FEI, don’t even bother with trying a third party buyout with Ally. Personal buyout on my vehicle: $31,500. Third Party/Dealer buyout: $44,500. What. A. Racket.
Carvana will not buy Kia lease anymore. 
“Thank you for taking the time to submit your vehicle for a value with Carvana. At this time, we are not able to move forward with purchasing your leased vehicle as Carvana’s policy does not align with Hyundai/Kia’s policies, and this prevents us from being able to purchase leased vehicles from this provider. Kia recently changed their policy and no longer allows third parties such as Carvana to purchase their leased vehicles. In order to move forward you could buyout the lease & refinance it into a loan.”
yes as of 8/19
1 Like
Only way would be buying it and then sell it? Seems horrible since the dealership payoff is like 6k lower than mine
You get a Carvana quote as if you OWN it, then you take it to a Kia dealer and ask them to meet it.
1 Like
I stopped by the local dealer. Offered me 16000 less than Carvana and didn’t even want to hear about it. I thought that was funny. Kia Niro EV
1 Like
Correct 1010
I wish dealers were this stupid LOL
Its not stupid, gives you a number to shoot for vs, hey man heres my car i dont know what its worth so gimme a number
First thing they do is to check the VIN, and they know there is no third party lease buyout, so you already lose before the talk begins.
How will the dealer know if it’s a lease or loan just by running the vin? The strategy that @forbs mentioned worked as reported by other folks. When I tried to sell my GLC to MB dealers, I got low ball offer when I first mentioned that it’s a leased car. Later on I didn’t say anything and their offer was higher. You can even check with autonation and their offer price will be same regardless if it’s a lease vs loan.
At the end of the day, it’s the dealer who pays the bank, I don’t see any problem with them flipping the deal at the last minute knowing it’s a lease.
Yes, they may not honor their offer but that’s why it’s important to shop around.
Kia dealers only want to sell their junk. They don’t want to buy it.
3 Likes
Would this apply to Genesis Finance too?
Not sure who listed Hyundai Finance as disallowing third party buyouts - I just talked with their 800 number, and they said no problem for a 3rd-party dealer to do a buyout, but Hyundai will only release a payoff quote to the customer (incl. sales tax). He said in the past dealerships could get a quote directly from Hyundai but that process stopped. He said some dealerships will refuse to do it given the little extra hassle, but if they want to payoff the leased car, it will be accepted.
Don’t shoot me, just reporting what they said.
When is this post last updated?
Looks like there are some changes after all.
About a week ago it looks like.
Is this correct statement as of now?
Spoke with Mercedes Benz yesterday. Two reps informed me that they are no longer allowing third party companies to purchase leased vehicles. Apparently this went into effect last week. Seems many companies are headed this way.
1 Like