You can always put used tires on the car prior to inspection if you’re sure they’ll need to be replaced.
Most guidelines require same size/rating and at least 4/32 of tread remaining, but not necessarily the same brand that came with the car.
With the bizarre car market it’s only relatively recently been a broad phenomenon where leased vehicles have equity at the end, and the return to “normal” is well underway.
Being able to drop off the car with a pre-determined cap on depreciation liability is one of the benefits of leasing.
I don’t want to misinterpret the intent behind this statement, but are you upset with Cadillac because you wore out the tires and have to pay a disposition fee?
Your situation is just a lease-end reality any time you turn in a leased vehicle with bald tires and then switch brands.
Try getting a quote from Autonation. I was able to sell my GMC Sierra lease through them. I am in Orange County and they used a store in Texas. I came out ahead, but they did lower my offer by $500 as I needed new tires. Felt that was cheaper than what GMC would have charged me!
We like the car. Pretty sure my answer is to buy it out (obviously no point squandering the equity), but it seems that EV deals are coming back again. We have never bought out our leases (all EVs). I have some concern about this being obsolete with the Ultium battery Bolt coming up. My ideal scenario is to get the equity out in the near term and lease another car at a great deal, but I was spoiled by the cheap EV deals and haven’t seen anything that great lately, at least not yet.
What’s the best way to handle this to get the equity? I have 2 months remaining
Thanks. I’ll take a look. What’s the best way to capture the equity surplus in my current lease? If I buy it and then sell, I’m out the 9% tax. If I sell to a dealer or Carvana can they buy out the lease on my behalf and give the difference without me paying the tax?
Sorry for the newb questions. I’ve always returned my leases
Hey folks. New here and have a question on my current situation. I have a 2020 Silverado RST on lease. 40k mile lease but only 25k on the odometer. Buyout is 32-33k but KBB has my trade around 42k. Obviously i probably wont get full trade value but will have a good amount of equity. My lease is up in January with only 4 payments remaining. I know that if i go to the Chevy dealer, they will be more than happy to put me in a new lease while "allowing " me to put all of my equity as a down payment. I know better. Ideally id only put enough to cover 1st month plus taxes. I was considering moving off the truck into a bmw or wrangler. Not sure what the current environment is like for leasing so thinking of either a buyout or just buying a new or cpo outright. Any tips or suggestions?
Gotta ask 1 question, is your lease with GM or with Ally? If GM, just go to the Chevy Dealer and ask them to give you a ‘buyout’ price. No new loan needed.
If Ally? Well, good luck as that is going to take a few more hoops and Sales tax to achieve.
2021 Audi e-tron premium, $72xxx msrp, 24/7.5k original term, extended for 6 months. $4k down, $550 monthly. Residual is $39xxx, 7500 miles on the car.
Trying to figure something - I extended my lease already with Audi FS for 6 months and I’m now due to turn in the car in couple of weeks. If I decide to keep it and finance it …
Can I do a loan directly with Audi FS (as opposed to a bank or credit union) to buy it at the residual amount + taxes? I’m asking as the dmv registration is ~$1100 per year, and I’ve already renewed 6 months ago, so I was hoping if they keep the loan I won’t have to re-register the car?
I guess depending on the answer above - is there any benefit doing the financing through the dealer? last time, before I extended the lease, they tried to play games, inflating my residual - numbers didn’t match the payoff quote i saw on Audi FS website.
To sell an Ally Bank or to sell a GM to say a BMW dealer, you would have to buy the car, pay sales tax, and get a loan for the equity and then sell that car to BMW and pay the loan off.
To sell to a GM dealer, you just sell the car and they take care of the paperwork with GM Financial, no sales tax or loan needed
