Lease buyout and immediate sale

Ask the Hackrs
1

I’m currently leasing a 23 Mustang Mach E GT, looking to get out of it because it is dreadfully uncomfortable to drive. It seems that the value on these cars is dropping in the last month or so, so I cannot get a decent trade value from any dealers

Carvana gave me an offer that was good so I can sell to them, but they cannot buyout from Ford. So I’ll have to buyout the lease first then sell it to them.

Anyone have experience here that could help? Any particular banks I should work with? Any potential roadblocks in not aware of?

2

Why not transfer it to someone else and walk away? You must be underwater.

3

Guess I could try that too as an option. Anyone know if Ford allows lease transfers?

I’m kind of getting mixed signals on the value. Last MMR I had pulled showed the value slightly above my payoff, that was roughly a month ago. I also have the carvana offer at payoff value.

KBB, cargurus, truecar, and a few local car dealers are pricing it about $5k below.

4

Yes, Ford allows transfer and transfer fee was very low $150 unless it changed recently. Keep in mind you will need to pay taxes if you buy it out. If Carvana offer expires before you get the title you will get stuck with it.

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5

Ah fair point on the title.

For a lease swap, who usually pays shipping fee for the vehicle if it’s not someone localish?

6

Buyer pays for the shipping unless you want to offer as an incentive.

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7

Right on, thank you for the help! Seems like a better option than the buyout

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8

What is the price Carvana is offering vs. the buyout remaining on the vehicle?

I’ve bought out a lease (easy) and sold to Carvana (easy) – separate cars, though. As long as the money works and the car is in good condition, you should come out ahead and be able to do everything from home in one day.

9

Just sent you a PM

10

Carvana offer was right at the payoff amount.

11

Try here

and Swapalease.com.
Good luck.

12

Thanks! Trying the private transfer here first, then will try swapalease if that doesn’t work out

1 Like
13

Oh. Well at least you know that way you could come close to breaking even.

14

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