CULA - Negotiated Buyout Letter

Ask the Hackrs
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1

I negotiated and received a lower buyout price on my Jeep Grand Cherokee.

I have a buyer lined up to purchase the Jeep and was using the broker I leased the Jeep from to facilitate the third Party buyout.

We hit a snag as the payoff letter states it is not transferable.

I discussed the third party buyout with CULA— that is why I requested a lower amount In the first place as a buyout and sale did not make sense at the original price.

Why would CULA care if a third party is buying it instead of me? They agreed on the lower purchase. I simply do not want to lay the sales tax and to be honest they will likely get a new lease out of me if I can make this sale.

Thanks in advance for any help/advice.

2

Has anyone worked with CULA? I really want to make this sale and need some advice.

Thanks.

3

Does this broker have a dealer license in your state?

4

Yes they do and they are the ones that gave me an idea to do the 3rd party buyout. Unfortunately CULA gave me a payoff of $24,852 but if I do the third party buyout the payoff is 26,700.

The delta is pretty close to the sales tax I would be required to pay so it seems like they are backing me into a corner. I just can’t figure out why a payoff from my buyer would be any different to them than a payoff from em.