I though ALGO doesn't do it anymore? They paid the financing company directly, and cut you a check for the remainder?
No, someone making a business buying cars off lease for resale is.
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?
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.
my offer from algo was lower than my buy back price. guy called me 15 seconds after i got instant quote. can't get up to buy back price
Nissan?
Same here although i think its from an accident that happened in the beginning of my lease from a valet guy by a wedding. Is that reported on the car if THEY paid for it via insurance?
my car is clean
Now get a quote from vroom and carvana and pit them against each other.Your buyout price is not the same as the dealer buyout price. You have to get that price. It's lower and your buyout price also includes taxes. They don't pay that.
I'm assuming algo knew that and still didn't want it.
What do you mean? You have to find out the dealer buyout number.
ALGO didn't want it? Or the price they offered wasn't worth it for you?
ah so as long as that number is lower than what they offered i should be good?