I read this a few times and I am still not 100% clear, maybe I just don’t need to understand this 100%.
In simple terms, for me, will I be ok if I do $500 (or roughly the first payment) as DAS, and then monthly payments? I have signed a 6-month agreement, so I cannot sell it before that time. I really wanted to keep the vehicle full term but then the new payments (after the change in MF and RV) has made me think again on whether I keep it full term.
The important difference here is that the “sign and drive” triggers ccap paying the first payment for you, further lowering your buyout. A $0 das does not.
In both cases you would not come out of pocket at lease signing, but with the sign and drive, your buyout price starts lower.
Hello Hackrs!
I would like to purchase the 4XE (Texas State … so not a lease for sure)
Hopefully I will be able to claim 7500 rebate and keep it for sometime.
Does Carvana and the other online appraisals lowball when you do not enter a VIN or the vehicle has not been registered? For fun I started seeing what sort of offers I could expect on a 2022 Rubicon that is waiting for shipping. A 68K MSRP and carvana offer was 46k I put the VIN in and it came back “we’re stumped”, I assume because it’s too new/not registered. I plugged in with VIN my 2022 Sahara MSRP 60k and they kicked back ~52k.
Oh I didn’t know sign and drive would lower the buyout but that makes sense since CCAP makes first payment. The mf markup is negligible for flips. Wouldn’t’ it be more beneficial to do sign and drive for flips?
Apologies if this has been discussed earlier in this giant thread, but has anyone flipped their one pay lease?
I’m not in love with my 4xe, and CCAP already makes it extremely difficult just to get my payoff quote. Wanted to know what things I needed to pay extra attention to if I sell the 4xe. Mainly having to do with the rent charges already paid in advance.
Rent charge is earned monthly, so your payoff on the one pay will actually start out a good bit below the residual value. Each month, it’ll get closer to the residual value by the rent charge amount.
The biggest issue with one pays in regard to flipping is if you’re in a monthly tax state as the one pay pays all the tax upfront, so you don’t get any of that back.
CCAP doesn’t make it extremely difficult to get the payoff quote… you just have to call and ask.
I’m in a no tax state. So that should be a plus I guess.
So the payoff should be adjusted cap cost - total one pay + accrued rent charge?
As far as payoff goes. The fact that I can’t get it online is strike one. And I’ve called and their automated system does not provide it either, strike two.
Extremely difficult was an embellishment, agreed. But they don’t make it easy compared to other oems, I should say.