Well, it’s no news that cash offers for used vehicles are at an all-time high now. Thanks to the shortage in supply of semiconductor chips and the ever-rising conflict between supply and demand for used cars, if you’ve ever considered terminating your car lease early, selling your lease now will help you save big. But then, between selling to dealerships like VIP Auto lease and third parties like Carvana, CarMax, or Vroom, which could help you save more?
Yes, you can sell your Chrysler leased car. Besides the high demand for inventory in dealerships due to the high demand for used vehicles, you can get out of your Chrysler lease simply by selling your lease back to VIP Auto lease or third-party dealers. Whichever you choose to go, you can save more money that could have gone to penalties for ending your lease early. You might even end up walking away with more money in your pocket—all these borders down to the equity on your car.
Before you consider selling your leased Chrysler to a dealership or any used car dealer like Carvana or CarMax, you must determine the car’s equity, which means your car’s value.
To find out the equity on your Chrysler, first, you have to find out the residual value of your leased Chrysler. The residual value is always in the lease contract. It means the estimated amount the leasing company thinks the car will be worth at the end of the lease contract. It is used to calculate the buyout price of the vehicle.
After that, find out the potential buyout price of your Chrysler and the current market value. You can find your Chrysler’s market value at sites like Kelley Blue Book and Consumer Reports. Now you have the residual and current values, compare the prices, and know how much you’d be saving or even making from selling your leased car.
Of course, you can choose to sell your car to a third party or any dealership. However, some banks and credit unions now frown at selling a leased car to third parties, including Carvana, Vroom, and CarMax. So, if you have a loan on your vehicle or want to get into a new lease through any of these banks and credit unions, you might consider selling your lease to VIP Auto Lease.
At VIP Auto lease, we can help you negotiate auto loans with any bank or credit union. We can swiftly get you out of your Chrysler lease and even get you into a new lease if you want that.
While these used car dealers—Carvana, CarMax, and Vroom don’t give you room to negotiate a buyout price, we have a policy that allows all our customers to negotiate what they feel is a safe and fair bargain.
Care to save and even make more cash selling your leased Chrysler today? Reach out to VIP Auto Lease at 1204 Hylan Blvd, Staten Island, NY 10305 https://viplease.com/.