Hi! I have a 2020 Mazda CX-5 lease that ends in July 23. I want to do a lease-end-purchase as efficiently as possible and skip the dealership. I’d like to avoid paying any fees not required. Some details: Lease is financed through Mazda Financial Services Registered in Florida I will finance so…

Have you been on the mazda financial portal to see if theyll let you buy it out directly?

Yes, I have logged in to MFS and requested a payoff quote. It it as simple as getting financing and sending it to MFS? Are there other considerations I need to think of like tax, re-title, etc?

Typically payoff include tax. The breakdown should say. They send you the title and youll have to go to dmv to get new plates, transfer title, etc.

Mazda is TFS, so it might need to to visit a dealer Edit, tfs now, he might have chase and that can be done online

Isn’t it FL that has the “you have to go through the dealer, unless your captive has a branch in the state” rule? OP - who is the lessor in this case?

I believe the lessor is “Mazda Financial Services / TFS”. I now see that they offer a payoff address / pay online functionality on the website. It seems I should be able to get financing and payoff the vehicle, then deal with the DMV.

MFS is saying that Florida is not a “direct sales” state and I will need to go through the dealer.

Hi @CliffRedford , thank you for posting this topic. Really curious if you could provide an update on how you resolved this.

Update now that my process is complete: Mazda Financial would not allow me to buy out directly, stating that Florida leases must be purchased through a dealer. I ended up using a company called Lease End. The process was smooth. My only complaint was that they required me to use their lender, whic…

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Lease Buyout - Want to skip the Dealer

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trism April 24, 2023, 12:19am 5

CliffRedford:

I’m open to suggested lenders.

The Best Finance Rates & Hacks! Submit your CU recommendations! Wiki

Sometimes it can be better to finance a car rather than lease it! Some of the reasons this may be true include: Federal EV credit - some lease originators may not pass the full Federal EV credit or state credits. Through financing or balloon loans (another type of financing, you can take advantage of these credits if you have the tax liability) High Lease Money Factor - some lease originators have a very high money factor, higher than what it would cost to lend from another bank! Combined …

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