Hackers,
These are interesting times. With the used car market at an all time high and my existing car lease ending in the upcoming months there are a couple options I’m entertaining -
(Used-car prices surpassed $25,000 for the first time. How to snag a good deal - MarketWatch)
Option 1. Run out the lease
Option 2. Transfer the lease to a motivated used car buyer (option to buy) and obtain new lease
Curious any thoughts from this group-
What vehicle? Which bank?
MB C300 4Matic 2018, MBFS
In that case, #2 isn’t an option since MBFS doesn’t allow lease transfers any more.
that’s disappointing - thanks though-
You can get explore selling it to a 3rd party dealer though. Get your dealer buy out price from MBFS and compare to what places like carmax, carvana, etc will offer to buy it.
in other words it just can’t be John Smith trying to buy your lease off you but a carvana can possibly buy you out IF its a good deal for them. I assume the margins are probably at least 10-15% for a 3rd party dealer to want to pull trigger.
They’ll give you an offer to buy it and tell you the price. That may be more than your dealer buy out or less than your buy out. They don’t care how much your buy out is. If their offer is more, they’ll cut you a check for the different, be it $10 or $10k. If it’s less, you would need to cut them a check for the difference (or just not sell it to them).
Just got my highest offer yet, carmax offering me $26,700 for my lease. $5,000 over my buyout!!!
I just did a buy out with Carmax it was the easiest thing ever I had three remaining lease payments and I had to make a move and I decided on Carmax in and out in less than an hour
For CarMax, my personal experience is that they don’t negotiate and from what I was told, once one location has done the appraisal other locations will be using the same price.
I brought up that I would buy a car off them which in all honesty doesn’t weigh much in this market, and the “manager” was well aware that their current offer isn’t enough to offset the difference even after the trade-in tax saving ($5000 below my best offer and sales tax on the car I potentially would buy is about $3000), still won’t change what they offered. Might be store related.
Make sure you try Give Me The VIN, they claim they beat CarMax offer 100%
Oh sorry should have mentioned that it was an online offer, not an actual transaction.
This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.