The dealer in this thread ‘appears’ to have lost the payment to Ally, add that it’s Ally and it’s Florida made it a triple smack.
If you plan to buy it, it should be ok.
Reviving this thread because I need to get out of my 2021 Highlander Platinum lease with Ally Financial.
I’ve got about $1500 in equity on it but really don’t need it. Just want to get out clean.
Anyone know of any workarounds besides trying to get a Toyota dealer to take it off my hands? Im not buying another Toyota (great cars, just going a diff direction).
Managed to find a local Toyota dealer to help me.
It’s not easy for the regular Joe though. I had to stroke a check for $41k to buy out the lease including taxes. And the dealer then buys it from me.
Not everyone has that much dry powder to float it.
For this reason I wouldn’t recommend an Ally lease here in Florida.
Never again.
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Definitely will never do an Ally lease again as I had a Toyota RAV4 thru them. However, as others linked and mentioned, Anthony could have saved you a few thousand and lots of headaches by buying it directly out at your buyout price and cutting you an equity check. I had over 3k in equity for my personal buyout (which Anthony was able to handle for me) but a 3rd party buyout I would have had to write a check for 7k to sell it to the likes of Carmax etc. I also avoided having to buy the car out myself, pay taxes and register it etc, just to sell it.
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So it took about 3 weeks and some frustration, but I finally closed out the sale of my Highlander Lease with Ally.
I had to write a check to the Toyota Dealer who then paid off the lease with Ally on my behalf. I made about $1,200 on the deal—got out of the lease after 24mo (12mo remaining).
But this only happened since I bankrolled the process to the tune of $41k in order to wait a few weeks and get $42k back in return for the sale.
Not sure why, but just received a reimbursement check from Ally for $1,000 … ? Not gonna argue with making $2,200 for hitting eject.
Was the Ally check exactly 1k?
No. 1000 + a few bucks
Could that have something to do with sales tax?
Not sure if you pre-paid the tax for the 36 months (or whatever the original term of the lease).
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Reviving once more. Also in Florida with Ally and through Stadium Toyota (now Gettel). I am getting the run around as well for my 2020 Tundra due back in two weeks. Girlfriend was able to get her 2020 Camry at $0 above residual through her Credit Union. My Bank (Fifth Third) won’t even touch the loan except for a “Personal” and then an Auto to cover it. So, is it Florida or Ally thats causing this BS?
Both
Florida due to Must buy at Dealership rules.
Ally requires a bit of run around to buy out.
Both make a nasty combination.
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So, are things different if I drive out of state or is it based on registration, I wonder?
Lots of people here buy their cars out of state at a different dealer to avoid the Florida rules. Then you only have to deal with the Ally ones. Contact a few South / FL brokers and see if they can aid in an Ally buyout.
I think my dealer charges like $800 to do the paperwork.
Ally isn’t licensed to sell cars in Florida so that’s the main issue as I was told. I still don’t understand how a bank that size isn’t able to sell a car in this state. It’s a very strange thing…
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So is driving up to GA the answer? I am not about to pay $5k - $8k extra for the luxury of buying my own lease in Florida.
The answer is contact @Jrouleau426 and he will find you a dealer who will process it for $800 remotely.
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I have a meeting with Stadium tomorrow. Once they show their cards I will probably reach out.
Thanks for the updates, guys.
Driving out of state won’t matter. The dealer is still going to charge you to do paperwork. I would def try and get stadium to do it free since they sold you the truck. Maybe finance with them to make it worth it to them then refi if the rates bad?
That is my plan. But, again, not at a $5k+ premium.
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Ally Auto is sneaky and I will never lease a car again that uses them!. They don’t provide you your lease document when You request…they are terrible to communicate with–dont respond. .My lease is up, they told me I could extend for up to 6 months which is a standard, and they just said they changed company policy and that I can get an attorney if i want to! They will not honor what they told me and now I have to rush to get my new car after I expected to secure this car for 3 more months.