably means you will pay the dealer less.
Got it. It's true that dealer pays less, but that doesn't leave you with more. It's leaves them with more.

If they quote is higher than your payoff amount, you keep the difference. Once they take the car, they negotiate a lower price with the bank. The new lower rate has no effect on your wallet.

Offline yossig

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Re: Dealer Lease buyout
« Reply #61 on: November 09, 2020, 12:00:35 AM »
Got it. It's true that dealer pays less, but that doesn't leave you with more. It's leaves them with more.

If they quote is higher than your payoff amount, you keep the difference. Once they take the car, they negotiate a lower price with the bank. The new lower rate has no effect on your wallet.
-1
They pay YOU the price you agreed on, they deduct the pay off amount due to the title holder and that is mailed directly to them.
The reason a dealer pays less is because he doesnít pay sales tax.

Offline AsherO

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Re: Dealer Lease buyout
« Reply #62 on: November 09, 2020, 12:02:26 AM »
Got it. It's true that dealer pays less, but that doesn't leave you with more. It's leaves them with more.

If they quote is higher than your payoff amount, you keep the difference. Once they take the car, they negotiate a lower price with the bank. The new lower rate has no effect on your wallet.

How do they negotiate with the bank? What leverage do they have?

Offline yossig

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Re: Dealer Lease buyout
« Reply #63 on: November 09, 2020, 12:05:25 AM »
How do they negotiate with the bank? What leverage do they have?
they donít.

Offline Pad18

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Re: Dealer Lease buyout
« Reply #64 on: November 09, 2020, 12:06:19 AM »
How do they negotiate with the bank? What leverage do they have?

Dealer do not have any negotiate with banks ! They received a payoff amount that the bank decided based on a few factor.
The difference between the 2 payoff is no sales tax and processing fee that usually a private person will have

Offline ilherman

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Re: Dealer Lease buyout
« Reply #65 on: November 09, 2020, 01:39:03 AM »
Thanks guys! My payoff amount is about 28k and they offer about 32k!

Someone here mentioned that some companies don't do inspection. How does it work? Not even virtual inspection? No pictures? How do they know that the car is the condition it's described in?
You can say what you think when you think what you say.

Offline miles lover

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Dealer Lease buyout
« Reply #66 on: November 09, 2020, 02:00:11 AM »
Thanks guys! My payoff amount is about 28k and they offer about 32k!

Someone here mentioned that some companies don't do inspection. How does it work? Not even virtual inspection? No pictures? How do they know that the car is the condition it's described in?
Vroom didnít do an inspection by me. When they picked up my car they took a few pics and that was it. I had a decent dent on my bumper and they didnít deduct any money.
 Btw algo and vroom both came back to me with a higher offer then what was first quoted, after ignoring both of them for a few days.
« Last Edit: November 09, 2020, 02:04:14 AM by miles lover »

Offline miles lover

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Re: Dealer Lease buyout
« Reply #67 on: November 09, 2020, 02:02:37 AM »
-1
They pay YOU the price you agreed on, they deduct the pay off amount due to the title holder and that is mailed directly to them.
The reason a dealer pays less is because he doesnít pay sales tax.
I got paid from vroom the quote they gave me minus the customer buyout . I thought I would get the quote minus the dealer buyout. (Buyout minus taxes )They get to keep that difference ?

Offline AsherO

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Re: Dealer Lease buyout
« Reply #68 on: November 09, 2020, 08:22:22 AM »
Btw algo and vroom both came back to me with a higher offer then what was first quoted, after ignoring both of them for a few days.

Great data point because if youíre not in a big rush then itís worth waiting a week or so to see if you get this as well.

Offline yossig

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Re: Dealer Lease buyout
« Reply #69 on: November 09, 2020, 08:42:13 AM »
I got paid from vroom the quote they gave me minus the customer buyout . I thought I would get the quote minus the dealer buyout. (Buyout minus taxes )They get to keep that difference ?
call them. You should get whatever is left after dealer buyout amount.

Offline yossig

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Re: Dealer Lease buyout
« Reply #70 on: November 09, 2020, 08:42:53 AM »
Great data point because if youíre not in a big rush then itís worth waiting a week or so to see if you get this as well.
I think everyone gets it.

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #71 on: November 09, 2020, 08:47:25 AM »
-1
They pay YOU the price you agreed on, they deduct the pay off amount due to the title holder and that is mailed directly to them.
The reason a dealer pays less is because he doesnít pay sales tax.
Are you sure the listed buy out price includes sales tax?

Offline Pad18

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Re: Dealer Lease buyout
« Reply #72 on: November 09, 2020, 08:52:10 AM »
Are you sure the listed buy out price includes sales tax?
Private, yes.

Offline Josef.koney

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Re: Dealer Lease buyout
« Reply #73 on: November 09, 2020, 09:09:48 AM »
This is awesome! Sadly I just spent about 4k fixing up my lease in August!

Offline nafnaf12

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Re: Dealer Lease buyout
« Reply #74 on: November 09, 2020, 07:22:13 PM »
If algo missed a few nice dents during the inspection (car was dusty and old phone camera) will they charge you after picking up/receiving the car?
A smooth sea never made a skilled sailor.