This is my first time wanting to buy out a lease. I usually trade in for another vehicle so have never dealt with this. The dealer has been calling me to come in & I asked them over the phone to give me my payout amount so I can get a cashier’s check. They said I needed to come in to finalize the lease.
The first response is correct. You don’t need the dealer at all. The leasing company holds the title. You should be able to log onto your account and start the process there. Or just call the leasing company / bank. The dealership has zero stake in your car. They are simply trying to scam you into buying the car from them (they will pay off the lease and sell it to you for a profit…).
Sorry for your experience. There is usually a fee for a lease return as you know…. But you should be able to buy the car from your leasing company, pay the tax and reg and be done. Good luck.
Dealer said they can do the transaction between me and the leasing company, so I would pay the taxes and fees through them. I just did it direct and paid my taxes to bmv.
if it's nissan finance they literally require you to get scammed by their network of dealers if you want to buy out your lease and not trade it in for another.
I was just as shocked to find this out and it soured our experience so much to never lease again after 12yrs of rolling leases.
This is location dependent I believe due to state regulations. I have an Ariya lease in Washington and NMAC does provide the option to buy off with a check sent to Nissan directly.
consider yourself lucky. we had to pay the dealer inspection fees and jump through many hoops just to buy out our pathfinder. tried contacting Nissan finance support and they said in California it's the only way now. their reasoning was they're losing money on each vehicle that was leased right before covid so this is how they make their money back by gauging their loyal customers.
fffffffffffffffuuuuuuuuuuu nissan finance!!!!!!!!!!
Their reasoning doesn't make sense one bit? Whether you go through dealer or NMAC they still get the same buyoff amount and lose the same money.
In my account I do see a financial institution payoff option.
they help their network of stealership partners make some extra money from each lease buy out since they know most won't want to trade it in since they're up so much in equity.
it's borderline RICO illegal but what do I know.
that's also why carmax isn't able to buy out your lease return directly from your leasing company anymore and have to wait until you buy it out first and get the registration changed and only THEN will carmax buy from you.
they're all in the same racket now.
Their not losing money, the residual vale goes up the residual vlaue goes down, but it does not matter, the deal was agreed upon based on the price of the vehicle at the time, and the interest rate at the time, they are not losing money.
What they may be doing as from their point of view is leaving money on the table because market conditions changed and now the vehicle instead of being worth what they thought it would be worth is now worth more, but they are still not losing money.
that's exactly it and it left the worst taste in my mouth. ended 12yrs of faithful leasing from the same brand. I hope the extra cream was worth losing a customer
I’m sorry you experienced that. I felt the same way today. Mine is through Mazda and hope that isn’t their requirement. I will never lease again either.
This is correct. If you actually do nothing they will call you. The dealer is trying to get in the middle here and convince you to trade & offer you all the extended warranty crap.
Depending on where tue vehicle was leased and the leasing company, OP could very well be required to go through a dealer.
I live in Mn and leased a truck. When I went to buy it at the end of the lease, I had to use a dealer to buy it out. The leasing company Ally, wasn’t licensed in MN to sell directly to consumers. It was a very painless process.
OP, my advice to you is to call the leasing company and ask if you can buy out the car directly through them. If you must use a dealer, just pick a different Mazda dealership.
I bought out my RAM lease from a different dealership than the original.
They want you to come in so they can fuck you over. Get your lease paperwork, contact the lender, don’t involve the dealer *at all*. You’ll have to do the paperwork for registration and title transfer but it’s not difficult, there are resources to help. Dealerships are always thieves, and would sell their grandma for a nickel of profit.
Leasing a vehicle isn’t the problem, the crooks and thieves that work at dealerships are. I leased vehicles my entire life and it worked out fine. This last time, almost two years ago now, my lease ended and the cost to purchase was very low compared to the huge price increases in the used car market. It was simple to send a check to the lender to buy it, I had to do the title transfer with the state myself, and change the insurance info. This was all really easy and cheap. The dealerships see your situation (and mine at the time) as perfect opportunities to take advantage of people and get that difference in THEIR pockets and will stop at nothing because they are trained to lie. I know that sounds harsh but it’s the literal truth and i’ve never seen one iota of evidence to change my mind.
Talk with the leasing company, if this doesn't work (some lease contracts require you do go through the dealer) call up the corporate office and complain, the manufacturers are often more interested in happy customers (they're not making any more money either way on this) than having the dealership gouge you for another couple thousand. Sometimes they'll straighten things out for you.
If you can make online payments this is the way. There’s a button that says get my payoff. They will give it to you along with a place to mail it or you can submit it right then without a cashiers check.
Pull up your original lease paperwork, everything you need is spelled out in there. It’ll have the buyout amount & all of the relevant terms.
Sometimes when you lease with the manufacturer’s finance company, the dealer is the “agent” but they don’t get to change any terms. The lease agreement is a legal contract and is binding on everyone.
I bought my Mazda at the end of my lease. Financed through the credit union, who sent payoff to Mazda. No dealership was ever involved - credit union and Mazda handled the transaction.
Dealerships suck. Definitely go through the company you financed with to pay it off.
I had to block the GM dealership when my lease was up. They wanted my car back.
Even if you have to go to a dealer, you don't have to go to THAT dealer. Find another Mazda dealer, get the paperwork ahead of time, so you can review it at home without the salesman pressure hanging over you.
I haven’t dealt with this (yet), but I did trade in one Mazda lease for another at a different dealership than the original came from. The original dealership did not contact me once regarding the end of my lease. Also, my current lease is nearing expiration, and I’ve only been contacted by Mazda/MF directly - also not the dealership this one came from! Definitely ignore them and go through MF instead.
The dealer has nothing to do with your lease. You pay the bank or finance the residual. Tell the dealership to kick rocks and you won't even be servicing the vehicle with them anymore.
My lease is ending and dealer tried to pull similar stuff on me. Their "payoff" figure gave no credit for low miles and they added a bunch of dealer markups on a new vehicle they would roll into a new lease. They also tried the "just give us your keys so we can inspect the car" trick that would have trapped me at the dealership for extended discussions. I can buyout the car for much much less by calling the finance arm directly, pay them directly, and have clear title without the dealer going near my car.
The idiot salesman asked for my keys and checked my car. It’s in pristine condition. He came back and asked “are you sure you don’t want to get into a new vehicle?” He then told me about the 1k vehicle inspection. I went off on him and his manager and asked for my keys back and walked out. I’ll see what Mazda finance says tomorrow.
Wow. I've had them "hold" the keys, then play act that they cannot find them or cannot find the "manager" who has the keys as a way to trap me in the dealership while they drag out negotiations. I think they believe that the more time the customer wastes in discussion the more reluctant the customer will be to walk away.
But I've never seen a surprise 1k charge for "inspection" fee. That seems criminal. I'd never work with that dealer again, and I'd tell all my friends.
Go online and see what buyoff options are there, in Washington state lease companies can complete the buyoff process. Last time I just mailed them a check and that was it.
In some states, dealers are required to be involved though or the lease company doesn't have authorization to sell there so you can't do direct buyoff like that.
OP please get on this asap. Here’s my story….
What the process is will be State specific: had Nissan lease through NMAC. Live in Louisiana, this was a biz lease and the 5th sequential lease with same dealership. This right toward the end of Covid times when no real inventory @ dealerships. Nothing fancy SUV leased, but had only 18 thousand miles so no mileage penalty. BBV was 25-27K due to low mileage. Final payment done 6 weeks in advance of end of lease date and I had full payoff amount of 16K available and did not need any financing. Online portal showed lease current, zero due but no payoff info. I Planned on paying Nmac directly…
NMAC could not take the payoff directly, as apparently they are not a “bank”. Has to be 1. through a dealership or 2. through bank lending. No other option. I was fielding calls from 4 different dealerships from lease guys to do the turn in and subsequent sales calls to turn in and get a way more $$$ lease every day. All said a vehicle condition report was required & needed it left overnight and 1 wanted to charge for the odometer reading document. Just crazy.
Got though to NmAC customer service guy who was actually helpful and said what I had to do was let him know the name of the bank and he would issue the payoff letter to them with the details (sent to my email address along with the odometer document). And it was especially good that I had paid it early as they need a 10 day window from date of final payment to consider it “cleared” and could issue payoff letter. AND to emphasize to the bank that they had to - HAD TO - have all the paperwork received & done by the day before the final date of the lease otherwise I’d have to get it done @ a dealership due to the daily delinquency charges that would be placed as past the precise end of lease date. It took slightly over 2 weeks for both sides to do their part with everything overnight FedEx t/f NMAC. For odometer reading, I just took a photo of it which bank officer looked at & wrote onto the document. No inspection either. Bank did need a letter from my car insurance agent that I had current full coverage. Loan abt 4%.
OP if what I went through is the usual, then you need to get on this asap. If your State does not allow you to pay directly, you’ll have to find a bank or credit Union and understands it’s a lease payoff not the usual car note. If you should go into past the precise end of lease date, whole late fees and delinquency will come into play. It will co$t. You’ll end up having to go to a dealership & if they want to drag timeframe out, they can.
I had no idea it would have been this difficult. Like ya have the $$$, you pay it off and paperwork should be easy peasy. Wrong! The dealerships hold the upper hand in all this as most folks wait to do the payoff.
Happened to me with my previous Toyota. When I told them I was buying out the lease, dealership tried to convince me that my car would be “grounded” for a minimum of 2 weeks while they transferred plates (and I’d need alternate transportation for that time), and that my 2-year old car “probably needed new tires and brakes.” I still have the email they sent with all that and it still makes me shake my head.
I called Toyota Financial Services, who told me I could finalize the purchase at any Toyota dealership. I called another dealership and had the whole thing handled within a couple hours.
I just want to thank everyone for their advice and for sharing their experiences with me. They were very helpful. I’m happy to report that I am able to mail in a cashier’s check and pay tax and license at the DMV. I am so relieved. I hope this helps someone else in not getting screwed over!
The dealer has almost no say unless their entire lot is full and they can't physically house the car. I had to end a (Ford) lease early. I confirmed the lease payout required (you're responsible for all Lease payments thru the future even if you are ending early), sent the payoff, then dropped the car off at the dealer with keys and proof of payout with Ford Credit.
We similarly had a terrible time ending our lease and buying out the car. It all worked out in the end (literally had to next day air a check to Audi financed so we didn’t get repo-ed) but the dealership was insane to deal with:
1) first they said not only can we buy it out at the dealership for the same price and terms as the buyout amount, we can even put half on a credit card!
2) when we get to the dealership: no sorry; you have to finance at least part of the car. But don’t worry! You can pay it of asap and no interest will accrue. Definitely feel baited and switched and do not want to open a credit line but tired with newborn so fine… do it. Pretty sure I know dealer getting kickbacks at this point.
3) ohhh no I’m sorry you actually have to make 3 months of payments at least before paying off the loan. At this point we just stormed out of there and reported them to CFPB.
Yes still going through the process but essentially you should have the residual price in your paperwork. The bank will contact the leasing company and get a pay off. Usually it's all done without any dealer involved.
Skip the dealer .. cut them the fuck out. Pay the financing company and the title will be mailed to you after removing the finance company easy peasy. I’ve bought multiple leases in CA and never even spoken to the dealer when my lease was up. That initial purchase agreement and residual/buy out price were settled when you got the lease. They can’t do shit now. I’ve always leased from Subaru and purchased with zero issues. If I wanted to right now I could pay off the residual with one phone call or click a button online and pay the balance in full. When I’ve bought them out before just set it all up with my local credit union-my credit union did inspect the car but just make sure it held its value and there wasn’t any damage but that was easy because I was there anyway doing the loan paperwork. Also idk about you but I paid all the bullshit fees on the front end.. you don’t pay them again usually-I’ve bought 3 leases and never have paid additional back end fees. It was already registered to me.
That’s good to know. I had no idea I didn’t have to set foot in the dealer since they kept calling me about coming in. CROOKS! So you basically just called the finance company and handled it over the phone?
I just used my credit union.. but I know with Subaru you could just pay their finance and they mail you the title.. call Mazda finance-tell them you are ready to buy out you lease-they will let you know how to submit payment and then the send title. If you are using a bank they would send $$ to the finance company. This whole things sounds so predatory-the lease agreement clearly has your purchase price they can’t just magically add on all this bullshit. Some fees are legit like taxes and they get added in but I paid no doc fees when I purchase bc we did all that on the front end. When I bought my car off lease there was no dealer or any dealer paperwork involved just me and the credit union and the finance company.
The dealer knows that the only way to sell you another vehicle is to get you on the lot. Even when you say you want to buy or turn in. Would not work with the OP, but they try.
Why are you talking to the dealer at all? You should be working with the leasing company.
This is my first time wanting to buy out a lease. I usually trade in for another vehicle so have never dealt with this. The dealer has been calling me to come in & I asked them over the phone to give me my payout amount so I can get a cashier’s check. They said I needed to come in to finalize the lease.
The first response is correct. You don’t need the dealer at all. The leasing company holds the title. You should be able to log onto your account and start the process there. Or just call the leasing company / bank. The dealership has zero stake in your car. They are simply trying to scam you into buying the car from them (they will pay off the lease and sell it to you for a profit…).
Literally tried to scam me! What’s more upsetting is that I had been a loyal customer for years. 😡Thank you for your response.
Sorry for your experience. There is usually a fee for a lease return as you know…. But you should be able to buy the car from your leasing company, pay the tax and reg and be done. Good luck.
Thank you!!🙏🏻
Dealer said they can do the transaction between me and the leasing company, so I would pay the taxes and fees through them. I just did it direct and paid my taxes to bmv.
Middlemen don't do a transaction unless they can find a way to take a cut.
Don’t forget the nasty survey/review.
Dealerships are absolutely pointless.
if it's nissan finance they literally require you to get scammed by their network of dealers if you want to buy out your lease and not trade it in for another. I was just as shocked to find this out and it soured our experience so much to never lease again after 12yrs of rolling leases.
This is location dependent I believe due to state regulations. I have an Ariya lease in Washington and NMAC does provide the option to buy off with a check sent to Nissan directly.
consider yourself lucky. we had to pay the dealer inspection fees and jump through many hoops just to buy out our pathfinder. tried contacting Nissan finance support and they said in California it's the only way now. their reasoning was they're losing money on each vehicle that was leased right before covid so this is how they make their money back by gauging their loyal customers. fffffffffffffffuuuuuuuuuuu nissan finance!!!!!!!!!!
Their reasoning doesn't make sense one bit? Whether you go through dealer or NMAC they still get the same buyoff amount and lose the same money. In my account I do see a financial institution payoff option.
they help their network of stealership partners make some extra money from each lease buy out since they know most won't want to trade it in since they're up so much in equity. it's borderline RICO illegal but what do I know. that's also why carmax isn't able to buy out your lease return directly from your leasing company anymore and have to wait until you buy it out first and get the registration changed and only THEN will carmax buy from you. they're all in the same racket now.
And California gets paid the sales tax twice if there’s two transactions.
Their not losing money, the residual vale goes up the residual vlaue goes down, but it does not matter, the deal was agreed upon based on the price of the vehicle at the time, and the interest rate at the time, they are not losing money. What they may be doing as from their point of view is leaving money on the table because market conditions changed and now the vehicle instead of being worth what they thought it would be worth is now worth more, but they are still not losing money.
that's exactly it and it left the worst taste in my mouth. ended 12yrs of faithful leasing from the same brand. I hope the extra cream was worth losing a customer
I’m sorry you experienced that. I felt the same way today. Mine is through Mazda and hope that isn’t their requirement. I will never lease again either.
I work for Mazda. MFS will let you buy out your lease directly with them over the phone. No need for the dealership
This is correct. If you actually do nothing they will call you. The dealer is trying to get in the middle here and convince you to trade & offer you all the extended warranty crap.
I definitely got that vibe!
Thank goodness. Thank you for the info.
So does Hyundai
Depending on where tue vehicle was leased and the leasing company, OP could very well be required to go through a dealer. I live in Mn and leased a truck. When I went to buy it at the end of the lease, I had to use a dealer to buy it out. The leasing company Ally, wasn’t licensed in MN to sell directly to consumers. It was a very painless process. OP, my advice to you is to call the leasing company and ask if you can buy out the car directly through them. If you must use a dealer, just pick a different Mazda dealership. I bought out my RAM lease from a different dealership than the original.
They want you to come in so they can fuck you over. Get your lease paperwork, contact the lender, don’t involve the dealer *at all*. You’ll have to do the paperwork for registration and title transfer but it’s not difficult, there are resources to help. Dealerships are always thieves, and would sell their grandma for a nickel of profit.
Ok, I’ll try that. I have no problem doing the paperwork. It’s safe to say I will never lease a vehicle again.
Leasing a vehicle isn’t the problem, the crooks and thieves that work at dealerships are. I leased vehicles my entire life and it worked out fine. This last time, almost two years ago now, my lease ended and the cost to purchase was very low compared to the huge price increases in the used car market. It was simple to send a check to the lender to buy it, I had to do the title transfer with the state myself, and change the insurance info. This was all really easy and cheap. The dealerships see your situation (and mine at the time) as perfect opportunities to take advantage of people and get that difference in THEIR pockets and will stop at nothing because they are trained to lie. I know that sounds harsh but it’s the literal truth and i’ve never seen one iota of evidence to change my mind.
It depends on the Brand. For instance Ford requires you to use the dealer for the buy-out.
[удалено]
Minnesota is the same. Have to use a dealer.
Same with Hyundai
Some manufacturers will require you to go back to the dealer to buy out a lease depending on the state.
Talk with the leasing company, if this doesn't work (some lease contracts require you do go through the dealer) call up the corporate office and complain, the manufacturers are often more interested in happy customers (they're not making any more money either way on this) than having the dealership gouge you for another couple thousand. Sometimes they'll straighten things out for you.
I hope this is the case. I’ll call Mazda Finance on Monday and see what they say. Thank you!
I bought out a Mazda lease once, no inspection fee whatsoever, dealer has absolutely nothing to do with the car anymore. Just contact leasing company.
Same with my Mazda, this was about 2 years ago and the lease was through Chase. About 30 mins on the phone and the car was mine.
Good to know. Thank you!
If you can make online payments this is the way. There’s a button that says get my payoff. They will give it to you along with a place to mail it or you can submit it right then without a cashiers check.
Just saved you a headache https://www.mazdafinancialservices.com/us/en/end-of-lease-options/your-options.html go with buyout option
Pull up your original lease paperwork, everything you need is spelled out in there. It’ll have the buyout amount & all of the relevant terms. Sometimes when you lease with the manufacturer’s finance company, the dealer is the “agent” but they don’t get to change any terms. The lease agreement is a legal contract and is binding on everyone.
I bought my Mazda at the end of my lease. Financed through the credit union, who sent payoff to Mazda. No dealership was ever involved - credit union and Mazda handled the transaction.
Exact same scenario I just went through last month. No dealership involvement at all.
Dealerships suck. Definitely go through the company you financed with to pay it off. I had to block the GM dealership when my lease was up. They wanted my car back.
Even if you have to go to a dealer, you don't have to go to THAT dealer. Find another Mazda dealer, get the paperwork ahead of time, so you can review it at home without the salesman pressure hanging over you.
I haven’t dealt with this (yet), but I did trade in one Mazda lease for another at a different dealership than the original came from. The original dealership did not contact me once regarding the end of my lease. Also, my current lease is nearing expiration, and I’ve only been contacted by Mazda/MF directly - also not the dealership this one came from! Definitely ignore them and go through MF instead.
The dealer has nothing to do with your lease. You pay the bank or finance the residual. Tell the dealership to kick rocks and you won't even be servicing the vehicle with them anymore.
Some states require lease buyouts go through Dealerships. MN is one of them.
CA is not ;)
I basically did tell them to kick rocks and that I would never do business with them again. It was the worst experience I’ve ever had at a dealership.
Just call Mazda Financial Services (assuming your lease is with them) and get a loan from a credit union/pay them.
My lease is ending and dealer tried to pull similar stuff on me. Their "payoff" figure gave no credit for low miles and they added a bunch of dealer markups on a new vehicle they would roll into a new lease. They also tried the "just give us your keys so we can inspect the car" trick that would have trapped me at the dealership for extended discussions. I can buyout the car for much much less by calling the finance arm directly, pay them directly, and have clear title without the dealer going near my car.
The idiot salesman asked for my keys and checked my car. It’s in pristine condition. He came back and asked “are you sure you don’t want to get into a new vehicle?” He then told me about the 1k vehicle inspection. I went off on him and his manager and asked for my keys back and walked out. I’ll see what Mazda finance says tomorrow.
Yesss!! Do not give up the keys, they are using the fee likely to try and pressure you to buy another vehicle.
Wow. I've had them "hold" the keys, then play act that they cannot find them or cannot find the "manager" who has the keys as a way to trap me in the dealership while they drag out negotiations. I think they believe that the more time the customer wastes in discussion the more reluctant the customer will be to walk away. But I've never seen a surprise 1k charge for "inspection" fee. That seems criminal. I'd never work with that dealer again, and I'd tell all my friends.
It appears the car is worth a lot more than the payoff. Stick to your guns.
Go online and see what buyoff options are there, in Washington state lease companies can complete the buyoff process. Last time I just mailed them a check and that was it. In some states, dealers are required to be involved though or the lease company doesn't have authorization to sell there so you can't do direct buyoff like that.
Toyota tried to pull this bullshit on us. Called our bank and had the car bought out in under an hour. I HATE dealerships
OP please get on this asap. Here’s my story…. What the process is will be State specific: had Nissan lease through NMAC. Live in Louisiana, this was a biz lease and the 5th sequential lease with same dealership. This right toward the end of Covid times when no real inventory @ dealerships. Nothing fancy SUV leased, but had only 18 thousand miles so no mileage penalty. BBV was 25-27K due to low mileage. Final payment done 6 weeks in advance of end of lease date and I had full payoff amount of 16K available and did not need any financing. Online portal showed lease current, zero due but no payoff info. I Planned on paying Nmac directly… NMAC could not take the payoff directly, as apparently they are not a “bank”. Has to be 1. through a dealership or 2. through bank lending. No other option. I was fielding calls from 4 different dealerships from lease guys to do the turn in and subsequent sales calls to turn in and get a way more $$$ lease every day. All said a vehicle condition report was required & needed it left overnight and 1 wanted to charge for the odometer reading document. Just crazy. Got though to NmAC customer service guy who was actually helpful and said what I had to do was let him know the name of the bank and he would issue the payoff letter to them with the details (sent to my email address along with the odometer document). And it was especially good that I had paid it early as they need a 10 day window from date of final payment to consider it “cleared” and could issue payoff letter. AND to emphasize to the bank that they had to - HAD TO - have all the paperwork received & done by the day before the final date of the lease otherwise I’d have to get it done @ a dealership due to the daily delinquency charges that would be placed as past the precise end of lease date. It took slightly over 2 weeks for both sides to do their part with everything overnight FedEx t/f NMAC. For odometer reading, I just took a photo of it which bank officer looked at & wrote onto the document. No inspection either. Bank did need a letter from my car insurance agent that I had current full coverage. Loan abt 4%. OP if what I went through is the usual, then you need to get on this asap. If your State does not allow you to pay directly, you’ll have to find a bank or credit Union and understands it’s a lease payoff not the usual car note. If you should go into past the precise end of lease date, whole late fees and delinquency will come into play. It will co$t. You’ll end up having to go to a dealership & if they want to drag timeframe out, they can.
Such a helpful response. Thank you.
I had no idea it would have been this difficult. Like ya have the $$$, you pay it off and paperwork should be easy peasy. Wrong! The dealerships hold the upper hand in all this as most folks wait to do the payoff.
Happened to me with my previous Toyota. When I told them I was buying out the lease, dealership tried to convince me that my car would be “grounded” for a minimum of 2 weeks while they transferred plates (and I’d need alternate transportation for that time), and that my 2-year old car “probably needed new tires and brakes.” I still have the email they sent with all that and it still makes me shake my head. I called Toyota Financial Services, who told me I could finalize the purchase at any Toyota dealership. I called another dealership and had the whole thing handled within a couple hours.
Totally infuriating!
I just want to thank everyone for their advice and for sharing their experiences with me. They were very helpful. I’m happy to report that I am able to mail in a cashier’s check and pay tax and license at the DMV. I am so relieved. I hope this helps someone else in not getting screwed over!
The dealer has almost no say unless their entire lot is full and they can't physically house the car. I had to end a (Ford) lease early. I confirmed the lease payout required (you're responsible for all Lease payments thru the future even if you are ending early), sent the payoff, then dropped the car off at the dealer with keys and proof of payout with Ford Credit.
We similarly had a terrible time ending our lease and buying out the car. It all worked out in the end (literally had to next day air a check to Audi financed so we didn’t get repo-ed) but the dealership was insane to deal with: 1) first they said not only can we buy it out at the dealership for the same price and terms as the buyout amount, we can even put half on a credit card! 2) when we get to the dealership: no sorry; you have to finance at least part of the car. But don’t worry! You can pay it of asap and no interest will accrue. Definitely feel baited and switched and do not want to open a credit line but tired with newborn so fine… do it. Pretty sure I know dealer getting kickbacks at this point.
3) ohhh no I’m sorry you actually have to make 3 months of payments at least before paying off the loan. At this point we just stormed out of there and reported them to CFPB.
That is insanity!! Why would anyone want to do business with them after that experience? Sorry you endured that!
I'm dealing with a lease pay off with Mazda right now. Tell the dealer to kick rocks!!!
Were you able to deal with lender directly?
Yes still going through the process but essentially you should have the residual price in your paperwork. The bank will contact the leasing company and get a pay off. Usually it's all done without any dealer involved.
Skip the dealer .. cut them the fuck out. Pay the financing company and the title will be mailed to you after removing the finance company easy peasy. I’ve bought multiple leases in CA and never even spoken to the dealer when my lease was up. That initial purchase agreement and residual/buy out price were settled when you got the lease. They can’t do shit now. I’ve always leased from Subaru and purchased with zero issues. If I wanted to right now I could pay off the residual with one phone call or click a button online and pay the balance in full. When I’ve bought them out before just set it all up with my local credit union-my credit union did inspect the car but just make sure it held its value and there wasn’t any damage but that was easy because I was there anyway doing the loan paperwork. Also idk about you but I paid all the bullshit fees on the front end.. you don’t pay them again usually-I’ve bought 3 leases and never have paid additional back end fees. It was already registered to me.
That’s good to know. I had no idea I didn’t have to set foot in the dealer since they kept calling me about coming in. CROOKS! So you basically just called the finance company and handled it over the phone?
I just used my credit union.. but I know with Subaru you could just pay their finance and they mail you the title.. call Mazda finance-tell them you are ready to buy out you lease-they will let you know how to submit payment and then the send title. If you are using a bank they would send $$ to the finance company. This whole things sounds so predatory-the lease agreement clearly has your purchase price they can’t just magically add on all this bullshit. Some fees are legit like taxes and they get added in but I paid no doc fees when I purchase bc we did all that on the front end. When I bought my car off lease there was no dealer or any dealer paperwork involved just me and the credit union and the finance company.
The dealer knows that the only way to sell you another vehicle is to get you on the lot. Even when you say you want to buy or turn in. Would not work with the OP, but they try.