You are still able to dispose of your lease in all of the manners that are listed in your contract; that is, you can buy it yourself or turn it back in to Honda.
There’s never been any contractual obligation for 3rd party buy outs. It’s always been at the bank’s discretion. So yes, you’re out of luck.
Honda or Acura dealer can buy out lease.
FWIW I’ve found most dealers are getting pretty close to what CarMax is offering. Although you might lose out on $1000.
Kia dealer telling me they can’t purchase the Hyundai lease, but I can turn in the lease early for no fee.
Car dealers are scummy.
I wonder how it feels to have a job where your only goal is to see how much you can rip people off.
Who did you sell it to? Who is currently buying Kia leases?
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.
Must be floorplan dealer in good standing
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
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.
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?
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.
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.
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
