Selling a leased car privately on craigslist

Off-Ramp
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1

So, I understand that if we go through VROOM or Carvana, we dont have to deal with taxes or anything.

Currently, my nissan lease payoff quote is $13,200. VROOM offer was not attractive. But local market seems to have listings at $15K. I have 3 months left on the lease and I no longer need this car. Even if I sell for $13,200 I save 3 months payment and disposition fee.

How do I sell to someone locally? Do I have to payoff and own the car (and title to sell it)? In that case, I would be paying taxes for a car I am not keeping?

Can the buyer directly pay Nissan finance? What if he is taking a loan?

2

Easiest is to buy it from NMAC and then try to sell it, but then you only have a 10 day window before you get taxed. It’s really a PITA. A quick google search turned up this - https://www.edmunds.com/car-leasing/lease-buyout-beware.html - doesn’t sound promising when dealing with NMAC. I think that’s why most people just sell to Vroom, Carvana, Carmax, etc.

3

Ouch. That sucks. Thought I could save a few hundred and may be even profit. Wont happen I guess

4

not worth the headache and risk. When’s the last time you heard that a “craigslist transaction” went well?

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5

Lol. I have sold 2 cars on my local marketplace site (not craigslist though) and had no problems. I owned those cars though.

I called NMAC and they are saying that I have to do this through the dealership.

6

Dealership or maybe your credit union, I would guess that it’ll cost you a minimum of $500 to get this facilitated.

7

On top of the $300 buyout fee from nissan?

8

You’re looking for somebody to do you a favor, yeah it’ll be :heavy_plus_sign::heavy_plus_sign:

9

I sold my leased Acura TLX A-Spec to a local buyer and a local Acura dealer handled everything with no charge. The buyer did have a trade-in though and he financed though the dealer. I think there would’ve been a small fee if anything.

10

You don’t happen to have a reseller tax exemption certificate from the state do you? I realize it’s probably unlikely, but worth the ask.

11

I own 25 rental properties and use Craigslist solely for marketing them. No vacancies in 4 years. I’ve also leased and swapped 10+ leases through Craigslist in the last 4 months. It’s an invaluable resource for me!

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12

you’re using CL to get people out of their leases so you can broker them into a new one?

13

No no no…not broker…”consult.”

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14

Nissan told me this, also, and strongly implied it had to be a Nissan dealer.

Turns out Carnax was more than happy to take the thing off my hands in fewer than 60 minutes from walk-in to take a check and Uber home.

Can’t recommend them enough, admittedly from my sample size of n = 1.

It saves time, hassle, inspection, potential tire/brake replacement, and dispo fee. But all depends which way the wind is blowing how much they offer you.

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15

Look into https://www.tred.com. They pretty much help with exactly your scenario but they do take a little of the top.

16

I think I am going to try that. I was thinking about a business idea for my exact situation and looks like it already exists lol

Might just add the $500 fee to my selling price and see where it goes. Thanks

17

why not carmax

18

Isnt it like trading in? You cant set the price right?

They will just lowball below the payoff amount I guess?

19

Shoot. Seems like Tred supports only sellers in California/Seattle/Portland area?

20

Yeah sorry they might be only in select markets. Their customer service is very responsive so you can call them if you want to double check.