I spoke with Ally this morning to start the process of transferring my lease to a new owner. According to the Ally representative they are not doing lease transfers at this point because they are working from home and the information they need to do the lease transfer underwriting is only available ‘in the office’.
Has anyone else had similar issues? Is this a violation of the lease contract by Ally Financial?
Bmw is doing the same thing. Also I don’t think the transfer is a right, it’s more of a perk they offer.
Most lease contracts I’ve seen don’t include the lease transfer details in them. It’s more so a company policy. Why not read your lease contract to find out if it is a violation. Given these unprecedented times, there is most certainly a clause in there that protects them from liability or any contractual obligations during an event such as this
What does your contract say?
Most are not doing lease transfers at the moment
Ally
Bmw
GM
They’re deferring payments
I spoke to Ally tonight and they said they are currently processing lease transfers.
That’s great!
Last I spoke w GM, they said earliest they’ll resume is 4/30
Not sure if anyone has heard different
Not sure what this thread is about… I didn’t speak to any of you.
Spam.
Good one. Zing!
Talked to Ally again this morning and now they are saying they are only processing existing transfers which doesn’t make sense. This is after trying to call for 2 days straight and getting the “office is closed for a general office meeting. Please call back later” message. Exhausting.
Why wouldn’t that make sense? They are probably trying to get through their backlog before accepting new applications
Update: Ally is still not processing lease transfers and they don’t know when they will be able to resume processing. I’ve been trying to start one since early April and the story has been the same.
They’ve posted decent Q2 numbers, so one would expect them to at least start processing, understandably not at the rate they were back in Jan/Feb 2020.
I spoke with Ally about transferring the lease on my '19 Stelvio on 8/10 and got the same story. However, they did say that they had requested information internally on when this would start up again and to call back around the end of next week. Could just be a line that they give everyone, but I’ll be calling back on the 20th or so to find out if any progress has been made. I unfortunately picked up my lease right at the end of December 2019, drove it for my commute to work until Mid-March and it has sat with only about 400 new miles on it in the past 5 months. Definitely a waste of money at this point considering I am now perm work from home.
Thanks.
Any updates?
Still no luck with Ally. No one a Ally seems to know when they will reinstate transfers. The wait time to speak to a representative is horrendous. I was told last month that they anticipate resuming transfers no later than the 2nd week of August. Here we are 8/17 and they now Anticipate for 2nd week of September
I think a lot of businesses are using this Covid as an excuse to stop providing some services. I’m sure there is some legitimacy in these situations but I think a lot are using it as on opportunity to shed some business services/practices.
Anyone had luck selling there Ally lease? I have tried carvana but apparently their buyout is higher than my buy out.
I did with Vroom just last weem, had no issues. Payoff was personal-sales taxes.
Moving this Post from the other thread
Was working on this lease transfer and this is what they told the guy.
When I called Ally, they said the dealership would need to call in for the payoff. Apparently it is different from the personal payoff. Did they say the same thing to you?
