As the OP on this one, I thought I would give an update. If it belongs in the Share a Deal section then mods please feel free to move.
First, I only had until the end of June as it was, so I decided to get right to work to take advantage of the equity in my Pathfinder. Got lucky last week and was able to find a dealer willing to give me a 9% pre-incentive discount on a CX-9 Grand Touring. I had tried for 10%, they countered with around 7%, and we agreed on 9%. Literally done within 3 emails and less than 2 hours. I figured it was the best I was going to do, so I jumped on it. Picked up the car on Saturday and love it.
I know the CX-9 3rd row is a cause for concern, so I will just say that I put my 2 kids and 2 of their friends in the 2&3 row. The 3rd row is not roomy by any means, but if you are just carting kids around for relatively short distances, it does the trick.
As for my Pathfinder, I had an initial offer for approx. $1,500 over buyout from Algo and $1,100 over buyout from Vroom. I talked to the Mazda dealer about it, but they were not willing to go above buyout (which would have saved me disposition and any wear and tear, but no “profit”). Decided to go with Algo. They did the FaceTime appraisal and at the end asked what I was looking for. They were my best offer, so I told them I was looking for their initial offer, worried they might go down. They called me back a short time later and told me they were going to increase their offer by $500 more. OK.
This was on Tuesday. Pathfinder picked up last night and a check for over $1,900 dollars in my hands. Assuming everything goes smoothly with Algo and NMAC, it could not have been easier.
Now I am seeing NMAC is ceasing 3rd party buyouts next week. Sometimes you just get lucky (I hope).
CPJ agree exactly with out CX-9 GT, just passed 1000 miles and my 6yr old loves the 3rd row when his grandparents ride in the 2nd. My few complaints are lack of storage up front besides the cupholders, no wireless apple carplay or android auto, no big deal, no panoramic sunroof but the regular one is fine.
Good drive so far, glad we went this route.
Was lucky to get the 10.25% off MSRP, 9% is really solid too!
As to your first question, I was very specific with Algo that my lease was through NMAC and that it expired at the end of June. I gave them a copy of the buyout letter from NMAC. They said it was not a problem. I guess I am assuming the fact they picked up my car and handed me a check (which I have deposited) would imply they believe everything is good? Maybe I have a big headache coming my way, but I hope that is not the case.
As to the second question, I was going only on what I read here. I have no independent knowledge of this.
Third party buyouts are a courtesy, just like lease transfers - either can, and have been, stopped at any time. Lease agreements typically do not state anything specific to transfers or third party buyouts. The lessor’s (bank’s) agreement is with you, the lessee, based on what’s in the lease agreement.
Anyone confirm that NMAC third party buyouts stop next week? I chatted with NMAC a moment ago and they said it took effect yesterday with no exceptions. So now it’s a timing game as I have a great offer from CarMax.
I’m going to call back to NMAC and see if I get the same answer from a different rep.
