Hello LH community. I currently reside in TX and get a job in NYC. After check the garage price in Manhattan(the cheapest parking is 500/month nearby my working location). I decide not to take my car to NYC.
However, currently I still have 18 months left for my current lease. It seems like I am not able to sell it to third party like Vroom, Carvana etc because MB ban it already. If I decide to end my lease early and sell it to Equityhackr or MB. I am not sure if the below calculation is correct. The check I will get would be car value(decided by Equityhackr or MB) - monthly payment *18 – lease buy out price(the one showed in my lease contract).
Please let me know if I understand it correctly and I really appreciate you guys help! And any suggestions will be super helpful!
Appraisal Price - Current Lease Buyout price which you can pull through the MBFS app or if you call them.
Best way to exit a MB lease early is to let a MB dealer buy it out. Most are looking for inventory and would be happy to buyout the lease from you. Just call or email and ask them to make you an offer.
You should be able to find your current buyout on the MBFS website, but note this includes the tax you would have to pay when executing a personal buyout.
Thanks bro! This is helpful. It seems like I will get more than Appraisal Price - Current Lease Buyout considering the sales tax is already included in the buyout price. I will send the messages to the couple local MB dealers to see what they will offer.
I got a check for 1k and walked away. Ok after 18 months.
The tax on the full selling price was paid on lease inception in TX, so there won’t be sales tax at buyout. At least that’s how it works in VA.
We are supposed to pay entire tax on the full selling price on Texas and we are supposed to pay the tax again after buy out. Texas is the worst place to lease a car. Thanks for the infrmation in VA!
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