Sold leased car to Honda dealer - experience also from "we buy your car" brokers from here

Hey all,

So my father who is elderly had a lease that was coming due in December of this year. The vehicle was a 2020 Acura MDX. I reached out to a couple of brokers from here to see if they wanted to buy it since on all their post they advertise as “we will buy your car”. I thought that since they help hakrs like us, they would also be able to offer a fair value. Boy was I wrong. Listen, on the buy/lease side, they will broker the deal because they are getting paid but man dont think they have your best interest at heart.

Broker 1: offers me $500 equity and I have to drive the car 1.5 hours to him and take an uber back. Yeah, no thanks.

Broker 2: offers $1250 equity and as we agreed, comes back and says they are backing out. Here, I had the car cleaned and detailed and removed everything from the car.

So I decide to visit an Acura dealer close to me and they offered me $2k equity in my pocket on buyout. I also go to a Honda dealer and within ten mins, walked out with an equity check of $2500.

Lesson here is not trust the brokers here because “its easy” to deal with them or you might have leased a vehicle from them or thought of leasing a vehicle from them. They wont be fair to you. Sell directly to a dealer and get multiple quotes.

Thanks.

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Duh…
101010101

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I strongly recommend reaching out to @DNA_Auto_Wholesale1

I and fam/friends gave them 3 cars so far and it has been beyond a stellar experience

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I can not confirm or deny that they were one of the brokers I spoke to who offered $500 in my pocket with me having to drive 1.5 hours to drop off the vehicle and having to take an uber back.

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Amen…

I was thinking “hey these guys help out end users get great lease deals”, “they must be helpful” ha!! yeah, no!! Glad I went to the dealers direct lol… ended up with more money in my dads pocket lol

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Good for you. However, you saying broker did you wrong by not giving you max value that you are able to get does not mean broker is wrong. They rely on their dealer network or whatever to give them a price. Do they get a cut? Maybe but that is the game. But you tried different sources and in the end you did well.

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So you are telling me that selling to a “middleman” and turns over the car to a dealership resulted in a lower value than selling to the dealership outright?

hmmmm

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Who knew? :roll_eyes:

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They did offer a ‘fair value’ but it just wasn’t the value you wanted.

There are so many variable when it comes to used car pricing. Lets say if dealer " A " is buying it to resell on Manheim auction and dealer " B " is buying it to retail on their lot. In this situation, dealer " B " can offer more money than dealer " A " because they dont have acquire the same vehicle from the auction, and dont have to pay the freight cost to bring it to their dealership. At the same, if the dealer " A " wants to send it to Auction, then they might have to pay the shipping fee, and they may receive the bid less than MMR plus they need to have some profit for themselves.

In your case, spread was $2000 which is very normal in the used car market.

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Ha!! Touché… now I know for future :joy:

Well, yeah. The broker has the broker’s best interests at heart. When those interests align with yours (you want a deal on a car, and the broker knows dealers willing to offer one) everything is great. When those interests don’t align (you want to get rid of a 3 year car they might or might not be able to sell at a profit), then not so much.

So the point of your post is to call out brokers that you’re actually not calling out because you won’t name anyone?

Sometimes i had brokers offer more then dealers, othertimes it was dealers, and sometimes it was like carvana or vroom, its important to check all of them because the spread can be wild, on a highlander i had a $6k difference and on one of my Ms it was a $14k difference between offers.

It’s unfortunate you were unable to secure a deal from the Brokers you spoke to on LeaseHackr.

And it’s okay to share your experience.However, I believe it is unfair to make a blanket statement to “not trust brokers from here… They won’t be fair to you…” simply because they couldn’t help you.

There are many variables that go into any kind of deal, be it to lease/buy a new car or sell your leased vehicle rather than turning it in. And the last few years with COVID have added even more variables to to the equation.

I was able to sell my leased Honda to a Broker here on LeaseHackr a little over a year ago and at time Honda said I couldn’t. And that deal allowed me to walk away with the equity I needed to lease my Hyundai. I tried, but could not work out a lease deal on my new Hyundai with any Brokers on LeaseHackr.

I didn’t blame the Brokers here or LeaseHackr because they were unable to help me at that time.

I joined LeaseHackr because I wanted to educate myself on the process, and I like the idea of having access to the Deal Info shared here, as well as the Broker Community. LeaseHackr is an excellent resource for consumers, and offer members another option - one that provides us the tools to save money on leasing/buying or selling our automobile. There’s no perfect, one size fits all guarantee that it will work every time, no matter the circumstances.

My first experience using a Broker here helped me secure a Honda Lease for less than I could on my own. I knew the GSM at the Dealership personally for years, and he gave me his word the deal he offered was the best he could do. I didn’t believe him so I reached out to a Broker on LeaseHackr and ended up getting a better deal. The kicker was it turned out being from his Dealership. The look on his face when I came to pick up the car was the icing on the cake!

My experience trying to lease my next vehicle, a Hyundai, was NOT the fault of the Brokers or this site. There were many variables involved that did not allow me to get a deal using a Broker. But I did secure a deal on my own and the information I have learned from being a member of this site was helpful.

When it comes time for my next lease I fully intend on coming here to LeaseHackr and reaching out to the Broker Community to sell my Hyundai and lease another. Maybe they’ll be able to help me get the equity out of my current Hyundai lease, maybe they won’t. Maybe they can help me get a better deal leasing my next Hyundai, maybe they won’t be able to.

Circumstances at that time will dictate what help I receive. Regardless of the outcome, as long as there is mutual respect it’s not personal. It’s business.

Just as circumstances dictated how things went for you. The Brokers here couldn’t help you, but in the end you got the deal you wanted, just not here.

Sure, I was disappointed I could’t find a Broker to help with my current Hyundai Lease. But it wasn’t’ a matter of them being unfair, and it certainly wasn’t about trust. It was about my circumstances and theirs. They’re not a Charity. I do not expect them to make a deal for free. I only hope next time there is a deal that makes sense for them and for me. I’ll be happy to pay them knowing they helped me save money.

That’s business.

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Awkward Pop Tv GIF by Schitt's Creek

Yeah, I’ve gotten out of three separate VW/Audi leases using local dealers. They’re just more competitive. Everyone else nickel and dimes you.

Don’t even get me started on Rodo