CCAP Lease End Buyout


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.

Good to know!

As an update, I received the check from the dealership last night (4/11) for the exact difference between the price I sold to them (on 3/16) and my payoff.

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Hey, can you share any details about this. I provided my dealer with payoff but they are claiming the dealer payoff is almost 2x more.

What dealership did you get your car? Maybe I can work a deal with them.

I used a dealership in Costa Mesa, California. Just try another Chrysler dealership.
Also check what Carvana and the likes will pay for your car - that way you know if you’re getting a fair deal.

I assume you have a lease with CCAP?
Where did you obtain your payoff?

I’m guessing one or even both answers will point to the problem. Either it is not CCAP and/or you are confusing residual with payoff.

It’s definitely ccap and it’s definitely a payoff letter, not residual.

However multiple dealers tell me that their payoff is 20k higher and they can’t go off my ccap payoff letter.

This just doesn’t make sense. You are the first here to report such a thing. Get on the phone with CCAP and get to the truth.

Are you in the last 60 days of your lease?

I just sold to CarMax this week. The dealer payoff quote matched my payoff. I was 47 days out from original lease end but extended it a month to make it 77 days.

The guy I was working with did say CCAP was one of the worst to work with and warned me that it may come out way over the CarMax offer before we called CCAP for the payoff. So it’s been happening.

The only time i have seen this happen with ccap is within 60 days of lease end.