Yup. Working on the lease “sale” on one side while working with pricing on a new car on the side concurrently. My plan is to get the sale squared away and then once everything goes swimmingly with that, I can officially proceed with a new car.
I have a little hesitancy because I don’t want Kia to come out in a little bit and say they’re no longer allowing it, but I guess that’s out of my control. That would really stink though because unless there’s another way to “get out of” the lease by “selling” for the positive equity, I’ll be “stuck” with the Kia for the duration. It’s a nice car but I do want to upgrade back up once my living/work situation clarify hopefully sooner rather than later.
Just get something you can potentially unload on leaseswapper down the line I wouldn’t plan on being able to sell it for a profit down the line. I could be wrong but I don’t think kias are a very desirable used cars to purchase.
Fyi I had a deal in process with GMTV for my Tacoma and they just said that Toyota stopped allowing 3rd party buyouts. So it’s not just Vroom. Apologies if somebody already confirmed this. Have not read entire thread
Wow that’s good news. I’m hoping to maybe do this in 5-6 months with a Kia. Worse comes to worse I can use it for my move and then do it a few months later.
Any update for all those that are interested. I gave up on Vroom because screw them. I made an appt with ALGO, they offered 33,900 initially, but bumped it to 35,000 after seeing the vehicle and hearing about my offer from Vroom. They are picking up the car tomorrow. The transport has the check already, so I should be good to go. I will update tomorrow after they pick up the car…
Had Vroom call me today to say they were closing my account because TFS was no longer allowing 3rd party buyouts. Submitted all my info over a week ago and was wondering what was taking so long. Now we know…
I called Toyota Financial myself yesterday as I am planning to sell my Tundra to a dealership in the next 2 weeks. I asked specifically about this situation coming up and they assured me there is absolutely no truth to TFS limiting the ability for anyone to sell their vehicle to any 3rd party nor do they think it makes sense to do so. I would be simply using those printable offers to bring to a local dealer who will match or beat it, if possible, if you find yourself in this situation.
Vroom is the problem. My boy Andre at TFS told me you can sell to carmax, carvana, vroom or any other dealership. No third party restrictions specific to Vroom’s suggested new “policy change at TFS”.
I just sold my 2018 SR 4x4 DC for $32,500 netting me over $7500 at the end of my lease. Walked into Carmax, walked out with a check. Do not use Vroom. Oh and go in anyways. My actual check was $1,000 higher than my online offer. Never showed them a competitive offer. Just told them I was looking for a replacement vehicle and boom the offer went up.
Sold 4 to carmax with wonderful experiences. Never. Would I ever consider Vroom to be a legitimate business. It actually makes me nervous that they have a POA with my signature on it and my personal info. Vroom so sketchy and downright deceitful. They even acted like my high offer didn’t exist and attempted to us a $1,500 less offer after I signed the papers. I had screen shots of the deal thankfully.
My experience, yours may vary:
Vroom= lying shady back ally thieves
Carvana= trying to do it right
Carmax= hands down the easiest process and most polite folks doing it
Thank you @patman3663 and @SamsLease for that confirmation. Perhaps @Falcon01 could change the title of this topic to avoid confusion. I plan to go to CarMax on Monday to net $5,900 on my 2019 Tacoma. If it wasn’t in perfect condition with 16k miles (Covid WFH) this opportunity may not have happened. Excellent chance I return to Toyota anyways with fewer variables to negotiate on a new lease and TFS keeping me a happy customer. I’ll be sure to share what happens.
Just communicating with Vroom tells you all you need to know. Carvana is a different level compared to them.
What is the timeline for each option. If selling a lease to Carmax is it always in and out with the check the same day? I imagine Carvana is much longer because of the pickup.
My experience with Carmax was less than 2 hours from start to finish. I did the appraisal online and made an inspection appointment for the next day. Took maybe 40 minutes for them to inspect the truck, and another 45 or so to do all the paperwork and left with a check in hand. Probably would have been faster but it was pretty busy with people selling cars.
So Autolenders GO came and picked up the Lexus today. No issues, check for $~4,600 in my hands. Sure beats giving TFS $2k for the over mileage penalty. Overall, I’m very happy with ALGO. Very displeased with Vroom. I will be writing some nasty reviews later on Vroom.
I asked my dealer about Tfs not taking 3rd party buyouts. He had no knowledge of that and said it doesn’t sound accurate. Seems like a vroom lie to me as well.
Feels like Vroom is backing out of my deal as well. I submitted ownership docs on 4/27 and now can’t get a hold of anyone there. Called 4 times in the past week, they keep saying I’ll get the docusign email in 24hrs.
Algo offer is $2300 less but I might just negotiate them up a bit.
