It’s all about how governments are going to handle the virus. If they realize that at this point, with the vacs we currently have, this virus is no worse than the regular flu and open up everything then we get there sooner…unfortunately I don’t have high hopes for that to happen.
The lack of car deals is more related to the continued supply chain shortages and related production suspensions we’ve been experiencing. If anything the opening of the economy has kept demand strong which has exacerbated the issue.
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My life got mess up with leasing ever since I missed $50 Chevy Cruse😂
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you missed $37 nissan leaf too.
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OMG! I completely forgot about that one! I don’t think we will ever see them again. That was the one that beat the unbeatable 500e $50 deal.
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What about the Lexus UX?
Most of cheap Nissans and BMWs weren’t achievable to me due to being in CT or not having loyalty.
Plus can’t have full electric since my building doesn’t have stalls to change and don’t have time to deal with public charging stations.
But the 3 cars that I’ve lease in last few year completely screw up my thinking while trying to asses deals last few month…
Sill, prices for 3-row SUV these days blows my mind…
It was never $37 effective unlike the sub-$50 or free Cruze (or below $0 considering the Costco gift card).
Wasn’t there another from Chevy that got to ridiculous levels…Malibu?
Trax?
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Malibu got to sub $60 IIRC which was unheard of for anything larger than a compact
Bolts were crazy if you stacked state or 3rd party rebates on top of a great deal.
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weren’t Equinox around $100 at some point? or maybe that was Buick Encore
All these deals make me nostalgic of the days of the past but I don’t know If they even come back in 2-3 years…
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Don’t forget the fire Sale on the Terrain a few years ago with Asian conquest.
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Hey all,
My wife and I both have 2019 Chevy Equinoxes on a lease ending 10/31/2021. As I’m sure most of you are aware, GM is one of the companies preventing you from trading a car into non-GM dealerships. Neither of us want another GM vehicle. We were told by numerous dealerships that we have equity in our cars. We set an appointment with a Chevy dealer that said they would appraise our cars to buy them outright. Their appraisal amounts (along with the current residual value and a Vroom quote) came out as such:
My car:
The residual value on my lease - $16,101
Their appraisal - $15,000
Vrooms quote - $19,510
My wife’s car:
The residual value on her lease - $20,136.70
Their appraisal - $16,000
Vroom’s quote - $23,107
Obviously, if you do quick math, we would have to PAY them to buy our cars. Vroom is offering a MUCH better incentive but I can’t have a non-GM company buy out my car. I’d like to capitalize on the equity in my lease. Is there another option I haven’t thought of?
Thank you all for your help!
You can buy your cars and sell them after. Also reach out to more GM dealers for quotes.
surprise surprise. GM dealer without third-party competition offers a non-competitive quote 
Definitely check some other dealers and see if you can get closer to the third-party offer. If not, the other option is to buy it yourself and then resell it to a third-party. In that case of course the sales taxes will eat into your profit a little bit.
I am curious how what they’re doing is even legal. I could see it being disallowed for leases taken out after those restrictions were put in place but how can they do it when the terms you initially leased the vehicle allowed it or at least didn’t specifically prohibit it??
If you live in a state like mine the thing that really stinks about buying it only to sell it is that I would guess you have to pay the sales tax which eats up a lot of the “profit”!
Yeah I’m going to reach out to more dealers. Do you happen to know how quickly the process of buying the leased car and then reselling it right away can happen?
I 100% agree that this shouldn’t be legal. I have a document that says I can buy out my car… it doesn’t make sense that they can’t allow me to use someone else’s money to buy out my car!! 
Pardon my ignorance here, but you mentioned that I would have to pay sales tax if I resell the car.
But wouldn’t I have to pay sales tax on the vehicle if the dealership bought it directly from me (without a trade-in) anyway?
No, you wouldn’t.
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