Author Topic: Dealer Lease buyout (Read 81921 times)

zevi · « **Reply #160 on:** March 23, 2021, 07:34:59 PM »

Quote from: Saver2000 on March 22, 2021, 08:33:37 AM

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.

Fish Tank · « **Reply #161 on:** March 23, 2021, 07:35:07 PM »

Quote from: avromie7 on March 23, 2021, 07:30:14 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.

Fish Tank · « **Reply #162 on:** March 23, 2021, 07:35:52 PM »

Quote from: zevi on March 23, 2021, 07:34:59 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?

zevi · « **Reply #163 on:** March 23, 2021, 07:41:15 PM »

Quote from: Fish Tank on March 23, 2021, 07:35:52 PM

Thanks. It all went smooth for you?

Yes, very smooth and easy process.

avromie7 · « **Reply #164 on:** March 23, 2021, 08:27:00 PM »

Quote from: Fish Tank on March 23, 2021, 07:35:07 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.

Fish Tank · « **Reply #165 on:** March 23, 2021, 08:44:36 PM »

Quote from: avromie7 on March 23, 2021, 08:27:00 PM

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'm well aware of the state of the current market. Apparently you're not aware of what went on before the market went crazy

Hint: Dealers always get better pricing than the consumer buyout price.

ushdadude · « **Reply #166 on:** March 24, 2021, 01:25:06 PM »

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

whacked1 · « **Reply #167 on:** March 24, 2021, 01:43:05 PM »

Quote from: ushdadude on March 24, 2021, 01:25:06 PM

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?

ushdadude · « **Reply #168 on:** March 24, 2021, 02:40:18 PM »

Quote from: whacked1 on March 24, 2021, 01:43:05 PM

Nissan?

Lincoln

elazarmn · « **Reply #169 on:** March 24, 2021, 02:58:52 PM »

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?

Quote from: ushdadude on March 24, 2021, 01:25:06 PM

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

ushdadude · « **Reply #170 on:** March 24, 2021, 03:15:33 PM »

Quote from: elazarmn on March 24, 2021, 02:58:52 PM

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

elazarmn · « **Reply #171 on:** March 24, 2021, 03:28:38 PM »

Maybe the residual was higher than predicted at the time of lease....

Quote from: ushdadude on March 24, 2021, 03:15:33 PM

my car is clean

yelped · « **Reply #172 on:** March 24, 2021, 03:31:05 PM »

Quote from: ushdadude on March 24, 2021, 01:25:06 PM

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

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.

ushdadude · « **Reply #173 on:** March 24, 2021, 03:31:54 PM »

Quote from: yelped on March 24, 2021, 03:31:05 PM

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.