What is the process for selling a leased GM Financial car to a GM dealer?

Some autonation locations might be able to buy out the lease thru a chevy dealer. I briefly discussed this with one of their reps while selling my 4xe in September. Try getting an online quote from them.

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To reiterate this point…all AutoNation dealers should be able to buyout a GM lease. It’s just more of a matter of finding a competent and willing AutoNation dealer.

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I am extremely content with you putting that ”competent” piece in there. Absolutely correct.

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Yes. Well, actually two competent dealers! The dealer you are at (assuming non-GM) and the dealer that would be facilitating the buyout. Depending on the offers it might be easier to go a less complicated route. My fiancée and I spent 4 hours at autonation for a very simple CCAP lease buyout. We both didn’t realize it was going to take so long and she was driving me home. I don’t imagine that timeline gets shorter with more complicated deals. So in this case it depends on how much more they can offer, travel time, etc.

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Thanks for the help, guys! I’ll start with emails to the local Chevy dealers. I did get a 40k offer from Driveway a month ago, but I also would have needed to buy out the lease and get it titled first.

Interesting. I did reach out to Autonation and their Honda dealer that replied said he couldn’t handle it / needed to go to a GM store. Not sure if it matters, but it looks like the closest GM store is all the way down in TN.

I am in the same boat, although I have a Cadillac. I am waiting for GM to add the car to my account on GM financial (does anyone know how I can get account number before it updates).
After that my plan is to check through brokers or local dealer.
Please update if you sell your car. Thank you

I ran into that when I was selling my audi etron. Reached out to autonation, it auto directed me to the nearest store which was a chevy store. They said they couldn’t help. Reached out to another, all went well. The guy at the store that bought it basically said “we can all do it, it’s just a matter of them wanting to put the effort in”

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Definitely shop around and don’t let anyone lowball you. Both the Mustang and Camaro are currently in a state of suspended production so you should have that working in your favor.

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DM me your info on the car and I will see what I can offer!
If you would prefer my cell number is 917-685-3492
I am a broker and work with all brands if you are in the market for a new car!

Do you typically get the check immediately when you turn in your leased vehicel or how long does it take.
Background: We are non residential aliens and we have to leave the states in 2 weeks. We want to get the equity of our 2 leasing cars (Jeep Grand Cherokee and GMC Terrain) and therefore search for a dealer that buys out the lease and hands out a check to us.
We are shopping around a bit and the first dealers it made the impression (we have not inquired about the actual process) that we would get the check immediately at the same day when we are turning in the vehicle.
However today we were at a Jeep dealer which made us the best offer and he told us that we have to wait 3-4 weeks until they get the title from Chrysler Capital, then we have to sign the title and we would receive the check. Since we have to leave the US in 2 weeks that will not work out and I am now wondering if this is the regular process or if this dealer is just “slow” or does not know about certain workarrounds ? :slight_smile: :frowning:

The term “turn in” is deceiving here. If you are selling the lease for equity not turning in at the end of your lease you should be walking away with a check right away. It is no problem for any dealer to buy out your Grand Cherokee. The GMC lease will be much more difficult, as GMC does not allow for third party buyouts. Check autonation or a local GM dealer for an offer on that car.

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Thank you
Yes, in our case we just want to bring our car to the dealership, sell it to them and get the difference between the residual value of our lease contract and the value offered by the dealership in form of a check.
If i get it right normally we should walk away directly with a check and it should not take multiple weeks?

For your GMC - you need to contact local GM dealerships and see who will offer the highest.

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You don’t want the difference between residual value and the price they are willing to buy it for. You want the difference between your buyout and the price they will buy it for. (There are many posts Here that will explain that to you, but I’m sure you’re in a rush trying to wrap up everything in this country.) you can get the buyout amount by requesting it from the leasing bank, in this case CCP and GM financial. Keep in mind the buyout that you are quoted usually includes sales tax, which a dealer will not have to pay.

But yes, you should leave with a check in your hand.

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Thank you, this was helpful. For me, GMF told me how much sales tax I would pay on a buyout, but I wasn’t sure if a GM dealer had to pay it, too.

It is not uncommon in the dealership model to wait for title for the check. You should not have to sign it as you would sign a power of attorney when you drop off the vehicle. The online buyers typically do give a check to you when you drop off the car (autonation, car max etc). I would look into those if you are needing to get the check before you leave the country.

No dealer will pay sales tax.

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Thank you all for your help.
I now successfully returned our Jeep to a Jeep dealership which bought out my lease and cut me a check in return.
I was a bit suprised that I had to sign nothing. They just demounted the license plate, gave me the check (no contract / receipt etc.) and thats it. Is this a typical process? The sales guy just said everything was in the system thus no need for any additional paperwork.

Within my Chrysler Capital online account it still shows that I have some pending payments. But probably this just takes some more days until it gets updated?

Unless something changes in the near term, my car will be going to Driveway. I tried a number of local dealers and got virtually no interest (or crappy offers).

I don’t really understand why: it’s spring here in Chicagoland and I’d think they’d easily be able to move a low mileage Camaro. :man_shrugging:

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