Bring the Carmax firm offer sheet with you. Maybe the Nissan dealer can match the offer or come close and you can walk away hopefully with some equity or at least break even.
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Good plan, thanks Walper.
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Thanks. I am assuming things were and are far enough along there won’t be an issue, but I’ll probably stay a little concerned until I see my NMAC account zeroed out.
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Also, as stated above, and obviously different states have different laws etc, but make sure that Algo sent the check to the right place. In Florida, NMAC can’t accept the payment, it needs to be sent to a dealer. Not sure where you are located, but double check with NMAC and Algo.
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I am in New York. Does anyone out there know the deal? Good advice and I will follow up on that when I get the chance.
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Got to love Florida and select states that have such great policies.
/s
NMAC like any other captive is at the mercy of that state
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So I got a call from an NMAC supervisor today and she said the policy was supposed to go into effect last week but then they extended it another week because all their reps weren’t properly trained (I could have told you that.) So I said so you WILL allow Carmax to buy out my lease if I do it this week? She said yes. I got her info and extension and everything. I was excited, so I called CarMax in Omaha (where I live) back and the guy told me they received word this week from Nissan that they cannot do this anymore. I told him I literally just talked to a supervisor who said they extended this. He argued with me and refused to listen. I asked him if he could call NMAC and speak with the person I talked to. He refused and said he didn’t have the staff for that. He said he wasn’t going to go around in circles with me and hung up on me. So this is the first bad experience I’ve had with Carmax. A few minutes later someone else from the same Carmax store (presumably the first guy’s manager) called me back and he said he just talked to Nissan and they couldn’t do it. He said if he could buy my car they would but Nissan does not allow third party buyouts on leases. I told him well, I don’t know, I guess they can’t get their internal communication straight at NMAC. So I gave up and tried to call the NMAC supervisor back and left her another message describing my Carmax experience.
TL;DR: NMAC doesn’t know WTF is going on.
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I sold My Murano to givemethevin on 4/20/2021 , they send the pay off check on 4/29 but it seems Nissan did not cash the check or closed my account.
I called them today and was told the same thing, I am just hopping they release the Title, otherwise not sure what will happen!
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I’m getting fricking sick and tired about being jerked around by both NMAC and Carmax. I feel like they are playing ping-pong with me. I may just see about a lease buyout through a local dealer and then I will at least own the car and can get it re-appraised and sold later on.
Time to let it go. Carmax is not buying your Nissan.
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Depending on where you live, NMAC can’t accept the check directly. Same thing happened to me but I gave them the benefit of the doubt and gave them about 3 weeks until I got charged with a late fee on my next payment. Called NMAC and was informed (at least this is the case in Florida) NMAC can not accept payment directly the check needs to be mailed to any Nissan dealer and they deposit it on behalf of NMAC and then the dealer notifies NMAC and the account gets closed. Meanwhile, Carmax sent the check to NMAC and they were just holding it for about 2.5 weeks without notifying me or Carmax of the issue. I called Carmax and they cancelled the first check and reissued a new one to a local Nissan dealer down the street and in about 3 days the account was closed.
This is a Florida thing a does not apply to most states. There may be one or two others.
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Try and see if that local dealer will buy the car from you without you having to pay taxes and dealer fees.
Exactly why I said “at least is the case in Florida”. Op could be in Florida or another one of these states.
The General Manager at the dealer down the street said they could “ground” the lease there. So I can either get financing through them or on my own (Lightstream would be my pick). Then I’d get the money, take it to them, fill out the forms or whatever, give them the money. They’d pay off NMAC and send taxes to the country, then I get the title within 4 weeks or so. I guess at that point I own the car and can take it to a place like Carmax if I choose. No matter what, I’d have to pay the taxes. The GM at the dealership said there’s a $75 NMAC fee but no dealership fees. I don’t really think the dealership gains much from doing this.
What state do you live in
That dealership could also directly buy it out from you as this isn’t a 3rd party buyout. With added taxes vs a lower appraisal from a dealer than Carmax, it might be close to a wash in terms of equity, time spent, credit hit for the loan etc.
I’m in Nebraska
Walper that is an option, maybe, though a different dealership here in Omaha refused to that, but I’m asking the one I’ve been talking to.
Yes call around. When I was first getting quotes from algo, Carvana, vroom (didn’t know at the time Carvana didn’t work with Nissan) my offers were in the 16k area. I called the dealership where I purchased my car and they offered to buy it at about 15k which I said thanks but no thanks. Fast forward about 2 months and the used car market went crazy and Carmax offered 19,1k. I went with Carmax obviously, but I feel if I had reached back out to the Nissan dealer they would have probably came up to about 18k maybe even higher if I presented the firm offer sheet from carmax. Hope you can find a willing dealer!
Dealership GM is very fast about replying to emails and he said he couldn’t come close to Carmax but I told him throw me a ballpark figure anyway and asked him about the taxes.
Hey, at least he communicates via email and hasn’t tried to jerk me around, which is more than I can say for anyone else in this whole thing.