Hello All… 3 months left on the lease and 11k miles used so far out of 22,500 miles. buy out price on this car is 30k. due to chip shortage, i guess car prices went up and thinking of selling the car to 3rd party. can i sell the car to 3rd party? does BENZ allow 3rd party buyouts? Please share your thoughts.
Thanks.
Yes, you can sell a leased car to online dealers or local dealers. Quote Carvana, Carmax, Vroom, shift, Enterprise Car sales. Pick up the best offer.
thank you.
Sold my (well, Acura Financial’s) 2019 Acura TLX Advance V6 AWD to CarMax for $31,200 this evening. The final number was the same as their initial online quote.
30,811 miles, leased through Acura Financial Services, maturity 8/29/21.
CarMax pulled the payoff information from the DealerTrack system and cut me a check for the difference. Super easy.
I have 40 days left of the lease. Do you think the Carmax takes it?
If not, I will buy it out myself. Any experience if TFS would finance its leased cars to lessee? And if yes, would TFS give good APR for its used cars compared with other financial services?
They took my Subaru with 2 days left on the 3-year lease. My registration was ending as well and they would not have taken it if it had expired. CarMax is a good option when you are close to the end. You should not have to buy it first to sell it to CarMax.
Hi, I’m at CarMax now waiting for my appointment and have a quick question. Do they have a history of the various quotes I’ve gotten from CarMax/Edmunds the past few weeks? The offer I have with me is $24,800 but I had an offer of $25,300 that expired last week. Any chance I can still get the higher offer?
Most likely not. I presume you have the code that you got for the $24,800 quote and that’s what they are going to use as the baseline for the appraisal today.
Ok, thanks.
One more question: I have CarMax rep a printout from Hyundai with my lease payoff amount. She said she has to call Hyundai because customer payoff amount and dealer payoff amount are different. What does that mean? Is dealer payoff higher?
Dealer payoff is without taxes so it will be lower than yours
Just sold my 2019 Hyundai Kona to CarMax for $6840 over lease payoff.
You could go into CarMax without a quote and see what they appraise it at on the spot. If they appraise higher than the $24,800 or $25,300 then take it, but if lower show them the one from online that has not expired and ask them to match. Good luck!
In my experience, the quote is tied to the VIN. Not unheard of for them to come back with a higher price after in-person appraisal, but you certainly won’t be pulling one over on them.
Just closing the loop. The payoff posted to my AFS account as of yesterday. So it took just over a week.
Has anyone ever tried to negotiate with them when doing the appraisal in person? say online price was 39K… any chance i can try to ask for 40k ? or a waste of time?
Their entire business model is built around no haggling… whether you’re buying or selling.
Guys would you tell me how much was the difference between the consumer buyout price (Residual Value in your lease) and Dealer Buy Out price (the amount your leasing company wants from Carmax, VROOM, etc.)? Dealer buyouts are mostly priced higher than RV.
I want to know how much would I get more if I buy out the car myself and then sell it myself to private party or even to Carmax.
Also any idea how the taxes would be handled if I purchase and then sell it?
Thanks
Depends on the car/finance company. I just sold 2 to them - On the Honda, the payoff included the disposition fee - On the Lexus, the payoff was the same as I received on their website.
Thanks! I have a Toyota RAV4.
As of equity offer, it is more than my original capitalized cost and I can sell it to Carmax with profit. However it sells in the market for 2K even more than that.
But still I need advice from you guys.
My RAV4 is OK and I am happy with keeping it. But I feel like these days are more in favor of who SELL the used cars as they are priced way more than their value. My Concern is that when these days are over and back to normal, the used car prices will plummet back to the level they would be like there was no pandemic effect.
So if I keep my car for another 3 years before selling it, the depreciation might be way more than the depreciation of a 2021 model after 3 years (hypothetical 35% for RAV4).
Do you guys think I am better off selling my used RAV4 for a newer model considering the financial losses alone? Obviously the newer model has many feature upgrades as well to be added to the equation.