3 Ways To Turn Your Lease Into Cash

girl24

I have a Ford lease ending in August and have been offered $5K more than I have left to pay on the lease from Carvana, but Ford is saying they dont allow third parties to buy off a lease. Any idea how to get around this issue with Ford?
Aside from buying it myself and then selling it to Carvana for the extra $

kyfdx

girl24 said:

I have a Ford lease ending in August and have been offered $5K more than I have left to pay on the lease from Carvana, but Ford is saying they dont allow third parties to buy off a lease. Any idea how to get around this issue with Ford?
Aside from buying it myself and then selling it to Carvana for the extra $

If Ford won't allow it, you are out of luck. If you buy it yourself, you'll have to pay sales tax. Given the time it would take to get a clear title, etc, your Carvana deal may be gone.

I had the same issue with a US Bank lease. They wouldn't let me sell it to anyone.

TiiTime

I have a lease on 2020 Acura A-Spec AWD, payoff amount is ~$35k... 36months/10k miles. Have 12.5k miles on her. Carmax/Carvana offering $38-40k. How difficult is the trade in process and paying off the lease. I'm treating both as separate transactions but wondering if carmax/carvana will take care of the paper works and paying off Acura for me.

kyfdx

TiiTime said:

I have a lease on 2020 Acura A-Spec AWD, payoff amount is ~$35k... 36months/10k miles. Have 12.5k miles on her. Carmax/Carvana offering $38-40k. How difficult is the trade in process and paying off the lease. I'm treating both as separate transactions but wondering if carmax/carvana will take care of the paper works and paying off Acura for me.

Carmax/Carvana has to take care of paying off the lease. They certainly won't give you a check for the full amount, then depend on you taking care of it. They wouldn't have any protection.

songbird330

Carvana and Vroom: Do they pay based on the dealer payoff price or my personal payoff price?

kyfdx

songbird330 said:

Carvana and Vroom: Do they pay based on the dealer payoff price or my personal payoff price?

It will vary by your leasing bank. Some banks have different payoffs for their own dealers vs. third party dealers vs. lessee.

But, your personal payoff might include sales tax, which of course Carvana or Vroom won't have to pay.

Whiteinf05

I have a 2021bmw M440xi lease. My boy out is 51k with 15k allowance a year. How can I check how much my car is worth to get out of the lease and get into another vehicle ?

Thanks

Michaell

Whiteinf05 said:

I have a 2021bmw M440xi lease. My boy out is 51k with 15k allowance a year. How can I check how much my car is worth to get out of the lease and get into another vehicle ?

Thanks

You can use CarMax, Carvana or Vroom to get buy bids, then compare that to your buyout value.