Car Lease Master Thread

[Luvisrael]

https://www.reddit.com/r/personalfinance/comments/7tkzpw/in_order_to_get_the_lowest_lease_price_possible/?utm_source=amp&utm_medium=&utm_content=post_body

[thaber]

Do i need to specify dealer? Wouldnt it be automatic?

No, the assumption is you're buying it yourself

The instant online quote is BS. As soon as I spoke to them on the phone the guys like that’s a max white and of course they quoted me more than 1k less after the inspection. Than I had them price match Caravana

With algo? Possibly. Vroom honored their number on two vehicles.

so it’s not like I’m buying out my lease and then selling it?

Nope. That's why there is no tax

[thaber]

https://www.reddit.com/r/personalfinance/comments/7tkzpw/in_order_to_get_the_lowest_lease_price_possible/?utm_source=amp&utm_medium=&utm_content=post_body

Also, spend some time on leasehacker

[thaber]

[mention]thaber [/mention] or if anyone else can help.
I have a 2017 Sentra with under 20k miles. Lease is up sep 6th and I already got bused a different car.
Lease buyout is $10,161 plus $300.
ALGO gave me an estimate of 12,100 and carvana estimated $12800.
Is there any that is preferable? Are their estimates usually on point?
Also I’m not able to start the sale before sep 3rd. How long is the whole process? Should I/can I extend my lease for a month to be safe?

Still have questions? Call for the dealer buyout. A couple days is fine but you can call and ask.

[thaber]

Just a FYI:

Happy for all you guys that got great deals on your car buyouts. But for others reading this and hoping for the same in the future, just know the used car market prices are extremely and abnormally  high right now (not sure why, may have to do with manufacturers not making new cars for the last few months) so probably wont be the same buyout prices in a few months time..

There's truth to this, it's always volatile, and  why I netted 5k on my dodge charger, last October when they became very popular. But for cars with high residual value like Honda and Toyota, they you will be under the allowed mileage on, your chances are consistently decent, I haven't returned a lease in 10 years, and made money on 6 cars.

[Luvisrael]

There's truth to this, it's always volatile, and  why I netted 5k on my dodge charger, last October when they became very popular. But for cars with high residual value like Honda and Toyota, they you will be under the allowed mileage on, your chances are consistently decent, I haven't returned a lease in 10 years, and made money on 6 cars.

wow that’s awesome! It’s a game changer in leasing for me!

[yossig]

Nope. That's why there is no tax

i called Honda and they gave the total payoff amount including tax and I was left with very little for profit, will it be different if they buy it?

[thaber]

i called Honda and they gave the total payoff amount including tax and I was left with very little for profit, will it be different if they buy it?

Call and ask for the dealer buyout. Tell them you're selling to a dealer. And yes, this is very far from a sure thing and you're not always going to make money

[thaber]

wow that’s awesome! It’s a game changer in leasing for me!

Indeed. But don't rely on it, it's not going to make you money every time

[Luvisrael]

Can not believe how easy my lease buyout with Algo was. I used them because they were quickest I’m response time etc. I had them price match Vroom and I dropped the car off at my local Auto Lenders. The check was printed out and signed to me before I even signed the final document.

[Luvisrael]

Indeed. But don't rely on it, it's not going to make you money every time

Even if it’s an easy way out of a lease without losing money it’s great!

[Yikes2179]

Even if it’s an easy way out of a lease without losing money it’s great!

I was going to return my 2017 nissan Sentra early - would have cost me about $900 - instead algo is paying me about $900 over the buyout

[elya]

I was going to return my 2017 nissan Sentra early - would have cost me about $900 - instead algo is paying me about $900 over the buyout

Nice! Good for you.

[JuryDuty]

If I got a lease from nj, I'm allowed to drive around without the stickers on the windshield, correct? They'll just mail it to me at some point?

[Luvisrael]

If I got a lease from nj, I'm allowed to drive around without the stickers on the windshield, correct? They'll just mail it to me at some point?

if u mean inspection I have to go to the station and get it

[JuryDuty]

So I have to get it inspected? Is there a grace period or can I get ticketed right away? And what about registration sticker?

[israshot]

So I have to get it inspected? Is there a grace period or can I get ticketed right away? And what about registration sticker?

As long as it's not registered in NY, you're fine.
They extended the registration period and you shouldn't get a ticket for your expired temporary plates.

[JuryDuty]

Is that also true for the inspection? And will they send me the inspection sticker? How long is it extended for?

As long as it's not registered in NY, you're fine.
They extended the registration period and you shouldn't get a ticket for your expired temporary plates.

[israshot]

Is that also true for the inspection? And will they send me the inspection sticker? How long is it extended for?

You car needs to be inspected. 2nd question was answered already, you have to go yourself for inspection.

[stooges44]

You car needs to be inspected. 2nd question was answered already, you have to go yourself for inspection.

I've never had to get a new lease inspected myself. Speak to the dealer and/or broker they should be able to give you a sticker.