Lease buyout dealer fees

[kinhorc]

I’ve never bought out a lease, I was planning on doing so to resell later since the 3rd party issue came up in the past couple months.

Is this a normal amount charge for buying out a lease? $727 dealer fees

[HersheySweet]

What car is this. Have you asked what the lender fees are, are they from the dealer or the lender for your loan.

[justsharing]

What does your contract say?

[kinhorc]

Kia Niro EV, it’s dealer fees, quote for purchase cash.

[HersheySweet]

Yeah… I saw the cash part after second appraisal. Have you gone to Kia financials’ online portal and attempted to buyout from there. Certain states and banks have rules requiring you to go through dealers.

Edit: deleted incorrect info.

[kinhorc]

Kia CO requires me to go through a dealer. I can’t even get a payoff quote by myself. It’s bad

[HersheySweet]

@Drew_CentennialLease any suggestions. Know you’re a local source. If it is a dealer fee, my suggestion is to contact multiple stores. Some might offer a lower fee.

[Drew_CentennialLease]

@HersheySweet @kinhorc

Those dealer fees are normal for CO when it comes to buying out a lease via a store. Many dealers in CO, regardless of make, will at least charge customers their D&H (doc) fee to do the paperwork. Even when I (a broker who has relationships with these stores) reach out to a store to buyout a customer’s lease, we still get charged a fee by the dealer to do so. I’ve seen it as low as $599 and as high as $1499.

Your best bet would be to call a few Kia dealers to see what they charge to do a lease buyout. You’re going to have to pay them something; it’s just a matter of how much.

[kinhorc]

I’m a little out of options at this moment so I am looking for an advice on this one.

I sold a car to a dealership where the payoff shown in the contract was around 27600. And the dealership sent me today a copy of a copy for internal use of the check they sent (supposedly) to Kia and matches the amount. So the positive equity they paid me is right in this case.

But when I call Kia, they say the dealer only paid the remaining which was 27300 (I made a payment after the car was sold about 3 days later) and I have $0 balance with no refund from them.

So I have a $300 lost somewhere, Kia does not give me anything besides the payment history and the dealership sent me this crappy looking scan of a printed copy of a check.

Someone is not telling the truth and I am a little out of options.

Thanks in advance