OK - thanks - I was just confused by the original post where I thought it said that BMW FS was one of the lessors where you could not do this. Thanks again.
It did, because there were some early reports that they were stopping buyout, but then it got clarified that they were just stopping allowing 3rd party dealers to request the buyout price and it hasnāt been updated in the first post. Unfortunately, some brands got added and then clarified and arenāt accurate yet.
@michael please add Audi to the list. I contacted Audi Financial Services yesterday and the rep confirmed they do not accept 3rd party payoffs. They recommended that I pay it off myself and then sell it š¤¦š»:joy:
Anyone know a loophole to this? I am in So Cal.
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audi was added to the list 6 months ago.
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Audi has never been on the list for not allowing 3rd party buy outs, simply that they charge market price to 3rd party dealers.
Nomenclature here is very important. You must differentiate between a 3rd party private party buy out and a 3rd party dealer buy out. There are no banks that allow a 3rd party private party buy out. A common point of confusion is when a bank publishes their buyout info and it says āno 3rd party buy outsā. Generally, this is referring to 3rd party private party. BMW and Honda, for example, have had that published for years.
I suspect, unless you were sure to clarify, that the Audi Financial rep you spoke to said āno 3rd party buy outsā but meant āno 3rd party private party buy outsā.
so basically the same thing then?
So I have a buyout question
My ram lease is thru ally and my payoff is 43k. Dealer payoff is 49k
So I would have to buy the car and then sell it to the dealer for whatever off they have.
If I were to lease a new car thru them or purchase would I have to pay taxes since Iām getting a new car?
Also could they facilitate all that. Ieā¦ buy it for me under my payoff then sell to them directly
Yes, you have to buy it and then you can sell it to whomever youād like.
Depends on what state youāre in
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Carmax not buying out HMF leases is killing me.
What companies (outside of select dealers) are willing to deal with Hyundai Motor Financial?
Sold my G70 to Algo no problem.
Made money back on a bad lease.
But this was in July. Not sure what has changed since then.
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Not sure if this will go through, but Iām at carmax and they said they will buy my Kia lease. I also called Kia finance minutes before getting here and they also said I can sell it no problem, just needs a 3-way phone call.
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Did carmax buy your leased kia?
Kia did not let them buy. I actually got a better offer from AutoNation, same storyā¦ We were on the phone with Kia they said we could go through no problem.
At the end of the call when the dealer was getting the overnight address for payoff the guy was like, āhold on you are not a Kia/Hyundai dealer, you canāt buy this carā and he said they could at the beginning of the call. It was real strange, we walked out and Hyundai dealer same block matched the offer. Luckily I was able to sell this way.
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HMF tells me to call the dealer.
The dealer wonāt give me the buyout number ābecause Iām just going to sell it to a different dealerā.
What a scam.
There is a lawsuit brewing.
What are my options?
A lot has changed.
You can get your buyout online in your HMF account. Anyhow, I sold mine to an Autonation dealer shortly after my previous post. They had no problem verifying the numbers (with me present) and then processing everything. With that said, things could have changed quickly. Hope you figure it out.
I can rough calculate it, but when I click to get the payoff it says ācall your dealerā.
The finance guy at the dealership literally just hangs up on me.
So with KMFUSA, I was able to sell my kia stinger to Driveway no problems at all. places that say they canāt or wonāt is just giving out a blanket statement without actually checking if they can buy a Kia car 3rd party. I can see my buyout personally myself online (Which includes sales tax) and driveway was able to cal KMFUSA to get buyout without sale tax included.
Top list should take KIA off fromm not allowing 3rd party buyouts. I was able to sell my leased kia stinger with no hassle
I leased an Acura before Honda/Acura announced that they will no longer accept third party buyouts.
Does that mean that I am still able to sell my car to a third party? Or am I out of luck?