List of Lenders that Allow for Third-Party Buyouts

[jeisensc]

@Jason_Piazza

This thread is too long and too confusing to follow.

Scroll up to the first post

@Jason_Piazza

I have about $8k of equity in my 2020 Jetta if I were to sell it on my own (residual is $16k; it’s a SEL Premium in great condition). I should be able to get $5-6k as a DP towards a new car if I were able to trade it in when transacting on a new car. Where do I find out what the new standard is in a succinct, easy-to-understand read?

@michael

Lenders that DO Charge a Different Payoff to Third Parties*

• Audi Financial Services
• VW Credit

[mllcb42]

@Jason_Piazza

The contract said nothing about “this price is just for you”.

Im yet to see a contract that specifies anything other than the price that is just for you.

[Jason_Piazza]

So the changes to previous industry standards that went into effect in 2021 are still in place?

I did read the initial post but that was over two years ago. I have to imagine that these unethical practices have stopped. Guess not.

Guess I’ll have to call VW and find out how I can navigate this. I’ve literally done this 6 times without issue until 2021.

[Jason_Piazza]

Have you leased cars often? None of my contracts said that, not even my Ally lease. I read them all in 2021 due to the injustice I was served at the hands of a greedy, lying lessor. I negotiate large commercial real estate leases for a living. I know how to read legalize and negotiate contracts. This clause is not standard in auto leases. It may be now but it wasn’t before Covid

[jeisensc]

@Jason_Piazza

changes to previous industry standards that went into effect in 2021 are still in place?

Every captive is different

@Jason_Piazza

I have to imagine that these unethical practices have stopped. Guess not.

You are renting the captive’s property, they decide what the terms are for selling their property. You can still exercise the right buy out your lease yourself at any time. Just like the assignment clause says you can’t sub-let it, some have changed their policies to not allow 3rd party buyouts at all, or not at the same price the first party can buy for.

@Jason_Piazza

I’ll have to call VW and find out how I can navigate this.

Why wouldn’t you start by calling the captive instead of asking an Internet forum? If you want validation that the practice is what it is - it is. When people report differently we update that post. Not everyone charges more for 3P buyouts (eg Chase), but VW/Audi do. Vote with your wallet and your signature next time,

[mllcb42]

@Jason_Piazza

Have you leased cars often?

Yes, and read all contracts

Show me a single contract that specifies the purchase price a 3rd party entity is entitled to for a buyout. It doesnt exist.

The contract specifies what you can buy your lease out for and says nothing about what others can buyout the lease for.

[Jason_Piazza]

Why wouldn’t I call the financial company first? Because getting answers from forums is often a lot easier then sitting on hold. Further - I always prefer to know what’s happening in the market before I start negotiating. Its important research.

I found this thread because I wanted to know what was what with buyouts. Now I know. Different market. Different standards. New info is required.

Thanks all for your help. It’s very appreciated.

Cheers!

[Jason_Piazza]

You sir are right. I stand corrected. Just found some old images I sent around in ‘21 of my Ally contract. Still - the standard practice has changed and that switch in ‘21 was a bit of a shock to industry veterans, at least according to those I consulted at the time

[Mickey1]

I have a 39 month Infiniti lease that originated Sept 2020 and ends Dec 2023. They instituted their “no third-party” clause after my lease started. Does this mean that I’m grandfathered and can still claim equity for myself by selling to the highest bidder?

[forbs]

@Mickey1

Does this mean that I’m grandfathered

Nope. You can sell it to a high INFINITI/Nissan dealer easily though.

The policy you are mentioning affects all current and new leases regardless of inception.

[Yury_S]

Should I pay taxes if my MB GLE350 will be buyout in CA and registered in 10 days?

[mllcb42]

Yes, but if you sell it within 10 days of receiving the title and follow the proper steps, you can get it back.

[rob123mark]

Trying to sell a JGC with an ally lease in Maryland and it seems to be nearly impossible. The buyout they have Carmax was almost 10k over market value.

Any people I should contact that could be interested?

[burntoutmedic]

Try @Anthony_Lopez

[harrydogyo]

You can also try some Ally dealers Find Auto Dealers Near Me | Dealer Locator | Ally

still a crap shoot with them though. @Anthony_Lopez is your best bet but you’re probably underwater.

[rob123mark]

Yeah it seems like I could break even if I buy it out and then flip but that’s just another hassle.

[forbs]

Your best hope is take it to an Ally Dealer and see if they can use the equity for your next car

[derekoh1991]

Can a Mercedes leases be traded into non-Mercedes dealership?

[HersheySweet]

Yeah they can. MBFS charges them same payoff as customer too.

MB can now allow the Third-Party Buyout

I just contacted mb finance and would like to share the news that Mercedes finance now allow the Third-Party Buyout. I did get quote from carvana and vroom. But when I checked shift, the website says they cannot buy my car. Can anyone sugguest any other way to get a quote from shift? Update: The online car selling company all acts very slowly. Even if MB finance allow them buy the car, they are still saying they are not able to buy the leased car until further notice. Thanks!

[Sydla]

It’s been said Chrysler Cap will let other parties buy out leases but like you, I had a terrible time trying to unload a previous Grand Cherokee Overland a few years ago that was nearing lease end. One non-Jeep dealer was quoted market rate thousands above my buy out.

Ended up not being much of a problem because at the last minute, a local Jeep dealer came up with a sweetheart lease deal on a new Grand Cherokee and they were given my buy out price by CCAP.