my lease is up and someone wants to buy it from Nissan Motors

[Quick Commenter]

Originally Posted by amylauren

Hi everyone! Thank you for your feedback! I had several people interested in the car. The buyout is 17k and they sell for more outside of this buyout. I would keep it myself but really do not need another car. I am going to call Nissan Motors who has the financing of the lease. If they can come up with a way it can be done legally and safely for me.. then I will consider it. If not, I'll just have to eat the loss.

What loss?

[94nasupra]

Originally Posted by Quick Commenter

What loss?

If the buyout is 17k but the car is worth 22k your walking about from the built in equity which is a loss.

[amylauren]

Originally Posted by sirtiger

Nissan doesn’t own your lease. Your leasing company does.

Also you have to pay sales tax on the buyout and some fees. So it is more than 17k

My car is leased through Nissan Motor Acceptance Co


No..I bought out the other rogue leased at the same time. My buyout is around 15K and with the tax it was $16900.

[amylauren]

Originally Posted by 94nasupra

For 18700ish all in price I’d buy the car outright drive it to car max with an pre authorized offer (assuming it’s 2-3k more) and ride off into the sunset since the poster doesn’t need a new car. Drop the plates off at the dmv and be done.

It would actually be 16900 including tax. I don't have the 16900 to purchase the car

[gx89]

Originally Posted by amylauren

It would actually be 16900 including tax. I don't have the 16900 to purchase the car

Get an offer from carmax and carvana and vroom. Carmax is on Hempstead turnpike in east meadow. Other 2 are online. If they offer a few thousand more than buyout just buy it via finance. Then go sell it immedialty and when you get the bill for the loan in month 1 pay it off in full. Just make sure the loan has no pre payment penalty, it’s very rare to have that.

I sold a car to car max for 18.4K in March they put on 2 new tires and removed some small dings and detailed it they resold it for 21k.

[Grlzrl]

Originally Posted by amylauren

Hi. My car lease is up and someone wants to buy it from Nissan motors. My buyout is several thousand dollars less than the car would be sold for from a dealer. Has anyone ever done this? The person wants to send Nissan motors the check and then have Nissan send them the title.

Go check Carmax. I have heard people are getting more $$ from them on lease buyouts than they would at the dealer.

[amylauren]

Originally Posted by gx89

Get an offer from carmax and carvana and vroom. Carmax is on Hempstead turnpike in east meadow. Other 2 are online. If they offer a few thousand more than buyout just buy it via finance. Then go sell it immedialty and when you get the bill for the loan in month 1 pay it off in full. Just make sure the loan has no pre payment penalty, it’s very rare to have that.

I sold a car to car max for 18.4K in March they put on 2 new tires and removed some small dings and detailed it they resold it for 21k.

Thank you. I put in for an offer and it will perfectly cover my lease buyout including the tax but it says I need to contact the leasing company to make sure that Carmax can buy it.

[94nasupra]

Originally Posted by amylauren

Thank you. I put in for an offer and it will perfectly cover my lease buyout including the tax but it says I need to contact the leasing company to make sure that Carmax can buy it.

So you’ll break even based on you saying it will perfectly cover it? If that’s the case turn it in at the end of the lease and be done. You only really should do this if you have positive equity.

[gx89]

Originally Posted by Grlzrl

Go check Carmax. I have heard people are getting more $$ from them on lease buyouts than they would at the dealer.

You need to make $$ or it doesn’t make sense. You don’t need permission, if you bought it off lease it’s yours. You would just need to wait for the title in your name if you don’t have it. When I sold to carmax, I got a price I drove in 10am on Friday I walked out with my check at 10:45. My ride was 5yrs old and off warranty but had a shade under 20k miles. Being a Toyota they didn’t even look at it all they do was start the car for 20 seconds.

[peconic117]

Originally Posted by Grlzrl

Go check Carmax. I have heard people are getting more $$ from them on lease buyouts than they would at the dealer.

You can't do that anymore. Nissan and most other manufacturers will not allow third party buyouts of leases (like carmax, Vroom etc), they will not release the title. Only thing she can do is: 1. Sell to a Nissan dealer, 2. buy it out then sell it (in which case its rarely worth it because any equity is usually killed by taxes and fees) 3. Sell it through a lease broker.

Lenders that DO NOT Allow Third Parties to Purchase Vehicle Whatsoever:

Acura Financial Services
BMW Financial Services - @HersheySweet 7/22/21
Ford Credit - @reddv1 7/13/21
GM Financial
Honda Financial Services - @AutoNinjas 7/8/21 (effective 7/14/21)
Hyundai Motor Finance - @mrshowtime3 11/30/21
INFINITI Financial Services - @Biftikhar1989 6/18/21
Kia Motors Finance - @mrshowtime3 11/30/21
Lincoln Automotive Financial Services - @reddv1 7/13/21
MINI Financial Services
Nissan Motor Acceptance Company
Southeast Toyota Finance - @reddv1 7/13/21
Volvo Car Financial Services - @jeisensc 9/18/21
Tesla Finance
Credit Union Leasing of America - RVguy 6/15/21