So BMW is now kaput for 3rd party buyout. They were allowing it until October 1. I’m doing a lease assumption so I am OK. I had done a price check on KBB.com and from that a few BMW dealers called me offering to buy my car, but for several thousand less than my buyout. And they would not commit to the sale unless I also purchased a car from them. No thanks.
Sorry to bring up an old post- but does anyone know what an Ally certified store is? Some dealerships are telling me there is no different price- a 3rd party dealer is a 3rd party dealer (as in no difference between Carmax and the Toyota dealer I leased my Ally lease through) any help would be appreciated! The 3rd party payoff went from 30k in June to 36k last week.
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Must be floorplan dealer in good standing
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Must have qualified by hitting their Tier 2 retail volume goal 2 months prior.
For example, October qualification to buy leases for 500 over RV is based on hitting tier 2 in August. The tier 2 retail volume that must be sent to Ally varies based on store size and planning potential
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Thanks! So is there anyway to find this list? I’m assuming if I call Ally they won’t tell me where to go to so they get the least amount of money lol.
Unless you have a relationship with that dealer - you’re unlikely to be able to make this work.
Unless they really want your trade, they have no need to disclose their status to you.
I sold it to Driveway, they originally gave me a scripted answer saying they cannot buy out Kia/ Hyundai leases but told them I spoke with KMFUSA and they said they allow leases to be bought out by 3rd parties. The Driveway rep spoke with her manager and apologized and said they can buy the Kia lease. Driveway came 2 days later, picked up the car and the transaction took only 15 minutes.
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Were they the highest? Or were they the only ones willing to buy it.
I am looking to sell my Kia K5 lease. MyCarAuction gave me the best price and when I asked them today if they could purchase a Kia lease they claimed to be the only one that is currently able to do so. They are scheduled to come inspect the car on Monday. I did try Driveway but they wanted to do an inspection before giving a price.
I’m considering selling my leased Audi…Does Audi Financial require you to purchase a lease or new Audi in order to sell at the “normal” payoff (the one I can see online)?
Also, do we think any of these banks are going to relax a bit and start allowing third party purchases perhaps in Q1 2022?
- Payoff you see is only for Audi/VW and maybe Porsche dealers. (All VW Credit)
- Relax? No, Even make harder? Oh yeah.
MyCarAuction came and inspected my Kia and the process could not have been easier. They gave me a check on the spot for my equity minus $1000 they hold until they receive the title. They also have you hold onto the car until the process is complete. They aren’t all over the US quite yet but if you are in Western US I highly recommend them. Crazy to get $4700 equity on a car I leased 4 months ago with $2000 down.
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Lol so does bmw and infiniti allow third party lease buyouts? Seems to have differing responses on this thread. And in california are there tax implications to buying out ur lease yourself then using proceeds to buy new car? Since I got a bmw and infiniti and neither seem to be on the “allow third party” list here.
Any help is appreciated fam.
Neither allow 3rd party buy outs currently. Things have evolved as the thread has gone along.
CA has a process for getting your sales tax back if you resell immediately after purchase. There are a few threads here that go through it in detail.
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Thanks broski. Will search for the cali sales tax threads
Vroom no longer accept lease buy out - you’ll need to have the title and registration on hand if you’re going to go through vroom. 09/25/2021 - verified user
Lenders that DO NOT Charge a Different Payoff to Third Parties*
- Chrysler Capital - @Eastcoastguy 6/15/21 (not within 60 days of lease end)
- Credit Union Leasing of America - @RVguy 6/15/21
- Jaguar Land Rover Financial (Chase Bank) - @ethanrs 6/15/21
- Hyundai Motor Finance - @Ericsnow25 9/18/21 (see post 248)
- Kia Motors Finance - @Chris_Tuner 10/4/21
- Lexus Financial Services
- Mazda Capital Services (Chase Bank) - @michael6/15/21
- Mazda Financial Services
- Porsche Financial Services - @Rulnick 6/24/21
- Subaru Motors Finance (Chase) - @manku 6/18/21
- Tesla Financial - @Dwing047 6/28/21
- Toyota Financial Services -@dizzledizzle 10/7/2021
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Are “normal” dealers (not companies like Carvana, Vroom, Shift, etc) allowed to purchase vehicles with the title that still has the Lessor on it (though of course the lease has been paid off and the Lessor signed off)?
For example, if I pay off my leased Volvo S60 and receive the title in the email that still lists VCFS (signed off to me), are some dealers (used car dealers that aren’t franchises of any particular manufacturer) typically open to buying the car with the lessor still on the title? Yes, I’ve seen the CA 10-day threads and understand the resell permit / refund methods…but selling with just the Lessor title seems nice for lazy people 
Most dealers will not purchase with a lessor released title.
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This is what I get on Carvana now…
Leases can be tricky
We love buying cars from our customers but Hyundai Motor Finance policies prevent Carvana from paying off your current lease, which stops us from purchasing your car. This bums us out too.
You may be able to pay off your lease and then sell us your vehicle. Our Support Center has more information about your options and next steps.
Mycarauction was able to payoff your Kia lease? Did you lease with Kia financial?