Vroom, ALGO, and shfit have been offering more for Toyota, Lexus, and Honda vehichles in my exp.
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Vroom offered 24,783 for odyssey.
I haven’t tried ALGO or shift yet
Exactly why I went with carmax. Their offer was $500 lower than carvana but it was so much easier to walk into the carmax and be out an hour later with my positive equity check.
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Not the case for me, Carmax beat everyone on a Honda and a VW
Today I sold my Honda Accord to Carmax for $5k above lease buyout. Whole process took less than an hour.
Carmax beat Vroom by $2500 & Carvana by $3200.
Were you Charged the disposition fee?
Nope, the only amount they holding is $50 because my payoff was good till 04/10 & they said it takes 15 days to payoff everything. If nothing changes they will refund me back $50
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And to confirm, they called Honda finance when you were there to get a final payoff quote?
I called Honda before I went down there & told them I’m selling car to dealer. Honda gave me two prices one for my buyout & other for dealer buyout which was less than my buyout.
Carmax pulled out from dealerpayoff site & it was same payoff amount which Honda gave it to me (dealer payoff)
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Did US Bank finance the Tundra? I have a 2019 Tundra coming up on due as well. Spoke to autonation they gave me the toughest time but the best quote.
First time selling a lease and they gave the dealer a different buyout quote then my buyout. Trying to figure out how to do this right. Any advice would be appreciated.
FYI - Trying to avoid buying it out myself then selling to one of these places.
Thanks!
After selling my RX350 to carmax, just for fun, they gave me a trade price on my IS250 that was $2k higher than vroom !
Walper, did you do a 2nd appraisal after the 7 day window expired or did carmax just bump up the offer?
Thank You
Last week sold my honda to Carmax, rechecked the numbers today on a similar VIN, they increased the appraisal amount by $500… if you are looking to get out of a Honda take it to Carmax now!
I kept checking the appraisal online in incognito mode about 3-4 times a day. Overnight it jumped from 18300-19100. I brought it in a few days later to get an in person appraisal as I had read that some people got a higher offer in person. The in person was still the 19,100, but it locked that price in to the system I think as every time I would go to check the price online after in person appraisal it would ask me to schedule an appointment.
Thank you for the quick response.
Pardon my ignorance as a noob, just saw this thread. I have a BMW lease ending in June and I was not aware I could sell the leased car rather than return it back to the dealer or buy it myself. Is there education I can read on how this is done?
Most finance companies will allow you to sell a leased vehicle to a 3rd party. The easiest thing to do is get an online quote from Carmax, Carvana, vroom, etc and contact BMW financial (if this is the bank you used to lease your car) and ask for your cost to buy the car or a 10 day payoff. This usually is the dealer cost plus sales tax so subtract whatever sales tax rate is for your state and it will give you an idea if you have equity or if it makes sense to pursue. If the numbers make sense, you arrange the sale and either pay negative equity to sell the car or sell the car and keep whatever the difference is between your payoff and what the dealer bought it for. From my understanding, BMWs usually don’t have equity in them, but the used car market is very hot right now.
Thank you for the info!
In order to end your lease early, you would either a) have someone else assume your lease or b) have someone buyout the lease.
Lease Assumption:
Many brands will allow you to transfer out of your lease and assign it to someone else after paying a lease transfer fee and submitting required documentation. Those brands include BMW, Lexus etc.
Some brands will not allow lease transfers at all such as Honda, Mazda, Volvo, Jaguar, Hyundai etc.
A select few brands, such as Audi or Infiniti, allow lease transfers, but keep the original leasee liable. It is generally not recommended to do a transfer as you would remain liable for the car after transfer.
There are some other restrictions that can affect your ability to do a transfer such as remaining months on the lease and regional restrictions. It is best to check with your leasing company by calling them directly.
Once you decide you want to transfer out of your lease, you can post your car for free under LH’s private transfer section:
Alternatively, you can list your car for a fee with www.swapalease.com or www.leasetrader.com which are two large lease transfer marketplaces that have a large user base of people actively looking to assume leases.
Lease Buyout:
You can have a third party buyout the car. In order to do that, you would call your leasing company and get the current “dealer payoff quote” which is the amount of money needed right now to payoff your car which will satisfy your lease agreement. Once you have that number you can take your car to your local Carmax and see what they would offer to buy your car. If the amount is near or above your dealer payoff quote, then you can sell it to them and you would be out of the lease. Alternatively, you can get an online quote from vroom.com or carvana.com who will give you an instant online offer. If you accept the offer, they would come and pick up the car from you and pay you on the spot. Ideally you would get a quote from all sources as they may vary significantly. For more information, please see forum discussions:
For additional information, make sure to check out Leasehacking 101: How to End Your Lease Early
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