Ally financial pay off quote experience

Ask the Hackrs
1

Exploring yet another avenue. I was planning on continuing to carry my lease on my 2016 ram and pick up something smaller and easier on gas…but when I logged into my ally financial account, it shows the pay off quote as $2,400.

My payments are $371 and I have 14 remaining which is considerably more than $2,400. The lady I just spoke with spoke with broken English so I’m not sure if we were understanding each other. Any idea why the pay off quote is way off the mark ?

Truck has 10k on a 3 year 30k mile lease. In perfect shape. Residual is high at 28k. If payoff is truly $2,400 I’d do that. But if it is the sum of my remaining payments ~$5,000, I will hold off.

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3

Maybe it’s the no-brainer you hoped for after all !

Maybe CarMax or someone like that can cut you an even better deal ?

4

Closest car max is over 3 hours away. Not sure if car sense is in the same kind of business…

5

Interest/taxes aren’t in the equation would be my guess.

6

Got in touch finally with someone who knew what I was asking. He said turn it in and pay $2,400 and the lease is terminated with no damage to my credit rating.