Would not recommend selling your lease to these guys.
They paid off my BMW lease and when they sent me my equity check, it was $1,500 short. After being ghosted for a few days after following up with them multiple times, they are now telling me the dealer they used to buy out the vehicle charged them $1,000 to process the buyout, and they will issue me a check for $500 but that those $1k are the “cost of doing business”.
I was never informed of this “cost” and would’ve never agreed to sell them my car if I knew I would be getting $1k less than the agreed upon sell price. I checked the BBB and saw a complaint about the same exact thing happening to someone with an Acura I believe. The person I’ve been working with told me they would bring my case up to management but doubt anything will get done.
Yup! Since my post, I’ve been in contact with another member on here who experienced the same exact thing. This is not a one-off case, Rodo is knowingly and deceptively purchasing these vehicles from people without disclosing all the fees that will be incurred.
I’ve also learned that there’s more to it than just the fees they are hiding. I’ll update this thread once I make some progress on recouping the money that is owed to me.
Sad part is I’m sure they inflate payoffs and get away with it 95% of the time. Very few people would have access to dealer payoffs or would even think twice about it. I’m sure there’s tons of people with similar experiences. Hope someone really torches them publicly about it.
I was going to contact the one in NY being that that’s where they’re based out of, but I may try and start with the one here in CA and see where it gets me.
Sold them a Mercedes a lease and so far everything has been top notch. I’m on the other side of the country (PNW) and from offer acceptance to pick up was 6 days.
5/4 offer accepted and paper work submitted
5/7 confirmation of payoff and equity check
5/10 vehicle picked up
5/16 equity check received in mail
My last real worry is that my payoff goes through before lease end on 5/29, which they assured me it would. If all goes as planned, I couldn’t recommend them enough.
I let them know my concerns about equity checks coming back short or added fees being tacked on. They did try to downplay a small $500-$1000 fee and I said no way. Made one phone call and received an updated equity quote in writing via email. The check I received was for that exact amount.
Will update again if lease payoff goes through in time.
Reached out last Monday. Signed paperwork Weds returned to Rodo but still waiting on them to sign and return Bill Of Sale back to me. Am supposed to hear from delivery service for pickup next few days (hopefully). If all goes well will have bought out an Infiniti lease in Fla, got paid for equity and didn’t have to go to dealer. Will update as time progresses.
this is exactly what I detailed above. With my purchase to them, it turns out they also forged multiple signatures and used a completely different bill of sale than the one I had submitted to them. I would stay away from them.
another member on here reported it to the attorney general but hadn’t heard back last time I checked with him. he also reported his findings to BMW corporate and they didn’t do anything. considering Rodo is based out of NY and I’m on the west coast, I feel like it will be difficult to get anything done. the dealer that the car sale was processed through is also well aware that Rodo used forged signatures for the buyout but they honestly seemed to not care.
I’m planning on submitting a complaint through the BBB this week to try and get the $1k that is still owed to me. I asked the dealer for the $1k as a goodwill payment considering they’re they’re the ones who charged Rodo the fee and know now that forged docs were used. they said no.
Rodo’s CEO and entire management team are all well aware of what the company is doing, this stems all the way from the top.
Rodo offered a high number on my LT1. I ended up pulling out of the deal because they insisted GMF was making them pay tax on the vehicle purchase, which cut down on the amount of my equity check. Just some additional info for the thread.
Sold them my e450 earlier this year and everything was as agreed although they did send about 1k extra to mbfs which they refunded me but recently quoted 29k buyout on the bmw when my portal shows a bit over 27k took 3 messages asking directly if they charged any fees before they sorta answered saying they dont have a breakdown on how their affiliates come up with their buyout amount. Big difference between big fee or just sending extra to make sure payoff is enough but not comfortable continuing without a clear answer.
Yeah, I was never able to get the complete breakdown of the buyout. For my Audi, they were like yeah there’s a 800 fee for it, but they were quoting 1500 less than the dealer, so who knows.
