I’m a college student and I’d rather make profit while the car market permits, then use that to actually buy a car.
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Without that. There’s no way of knowing whether you’ll get more equity as a direct sale of the lease (Equityhackr, Rodo, AUTONATION, Carshop, Kia and Hyundai dealers) vs buying out the lease and selling it to Carmax, Carvana, Vroom, etc.
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Carmax could buy it
Hi Everyone,
Sorry if I’m posting in the wrong place but I have a 2020 Tiguan lease about to end and I just found out about the third party buy-out exclusion. This is still true, yes? I would’ve made almost $8k if they let the third party buy at residual, but if I can’t do that, what’s my best option here in order to still make some equity? I don’t want to go through the hassle of buying it myself and paying sales tax as I plan on getting a different car. Can I sell to a VW dealership? Does VW credit buy it back as well? Should I call them? Any advice would be appreciated. Thanks in advance!
VW and Audi dealers can buy it at your personal pretax payoff AFAIK.
Also try Rodo, Carshop, Autonation and any LH brokers who can process the payoff thru a VW/Audi dealer, such as EquityHackr
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I just sold a 2020 CrossSport (16000 miles) to a VW dealership for a $4000 profit. Would recommend shopping around on the dealerships online. When I found the best offer I drove in and they cut me a check and paid off my balance on the spot.
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Great, thank you! I am working with a car broker who also buys cars so I wonder if they are able to do something like that. I’ll look into contacting the dealerships. Should I call VW credit at all?
No need to discuss any of this with VW Credit. You just need to know your pretax payoff.
Okay but they won’t give a different payoff amount for VW/Audi dealers? It’s just if it’s a third party?
Audi dealers have a Segmentation fee to buy out Audis, not sure about vw
You should be able to get a 'payoff quote" on the VW payment page. This payoff will be what they need to pay you at any VW dealer (based on my experience). If KBB is saying you have 8K it may be lower but you can shop that around.
How does a buyout work when you have MSDs? Can I use the MSDS part of the buyout with Mercedes or is that separate transaction?
This is going to vary from bank to bank, however whenever I run a payoff quote on my MBFS lease the MSDs are included (the payoff amount is reduced by the MSD amount).
So when whatever dealer you’re selling to runs your payoff quote, just double check that the MSDs are also included.
Trying to help out an extended family member with lease end. Hyundai lease with current monthly at $225 (oh to time travel back to 2020). Lease ends in October. Have a current guaranteed 3rd party purchase offer (confirmed it is permitted by Hyundai Motor) which would provide approximately $3200 in equity. Taking subjective matters out of it (like desire for a new car), what are all you smart peoples’ thoughts on best option:
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Sell car now, bank the $3200 and have it to help out with the likely 350-400 (at least) monthly payment that will attach to a new lease;
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Keep car until lease end and then purchase (approximately $15,500 buyout at lease end in October). Major downside to this is family member does not love the car (but let’s try to keep that out of the picture for now);
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Keep car until lease end and request an extension to maintain the $225 a little longer. Then figure things out at that time. My main question here is whether any of you know what Hyundai Motor’s practice or policy is on this. I have searched the forum and have seen some discussion of a 6-month lease extension, but I am unable to figure out if that is automatic or whether particular conditions need to be present.
I know there is no perfect answer, but I welcome the thoughs from this forum. Thanks in advance.
Thanks. Do I have to use a dealer? Can I just contact MBFS?
Hi all!
Trying to decide whether or not to buy out our 2019 BMW 40i X7.
We leased it new in 2020 end of May. Last new 19 40i X7 in the northeast.
MSRP - 82k
Selling price - 70,105.
The deal was solid I felt.
Terms were 36 mo. 15k year with nys tax 8.125 percent. Payment was 895.00 with 635 total DAS.
Allowed mileage 45k
Current mileage 42.3k
Purchase option: 44,277.30
Car is in excellent shape. No accidents. There is a 6-inch scrape on the rear bumper which will probably need a respray likely from someone in a parking lot, and a tiny dent on passenger rear door which can easily be pulled out with pdr (no paint damage).
I usually lease our family cars and swap out every 36 months.
This is the first time I’d consider buying out a leased vehicle because I know the days of getting aggressive discounts are over. My better half likes the new RR LWB (long wait lists) or G63 (same long wait). but does like our X7 a lot. I say to myself there’s no point in getting a new X7 since my payment will be 1100+ for the same car.
I would finance the car. Lease is up June 1.
Any advice from the pros? Thanks!!
If you plan to lease again $3200 translates to roughly $100/month more you can ‘afford’ from the original $225.
You didn’t say the car so I will assume it’s something bigger than a Kona? If so, then $400 won’t cut it. So you gettting $3200 Now vs getting $0 in October (Assuming the market falls out), I don’t see you saving any money.
IMO I usually want at least $5000 in Equity before considering a 5 months early Lease Buyout. The market will eventually offer some incentives and will possibly save you that $100/month (And you are saving by paying $225 over 5 months vs over $400 for the same 5 months on a new lease
Currently have a 2019 RDX SHAWD Tech. Lease was due last year but I extended a year, which finishes on 7/25/2023. 32,500 miles
Currently paying 426/mo
Pay off: 24,400
Dealer is offering a 2023 SHAWD Base for $430 a month (36mo/7500miles same as my previous lease) using equity from my current vehicle. Only taxes and fees at signing (2500$).
Seems like a relatively good deal considering what other people are being offered. My other option is to buy out car, play 2k in taxes and finance rest with 5.75apr would be 560 per month. I have no plans of keeping car long term and would most likely end up trading later.
So knowing that, is it better to get this decent lease deal? This is going to be the last of the 2023s and once the 2024s are out there will be less deals.
Hi everyone, I have a BMW 330i M Sport lease ending in a few weeks, leased back in June 2020 for ~420 a month with ~1,500 DAS (36/10). MSRP was ~50,000. Currently very low on miles (~17,500) and the residual is ~29,500.
I’ve tried to negotiate with a few dealerships on a new 330i (MSRP ~53,000) but the best I’ve been offered is ~610 a month with ~2,500 DAS (5.6% off MSRP). Pretty much a no brainer to buy out my lease? Or is the new deal not too bad considering the current environment? The offer is for 39 months and 7,500 miles a year.
Thank you!
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CC @LDETR