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.
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.
Do Finance companies allow a car 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 a website like Edmunds or KBB.
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
- 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.
Fort Lauderdale’s Most Trusted Car Leasing Company
If you’re looking for car leasing in Fort Lauderdale or the Miami area, Signature Auto Group Florida is the place to be. As a leading leasing broker, we help customers with early lease exits, lease swaps, new leases, and everything in between. With two decades of experience in the New York area collected, our company is confidently expanding its expertise to the South Florida region.
Becoming the go-to company for early lease exits in Miami and Fort Lauderdale is no easy task, but with our commitment to customer service led by a motivated staff, our entry is already favored by most. Standing by you every step of the way, our company strives to guide you in the right direction. Whether buying, leasing, or selling, a dedicated team member is here to attend and impress.
Along with our excellent staff, Signature Auto Group Florida offers a diverse array of services, separating itself from other car dealers in South Florida.
Car Leasing Florida
Serving areas from Aventura to Boca Raton, our reach is vast. As such, our inventory is built to serve all types of clients. With an impressive list of available cars for lease in Miami, we have a special vehicle for everyone.
Leasing a car is beneficial for many consumers. It provides a way to save on costs while evading any long-term commitments. Drivers remain open to the possibility of new vehicles, always able to keep their driveways fresh.
With our extensive industry knowledge and decades-long relationships, we’ve been able to build one of the most desirable inventories around. With most makes and models available, our lot is the only place you need to visit for your next lease.
Contact Signature Auto Group Florida Today!
Signature Auto Group is the best destination for car leasing in the Fort Lauderdale and Miami area. We offer an extensive inventory made up of all makes and models, along with an experienced staff dedicated to making your next visit pleasant and straightforward.
We aim to provide as many avenues of communication as possible, allowing you to interact with our team in a manner that is most comfortable to you. Regardless of the question, feel free to email us directly at email@example.com or use the built-in contact form. If you prefer a call instead, you can reach our team at (561) 709-2277.
You can also stop by our location to speak with us in person. We are located at 291 E Commercial Blvd, Fort Lauderdale, FL 33334.
Fort Lauderdale, Florida Car Leasing Return Center
If you have an car lease that is due to reach maturity, we at Signature Auto Group Florida can accept your lease return even if you did not lease it from us, all makes and models! Let us guide you through the process of turning in your current lease as well as provide all the information you need on leasing a new car.
If your lease is maturing soon, we suggest that a pre-inspection of your vehicle is conducted. This inspection will evaluate your vehicle’s condition using the Vehicle Condition Guidelines. After the inspection, we’ll provide you with a Vehicle Inspection Report, documenting your vehicle’s condition at that time. Save Big by returning your car with Signature Auto Group.
Fort Lauderdale, Florida Car Lease Transfer
A lease transfer works by allowing one driver to transfer their lease to another, who must qualify for credit approval with the finance company. A lease transfer is a simple process in which the name on a lease account is changed for the duration of the term. Other than the registered driver and the name on the lease, the remainder of the lease contract is unchanged. This includes mileage restrictions, wear-and-tear restrictions and the total length of the lease in months.
Fort Lauderdale Early Car Lease Buyout
Want to get out of your car lease early and into another car? Signature Auto Group Florida offers an early lease buyout program just for you. When you are leasing a vehicle, you can purchase your vehicle before the end of the lease contract. There are some instances when your car may be worth more on the market than your buyout price, and in this instance, you can actually make a profit!