Dealer Lease buyout

[mod]

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.

It probably didn't fall because of the scratch. They lowered it because their website is just to get in to talk to them right now.
They did this on cars with no damage at all and claimed that the system doesn't take the current market selling into account.

Either way, get the quotes from the other sites and negotiate them all against each other.
I have had sales to Algo, Carvana and Vroom. All were successful.

[Shmulie]

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.

My car had some significant damage and they came in about 1k less than there original price and then they upped it

[pcgeek]

Carvana: "Please make sure that your plates have been removed so you can notify the DMV that you have sold your vehicle."

Is there any reason/advantage for me to remove the plates if I'm selling a lease to carvana?

[aygart]

Carvana: "Please make sure that your plates have been removed so you can notify the DMV that you have sold your vehicle."

Is there any reason/advantage for me to remove the plates if I'm selling a lease to carvana?

To take it off insurance

[pcgeek]

To take it off insurance

Can't I just call the insurance company and say I no longer lease the car, please remove from my policy?

[aygart]

Can't I just call the insurance company and say I no longer lease the car, please remove from my policy?

Depends on state law

[avromie7]

Can't I just call the insurance company and say I no longer lease the car, please remove from my policy?

In NJ you can, NY you can't.

[pcgeek]

So if I live in NJ there's no benefit of removing the plate?

[mod]

So if I live in NJ there's no benefit of removing the plate?

We'll if the car gets parking tickets it will be your license plate.

[Ver hut gazugt]

In NJ you can, NY you can't.

for ny our insurance allowed us to retroactive take off insurance I think up to a month. And you can also tell them you sent the plates in the mail.

[zagguru]

What’s the best thing to do if you are leasing a new car, and they want to transfer plates, but Vroom wont be able to pick up the car for another week or two? Just leave the old car in the driveway with no plates until they pick it up?

[zagguru]

anyone sell to Vroom recently? how long to get Docusign from uploading ownership docs?

[Saver2000]

What’s the best thing to do if you are leasing a new car, and they want to transfer plates, but Vroom wont be able to pick up the car for another week or two? Just leave the old car in the driveway with no plates until they pick it up?

Doesn't the new car come with temporary plates? They are transferring the plates to prevent that?

To answer your question, you can take it off early as long you don't park it on the street.

[zagguru]

Doesn't the new car come with temporary plates? They are transferring the plates to prevent that?

To answer your question, you can take it off early as long you don't park it on the street.

I dont think they come with temporary plates, they take the plates off your existing cars and put it on new ones. Not to mention the registration of the car is transferred. So the original car will be without a registration. My concern is, if the deal with Vroom goes south, I wont even be able to move the car out of my driveway.

[Saver2000]

I dont think they come with temporary plates, they take the plates off your existing cars and put it on new ones. Not to mention the registration of the car is transferred. So the original car will be without a registration. My concern is, if the deal with Vroom goes south, I wont even be able to move the car out of my driveway.

1) can you ask the new lease place to not deliver your car until your old car is picked up? Or they can drop it off in your driveway, and you won't transfer the registration/plates until vroom picks up the old car.

2) Where are you returning the old car to? Maybe they can come with a tow truck and pick it up. (or with thier dealer plates).

3) you can technically put the plates back on your old car and drive it to the return spot, but it's not advisable since you won't have insurance on the car.

[zagguru]

1) can you ask the new lease place to not deliver your car until your old car is picked up? Or they can drop it off in your driveway, and you won't transfer the registration/plates until vroom picks up the old car.

2) Where are you returning the old car to? Maybe they can come with a tow truck and pick it up. (or with thier dealer plates).

3) you can technically put the plates back on your old car and drive it to the return spot, but it's not advisable since you won't have insurance on the car.

1) I am not sure if they can deliver/complete a lease deal if the car is not registered yet. I'll find out
2) If the Vroom offer doesnt work out and I need to return the old lease car, I would have to drive it to a BMW dealership
3) I can just move the plates to a car that is not registered?

[Saver2000]

1) I am not sure if they can deliver/complete a lease deal if the car is not registered yet. I'll find out
2) If the Vroom offer doesnt work out and I need to return the old lease car, I would have to drive it to a BMW dealership
3) I can just move the plates to a car that is not registered?

2) maybe ask them ask how much they charge to pick up the car.
You can also call a random tow truck company and ask what they charge.

3) I meant you can put the plates on for a day to drive it back, but it's againts the law, and it's stupid bec the car is uninsured and unregistered. I know people that have done it, but I would highly advise againts it.

[mlml]

My car was paid off flawless transaction with ALGO

[simplicity]

Does any one knowHow lease damage waivers work? Does it only go into affect when I’m returning the lease or can I use it and then try to sell it to Algo etc.?

[mod]

Does any one knowHow lease damage waivers work? Does it only go into affect when I’m returning the lease or can I use it and then try to sell it to Algo etc.?

I could be making this all up, but.
Pretty sure it's basically an insurance policy that covers certain damage in case you need to pay when you return.
ALGO will not charge you, so there won't be anything to claim.