Getting out of my US Bank Supra lease

Ask the Hackrs Buy/Finance
#1

OK. Thick Brit here that needs educating :slight_smile:

Going to get rid of my 2021 Supra with 6 months left of its lease. Ive had three figures from US Bank. With some rounding:

$47k if a dealer was to buy it and sell me new US Bank financing
$48k for me to buy including tax
$63k for a dealer to buy without new finance

So looks like i will just pay it off and then sell it. So I plan on sending a certified check to US Bank with the associated paperwork - oddometer and new title instructions.

How long from receipt of check should US Bank take to do their part ?

Do I then need to visit DMV to do something or what do i need for the likes of Carvana etc to be able to buy it ? Anything i need to be careful of ?

Cheers

#2

You’ll have to get the title from USBANK, if you pay tax included in your buyout you’ll just go to DMV to register (my understanding, I live in PA, so not 100%).

NJ dmv might be backed up, we bought a Volvo and it took them 2-3 weeks via express after a small snafu.

#3

Once you receive the title release from US Bank, you may be able to sell it directly if the buyer accepts lessor released titles. Find more info @ List of places to sell or value your car online