Hi all, I’ve decided to purchase my 2020 Bolt for the residual value of ~$20,000 when lease is up in May. I would like to finance about $12,000 of this purchase. Any recommendations for no-hassle lenders that will not try to upsell me on gap insurance or unnecessary stuff? I have great credit (758 F…

[image] The Best Finance Rates & Hacks! Submit your CU recommendations! Wiki Sometimes it can be better to finance a car rather than lease it! Some of the reasons this may be true include: Federal EV credit - some lease originators may not pass the full Federal EV credi…

Thanks @anon65069371 - I did comb through this thread but didn’t see much by way of good lenders that are easy to deal with. My question here is more in regards to ease of process as opposed to best rate.

[image] Michael_BOLTon: I’ve decided to purchase my 2020 Bolt for the residual value of ~$20,000 when lease is up ** [image] Michael_BOLTon: seeing that its taking several months for buyers to get their title and documents transferred **. [image] Michael_BOLTon: My question here i…

Hassle free lending I chose Lightstream (suntrust bank) alot, but their rate now is super high, 5.99% 36mos. Money deposit into your checking as soon as 24hrs. All you need is 2 W2s and quick phone call from a rep. I’ve done small loans under $15k with them and they were approved within 90 seconds. …

Lightstream is the best option as it is unsecured loans if you’re doing a lease buyout. You pay extra for convenience, as they won’t put their name on the title and rely on you having assets that they could seize in case of default AFAIK.

Does LS deal with the lessor directly on the payoff and facilitate any of the ownership transfer documentation for you, or do they just ACH the money to you and tell you to deal with all of that yourself? I would imagine it’s the latter since they don’t have a security interest in the vehicle. On …

Just an FYI, they send you the cash directly ahead of time, you write a personal check at dealer. It’s kinda weird because essentially the car is unsecured, because you’re the title holder, not lightstream. From reddit, basically you get it ACHd, and then write a personal check and deal with it …

That’s my understanding also. I don’t consider that more convenient at all. It appears to me that the only step you save with LS is you don’t have to provide them with the payoff statement from the lessor, which generally consists of uploading one PDF to a secure web site. In exchange for avoidin…

My perspective is when you sell it, you have no lienholder to payoff or satisfy immediately, so you have a bit more freedom. An example would be a volvo buyout with mythical equity. You use a lightstream to purchase the car, pay tax which dips into your equity, then sell the car with no lienholder …

There are use cases where not having a lien makes a sale easier, like selling a beater in a private-party transaction for cash on Craiglist. Probably others. And in other situations, speed of closing may be more important than making the time for the additional overhead and coordination involved w…

Best no-hassle lease buyout lenders?

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anon65069371 March 14, 2023, 1:08am 2