With this approach soon will be nothing to lease…
LOL
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Someone just reported on the 4xe thread that Carmax isn’t taking CCAP anymore.
Uh oh, all those people who were hoping to flip a 4xe.
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I tried selling my US bank lease to autonation and they got a quote 8k higher than my buyout from them…
I would ask for an itemized break down printout for each buyout and verify what is causing the difference.
Its us bank, thats whats causing the difference 
Yeah from my understanding the only way for me to take advantage of the trade in value with a US bank lease is to buy it out right and sell
They charge dealerships market value if they want to buy out their lease.
Same goes for pretty much all credit unions.
You’re only option is to buy it out yourself and then sell it.
How does 3rd party buyout play out when Carvana offers more than the payoff? Do they write a check , to LFS for example, and LFS cuts me a check for the remaining , after the payoff ?
Carvana will write a check to LFS for payoff amount and they will write another check to you for the equity amount based on the offer you agreed to over and above the payoff amount.
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I may have just made it in prior to the cutoff but I sold my Hyundai to Carvana 9/3 and it went through without any issues. Received the positive equity check and also confirmation from HMF of Carvana’s lease buyout.
Just wanted to provide the data point.
I did get the initial offer in early August prior to any noted changes.
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Yeah it sounded all pretty recent - I checked with Carvana and they had to check first, then confirmed they’re on hold with Hyundai. It sounded like it might be temporary.
I’ve gone ahead and purchased the car outright and Hyundai is a massive PITA to deal with, so maybe everybody is just boycotting them. Took several days to cash a cashier’s check, then trying to get the odometer statement confirmed takes “3 business days” for an arbitrary reason. They only accept fax, which is ridiculous, can tell they just keep doing things a certain way to reach maximum inconvenience. Can’t even confirm if the fax been received for 3 days (their worthless backoffice deals with that). I’m done with Hyundai after seeing how bad their customer service is - no excuse not to quickly release a title once the car has been paid off.
Once I’ve paid for the car, I assume it’s technically mine while waiting for the title transfer. Anybody have any luck selling the car in this limbo period without having the title in possession? Specifically Algo or Carvana, I know Vroom says that they want the title to be in your possession for 14-days (curious why the wait).
Ally ONLY allows third-party buyouts by the dealer who leased you the original car. if they don’t buy it they then put it out through their own wholesale market. On my 2019 Z06 Corvette with 6000 miles my buyout with one month left on the lease was about 55,000+ taxes so a little bit less than 60,000. If the dealer I turn it into wanted to buy it the buyout was just over 90,000. So yes they do bend them over. It’s well known that many of these companies are now realizing they can sell the cars for a lot more than the true buy out by the individual and that’s why they are going to make the money either by screwing the dealers or putting them on the open market. I took my car to six different buy it now type services and I was offered $28-$31,000 over what my payoff would be. All I had to do was pay off the car and the dealer would immediately hand me a check for $28-$31,000. Not a very tough decision.
Also, a senior Carmax manager told me that some companies including Ally, will not sell any cars to them at any price.
Confirmed mbfs doesn’t allow third party dealer payoffs starting September 1.
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I noticed that Volvo isn’t on either of the lists. Anyone have any recent data points?
Not sure why Hyundai motor finance is tied to Kia? I know they’re sister companies but it’s not smart to just assume Hyundai and Kia are both doing the same lease buyout practices… anyway…
Just had a third party dealership (buying an F-150 from Ford new) buyout my 2019 Hyundai Santa Fe. Called HMF and spoke to 3 different reps who confirmed Hyundai has NOT changed the rules. They were able to send a letter confirming this to the dealer I’m buying from. The reps said they knew it will probably be changing, but has not changed.
Got the lease end $21 check from HMF yesterday. Also a letter stating I’m no longer responsible/liable for the vehicle as the lease was bought by the dealer.
Might wanna take Hyundai off that list.
They mightve had a hyundai dealership under the same owner
Kia uses Hyundai Financial for leases
They do not sell Hyundais. It was a huge thing and the Ford dealership thought I was gonna have to buy it out first….but we called and got it in writing that the rule hasn’t changed.