Before you sell to Carmax/Carvana/Vroom, sell to a LeaseHackr

Ask the Hackrs Buy/Finance
1

Mods, if you believe this is inappropriate, feel free to delete the thread.

We have threads for:

  1. Sold to Carmax/Carvana/Vroom
  2. Private party For Sale listings
  3. MMR values

Why not have a thread specifically for people (that are truly ready to sell at wholesale prices) to offer their non-leased cars to other LHs? Proposed requirements to post in the thread:

  1. Posting must include a valid offer from Carmax/Carvana/Vroom OR a recent MMR valuation
  2. Asking price can be no more than $1000 (?) above #1 to account for the incremental time and inconvenience of a private party sale.

I would welcome the opportunity to buy another LH’s car at wholesale value and I’m guessing other LHs would like to do the same. It would be a win win for both buyer and seller.

Thoughts?

2

I have been thinking about this as well, and even to take it a step further to a marketplace. To have a form that you put in what you’re selling and the dealers and brokers who support this site can have access to bid on or beat an offer.

3

For leases being sold to private individuals, leases would need to be bought out and sales tax paid in all but a few states …

2 Likes
4

Good idea for leases that don’t allow dealer buyout. For others, it might be better to sell to a dealer and save on taxes.

But seems like a good idea to test waters.

5

I was thinking of just owned/financed cars. A lessee could buy out their car (and pay whatever is necessary to do so) and then list it on this forum. Otherwise, lease buyouts, double taxes, etc. would make leases too complicated imo.

6

Different idea worth exploring but I was thinking of a private party sale from LH to LH at wholesale prices. If the selling LH is going to sell/trade it to a 3rd party anyway, why not sell it to another LH?

7

Agreed. If you’re in a state that provides tax credits for trade ins and your alternative is to trade in and purchase another car, this forum would not be worthwhile for you to use.

1 Like
8

Yeah I’m thinking of lease buyouts where we need a dealer to facilitate, not a pure private party sale.

This is what Equityhackr does but I think with more dealers and buyers behind it, it could be more powerful and valuable.

9

This would only work for cars owned outright with a lien-free title.

Leased cars cannot be bought directly by private parties.

10

Why? I’ve purchased many cars from private parties with liens on their vehicles.

11

A lessee doesn’t own the vehicle. The lessor does.

12

I don’t understand your point. I’m suggesting only owned/financed cars to be listed in this proposed thread. And to exclude leased cars.

13

I thought there were still a few brands that allow anyone to buy out the car at the same price. I am thinking Toyota but I could be mistaken

14

There are some brands that allow 3rd party dealers to buy it out, but i have never seen a brand that allows 3rd party individuals