US Bank Dealer Payoff Off the Roof

[jeisensc]

@fpm

My jaw dropped when I heard the agent on the speaker. I was expecting higher than my buyout but not $4k over msrp from 2 years ago

Correct. US Bank is one who charges third-parties Fair-Market Value:

List of Lenders that Allow for Third-Party Buyouts

As used car prices soar, many lessees are finding that their vehicles are worth considerably more than their current payoff amount. Instead of simply returning the vehicle at lease end, you may be able to sell the vehicle to a third party (such as Carvana, Shift, Vroom, and CarMax) for a profit. However, some lenders are making it difficult for consumers to access this “lease equity” by charging a higher lease buyout price to third-party buyers than to consumers, or altogether prohibiting third…

It sounds like you’re poking at

*Note some lenders do not charge participating dealers a higher payoff, so it may be worth exploring selling your leased car to a participating dealer.

Which, if you leased a Toyota through USB, you probably recall it’s a bit of a needle in a haystack finding dealers who do use US Bank. I’d start with the originating dealer and see if they still use US Bank.