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      04-08-2021, 12:12 PM   #1
akin67
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If you have a lease ending soon, you can make some money

The used car market is very hot where many dealers have limited inventory. As a result, used car prices are at a premium. If you have a current lease that is almost up and you treated the vehicle good, most likely your residual value is a good deal less than the current market value.

Most people think their only two options are to either turn the lease in or buy it out. Well in this market you have a third option. You can go to a few dealers and tell them you are planning on buying the vehicle and selling it for profit, due to the hot used car market. The dealer, who is most likely struggling for inventory may offer to pay you a premium over the residual value to get your car enabling you to make a few thousand dollars. At a minimum you will not be forced to pay excess wear / tear and disposition fees to the dealer. You can do this with any dealer, not just the one you leased the car from. I had a Genesis G90 where the residual value was thousands of dollars less than the current market value. I took my car to a few Genesis dealers and told them what I wanted to do and managed to secure a few thousand dollars net to me. It was hassle free. I made some money and they will make even more when they resell it. And by going this route you don't have to register the vehicle and pay sales tax to your state or deal with the hassle of buying and then trying to sell it yourself. Everyone wins.
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      04-08-2021, 04:28 PM   #2
RMachuca3d
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Be weary, manufacturers will not let profits go without a fight. The latest trend is that some manufacturers are now setting different buyout prices depending on who is buying it, if its the owner, then the buyout is what is agreed on the lease agreement, if its a dealership the manufacturer will most likely have a much higher buyout amount.
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      04-08-2021, 06:06 PM   #3
akin67
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Quote:
Originally Posted by RMachuca3d View Post
Be weary, manufacturers will not let profits go without a fight. The latest trend is that some manufacturers are now setting different buyout prices depending on who is buying it, if its the owner, then the buyout is what is agreed on the lease agreement, if its a dealership the manufacturer will most likely have a much higher buyout amount.
I don't know what others are doing or what they are charging. i am just telling you what I did. Now keep in mind I went to a Genesis dealer to do this on a Genesis vehicle. And by the way, I had told the dealer that I was going to buy and sell me car because the difference between the buyout price and market value was significant and they offered to buy it from me and provide me money on top of the buyout. I could just as well have purchased the vehicle and sold it for a good deal more than what the dealer provided me. But then I would have had to register the vehicle, pay the sales tax, and go through the hassle of selling it on my own. I was concerned that I would have to do test drives with potential buyers etc... But after I turned the vehicle over to the dealer I saw ads for services that will purchase your car at your premise. But again the problem even with this option would have been me buying out the vehicle and waiting weeks to get the title before I can then sell it.
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      04-11-2021, 01:47 PM   #4
nyalpine90
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mine is ending this Oct. i have 23k. white msport G01
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      04-11-2021, 02:03 PM   #5
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I'm in the same situation. I leased a 2019 Audi S5 sportback back in Jan. 2019. I did a 3yr/45k mile lease because I was supposed to be transferred to a different location for work that would require a much longer commute. Change of plans on their part and I ended up almost never driving it because I also have a Raptor I drive. I have about 8 months left on my lease and only 7200 miles and its in mint condition. Very desirable options and color combo(Daytona w/red interior) I know its worth a lot right now and am considering doing the same in selling it to the dealer for a profit.
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      04-11-2021, 06:15 PM   #6
akin67
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Quote:
Originally Posted by swanson View Post
I'm in the same situation. I leased a 2019 Audi S5 sportback back in Jan. 2019. I did a 3yr/45k mile lease because I was supposed to be transferred to a different location for work that would require a much longer commute. Change of plans on their part and I ended up almost never driving it because I also have a Raptor I drive. I have about 8 months left on my lease and only 7200 miles and its in mint condition. Very desirable options and color combo(Daytona w/red interior) I know its worth a lot right now and am considering doing the same in selling it to the dealer for a profit.
You don't even have to wait till your lease expires. Who knows what the used car market will be next January. Right now the market is very hot. You can even sell it now (they will obviously factor in the remaining lease payments).
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