Author Topic: Dealer Lease buyout  (Read 80610 times)

Offline Shmulie

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Dec 2013
  • Posts: 1529
  • Total likes: 526
  • DansDeals.com Hat Tips 4
  • Gender: Male
    • View Profile
  • Location: Brooklyn
Re: Dealer Lease buyout
« Reply #280 on: May 07, 2021, 01:55:31 PM »
If you read through the thread, you'll see that ALGO has been the most consistent when it comes to sticking to thier original quote.

Vroom, not so much.

I just tried algo it took like less than 2 minutes and it didn't ask for anything about the car or the condition, just the plate number, confirm it's the right car and the mileage.

Offline mod

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Aug 2012
  • Posts: 797
  • Total likes: 16
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Dealer Lease buyout
« Reply #281 on: May 07, 2021, 01:57:52 PM »
I just tried algo it took like less than 2 minutes and it didn't ask for anything about the car or the condition, just the plate number, confirm it's the right car and the mileage.
ALGO does virtual inspection and then they will give you a lower price.
They will tell you that the online system doesn't take the market into condition.
I think people mean that once they give you the quote on the car after the inspection they will not change.

Offline Saver2000

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Apr 2011
  • Posts: 7660
  • Total likes: 47
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Dealer Lease buyout
« Reply #282 on: May 07, 2021, 02:03:22 PM »
I think people mean that once they give you the quote on the car after the inspection they will not change.
Right.

As opposed to vroom who has changed thier price when the tow truck showed up.

Offline Saver2000

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Apr 2011
  • Posts: 7660
  • Total likes: 47
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Dealer Lease buyout
« Reply #283 on: May 07, 2021, 02:03:37 PM »
I just tried algo it took like less than 2 minutes and it didn't ask for anything about the car or the condition, just the plate number, confirm it's the right car and the mileage.
👍

Offline mod

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Aug 2012
  • Posts: 797
  • Total likes: 16
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Dealer Lease buyout
« Reply #284 on: May 07, 2021, 02:04:26 PM »
Right.

As opposed to vroom who has changed thier price when the tow truck showed up.

I did not have that experience. I had put in average condition (the car was in very good condition).

Offline mlml

  • Dansdeals Bronze Elite
  • *
  • Join Date: Dec 2015
  • Posts: 30
  • Total likes: 3
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Dealer Lease buyout
« Reply #285 on: May 07, 2021, 02:07:17 PM »
I didn't read through the whole thread but I see most people were saying to go with carvana or vroom is algo comparable amount wise?

The car has quite a bit of damage but it's super low mileage only 13,000 after 39 months with carvana and vroom it looks like it should be about $3,000 more than my buyout price


My quotes were all pretty similar. Algo did not change price after the inspection also the dealer buyout price is at least 1500 less than the one you see since they pay less taxes

Offline Saver2000

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Apr 2011
  • Posts: 7660
  • Total likes: 47
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Dealer Lease buyout
« Reply #286 on: May 07, 2021, 02:09:24 PM »
I did not have that experience. I had put in average condition (the car was in very good condition).
I didn't say everyone had that experience. I said it's been reported many times to happen with vroom, but never with ALGO.

Offline Saver2000

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Apr 2011
  • Posts: 7660
  • Total likes: 47
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Dealer Lease buyout
« Reply #287 on: May 07, 2021, 02:10:18 PM »

My quotes were all pretty similar. Algo did not change price after the inspection also the dealer buyout price is at least 1500 less than the one you see since they pay less taxes
You sure the buyout price includes tax?
... They get it cheaper for other reasons.

Offline mod

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Aug 2012
  • Posts: 797
  • Total likes: 16
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Dealer Lease buyout
« Reply #288 on: May 07, 2021, 02:10:42 PM »

My quotes were all pretty similar. Algo did not change price after the inspection also the dealer buyout price is at least 1500 less than the one you see since they pay less taxes

Buyout price should be residual value + your remaining payments.

And negotiate with each company, they will usually go higher.

Offline mod

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Aug 2012
  • Posts: 797
  • Total likes: 16
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Dealer Lease buyout
« Reply #289 on: May 07, 2021, 02:11:19 PM »
You sure the buyout price includes tax?
... They get it cheaper for other reasons.
I always thought that difference was the sales tax.

Offline mlml

  • Dansdeals Bronze Elite
  • *
  • Join Date: Dec 2015
  • Posts: 30
  • Total likes: 3
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Dealer Lease buyout
« Reply #290 on: May 07, 2021, 02:11:50 PM »
You sure the buyout price includes tax?
... They get it cheaper for other reasons.

could be I am far from an expert

Online yelped

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2015
  • Posts: 10465
  • Total likes: 3824
  • DansDeals.com Hat Tips 43
    • View Profile
Re: Dealer Lease buyout
« Reply #291 on: May 07, 2021, 02:19:19 PM »
I always thought that difference was the sales tax.
It's part or all of the difference. Depends on the situation.

Offline Shmulie

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Dec 2013
  • Posts: 1529
  • Total likes: 526
  • DansDeals.com Hat Tips 4
  • Gender: Male
    • View Profile
  • Location: Brooklyn
Re: Dealer Lease buyout
« Reply #292 on: May 07, 2021, 05:28:14 PM »
I just tried algo it took like less than 2 minutes and it didn't ask for anything about the car or the condition, just the plate number, confirm it's the right car and the mileage.

So I just did the video inspection and I made sure to point out all the damage. They called me back about 20 minutes later with a higher offer then both Carvana and Vroom. I told them I need to think about it especially since I haven't picked out my next lease, they then asked if there was a number that they came back with that I would have said yes to right now and I told them $1,000 - $1,500 higher and I would be pretty sure and the guy said he would speak to his team and see if he can do that for me. He then called back about a half hour later and said they were able to do the $1,000 more.

FYI the offer only lasts 3 days but after you accept, it takes about 5 days to process it and then you have 10 days to schedule it to be picked up.

Offline whacked1

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Oct 2012
  • Posts: 2556
  • Total likes: 518
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Dealer Lease buyout
« Reply #293 on: May 07, 2021, 05:46:56 PM »
So I just did the video inspection and I made sure to point out all the damage. They called me back about 20 minutes later with a higher offer then both Carvana and Vroom. I told them I need to think about it especially since I haven't picked out my next lease, they then asked if there was a number that they came back with that I would have said yes to right now and I told them $1,000 - $1,500 higher and I would be pretty sure and the guy said he would speak to his team and see if he can do that for me. He then called back about a half hour later and said they were able to do the $1,000 more.

FYI the offer only lasts 3 days but after you accept, it takes about 5 days to process it and then you have 10 days to schedule it to be picked up.
Algo cares less about the condition as the pickup guy does not work for algo rather a towing company. He only checked the mileage IME

Offline Saver2000

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Apr 2011
  • Posts: 7660
  • Total likes: 47
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Dealer Lease buyout
« Reply #294 on: May 07, 2021, 05:54:03 PM »
Algo cares less about the condition as the pickup guy does not work for algo rather a towing company. He only checked the mileage IME
Lol. You know that doesn't really make any sense, right?

Offline whacked1

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Oct 2012
  • Posts: 2556
  • Total likes: 518
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Dealer Lease buyout
« Reply #295 on: May 07, 2021, 06:37:44 PM »
Lol. You know that doesn't really make any sense, right?
I can only speak of my experience. He did NOT walk around the car. There were some decent scratches that I was nervous about.

He got into the car, checked mileage and handed me a check.

Offline Yikes2179

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Apr 2013
  • Posts: 633
  • Total likes: 137
  • DansDeals.com Hat Tips 2
    • View Profile
Re: Dealer Lease buyout
« Reply #296 on: May 07, 2021, 06:42:27 PM »
Lol. You know that doesn't really make any sense, right?
He doesn't mean that algo doesn't care - he means that the pickup is done by a trucking company - he won't be looking at the condition of the car which was my experience as well

Offline pcgeek

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Dec 2013
  • Posts: 1010
  • Total likes: 62
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
  • Location: פֹּה
Re: Dealer Lease buyout
« Reply #297 on: May 11, 2021, 08:33:19 AM »
Will carvana buy directly from the dealer for the dealer buyout price or do I have to buy it out at the (higher) consumer buyout price? Nobody is answering my texts and the hold time is several hours

Offline sillypainter

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2012
  • Posts: 2068
  • Total likes: 200
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
Re: Dealer Lease buyout
« Reply #298 on: May 11, 2021, 09:08:49 AM »
Tried selling to Algo. They gave me a price online, then after the video call the price fell by 3K because of a small scratch. Don't fall for the initial quote they give you.

Offline mod

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Aug 2012
  • Posts: 797
  • Total likes: 16
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Dealer Lease buyout
« Reply #299 on: May 11, 2021, 09:12:07 AM »
Will carvana buy directly from the dealer for the dealer buyout price or do I have to buy it out at the (higher) consumer buyout price? Nobody is answering my texts and the hold time is several hours
In most cases yes, they will buy it directly from the financing company.