[Waltdisney4life]

Avoid Jaykins travel the extra 30 minutes and save yourself a couple thousand dollars in excess of fees!!

[MollyJo]

Originally Posted by gingersnap

Your best option is to take it to CARMAX. I’ve done it. They offer the best dollar for the car. Closest one is in Ocala. Other branches are in Sanford or Orlando. Any branch will be the same quote. They will give you a check on the spot or you have 7 days to take the car back and they will honor the quote. Private message me if you have any questions.

I’ve been on the other end with Car Max, I bought a 2012 BMW X3 with 32,400 miles. It was in mint condition & I paid $20,000. For another $2,000 I received a 5 year warranty or 75,000 miles w/zero deductible. Covers everything except tires, brakes, battery-the basics. It is a 2nd vehicle for me, so I expect to utilize the full 5 years warranty.
Car Max is fair & honest. They won’t dicker with price. Do your homework to get a ballpark dollar amount in your head before showing up on the CarMax lot.

[jimbo2012]

Bill Bryan offered my friend 12k, car gurus $21.250, Vroom $20,600.

$9,000 more!

[Doug Thomas]

Originally Posted by jrref

I have a leased 2019 Honda CRV with very low milage. The lease is finished this coming April and we want to terminate it early since we want to downsize to one car. With all the new and used car shortages what's the best way to approach the dealer? Does it make sense to get someone privately to buy out the lease and purchase the car? With all the negative talk about Jenkins lately are there any other Honda dealerships close to the Villages to work with?

Honda like most all other brands have changed their rules because of the car shortage. You only have 2 options now, 1st buy your lease out in which case you will have to pay sales tax, change of registration, and keep you vehicle insured, 2nd find a dealer or dealer group that owns a Honda franchise and they can buy your vehicle from you and pay you the equity.

Carmax, Carvana & Vroom or any dealer who doesn't own one of the franchises you are trying to sell won't be able to buy your lease out.

How to get the most equity out of your vehicle? Go online to KBB, Carmax, etc. Get a quote, then find a dealer that has the make you are trying to sell & negotiate the purchase with them.

Murgado Auto Group has a buying only center right here in the Villages called, WeBuyCarTrucks, they are located right behind Bargains & Treasures off CR 108 and currently buy 30-50 vehicle a month form our area. They have 18 different franchises so they are allowed to buy vehicles leased through every one of those franchises. They also honor KBB & Carmax prices and give you a check on the spot for your equity.

One of the things that make them stand out from the others is their mobile appraisal and purchase service, they will actually come to your home or office. It is the newest concept where you don't have to go to a dealership and have to deal with all the high pressure to buy something they have, they are only a buying center with all the vehicles they purchase going to one of their stores.

How do I know all of this you ask, because I'm the acquisition manager here.

[ElDiabloJoe]

What's the best way to buy our my lease? Same as the OP, I've got a 3 year lease coming up in May 2022. We are well below the yearly allowed miles, and wish to keep the 2019 Toyota Rav-4. Do I have any options other than paying the $20K Toyota Financial says is the residual value?

[Doug Thomas]

Originally Posted by ElDiabloJoe

What's the best way to buy our my lease? Same as the OP, I've got a 3 year lease coming up in May 2022. We are well below the yearly allowed miles, and wish to keep the 2019 Toyota Rav-4. Do I have any options other than paying the $20K Toyota Financial says is the residual value?

The best & only way to buy your lease vehicle at the end of the lease if you are planning on keeping it, is through Toyota.
You will have to pay sales tax & registration change, but you will be buying it for 3-7,000 less than you could buy a similar one for anywhere else.
If you what to sell your lease vehicle, then do it 1-2 months before the end of the lease to the dealer that has that franchise, this way you don’t pay sales tax & you don’t have to have your money out waiting on the lease company to give you the title back which can take up to 30 days.

[rogerk]

Contact your leasing/finance company, NOT THE DEALER. Find the buy out price. We did that with SETF (Toyota Leasing Co). Once they sent us the clear title we sold the car for $7,000 more than the dealership offered. It was well worth the minimal hassle. 😀

[kkingston57]

Originally Posted by ElDiabloJoe

What's the best way to buy our my lease? Same as the OP, I've got a 3 year lease coming up in May 2022. We are well below the yearly allowed miles, and wish to keep the 2019 Toyota Rav-4. Do I have any options other than paying the $20K Toyota Financial says is the residual value?

Looks like you are in a good postion to buy the vehicle. Residual value was set 3 years ago and did not reflect market condions of used vehicles. Bet that if you give vehicle back to Toyota they will sell vehicle for a lot more than they anticipated 3 years ago.

Good position to be in.

[cronin2]

Having a Honda CRV with low mileage you have one of the hottest used cars on the market. Wanting to terminate a lease early could have some added costs. I suggest you go to the dealer without your Honda and ask what your alternatives are otherwise you might get high pressured into something you don’t want. Other alternative would be to wait until April. That will be here sooner than you think. Prior to April you will get a letter telling what you can buy the car for and you would be in a better bargaining situation.

[bjswist]

Originally Posted by jrref

I have a leased 2019 Honda CRV with very low milage. The lease is finished this coming April and we want to terminate it early since we want to downsize to one car. With all the new and used car shortages what's the best way to approach the dealer? Does it make sense to get someone privately to buy out the lease and purchase the car? With all the negative talk about Jenkins lately are there any other Honda dealerships close to the Villages to work with?

Please give me a call 949-683-8606 I’m interested in purchasing a car like you have.

[Altavia]

It's crazy bring offered close to purchase price on 2 yo vehicles...

The Villages is prime hunting ground for clean high mileage vehicles.

Agree on Jenkins, old school dealership, they offered $31k for a Honda Passport, $36k at Carmax, $37.5k at Carvana.

[asianthree]

Depends on the dealership, some have the first right of refusal. Meaning you may not have an option to buy the car after lease.

My guy just texted me to buy my 3 yo car for $10,000 less than I paid for it. Sadly he doesn’t have anything to sell me to replace it

[Doug Thomas]

Originally Posted by Robbie0723

It's crazy bring offered close to purchase price on 2 yo vehicles...

The Villages is prime hunting ground for clean high mileage vehicles.

Agree on Jenkins, old school dealership, they offered $31k for a Honda Passport, $36k at Carmax, $37.5k at Carvana.

You are so correct, I have been in the car business since 1987, never in my 34 years have I seen used cars APPRECIATE, like this!
Every week I buy a car from a customer where I’m paying original MSRP or thousands over for their 1-3 year old vehicle.

[Seasonal]

Originally Posted by Gunny2403

I had a similar experience with Carvana in Pittsburgh. They exceeded all other offers by over $3000. Check on the spot. Picked up car two hours later.

Another vote for Carvana. Recently sold our second car (Honda) to them for $1,500 more than I paid new, a year prior. We didn't use the extra car much, so why have it in the garage. Working with Carvana couldn't have been easier. They picked the car up and I got paid a day later.

[Villages Kahuna]

Almost without question your car is worth more than your lease buyout price. If you buyout the lease and then sell the car privately you would maximize your profit.

Another alternative is to approach a dealer to buyout your lease. In that case, the dealer would enjoy all the profit from selling your car for much more than the buyout price. Any dealer would jump at the chance of doing that.

A third alternative is to approach a dealer and offer him the right to buyout your lease under the condition that he split the profit with you. Pick the percentage of the split, but 50-50 would be fair. The dealer might want you to use your portion of the profit to buy another car from him, but you can demand your portion of the split be paid in cash.

Remember, you’re in the driver’s seat in this negotiation. You can always revert to buying out your lease and putting an ad in the paper. Your car will sell quickly.