Hey Everyone
I have less than 60 days remaining and Chrysler Capitol is refusing to extend my lease. Carvana and Vroom will not buy it with under 60 days remaining…any ideas? If I have to pay tax and buy it and than sell I will. Prefer not to if possible
Thank You!
Try carmax, algo, or gmtv
Carnax is 1200 less but that’s still better than paying sales tax. Do they negotiate? Also are there any others that do not have the 60 day restriction?
Thanks
Carmax doesn’t negotiate their offers. Your best bet is to keep trying the online appraisal if you haven’t physically taken the car in. I’ve tried surrounding zip codes and also +/- the mileage 300-400 as Carmax doesn’t really have a limit to how many miles you drive during the 7 day window. Say your car has true 25200 miles on it. You can put in 24988 as the appraisal for example, and sometimes the offer can go up a few hundred.
Also- verify it is a Carvana or vroom 60 day rule and not a Chrysler capital rule?
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I will verify thanks for the heads up I thought it was a vroom/carvana thing I’ll call ccap to verify
Carvana definitely has a 60 day rule, although ccap may also have that rule.
And replace it with what??
Model Y with 3rd row!
It’s CCAP - they won’t sell to any third party inside 60 days. I was in the same boat a month ago.
Ended up buying my Jeep out through a local Credit Union, so yes, had to pay the tax. There’s technically still a lot of equity left based on current Carmax/Carvana offers, but I’m going to drive & pay it down for a few months until there replacement options aren’t so spotty. I’d love to take the money and run, but still need a second car and don’t really feel like compromising on every dimension of a new deal (selection, features, price, etc) in the current market. Hopefully at some point over the summer there will be a better balance between used car equity and new car lease options.
Have you gotten a trade-in appraisal from Tesla? I have found they are pretty competitive and maybe more helpful to get you out of the lease given you are getting into a new vehicle.
(are you waiting to take delivery after July 1 ??)
Yes they were about 1,000 less than vroom but that was a few weeks ago and vroom was last night so I’m sure Tesla went up as well.
Yes definitely waiting for NJ Rebate I did 1 last year also! I prefer to lease the Y but they don’t let you do buyouts so it makes more sense to buy it since we do super low mileage
Sell a car with positive equity and pay even more for your next car since their is a shortage of inventory.
It’s like the housing bubble we are in. Sell your house for mega bucks and get allllllll the cash offers you can get and then go out and buy another overpriced house.
It’s a lose lose game at this point unless you are selling your house for profits and moving in the inlaws!!!
Or selling your lease for positive equity to drive your 18 year old 133,000 mile toyota corolla then it can be a win win
I don’t believe in bubbles, or shortages, so you are barking up the wrong tree here. Sounds pretty smart to me to sell a Grand Cherokee for positive equity and purchase a Model Y to take advantage of limited time offer NJ rebate & tax benefits.
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I agree 100% here don’t try to time the top of this market. You’ll get bit for sure.
NJ EV $5k isnt back yet
It restarts July 1st as a point of sale incentive.
Tesla is already permitting new orders with deliveries after July 1st to include the rebate.
Thats good to hear, but I wouldn’t count on state not to redirect the funds elsewhere even after all federal funds they received.
NJ Rebate starts again July 1
Also the model Y is pre bubble pricing so it’s a no brainer
And the 7k positive equity on the grand Cherokee that’s due back in a month is a HUGE WIN!
Alternative would be to pay a 350 disposition fee and be left with nothing!
The Charge Up NJ program was passed by the full NJ state senate (Bill 2252) and was funded through 2024 with a target of 330K vehicles. The program pause, earlier this year, was a planned pause to convert from post-sale rebate to point-of-sale rebate. For the program to be defunded, NJ would need to pass additional legislature through the senate, which can take months, if not years. In effect, they would already need to be working on defunding to miss the July 1 date, and they are not, nevermind Biden’s new infrastructure bill at the federal level to help keep these programs funded.
Tesla literally increased pricing today on Model S and Model Y:
- Tesla Model Y Long Range AWD: price went from $50,990 to $51,490
This is something of a problem because the NJ rebate program has a $50K cap.
The Model S is up over $2000 since February.
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This isn’t true in its entirety. Dealers keep saying cars are in shortage so we have to pay more. However, I was able to get a car easily last week, at favorable terms. Basically a broker did the magic.