Hi , new to this forum I really enjoy the amount of information available on here. I done research on here and can’t find anything more up to date with lease buy outs in Pennsylvania dealing with Crysler Capital. My lease is coming to an end (end of May) and have spoken to CC and they are telling me I have to go to a dealer to buy out the lease also i have letter from them saying I will need to work with dealer to complete purchase . About 5 years ago I bought out my last lease and was able to have Bank of Amer. send Cc the funds to buyout. My monthly statement on back has list of addresses with one heading “Mail payoff checks to:”. So seeing that i feel i can mail check for payoff amount + lease purchase fee. Trying to avoid going through dealer 2 local want almost 1500 in fees in which i don’t mind paying something since they have paper work to do (in which time isn’t always free) but if i can avoid paying extra why not.
Also just curious since Cc doesn’t allow 3rd party sales within 60ish days has anyone been able to extend their lease additional time to bypass that? i’ve found on these forums and other places people were able to and then found opposite.
Hmmm, PA Dealer requirement appears in my Hyundai paperwork as well…might be regulation to force that.
If all else fails see if a broker can complete the buyout in another state for you. People are doing that for Nissan to avoid fees.
Lease extensions have allowed you to bypass date rules in the past. I haven’t heard of anyone getting turned down because of a lease extension unless it’s right at the end.
Thanks for the reply. I guess within the last 5 years they made regulations requiring you to go through a dealer for a lease buyout. Researching state laws/ regulations I couldn’t find much. I already spoke to CC about an extension that’s no issue will do that if i need to buy more time or if i end up selling 10k+ equity . Didn’t know I wouldn’t be able to just buyout like I did in the past.
Just an update on my CCAP lease buy out. I was able to avoid going through a dealer to complete the buy out. I used an local CU and at first they wouldn’t send CCAP a check direct due to the buyout quote document stating you “must” go through a dealer to complete the buyout. After speaking to a bunch of CCAP reps they all stated we do not have to go through a dealer and we can send them a check directly. My CU and I had a conference call with CCAP and asked of them to change the wording on the buyout quote doc and they did. It now states on the doc “ you are welcome to work directly with your dealer”. Just wanted to update this info for others.