Chrysler lease buyout question

Looking for a little help with the Chrysler lease buyout.

We leases a Pacifica Hybrid last month (10/21/22) with the plan to get all the incentives upfront then buy it out. We wanted to capture all the incentives upfront.

So the first month 10/21/22 to 11/21/22 is already paid at signing (I did the Sign and Drive).
This quote is go thru 11/25 and includes month #2 payment. But if I buy out before the 21st of this month, wouldn’t I not have to pay for the second month?
If I sent in the check for the full amount they are asking for, will I receive a refund for the second month since technically I am not using it for the second month?

Also the instructions says I have to go thru a dealer? Can I just go thru a credit union and send in a check?


Odd that it says through the dealer, you are in CA.

I doubt the 2nd month thing will refund you but I don’t know that one at all as most people more whine about paying the 2nd month because it took the dealer too long to pay.

Ive always had ccap refund the extra payment when a dealer has paid it off after the payment was due.i wouldnt expect a payment to be refunded if you buy it out after a payment is made and the buyout amount reflects that though, just because the buyout occurred shortly after a payment was due.

So I guess the buyout is the residual plus the remaining payments (without the earned interest and payment). So I guess I need to pay the 2nd month base payment but not the interest and tax if prior to the due date?

Your buyout is the adjusted cap cost less any base payments you have made. So if you make another payment, the buyout gets lowered. If you get a buyout number, send that in, and then make a payment, you should be refunded the payment amount.

Right, so if I send buyout prior to the 2nd month due, they should refund the second month?

Normally, id say yes. The unpaid monthly payments is weird though. That reads to me like a payment was already due and hasnt been made.

I believe that unpaid payment mean that they are already counting your second payment on the payoff amount listed there, so I don’t think you are getting that payment back since is already discounted from the payoff.

But if I pay prior to the 2nd month starting, they didn’t earn the taxes and interest.

Payoff is usually good for 10 days and if your monthly payment is within that timeframe, CCAP may show a payment due. They did on mine but once the dealer requested a payoff with a per day breakdown for it, they received a slightly lower amount. For some reason, the payoff shown to the customer includes a full month vs x days until the expiration of the quote.

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On a separate topic related to CCAP, is the non-affiliate dealer payoff same as customer payoff?

Yes, less any sales tax included in the personal buy out

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