Author Topic: Dealer Lease buyout  (Read 24874 times)

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #360 on: May 25, 2021, 07:20:54 PM »
Most people don't know how leases work. There is the Purchase price, then there is the buyout price once the lease over. Lets say the purchase price is $30K, and the vehicle is worth $15K in 36 months. They lend you that 15K and divide it in 36 monthly payments, that is what you pay for the lease every month.
Its not easy to understand when you use an example with 15 and 15. Can you post again with 17 and 13.

Offline boro boy

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Re: Dealer Lease buyout
« Reply #361 on: May 25, 2021, 07:56:19 PM »
Its not easy to understand when you use an example with 15 and 15. Can you post again with 17 and 13.
or maybe 18/12!
👆hit the like button :-)

Offline aygart

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Re: Dealer Lease buyout
« Reply #362 on: May 25, 2021, 08:04:24 PM »
Most people don't know how leases work. There is the Purchase price, then there is the buyout price once the lease over. Lets say the purchase price is $30K, and the vehicle is worth $15K in 36 months. They lend you that 15K and divide it in 36 monthly payments, that is what you pay for the lease every month.
Sort of. That is the principal that needs to be repaid. Tyou pay interest on the entire amount.
Feelings don't care about your facts

Offline shmebeble

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Re: Dealer Lease buyout
« Reply #363 on: May 25, 2021, 08:13:32 PM »
Sort of. That is the principal that needs to be repaid. Tyou pay interest on the entire amount.
The interest is the Mf= Money factor
Other numbers that matter is whatever else is being rolled into the lease such as taxes, bank fee, DMV fees etc. Discounts or added dealership fees also play a roll. You can have a car with MSRP $50k and residual value of $30k with a huge range of monthly prices. Probably none of them will add up to exactly $20k.

Offline aygart

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Re: Dealer Lease buyout
« Reply #364 on: May 25, 2021, 08:15:46 PM »
The interest is the Mf= Money factor
Other numbers that matter is whatever else is being rolled into the lease such as taxes, bank fee, DMV fees etc. Discounts or added dealership fees also play a roll. You can have a car with MSRP $50k and residual value of $30k with a huge range of monthly prices. Probably none of them will add up to exactly $20k.

No way for it to with an interest rate above zero.
Feelings don't care about your facts

Online Shmulie

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Re: Dealer Lease buyout
« Reply #365 on: May 25, 2021, 08:17:05 PM »
This website has a lot of good information about how leasing works https://leasehackr.com/

Online Ver hut gazugt

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Re: Dealer Lease buyout
« Reply #366 on: May 25, 2021, 09:15:47 PM »
Iím with Nissan and was told they canít do it and Nissan finance said they donít make exceptions, they only do a buyout to the leasee. Even if I buyout and sell and pay the taxes algo told me it takes 6-8 weeks to get the title and they canít buy it from me until I have the title. Any way around this? Do any Nissan dealerships pay more than the contract says?

Not sure how it works but maybe they want to make the extra cash...

Offline whacked1

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Re: Dealer Lease buyout
« Reply #367 on: May 25, 2021, 09:25:42 PM »
Not sure how it works but maybe they want to make the extra cash...
They dont make extra money when you pay taxes

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #368 on: May 25, 2021, 09:31:41 PM »
They dont make extra money when you pay taxes
1) the dealer gets a better price than you get.

2) if they get the car back, they sell it for a profit. If you sell elsewhere, they lose that profit.

Offline ben6952

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Re: Dealer Lease buyout
« Reply #369 on: May 26, 2021, 07:48:56 PM »
Iím using one of the companies to buy out my lease. They told me that they will pick up the car from me and within 7 business days theyíll have completed the buyout punt will send me the difference between the quote they gave me and the buyout. This is my first time doing this and I have one concern. How do I know once the car is picked up that they just wonít just walk off with it without buying it out and reimbursing me. Thanks

Offline shmebeble

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Re: Dealer Lease buyout
« Reply #370 on: May 26, 2021, 08:11:09 PM »
Iím using one of the companies to buy out my lease. They told me that they will pick up the car from me and within 7 business days theyíll have completed the buyout punt will send me the difference between the quote they gave me and the buyout. This is my first time doing this and I have one concern. How do I know once the car is picked up that they just wonít just walk off with it without buying it out and reimbursing me. Thanks
If they are a reputable company

Online Shmulie

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Re: Dealer Lease buyout
« Reply #371 on: May 26, 2021, 08:37:04 PM »
Iím using one of the companies to buy out my lease. They told me that they will pick up the car from me and within 7 business days theyíll have completed the buyout punt will send me the difference between the quote they gave me and the buyout. This is my first time doing this and I have one concern. How do I know once the car is picked up that they just wonít just walk off with it without buying it out and reimbursing me. Thanks

From what I heard some companies will give you a check when they pick up the car

Offline mod

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Re: Dealer Lease buyout
« Reply #372 on: May 26, 2021, 08:55:25 PM »
From what I heard some companies will give you a check when they pick up the car
Carvana and Algo give you check on the spot.
Vroom deposited my check a few days later.
If you want to be nervous about anything, honestly, I'd be more concerned with them not paying the car off.

Offline ben6952

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Re: Dealer Lease buyout
« Reply #373 on: May 26, 2021, 09:00:13 PM »
Carvana and Algo give you check on the spot.
Vroom deposited my check a few days later.
If you want to be nervous about anything, honestly, I'd be more concerned with them not paying the car off.
This is what Iím concerned about.

Offline mod

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Re: Dealer Lease buyout
« Reply #374 on: May 26, 2021, 09:02:34 PM »
This is what Iím concerned about.
I've dealt with all 3. Everything went great.

Offline whacked1

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Re: Dealer Lease buyout
« Reply #375 on: May 27, 2021, 12:33:23 PM »
Carvana and Algo give you check on the spot.
Vroom deposited my check a few days later.
If you want to be nervous about anything, honestly, I'd be more concerned with them not paying the car off.
This is what Iím concerned about.
Then they dont have the title. Car is useless to them.

Offline Mikeoracle

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Re: Dealer Lease buyout
« Reply #376 on: June 07, 2021, 05:04:28 PM »
New policy from Nissan started may 10
Is there any change or update with the Nissan Policy? Or am I out of luck if I have a Nissan lease that I would like to do a dealer buyout sometime in the next few months?

I am putting a lot more miles on the car lately and will end up going way over my limits at the current pace, so was hoping to get it bought out and figure out a better option.

Offline mod

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Re: Dealer Lease buyout
« Reply #377 on: June 07, 2021, 05:15:53 PM »
Is there any change or update with the Nissan Policy? Or am I out of luck if I have a Nissan lease that I would like to do a dealer buyout sometime in the next few months?

I am putting a lot more miles on the car lately and will end up going way over my limits at the current pace, so was hoping to get it bought out and figure out a better option.
Call one of the companies and ask them

Offline Saver2000

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Re: Dealer Lease buyout
« Reply #378 on: June 07, 2021, 05:21:49 PM »
Is there any change or update with the Nissan Policy? Or am I out of luck if I have a Nissan lease that I would like to do a dealer buyout sometime in the next few months?

I am putting a lot more miles on the car lately and will end up going way over my limits at the current pace, so was hoping to get it bought out and figure out a better option.
Not totally out of luck. You can always buy it out, pay sales tax, and then flip it.

Offline cozmohoot

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Re: Dealer Lease buyout
« Reply #379 on: June 07, 2021, 06:25:45 PM »
"As a captive finance company, Nissan-Infiniti LT cannot sell leased vehicles directly to our customers. The fastest way to get your title is to pay with a cashierís check made payable to the Nissan dealership. When your payoff has been processed, we will issue a bill of sale to the dealership."

I dont like this wording. A friend has a rogue he was thinking of buying and flipping.