Alfa lease ending in 3 months, sell to make profit

I have to turn in my Alfa in a few months. Only drove 6k miles in 22 months :laughing:, might drive max 2k more in 2-3 months remaining on the lease.

When I login to my ally account I see sale price to be at 28k, I am assuming roughly this number will be the buyout price at lease end. I think disposition fees are roughly $400.

I was just playing around and see a carvana offer of $31.5k. Maybe some other dealers may give me more.
I have never sold my lease to a third party before so want to make sure i don’t mess up anything doing this the first time. Is there any thread which discusses this in detail you can point to?

  • How is ally/alfa with these companies like Carvana buying their cars? Is it a smooth process, or do I just need to sell to Alfa dealer only, like in a BMW.
  • What has been your experience with Alfa, how should I get max dollars for my car here.
  • I hope I don’t have to pay tax here. In simple math, I can make 31.5k - 28.4k = 3.1k profit (hopefully more if i get more bids). Is the math that simple on this or am I missing some other variables here?

Thanks

With a lease through ally, selling to a 3rd party dealer is a non-starter. Their buyout will not be your buyout.

Youll need to either sell it to an ally affiliated dealer or buy it out and resell, including payinr the taxes.

Ally will make both options suck.

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This is confusing now. So, ally affiliated dealer, that would be the Alfa dealers near me (or it could be other dealers too)? I just go to them or call them to check what they will offer?

Thats not necessarily all alfa dealers and isnt limited to just alfa dealers. You need a dealer that can buyout ally leases at your buyout, which usually is limited to dealers that originate ally leases. You can probably just call and ask.

ok, so just call, toyota, honda, dodge, nissan every brand/dealer and check. If I check with say one honda dealer, and they say no, that will mean all other honda dealers won’t buy ally, is that correct?
I just want to see how to maximize my time. also, is it worth checking with dealers, will that really help or I don’t have enough equity to make any profit here?

The dealer needs to be affiliated with Ally. It is not dependent upon the brand of the dealership.

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Ally is gonna give any dealer that does business with them a higher payout compared to your buyout. Like way higher. Only course of action is to buy it yourself, including sales tax and then sell it. Problem is sales tax will consume most of your profit. BTW, Ally sucks.

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well, I got a little excited too early. Back to normal now.
Will keep checking with dealers after 5-6 weeks to see if they can do something.

Any other info you all can give me related to this process will be helpful, thanks.

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Not much of a process with Ally. If you’re looking to get any type of equity out of it the only way is buy and sell, 28K plus sales tax. There goes your profit.

f*@# ally :laughing:

If I buy the car, do I have to wait for the title to arrive before I can sell to a third party dealer? in that case I can sell carvana or anyone else. it just sound a little too risky to handle. I read if I can sell within 10 days I can avoid paying the tax too, but who is going to buy in 10 days!

If you are in Southern CA, there are companies who take the released title such as Mycarauction. Tell them your situation and see what price they give you. There’s a list somewhere search MCA and find it.

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Umm,
When I sold my 2020 Tacoma Ally lease to Vroom-they paid whatever Ally gave me as a payoff -there was no tax calculated in the buyout, this was in 2021, don’t know if things changed since then though…

The sales tax is because ally charges much higher rates to 3rd party dealers, so the only way to have any equity is to buy the lease oit yourself, including paying sales tax, and then reselling.

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I get the concept-but that wasn’t the case for me-Vroom paid whatever Ally sent Me as a buyout and there was no issues at all…

If this was before Nov 2021, then it’s possible…the game was slowly shutting down June - Nov 2021

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Yes, was sometime in April/May 2021

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Then pat yourself on the back! Because now it’s hellish.

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Vroom doesnt even buy lease any more. Times have changed.

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Their instant offer is $30,200 today.

From what I understand,
Ally releases title (almost instantly) when I pay the buyout price to ally? I can get some proof of the same and these people may be able to work with it? In that case others may be able to work with that (proof of released title) too.

Maybe things have changed now in 2022. If that’s the case it should be simple to make money with this. I hardly drove this car and would love to make some cash now.

First time selling my car to third party, if i go with it. It’s great to understand the process here after reading all the posts. Thanks.