Hello all. I have a question to ask about a lease buyout. So I need to find my next vehicle as my 2018 GMC Yukon lease is due. I’ve been taking it to Cadillac and GMC dealers and they have been appraising it over the buyout value resulting in positive equity of about $4-5k. I was under the assumption that only GM dealers would be able to provide this equity but I recently got in contact with a Ford dealer and they said that they could also provide the equity. Important to note, this ford dealer also has a GMC dealer under the same name. Has anyone else experienced this before and will I be wasting my time if I go into the Ford dealer? I just want to make sure I won’t be wasting my time going into the Ford dealer as they could switch up their story saying they can’t. Any comments or suggestions or be appreciated. Thank you!
Looks like this will be the avenue they’ll use…if the same ownership
Otherwise GM is not allowing 3rd party buyouts
If i were you, I’d keep both transactions separate…the sale & new lease regardless of the dealer you work with
What they’re likely doing is having the gmc dealer buy it out, at least on paper.
Ok great. Thank you for the comments/suggestion! Is there a specific reason why I should be keeping them separate? It appears that this dealer does these type of transactions often with their GMC dealer.
Often times dealers will show a larger trade equity at the expense of a higher new vehicle cost. Keeping them separate (even if through the same dealer) let’s you negotiate each transaction on its own merits and keeps the dealer from playing hide the sausage.
What @mllcb42 said plus it helps you keep your options open.
For example, they really want your vehicle & will offer you too dollar for it so you decide to sell it to them, but if you don’t like their new lease offer but have another dealer who offers a better deal, you’re free to go sign that deal. You get the best of both worlds.
Awesome, thank you so much for the feedback here. I’ll wait to see if anyone has actually done this here so they can provide details on their experience.
Yes, plenty of people have had the sister dealer of the one they’re working with buy out the car to get around 3rd party buy out limitations.
Use the search function to find out other people’s experience getting out of a GM lease…it might help you faster than waiting on someone to tell you their exact experience. As you know, No 2 dealer experiences are the same
Oh right, that is a solid idea. Thank you again for all your help. I really do appreciate it!
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