So what price do third parties pay? The dealerships price or my buyout price on my statement?
Dealership price
I called GM Financial. Any dealer can buy out your lease, they prefer GM dealer. Sold my 2019 Traverse for $5500. over payoff to WeBuyAnyCar.com. It had half the contracted miles.(14,500), but I drove that last year for free after that buy out.
I was under the assumption for HMF, its their online Buyout price minus Taxes. Your Method seems way less
Thanks. I called up honda and they said that they couldn’t provide me the 3rd party buy out price that I had to have the company who is buying my car call them instead for the number. I didn’t think the start of the process would be this time consuming.
Thanks. I will look into that. I saw the dealer buyout last time.i was at the dealership, it was just about $20,000. They offered me $2k in equity. The third party who appraised my car just last week was around $26k. So you see why I want to sell to a third party. I believe autonation also does buyouts as well. Will check tomorrow.
There are many more to check. Shift.com. , vroom.com. carmax.com , Algo Lenders website , givemethevin.com and driveway.com
Honda Financial will not provide the price through email. Honda financial price for the dealer is your buyout that you see on the website + the disposition fee (350 for me) + the tax on that disposition fee. There are not any conflicting reports on if Honda is currently doing 3rd party sales. They are, there was one one person on here that posted a screenshot of a text from a GMTV rep that told them that Honda wasn’t doing it (It seems like GMTV isn’t currently working with Honda Leases but that’s them not Honda). If you sell your car to Carmax they use DealerTrak to get the buyout so you don’t really have to do any hard work with Honda Financial. If you do it though Carvana or Vroom, they will fax the buyout amount to them.
Thank you for the information. I called autoNation and they said they do 3rd party buyouts but before I got off the phone they said they had to find out if they can buy Hondas. Will be calling me back. Found out autonation cuts you the check right on the spot as opposed to others who mail the check. Reason I need a check on the spot is to have the money to go on next lease. Even though I can front the money I would rather know the check is already in hand. Enterprise offered 26k so I’m hoping they come close.
So once again autonation buyout would be the same buyout price as the Honda dealership pays at $20k?
Buyouts for Honda are the same for any dealer, they don’t do anything to mark up the price if you’re selling third party. Check your online payoff add the disposition fee and the tax for the fee and that’s what your buyout should be. If you have a carmax in your vicinity make sure to see what they offer as well.
So that means the number I saw at the dealership for their buyout on my lease being $20,000 is what the third party would pay to honda. CORRECT?
The reason I’m confused about this WHOLE situation is because I spoke to the company who gave me an appraisal last week, she said there was no way for her to know the buyout price unless I called honda, I then called and honda would NOT give me the number, i said do third party buyouts pay the same as what a dealership would pay and she said no… she even said the third party pays a different price than what dealerships pay. She would not give me the number no matter how many times I asked. I then reached out to the appraisal company and they said they don’t call that I would have to set up a 3 way call. I said you can call, all they need is the last 8 Vin number and nothing else. She said that they may need more like an account number and last 4 of social number.
I never can understand why something so simple is taking so long to figure out and why I’m getting the run around. It seems the people on this forum know more than the actual employees that work for these conglomerates. It’s quite pathetic.
My van is ready for drop off or pick up. Earliest pickup is Jun. 4th. Earliest drop off is Thu. May 27th 50 miles away. Am wondering if I select pickup, if there is a chance that they will pick up earlier than the 4th of Jun. Thanks.
In my experience, when you schedule a pick up day, that’s when they come to pick up.
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Hi!
Thanks for the info.
Regards,
GHTech
How long after submitting your documents for the offer should you wait before calling Carvana? How long is it taking them to get back to you? Submitted my documents yesterday and really want to drop my car off this weekend.
I think you’re confusing your terminology when you’re speaking to the Honda Financial reps. You need to be aware that third parties are not the same as dealers, especially when speaking to Honda. Third parties are persons that you’re attempting to sell a car to. Honda does not allow you to sell a lease to a third party but they allow you to sell your lease to another dealer (does not have to be Honda related, ex: Carmax, Carvana, Vroom, etc.). This is important because the Honda financial reps will be confused if you don’t mention you’re trying to sell your lease to a dealer. Their most common practice is sending a dealer a fax or mailed sheet listing the payoff amount but they also allow dealers to use DealerTrak to access that amount. They don’t have to tell you the amount over the phone and they can’t email you that payoff amount but if you manage to speak to a cooperative rep they will just tell you how to calculate the amount yourself so that you have an idea of how much the car will cost. Use the link that @mllcb42 posted to verify the amount.
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This right here is what is adding to the confusion. Third parties can’t buy those leases in the first place so the rep should have just said that. If you were to sell to a third party you would have to purchase the car (depending on your state pay a sales tax on the value of the payoff amount, register ownership with the DMV, then sell the car to a third party).
Don’t call them!! Request an agent to text you instead via chat.