It’s been quite an ordeal selling my leased 2016 Ford Focus Electric. I got quotes from Carvana.com, Vroom.com and Shift.com. Shift doesn’t do Ford leases. The highest offer was from Carvana for $3000 over payoff. However, after I submitted my paperwork, they responded that they were no longer buying out Ford leases.
I checked with my original Ford dealer (you have to go through a Ford dealer) about paying off the lease myself and then selling it to Carvana (hopefully getting the title and selling within 10 days or I wouldn’t get the sales tax back). It was $2000 more to buy it myself. A ridiculous $695 processing fee, DMV fees and $950 sales tax. By that time, the Carvana quote had gone down and was only $2000 over payoff.
I checked with Carmax but they don’t buy out Ford leases. I then got a online quote from my local Autonation Ford. Their quote was $750 over my payoff and they could buy out the lease without any problem. When I came in to sell the car, it turned out that the payoff for them was $500 less than it was for me and I ended up getting $1250.
All in all, Ford made it really difficult to sell their leased car.
I just got a quote from CarMax for my focus electric last week. 1000 below payoff but it needs the rear bumper painted and I would probably get charged for the front bumper for minor damages upon turn in as well.
I made an appointment with my local CarMax and was driving there when they called me. I mentioned it was a Ford lease because of the issues I had selling it. The Carmax rep told me they didn’t buy Ford leases.
I spoke to Carmax today and they do not buy Ford leases unless the originating lease Ford dealer will play ball with them. I also just spoke to Carvana and was told by a customer service rep that they have had issues with ford as well and do not buy them either.
Do you know if the Autonation store has to be a Ford store or can it be any brand?
FYI - Ford Charges a 500 fee to buy the car at the end of the lease on top of the residual value. I also called Ford with some work I was able to get the payoff quote for a dealer which was $280 less than my lessee payoff.
Not sure about this. I did the quote on the Autonation.com site and my local Autonation Ford dealer contacted me. They definitely need Ford dealer access to get the dealer payoff since it’s $500 less than the payoff listed online for my Ford Credit account.
Turns out there is Autonation Ford near me and they will buy it but they still have to work with the Originating Ford Dealer. Unfortunately, there quote is 800 lower than Carvana.
I’m going to see if my originating dealer will work with me to match the Carmax quote but most likely I will be keeping the car until lease end. Can’t complain because of how good my deal was but disappointing none the less.
Did the lease buyout for my 2016 Focus Electric, through a Ford dealer that knew of the 10-day rule in CA. The title had the Leasing company’s name still on it, even though they had signed on spot 1, and I had to sign on spot 2. Carvana refused to accept it, and need it changed. Sold it to Shift for the buyout price that I paid. What a ordeal.
I figured I’d share this transaction. I wanted to sell my 2017 black 370Z Nismo. I bought this vehicle new online from a dealer in SC and they shipped it to me in Florida.
After three years and 3,600 miles, I requested offers from Carvana, Carmax, Vroom and Driveway (top bidder was Driveway). With two days before pickup, I listed the Nismo on Craigslist and wouldn’t you know, Autonation gave me $500 more than Driveway. It really is crazy times for used cars……I sold this 370Z for $2,200 more than I bought it for.
Good question……I was contacted by the Acquisition Team from Autonation. I assume they are looking for low mileage vehicles….even on Craigslist. Once they knew my best price, I told them what it would take to purchase my car. In less than one hour……they came in with my price.
