How to Return a Car at The End of Your Lease
How to Return a Car at The End of Your Lease

How to Return a Car at The End of Your Lease

Are you a car owner, and you are planning to sell your car? Why not consider selling your car as a lease? A lot of money can be made if it’s appraised for more than what you owe. You can enter your VIN or license plate and get an instant appraisal that will increase the value of your car. Auto finance companies are well known for predicting a residual value and the car’s worth at the end of the lease term.

Auto finance is good at prediction because that is what they have to do, and the main calculation for lease is knowing the residual value. Fluctuations sometimes occur in the marketplace, and the worth of some Vehicles can be more than the residual value. One of the main causes of such a shift is as a result of the COVID -19 pandemic.

The perfect storm of semiconductor shortages and the delay in the supply chain has made the records of used car values to be high, making the cars scarce over the past years. Consumer demands have been shifted because of the market forces, which has created a huge amount of shortage of used vehicles and has left the dealership in dire need of inventory. Let us see more things needed to make money from a leased car.

How To Make Money From Your Expiring Lease

The first step is to determine if there is any equity in your current car lease. The amount you can purchase the car at the end of the lease is referred to as a residual value. Hence you will check if the car’s current value is more than the residual value.

If you can purchase the car at the end of the lease term of that residual value, then you will be eligible to make some money from the lease company’s less than accurate lower estimate. But if the car’s worth is less than the residual amount, you can return the car without any extra expenses.

What finance companies allow a lease buyout?

Is not everyone privileged to this strategy? So many automotive finance arms do not give chances for a third-party buyout of a leased vehicle. During the past years, there has always been an increase in the list since that dealership, which usually relies on lease returns for them to stock up their inventory of used cars, has now discovered that they seriously need cars to fill their showrooms and lots.

Brands like BMW, General Motors, Honda, and Acura changed their rules last year to ban the sale of a leased vehicle to a third party’s buyer. If you want an independent quote on the value of your vehicle, you need to get your vehicle appraised on Edmunds.

But, you will be able to redeem the offer at our participating dealership. In such an instance, you have no other option than to take your vehicle to any other dealership with the same brand as yours and get an offer, or you will have to buy it directly from the lease company.

The Auto finance companies which have partial or complete restrictions of the off-lease buyout to the third party are as follows:

  • BMW Financial Services
  • Acura Financial
  • Audi Financial
  • Honda Finance
  • GM Financial
  • Ford Credit
  • Tesla
  • Volvo Financial
  • Volkswagen Credit
  • Hyundai Motor Financial
  • Southeast Toyota Financial
  • Infiniti Financial Services
  • Mazda Credit
  • Lincoln Credit
  • Kia Motor Finance
  • Mercedes Benz Financial
  • Nissan Motor Acceptance

The Auto finance companies that don’t have any restrictions on an off-lease buyout for the third party are as follows:

  • Mitsubishi Motor Credit Of America
  • Toyota Financial Services
  • Chrysler Capital includes Dodge, Flat Vehicles, Jeep, Ram, and Chrysler.

Anyone looking to break the car lease cycle and start using a used car should consider it a good idea to buy a leased car. But, before getting a used car, try to check the car history or do your research if you are going to like the car.

Car Leases in NJ & NY Done Right

How does a lease work? If you have more questions, we are here to help!

The Vantage Auto Group provides reliable car leasing options in both New Jersey and New York. On our website (https://www.thevantagegroupauto.com/), you can access an entire inventory of marked down vehicles that fit your lifestyle and your budget.

We also provide a selection of luxury cars at rock-bottom prices. These typically come from unions and corporations that can offer larger discounts. Our professional staff is ready to help find a vehicle to fit your tight budget or find financing solutions that fit your poor credit score. Give us a call at (844)-307-3885 to speak with a live agent, or feel free to email us with any questions.

At The Vantage Auto Group, we save you time, money and peace of mind when it come to Buying your New Car!

No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

There are many places to lease or purchase your next vehicle.  The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!

Get Started Today With Your Personalized Car Quote from Vantage Auto Group!

Good credit, Bad Credit, or looking to get an approval, CONTACT US Today!  We work directly with multiple lenders to find the lowest possible lease rate on a new car lease. Come banks will even help us offer short term lease as short as 12 months if not ready to commit to a 2 or 3 year lease. We can even help you get out of your current car with our swapalease lease transfer program. when using our swapalease program, you will no longer be responsible for your current car.

Price Reflects TIER 1 Credit Approval. Prices are for new lease vehicles only. Images are for Display purposes only. Price Excludes local taxes, acquisition fee & DMV/title. Pricing, lease term, and miles per year may vary. All Incentives are Applied For Qualified Customers including Loyalty Rebate, Conquest Rebate, VPP Rebates, College Graduation Rebates, and Regional Rebates.

No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

There are many places to lease or purchase your next vehicle.  The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!

At Vantage Auto Group, we save you time, money and peace of mind! No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps. With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle.
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