Dealer says it’s not worth to go through TFS with MSD’s as Credit Union giving Better rate

You would need a quote with TFS from the dealer. They may not provide you the same discount as the CU worksheet and they may try to play games with the base money factor of .00155.

One thing is your TFS acq cost would be $650 vs. $1095 from the CU

Also, you never clued us in on your possible trade-in :astonished:

Oh, sorry. It’s a 2018 Mazda CX-5 GT. The quote they received from Mazda/JPMC was $18,600 and dealer was offering me $2,400 as equity bringing the payoff at $21,000.

It’s funny cuz they were stating the equity would be used towards the down payment of $3k but I thought it would go towards reducing the selling price, am I wrong?

How can I effectively let them know that which ever the MF they give me does not align with the actual MF, if they do play that game?

The most effective strategy is to not care. Set your target price (monthly and das) based on buy rate and let them get there however they want.

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I also wanted to ask, should I apply through TFS myself and get a verified pre-approval? Just to see what options are by going through TFS?

Keep your trade out of the deal for now and get quotes from Carvana, Vroom and Carmax…

The dealer is probably taking you to the cleaners on the potential trade-in. My one minute strawman on KBB shows your '18 CX5-GT at 23-24K trade-in assuming std miles. Used cars are through the roof and even moreso in the last couple weeks since the Northeast Ida Flooding. So please do your homework and not treat it as dealer found equity.

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I was thinking about doing just that but would they payoff the lender (JPMC) remaining payoff amount and give me the check for the difference or would I have to pay it off and then sell it to vroom, Carmax, carvana thereafter? I’ve read that all I would need to pay is the taxes remaining and they would take care of the rest. Can your provide me any insight on that?

Chase allows 3rd Party Buyouts, so yes they would cut 2 checks: one to Chase and one to you. By not buying the car out yourself, you won’t owe sales tax on the transaction.

You should request the 3rd party payoff from Chase and just confirm it’s the same as yours:

You can get quotes from most of the car buying services online in a few minutes. search for the threads here about each of them if you have specific questions.

As for down payment, as long as you have Tier 1 credit you can structure the lease however you want (just 1st DAS, 1st + taxes and fees, or sign-and-drive).


This :point_up_2:

You should be cooking with oil having a Mazda lease with JPMC/Mazda but follow everything noted above by jeisensc


I’m in the process with Vroom right now as they have the best offer so far. Been reading that JPMC doesn’t offer third party buyouts so I’m gonna hopefully be able to do that with Vroom, if they allow it.

Vroom no longer buys any leases

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Have the dealer look the RV up again today. We (CULA) released new RVs that are effective today and the new RV on a 36/12k for 2021 Sienna XSE AWD is 68%. 39/12k is 67% so definitely have them go with the 39/12k for the lower payment.

This deal is through Alliant CU. TFS with MSDs won’t come close to the CU lease.

I had a feeling that was it. They really clamping down on third party lease buyouts.

The current RV the dealer is giving me is 67% with the MF at .00155 and that’s going through the CU and not TFS.

PM me the dealer’s contact and I’ll send him the new RV sheets

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OP is looking for a Highlander not Sienna

What were your quotes from Carvana, Vroom and Carmax?

Carmax $24000, vroom $24810, Carvana $23600.

Just got word back from all of them that they no longer buyout leases anymore.

Dealer is giving me $2400 in equity (JPMC is giving them a quote for $18600 for the buyout) and they say I can use that towards the $3000 down payment. So, I would be paying $600 towards the down payment and if I want to bring the monthly payment down anymore, I would need add to my $600 towards the down payment.

Funny thing is, the quote they were giving the dealer for buyout was less than what they were giving me when I had inquired earlier this week. Or maybe it was with state tax, which is why it was a little higher :thinking:.

That’s breaking news if Carvana (or Carmax) is no longer buying out any leases or not buying from Chase Auto Lease??

Make sure you told them Chase Auto Lease since Mazda switched a year or two ago to be a licensed subsidiary of TFS.

Your quotes came in about where I thought they would based on simple KBB trade in value search meaning you have substantially more potential equity to tap into with a third party than the dealer. You could always try to leverage your third party quotes with the dealer…

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