I have a Volt that I leased in 2018 with a one-pay through GM Financial. We don’t use the car much anymore (working from home now), so we could sell the car to a dealer like CarMax now even though the lease term is through early 2021. Another option is to buy the car for use ourselves and sell one of our other cars; this would make more sense if we can negotiate a better price than the residual as stated in the contract. We have only used about half of the allotted mileage.
What is the earliest that I can purchase the car or engage in selling it to a third-party like CarMax?
Will GM Financial negotiate the buyout price, or do they stick to the residual as stated in the contract?
There’s plenty of recent experiences - search LH for Vroom, Carvana, etc. You can buy it out anytime. You need to ask GM Financial for your buyout price now. There may also be a dealer buyout price that only a dealer may obtain.
You can try, but there have been little (no) success stories. GMF will give you your exact buyout now, and it’ll likely have taxes added. Good luck
So I sold my car to mycarauction but haven’t got the title yet froM GM financials.
However mycarauction gave me full check and I was able to cash out the money.
Now the question is should I give them my car or wait for the title to come?
If I give the car to them who is liable from here onwards? Me or mycarauction ?
Do I still need to keep my insurance while I get the title?
