I am 20 months into my 36 month lease of my 2019 Honda Civic Si Sedan (12k/36mo). The car is in excellent shape and has just under 15k miles on it. I have 16 payments remaining at $257/mo = $4,112 total remaining. The buyout initially agreed upon at the end of the lease term was $15,390. I am yet to…

[image] sd105: I received a letter from my dealer recently and due to the current car market, they want to buy out my lease, also giving me the option to lease another vehicle through them (or not). You have been marketed-to. Imagine it said, “we want to buy your 1904 Model T” and recycle it …

Given the current market and also the fact I can be without this car, do you think it would be wise to get it appraised and see where I am at in terms of equity?

Never hurts to get it appraised (and of course, call Honda Financial to get the payoff amount). I not into predictions, but I imagine you have quite a bit of positive equity on a '19 Civic with 15k miles. Check the usuals–Carvana, CarMax, Vroom, etc. to get quotes. Feel free to get one from your l…

[image] Blueapple: (and of course, call Honda Financial to get the payoff amount). Dealertrack portal. Right here, 60 seconds and you’ll have your payoff. https://payoffahfc.dealertrack.com Can’t imagine you wouldn’t have at least a couple grand equity.

Thank you for your response. Sorry to ask a lot of questions, but I am new to this. Let’s say there is positive equity- I would then need to take care of the payoff amount through Honda Financial Services, and then once I own the car, I can sell through one of the third parties (CarMax, etc.)? By d…

Carmax, Carvana, Vroom, etc. would buy the car out from AHFC and send you the equity. There’s been some reports of Honda stopping 3rd party buyouts but nothing confirmed there. Just an exchange of paperwork.

Assuming you will sell it to CarMax, they will handle the payment directly to Honda, and will send you the difference amount that you agreed to sell it to them. Hence the equity …

Thanks everyone- does the lessee typically contact the dealer before doing something like this? I want to make sure going this route of leaving a lease early won’t get me hit with any fees, effect my credit, etc. It seems by going this route, there is no benefit in it for the dealer unless you sell…

No work with the Honda dealer required. Get your payoff quote at the link above and run your car through the Carmax,etc. websites. If the equity is good enough for you, begin the process with them. There are threads reviewing the processes with all the online dealers if you have any questions. You c…

Things could be different with Honda, but just got rid of my Chevy to CarMax last week. The GM Financial person on the phone even admitted the process is the exact same if I sell it to original Chevy dealer, another Chevy dealer, a non-Chevy dealer, or a place like CarMax or Carvana. The finance/b…

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Letter from Dealer - what to do?

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jeisensc May 26, 2021, 10:04pm 22

Sold one to CARVANA! Share Deals & Tips

We got the VROOM topic going (Sold one to VROOM! - #254 by SunshineOC) but thought I’d throw in how easy it was with Carvana too, and why it’s important to check both. Put the wife’s Lexus data through both Vroom and Carvana, vroom was $2k under the payoff, Carvana was $45 over it. Submitted the paperwork for Carvana, got on the phone with them to discuss lease transfer stuff with Lexus in the state of MO (easy peasy). Setup a time for pickup to be 10am on a saturday. 10:02 am knock on the doo…

Sold one to VROOM! Share Deals & Tips

Not a lease deal, but I sold my prior lease to Vroom.com today. I rarely plug companies, but holy cow it was easy! I also got a quote from Carvana, which was more than $2K below my payoff – Vroom was $1,600 over my payoff. Huge swing in my favor. For reference, the car was a 2016 Acura MDX with the tech package, black/black with just under 20K miles. My sense is that pricing is heavily driven by direct demand for inventory for the company, so pricing will be relative to demand for the color, o…

Sold one to Shift.com Share Deals & Tips

Not a lease deal, but I had to move my 2013 JX35 with 78k mi, loaded quick after the awesome lease deal BigL got me. I got buy offers from a bunch of places including Trucecar: 11,800 Dealer Tradein 13,500 Carvana 13,800 Shift.com 15,700 + 100 for having paperwork ready. The process was stupid simple. I cleaned and detailed the car, it looked nearly new. Made the appointment. The shift.com rep Ubered to my house. He looked over the car, and was impressed at how clean it was. He didnt even b…

Has anyone sold to Givemethevin? Ask the Hackrs

Per the title, has anyone gone through the entire process with this company? I’m flabbergasted that I just found out about this service today from @asfarr86. I’ve been using Vroom and Carvana for awhile, and recently used Algo in December for the sale of two cars. Shift does not service Michigan, but I was at least aware of them. Just for a data point, I submitted my 2021 Camaro LT1 today to givemethvin and to vroom for comparison. Givemethvin quoted $33,000, and Vroom was $29,900. Pretty …

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