Our 2020 Alfa Romeo Stelvio lease is ending and I’m looking to purchase from Ally, I see the buyout total and ran to my credit union to get approved, etc.
Ally’s process is really convoluted and the letter they sent today makes it seem like they will not allow you to finance a lease buyout and that the payoff check has to come directly from me, with no “third party checks allowed.”
Does anyone else have experience with Ally? Seems like a pain just to pay cash or temporarily finance with Ally just to refinance with my credit union within a month.
It also depends on what state you live in. You can’t buy directly from Ally, I believe, in Florida for example. You have to go through a dealer. Ally is horrible. It might make sense depending on if you have a large amount of equity to sell it and use the difference towards the purchase of a brand new vehicle. Anthony at DSR leasing can buy out the car from Ally at YOUR buyout.
They will charge a higher payoff to anybody that’s not you, and then to thank you for finding a buyer for the car that they will have had to sell at wholesale they’ll demand you pay a disposition fee and a tax on that disposition fee. And when you call to ask what the amount is for, depending on who at Ally you talk to, they’ll assure you that it’s a disposition fee or a personal property tax. F*** Ally. An incompetent POS company.
There’s ways around that. As other posters have said. Many people can buy these out at your personal buyout.
Besides not being able to sell to carmax/carvana ally has saved my customers 1000s over the course of a lease Bs other banks and I rarely have heard issues at lease return lately and I’ve leased a couple thousand through them the last 4 years.
