SoCal. I have a Jeep Grand Cherokee High Altitude with 25XXX PAYOFF. I am within 60 days of lease end and was trying to sell it to a Chrysler dealer that offered me 32500 for the car. My question is will there be an issue selling it because of the 60 day window even I’m selling it to a Chrysler dealer? Leased through CCAP
What happened when they tried to buy the car?
1 Like
it’s not about how much time left on lease but about how many payments are left on the car.
they will deduct the payments+final buyout price from the total amount they offered and you will be all set.
You may run into an issue within that 60 day window, but I can’t say for sure if selling to a FCA dealer will make a difference or not. A family member sold a Ram (CCAP lease) to Algo within the 60 day window and CCAP increased the buyout number from the buyout that he was given at about 90 days. Many calls with CCAP later and they indicated he was liable to pay sales tax and would not budge and Algo passed the bill onto him. So, yes you should be able to sell, but the buyout number may vary.
Edit: This was in February of this year, policies may have changed since then.
2 Likes
I went through this in May with a Jeep GC coming off-lease and Chrysler Capital was very firm that they did not allow third-party sales (only I could buy it) within 60 days of the lease termination. A Carmax rep verified that they got they same story over the phone while I was sitting there.
The wrinkle in your situation is that you’re trying to sell to another dealer in the Chrysler family, which I wasn’t interested in doing at least at the time. So I would make sure the dealer knows the situation and confirms directly with CCAP that the sale will be allowed before thinking you’re in the clear.
2 Likes
Thanks all for the replies. I just got off the phone with CCAP. They confirmed I can sell the vehicle to any dealership without issue. I asked repeatedly about selling to a third party and they said there would be no issue. I will be taking it to the dealership today to get inspected and selling it to them (Chrysler Dealership)
1 Like
There is no issue, just the price goes WAY UP.
Wow, guess I missed the boat by just a few months - they wouldn’t budget when I tried it! Glad its working out for you - nice equity in these JGCs right now.
In May I had 63 days left on my 2018 JGC lease with CCAP when I realized I had equity in it. From reading posts in this forum about not being able to sell to a dealer within the last 60 days, I quickly sold it to CarMax. I did call CCAP and spoke to 2 different representatives who told me that it is possible to sell it to a dealer in the last 60 days. They both stated that within the last 60 days of the lease, their system is not able to generate a dealer payoff. However, they told me a dealer could use the customer payoff and just subtract the tax. Not wanting to risk losing out on the equity I opted for the fast sale to CarMax. Most likely selling it directly to a Chrysler dealer within the last 60 days is a much easier process.
1 Like
Alright I got my check. Went to a Chrysler dealer and had no issues selling it even though the lease is up next week. 7k in equity
1 Like
According to who?
Isn’t CCAP one of 3rd party price more than normal banks?
Just FYI: My lease ends in May 2022 but I’ve requested my buyout price from CCAP for my 2019 JGC. In May and June it was straight forward with a buy out price. I requested in July and it seems they may have changed their policy. I received an email with attached wording:
" Thank you for requesting the purchase price quote for your leased vehicle. The terms of this quote are as follows.
- This quote is invalid if you plan to trade this vehicle towards the purchase or lease of another vehicle. If this vehicle is being used as a trade in, a separate dealer quote will be provided which may be different from the purchase price quote provided in this letter."
1 Like
Sounds like a lot of people will end up with 2 or 3 jeeps in their driveway that they can’t sell. (Can’t sell for profit at least)
1 Like
So I sold it to an Alfa Romeo/ Maserati which I believe is a Chrysler Dealer as well. I sold it to them with 1 day on the lease with the payout provided to me through Chrysler Capital. Had no issues
1 Like
Yes: it’s all part of the Stellantis family. Nicely done.
Guys Im being told by CC today that Vroom will get a different price than the payoff I sent them. This aint looking good to flip my Jeep and order a keeper one…
Where are you located?
North Carolina
Have you tried going to a local Chrysler dealership to see if they’ll match?