Buyout Lexus lease through Lexus dealership or through Carvana?

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1

In Florida. We want to buyout our lease and then sell to Carvana. Should we let Carvana handle the transaction to avoid the dealership fees? The buyout is $21,000 and the Carvana offer is $37,000.

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Wow . When did it change?
If this is true Wiki needs an update

@Cody_Carter , @Jrouleau426 can You please verify that?

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I think I might be incorrect. Hard to remember who allows it at this point. If TFS/LFS hasn’t restricted buyouts, then they’re idiots

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They haven’t. This is wrong. SETF has.

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Who that’s insane which lexus do you have and how many miles on it?

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TFS is still allowing lease buy outs for 3rd Parties. SETF is not allowing

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IS 300, 7100 miles

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This wasn’t the case when I did it back in July for a Florida registered UX on lease through LFS. Sold the lease to Carvana, no dealer needed.

Also, I’ve seen some amazing buyouts - but something doesn’t add up here. @fhorde How is your payoff so low?

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That’s what it is $21,000 for the buyout. I can’t remember what our down payment was though, I have to look that up.

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Did Carvana tack on any extra fees or was it a pretty clean transaction? I’m presuming it would be easier through them rather than the Lexus dealership.

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If you sold the lease to carvana, you did not purchase the lease yourself, so no dealer needed to be involved. It’s only if you personally are buying it.

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Is $21k the lease end rv or the current payoff amount?

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Carvana was incredibly easy. They offered a price, I scheduled the pickup, the rep came out to took a cursory look at the car, I signed the paperwork and she handed over a check. Lexus Financial reported the account as paid off within a week or two. No surprises whatsoever.

It can’t hurt to try with a Lexus dealer since most are desperate for inventory, but I have a feeling you will still get more through Carvana.

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The $21k is the buyout amount to own the car. We want to do that so we can turn around and sell it to Carvana. Just looking for the best way to go about this. Thanks

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We don’t personally want to own the vehicle. We wanted to buy out the lease and sell it to Carvana. Carvana contacted us just now and said since we are 30 days out from the lease end, it would be better to go through the Lexus dealership. Thoughts?

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Call Lexus financial and extend your lease and then go sell it to carvana.

There is no need for you to buy the car out prior to selling it to carvana. All you will do is light some money on fire via taxes that way.

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Okay, that’s a new one. Won’t it cost us extra money to extend the lease?

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Nope. Usually it just extends it a couple months at the same lease payment. You could then immediately go and sell it to carvana since you would no longer be in the final 30 days.

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Thanks so much for your help! I just called Lexus and they can do a 6-month extension at no cost. If I could just go over this one more time with you…

  1. Do the extension
  2. Finalize paperwork with Carvana
  3. Carvana pays the lease off?
  4. Carvana picks up the car and gives us a check for the difference?

Carvana’s offer was $37,000 - the $21,000 to buyout the lease. Yes??

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Correct. Much easier route to go than trying to buy it out yourself and then resell, etc.

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