CCAP Lease End Buyout


The key question is whether you can extend the lease and, in doing so, circumvent the 64-day rule.
If anyone has had success doing that, please let us know.
My lease is expiring next month and I have A LOT of equity in the car (2019 Ram Laramie).

Many posts here about extending and using that to circumvent that rule.

Without plates you can’t sell. How does ‘Funding’ come into play here?
With plates, it’s funded for sure. But without plates and ‘funded’ its still no good.

No proper registration with the DMV, then the dealer could be buying a stolen car for all they know.

Why is that, though? I’m curious about this myself. Having the open account means they sold/leased it to you. You have ID showing you are who you are. Why does it matter if it has a registration, too?

because there’s no title issued yet, only an MSO, and a car that hasn’t had a title issued on it can’t be sold.


Ah. that makes sense.
Although it can be sold without, as long as a title is produced within 30 days. At least according to Wrangler 392 spin off - ordering, configs, flips, etc - #763 by Clutch
But, of course, I can understand someone not wanting to take that risk.

I don’t understand the relationship of lease extension (near the end of the lease) to minimum time needed to sell after lease inception.

In any case, does anyone have a datapoint in CA for quickest time between signing and flipping?

Two concurrent conversations going on I suspect.

As soon as your plates come you can sell it

It’ll be funded first (it shows the web portal)
Than plates will come

I assume if the plates arrive before before the 1st payment is due you can sell it

Definitely, if going thru a dealer to sell at auction, they definitely wont be taking the risk of a chargeback as they’re only making a grand at most

In my experience I had the plates well before the deal being funded. I met a runner from the dealer at Connecticut DMV (from an out of state dealer.) Signed the paperwork, went into DMV and registered the car, got the plates. Drove off with the registered car. I had the plates and was driving the car well before the deal could be funded. There was a small issue with CCAP when my sister did the same thing. She drove around for over a month without the deal being funded but with plates. She actually owed two payments by the time the deal was funded.

I believe this is how it would work if you walked into a dealer and decided to buy a car that day. Pre-Covid when dealers actually had cars in stock. You could sign the paperwork, do the credit check, etc. get plates and drive off with your new car. It would take a couple weeks before everything was finalized on the finance end and you would be able to log into an online account/buyout/make payments etc.

I’m in Connecticut, not sure how the process works in other states.

From my experience this week, I was on the 67th day till my lease end. CCAP will not authorize dealer buyout within 64 days of lease end even with extension (per CCAP customer rep).

Funny, I was just on the phone with CCAP and was told that if I extended the lease by 2 months, then I could sell to third party as I would have more than 60 days remaining.

With all this conflicting information from CCAP, I would certainly not give weight to what an individual rep at CCAP tells me…

Two CCAP reps told me this as well and then the 3rd one told me within the 64 day is by lease contract end date, not extension date. Yeah don’t know which is accurate unless someone has actually done the extension and try to sell to 3rd party. I didn’t want to take the chance so I sold the Jeep outside the 64 day rule.

Totally agree - I would have done the exact same thing!

Did extending work for you? I’m in the same boat with a lease ending in June but won’t have a new vehicle for a few months.

I’m hoping to extend it a few months.

I ended up selling my truck to a Chrysler dealership on the last day of my lease. It just made more financial sense to do that than to extend the lease.

When you sold to Chrysler dealership, you can sell it within the 64 days?

CCAP told me they they can’t see the buyout price in their system within 64 days.

Within 64 days, you can only sell to a Chrysler dealership. When I went to the dealership they told me to call CCAP and request a payoff letter but not to tell CCAP that I’m selling the car to a dealership, instead to tell CCAP that I’m purchasing the car. Then the dealership does some “workaround” on their end that enables them to purchase the car. They told me that once they receive the title from CCAP, that they would mail me the check for the difference between the purchase price and the payoff. I sold the car on March 16, and as of today, I have not received the check, but I’m not worried - it’s a Chrysler dealer, not some shady 3rd party (I’ve been on vacation for the past week, so the check might already be in the mail, for all I know)


Gotach, ok that’s good to know. So within 64 days you can still sell to a CDJR dealer. Hopefully your check is sitting at home.