@yossig Thanks for the write up. Very helpful. When selling my lease to algo/carava, there is no sales tax charge on the buyout price since essentially it's being sold directly to another dealer?
Does that mean if a buy the car at the end of the lease, the residual value amount isn't actually what I need to pay because it does not include sales tax?
Does it pay to have dents and scratches fixed before selling? I haven't seen anyone mention doing so.
In this crazy days, no ! Sell it to carvana/case/algo/enterprise and you will save the fixing, and maybe even makes some money..
Would a Nissan dealer directly be interested in buying out my lease?
haven't gotten around to this yet, but is it weird that Carvana and Vroom are both still giving me (high) quotes on my Nissan. Why wouldn't they just give me a message that they can't buy out Nissan?
Have you spoken to them or only an online quote? Algo is also giving online quotes. Its only once you speak to them that they inform you that they cant purchase it
I am pricing a Highlander with < 10k miles and offers were Algo > Carvana > Vroom.
One of the 3rd party buyout companies just successfully bought out my Nissan.
Any update on NMAC not allowing buyouts?I'm seeing some reports on leasehackr that Vroom is buying them successfully but not Carvana
PSA: GM stopping to allow third party buyouts (at least temporarily) from July 1st.
Does this mean I can not sell my car to Vroom lets say now that my lease is over?
Not directly. You would need to buy it out first (pay tax and wait for title)
Does it pay to call a GM dealership to ask if they wanna buy out? My understanding is that they are allowed to buy it out.