Lenders that DO Charge a Different Payoff to Third Parties*
Audi Financial Services
VW Credit
Ally, US Bank, GroovCar, and CAL
*Note some lenders do not charge participating dealers a higher payoff, so it may be worth exploring selling your leased car to a participating dealer or through Equityhackr .
It’s their car, not yours no matter what you think, so it’s legal
Nope, ally has been doing it for years even before the pandemic.
Other way around, anything in the contract they are legally obligated to do, anything else they have free reign.
If they could, during the Carpocalypse they could stop people from buying the leases and sell them at auction for more money…but they are contractually forced to allow you to buy it at RV, but not contractually forced to let someone else buy it at RV.
Ally is great for rates and payments (sometimes), but unless you intend to buy it they will not help you in any way.
If you had more than $1500 (more like $5000) then there are ways like Equityhacker, but this buyout is too low.
Hey thanks for all the replies and insight. I think the part about them being contractually obligated to sell it to me at RV but not obligated to sell it to a third party at RV would make sense.
Any way to get around the third party markup that US Bank has on selling their leases? I keep hitting roadblocks and would like to sell my 2019 Wrangler or trade it in for some respectable equity
Sold my wrangler to a toyota dealer. Us bank often quotes taxes as markup. They did that to me. Had to escalate the support and got someone who allowed them to buy it out for my price. Locked in equity on the trade.
Not sure if this needs to be updated.
IMO Hyundai Motor Finance allows 3rd party dealer buyout, but not every 3rd party dealer wants to deal with them LOL.
Last year I sold to Driveway one leased Hyundai and yesterday i got another quote for current Hyundai lease from GMTV.
I’m planning to sell my leased ES 350 to Carmax. I just spoke with a sales rep at Lexus Financial, however, who told me that they will not allow 3rd party lease buyouts. Carmax insisted they can buy out from Lexus… not sure who’s right, but I’ll be at Carmax today to find out!