Author Topic: Dealer Lease buyout  (Read 38158 times)

Offline cozmohoot

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Re: Dealer Lease buyout
« Reply #80 on: November 09, 2020, 10:19:11 PM »
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?
When you call the honda automated system and ask for payoff quote , choose the option as if a dealer is buying the vehicle. The amount should be lower.

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #81 on: November 09, 2020, 10:29:08 PM »
I guess that was during inspection? The OP is taking about a case where they approve the amount during inspection but wants to know if they can change the offer after that. Let's say when they actually come to pick up the vehicle.
Yes, ALgo dropped their offer (sent via e-mail) after doing the inspection. But the appraiser himself said it's brand new cond. But then he came back saying "the market is soft for my specific vehicle". Uhuh.

Offline yossig

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Re: Dealer Lease buyout
« Reply #82 on: November 09, 2020, 11:02:28 PM »
Do you recall roughly how long it took from your acceptance to when they picked up the vehicle? My lease is up the 24th, don't wanna return it too soon  ;)
(Vroom gave me the best offer now vs ALgo and Carvana)
3-5 days.

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #83 on: November 09, 2020, 11:20:29 PM »
3-5 days.

But I have to give some extra time for them to pay off Nissan before the 24th, so I probably need to add a few more days.

Offline yossig

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Re: Dealer Lease buyout
« Reply #84 on: November 09, 2020, 11:27:33 PM »
But I have to give some extra time for them to pay off Nissan before the 24th, so I probably need to add a few more days.
I would start ASAP

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #85 on: November 09, 2020, 11:32:13 PM »
I would start ASAP
Yeah, I already sent in whatever docs they requested at this time.

Offline ilherman

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Re: Dealer Lease buyout
« Reply #86 on: November 10, 2020, 01:34:20 AM »
When you call the honda automated system and ask for payoff quote , choose the option as if a dealer is buying the vehicle. The amount should be lower.
I don't think it's through Honda directly. I think it's through some sort of union bank
You can say what you think when you think what you say.

Offline miles lover

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Re: Dealer Lease buyout
« Reply #87 on: November 10, 2020, 04:09:19 AM »
Yes, ALgo reduced their original offer to me by $1300 for no reason whatsoever. There was no damage... just a sales tactic I guess.
Someone else told me he also had issues with Algo. Vroom seems to be the better option. They usually pay more as well. Besides that vroom is a much bigger company then Algo.

Offline miles lover

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Re: Dealer Lease buyout
« Reply #88 on: November 10, 2020, 01:41:27 PM »
call them. You should get whatever is left after dealer buyout amount.
My Honda account is showing the payment received from vroom is the buyout with the taxes. Is it possible that vroom paid the taxes and didnít get the dealer buyout ?

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #89 on: November 10, 2020, 04:27:14 PM »
3-5 days.
I actually just called Vroom because I never even heard from them! With ALgo, once I put in all my info, they didn't stop, they called, they texted, they e-mailed! With Vroom, I accepted the offer last night, uploaded whatever docs they requested and I never heard anything since.
She told me they verify the docs sent in and then send me a contract to e-sign.

Offline yossig

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Re: Dealer Lease buyout
« Reply #90 on: November 10, 2020, 04:46:55 PM »
My Honda account is showing the payment received from vroom is the buyout with the taxes. Is it possible that vroom paid the taxes and didnít get the dealer buyout ?
everything is possible, PUTPAC

Offline yossig

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Re: Dealer Lease buyout
« Reply #91 on: November 10, 2020, 04:47:57 PM »
I actually just called Vroom because I never even heard from them! With ALgo, once I put in all my info, they didn't stop, they called, they texted, they e-mailed! With Vroom, I accepted the offer last night, uploaded whatever docs they requested and I never heard anything since.
She told me they verify the docs sent in and then send me a contract to e-sign.
I called them to expedite it

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #92 on: November 10, 2020, 04:57:38 PM »
I called them to expedite it
I called them too but she said the next step is I will get a contract e-mailed to me, once they verify the documents I sent (drivers license, registration and odometer read). I didn't ask but she didn't offer any info about expediting.

Offline ~King Lake~

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Re: Dealer Lease buyout
« Reply #93 on: November 11, 2020, 11:19:12 PM »
I called them too but she said the next step is I will get a contract e-mailed to me, once they verify the documents I sent (drivers license, registration and odometer read). I didn't ask but she didn't offer any info about expediting.
HUCA may help
I'm going crazy, wanna come along?

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #94 on: November 12, 2020, 02:27:39 PM »
3-5 days.
It is already 4 days since I accepted their (Vroom) offer submitted the docs they requested! Didn't hear from them once (besides possibly one auto e-mail). I called twice and keep getting told once documents are reviewed, I will receive a contract via e-mail. Yeah, and the clock keeps ticking. And I even thought of buying a van thru them! But I'm reading horrendous reviews on Vroom online (both, on buying and selling to/from them). I'm scared they will mess me up with my lease return (due 11/24).
« Last Edit: November 12, 2020, 02:41:05 PM by Dovdovmoneytree »

Offline avromie7

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Re: Dealer Lease buyout
« Reply #95 on: November 13, 2020, 11:04:27 AM »
It is already 4 days since I accepted their (Vroom) offer submitted the docs they requested! Didn't hear from them once (besides possibly one auto e-mail). I called twice and keep getting told once documents are reviewed, I will receive a contract via e-mail. Yeah, and the clock keeps ticking. And I even thought of buying a van thru them! But I'm reading horrendous reviews on Vroom online (both, on buying and selling to/from them). I'm scared they will mess me up with my lease return (due 11/24).
I wonder if they're pushing you off so by the time they come back with their lowball offer you don't have time to go to someone else.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #96 on: November 13, 2020, 11:59:03 AM »
I wonder if they're pushing you off so by the time they come back with their lowball offer you don't have time to go to someone else.

I already jumped ship. ALgo came up significantly. Please see next post (I want others to read it and benefit)
« Last Edit: November 13, 2020, 12:10:55 PM by Dovdovmoneytree »

Offline Dovdovmoneytree

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Re: Dealer Lease buyout
« Reply #97 on: November 13, 2020, 12:10:41 PM »
To anyone considering transferring their lease to ALgo, Vroom, Carvana etc- I just wanna post my experience. I think there have been varied experiences by DDF members but this was mine. My verdict- stick with ALgo.

ALgo initially sent the highest offer via e-mail, upon inspection they dropped it by $1300 (even though car was amazing cond) saying the "market was soft for my specific vehicle". Uhuh  ::) Sales tactic to get me thru the door.

Waited a month. Put my info in again on all 3- Vroom came in highest. Accepted the offer, uploaded all docs etc. They said next step- a contract will be e-mailed to me. That's been going on for 5 days already! They don't call, never e-mail, nothin! In fact I called them 3 times, get the same shpiel....docs still being reviewed....

 Yesterday, got nervous, decided to reach out to ALgo again. They said they need to do another appraisal. I replied very firmly to please not waste my time if they can't come in very close to their e-mailed offer. Ok, he will speak to his supervisor. Guess what? They came up by $500, by far the highest now. So guys- definitely negotiate and play hardball! Accepted the offer. Within about 45 minutes, I had a contract sent to me to sign. Vroom is still stuck in the same spot!! I don't hear from them, nothing. Communication by ALgo is positively amazing thus far. Will advise how the full process goes down.
« Last Edit: November 13, 2020, 01:31:39 PM by Dovdovmoneytree »

Offline stooges44

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Re: Dealer Lease buyout
« Reply #98 on: November 14, 2020, 11:29:24 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  :-\
If it's not free shipping it's not worth it.

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #99 on: November 15, 2020, 07:18:33 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  :-\
They charge a fee for selling them your car?