Very odd - just sold my Chrysler capital lease to carmax about 2 weeks ago with no issues.
I feel like my hands are tied. I called CCAP who gave me my payoff, and I have about $3.5K equity compared to the Carmax offer. I was expecting the dealer buyout to be different - was not expecting a flat out refusal. I the consumer cannot speak to the “dealer department”. 45 days left on lease.
Maybe it was too close to lease end?
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See if any local Chrysler dealers will buy it back.
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They probably realized they’ve been leaving money on the table but they don’t know how to get fair market value… they’re just throwing their hands up and saying whatever we get at auction is it.
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Sold my leased 2019 Volvo XC40 T5 R-Design financed through VCFS to CarMax for $5K over the payoff amount quoted by VCFS on 03/31/2021. Lease term date of 06/2021. Also received an appraisal from Carvana but Carvana sent an email to me stating: “Thank you for taking the time to submit your vehicle for a value with Carvana. At this time, we are not able to move forward with purchasing your leased vehicle as Carvana’s policy does not align with (US Bank / Nissan Motor Acceptance Corp/ Infiniti / Ford / Ally Financial/ Volvo/ Lincoln/Tesla)'s policies, and this prevents us from being able to purchase leased vehicles from this provider.”
CarMax made the process easy. The CarMax rep was very knowledgeable about the VCFS process and knew that VCFS would need to talk to me to verify the information. VCFS would only provide my payoff amount to CarMax since CarMax was not a Volvo Retailer. CarMax provided me with a check for the difference once all the paperwork was complete.
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Well this is interesting… Which Carmax did you do this at?
I just sold my Grand Cherokee lease to Carmax today and it went smoothly, including the call to CCAP.
I’ve read elsewhere that Chrysler Capital requires a dealer sale to be greater than 60 days before lease end. Sounds like you missed the window by a couple weeks.
CarMax in Hartford CT
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We sold our truck to Carvana back in March and they were $1k more than Carnax. I just check the price on my Lexus and Carvana was $4000 more! I’m in Georgia if that matters.
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I checked my Mazda CX-5 and Carvana was about $3000 more than Carmax and the same for Vroom.
Chrysler Capital doesn’t let a 3rd party purchase a lease if it’s within 60-90 days (I forget the exact amount), happened to me when I had a Jeep Grand Cherokee with $2000 in equity I couldn’t use. Last Chrysler I will ever buy just for that reason.
I have gotten quotes on my 2018 accord from all three major sites, with Carmax being the highest by $1500. My lease is up end of April and before I drive the hour + to Carmax to sell it is their anything I am missing? They are not the easiest to get on the phone.
Last week I sold my leased 2018 Honda Accord Sport to them, I drove from Long Island NY to CT & it took me 30-45 minute to finish the whole process.
No extra charges make sure you have extra keys & wheel locks for car & be ready to sell your car to them.
Their offer is valid for 7 days & their offer was 2k for than Vroom
any deductions for mileage?
No, I even put 500+ miles on the car
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Similar experience for me - no games.
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Has anyone seen how long it takes them to payoff the financing company after you sell? I keep checking and my account is still showing the same balance a week later.
When I spoke to Chrysler capital, they said carmax sends a check snail mail and it usually takes 2-3 weeks. I’m at about 2 weeks and it looks like my account is still “open”
Annoying since my next payment draws next week.