119 group truck arrival

Dealers pay less on lease payoffs than the consumer as long as its within 60-90 days before the lease ends.
I know this for fact as I Sold my leased 2021 M3 for 4K more than sticker Only 3 months after getting it. Guy who bought it had a dealer license and his payoff was thousands less than if I was to pay it off. Also depends on the lease company. So, if you are using your lease as a trade in ask the dealer what his payoff amount is and compare because they wont tell you…
 
Dealers pay less on lease payoffs than the consumer as long as its within 60-90 days before the lease ends.
I know this for fact as I Sold my leased 2021 M3 for 4K more than sticker Only 3 months after getting it. Guy who bought it had a dealer license and his payoff was thousands less than if I was to pay it off. Also depends on the lease company. So, if you are using your lease as a trade in ask the dealer what his payoff amount is and compare because they wont tell you…
The dealership buyout payoff was 75k I was on the speaker phone call when they checked. My customer buyout lease payoff was $59,800. I had to pay taxes on the buy out to start a new loan of $4k so now I owe $64k on my base model TRX with 2k miles on it.
 
Knowing the few details that I know, I feel this could have been handled better. I don't necessarily blame the dealership, as this could be well over a month (if everything goes well) for them to finally receive the title on the "trade" vehicle. There is some sort of benefit for a dealership to deliver a vehicle within 14/15 days of it landed on their lot. I don't recall exactly what that is... but I know they don't like to have ordered vehicles sit. Number one, that is on their dime to keep that truck there... and that is putting faith in YOUR financing turning out OK. Again, I don't necessarily blame the dealership; this is business. I likely would've done the same.

As a forum member/enthusiast... yes, this situation absolutely sucks. Were you paying full MSRP? Perhaps you can get another in-transit unit that gets backed out of.
 
Dealers pay less on lease payoffs than the consumer as long as its within 60-90 days before the lease ends.
I know this for fact as I Sold my leased 2021 M3 for 4K more than sticker Only 3 months after getting it. Guy who bought it had a dealer license and his payoff was thousands less than if I was to pay it off. Also depends on the lease company. So, if you are using your lease as a trade in ask the dealer what his payoff amount is and compare because they wont tell you…

I think that you had the right intentions, but you worded this incorrectly. Depending on the captive, it CANNOT be within 60-90 days of lease maturity.. you're unable to complete the deal within that timeframe.

A BMW lease can be taken with a grain of salt, in this instance. As you had said, it always comes down to who the lessor is; everyone likes to do things a bit differently. IIRC it was Ally in this case, which is less than ideal.
 
The dealership buyout payoff was 75k I was on the speaker phone call when they checked. My customer buyout lease payoff was $59,800. I had to pay taxes on the buy out to start a new loan of $4k so now I owe $64k on my base model TRX with 2k miles on it.

Yes, there is no way around if the lessor had contracted the buyout to be market value. You also cannot sell/trade the vehicle at "your" price, as it legally is not yours. You would be able to "oversee" the sale between Ally and your dealership, but you would obviously be looking at the $75k value.
 
Knowing the few details that I know, I feel this could have been handled better. I don't necessarily blame the dealership, as this could be well over a month (if everything goes well) for them to finally receive the title on the "trade" vehicle. There is some sort of benefit for a dealership to deliver a vehicle within 14/15 days of it landed on their lot. I don't recall exactly what that is... but I know they don't like to have ordered vehicles sit. Number one, that is on their dime to keep that truck there... and that is putting faith in YOUR financing turning out OK. Again, I don't necessarily blame the dealership; this is business. I likely would've done the same.

As a forum member/enthusiast... yes, this situation absolutely sucks. Were you paying full MSRP? Perhaps you can get another in-transit unit that gets backed out of.
Yea I’m not blaming them except for the fact it was already a sold unit and customer backed out last month they in turn told me it was in transit. I was in process of getting the buyout done with my bank but since they said it was coming I stopped the process anticipating going there very soon and I didn’t know about the higher buyout pricing. So if they had told me it would be a month or more for it to arrive I could have continued in the buyout and showed up with a 60k number like we had worked all my financing numbers on in December instead up finding out in the spot it was now a 75k trade in amount. I was paying full msrp plus 5k ADM.
 
Yes, there is no way around if the lessor had contracted the buyout to be market value. You also cannot sell/trade the vehicle at "your" price, as it legally is not yours. You would be able to "oversee" the sale between Ally and your dealership, but you would obviously be looking at the $75k value.
Yes and I started that lease in November it was my mistake I should have known better but I also didn’t know the rules had changed on the trading of a lease vehicle with the buyout to now be at market value instead of owed value like I did when I had my last lease.
 
Yes and I started that lease in November it was my mistake I should have known better but I also didn’t know the rules had changed on the trading of a lease vehicle with the buyout to now be at market value instead of owed value like I did when I had my last lease.

Did you have Ally before? The rules have not changed, in general, it depends on the lessor.
 
The dealership buyout payoff was 75k I was on the speaker phone call when they checked. My customer buyout lease payoff was $59,800. I had to pay taxes on the buy out to start a new loan of $4k so now I owe $64k on my base model TRX with 2k miles on it.
Who’s the bank? So basically the bank is now marking up the price to a retail market and not honoring the contracted payoff because a dealer called ? Man that’s crazy even the banks are jumping in the mark up game.
Wasn’t that way with BMW Finance. I also had a 2018 Jeep Grand Cherokee where the lease was up in December and I tried to sell it to Carmax and when I called Chrysler Finance they told me to close to lease end to give dealer discount payoff. Had to do it 90 days prior. Ended up selling it privately and made 6k on the deal. I’ve been leasing cars for many years and some very high end ones at that. Never has this happened where you are making money on lease end sales.
Let’s Go Brandon !!!
 
Who’s the bank? So basically the bank is now marking up the price to a retail market and not honoring the contracted payoff because a dealer called ? Man that’s crazy even the banks are jumping in the mark up game.
Wasn’t that way with BMW Finance. I also had a 2018 Jeep Grand Cherokee where the lease was up in December and I tried to sell it to Carmax and when I called Chrysler Finance they told me to close to lease end to give dealer discount payoff. Had to do it 90 days prior. Ended up selling it privately and made 6k on the deal. I’ve been leasing cars for many years and some very high end ones at that. Never has this happened where you are making money on lease end sales.
Let’s Go Brandon !!!

"High end" vehicles typically have very poor resale and quick depreciation, especially from new. This is why a good majority of that market leases (i.e. BMW), at least the intelligent ones.
 
Who’s the bank? So basically the bank is now marking up the price to a retail market and not honoring the contracted payoff because a dealer called ? Man that’s crazy even the banks are jumping in the mark up game.
Wasn’t that way with BMW Finance. I also had a 2018 Jeep Grand Cherokee where the lease was up in December and I tried to sell it to Carmax and when I called Chrysler Finance they told me to close to lease end to give dealer discount payoff. Had to do it 90 days prior. Ended up selling it privately and made 6k on the deal. I’ve been leasing cars for many years and some very high end ones at that. Never has this happened where you are making money on lease end sales.
Let’s Go Brandon !!!
It was Ally financial. And I’m only 3 months into the lease. But I had a lease at US bank on my last Jeep and when I traded it in after 15 months of a 48 month the amount for the dealership to buy it was the same as what I owed 🤷🏼
 
I think that you had the right intentions, but you worded this incorrectly. Depending on the captive, it CANNOT be within 60-90 days of lease maturity.. you're unable to complete the deal within that timeframe.

A BMW lease can be taken with a grain of salt, in this instance. As you had said, it always comes down to who the lessor is; everyone likes to do things a bit differently. IIRC it was Ally in this case, which is less than ideal.
Yes correct thank you
 
No this is my first ally have ad jp Morgan chase and us bank before

US Bank could be considered just as bad if not worse than Ally. Do not go through US Bank if you think there may be a possibility of getting out of the lease early.
 
US Bank could be considered just as bad if not worse than Ally. Do not go through US Bank if you think there may be a possibility of getting out of the lease early.
Well they are now my traditional loan financing company on my lease buyout it’s who the dealer that’s helping me get out of the lease got it financed with. It’s just short term until the new truck arrives then I’ll be going with my credit union for financing
 
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