With the selling and buying prices of cars going high, if you’re looking to trade in your Dodge lease, you’ll want to save some dollars in the process. You’ll even want to know how to make more money from trading in your leased Dodge. Whether you choose the usual route of selling your lease to a dealership or take the new path of selling to used car dealers like Carvana, Carmax, or Vroom, the goal is the same. Therefore, between selling your leased Dodge to VIP Auto Lease and Carvana, which could put more money back in your pocket?
Can I Sell My Financed Dodge Lease?
Yes, you can sell your Dodge lease, whether you still owe on it or not. One of the enormous benefits of car leasing is that it generally allows the lessee to return the car anytime, any day. Whether you’re at the end of your lease or not, you can exit your lease anytime you want to.
However, terminating your lease early is not always the right step as it promises to with some pricey consequences. But with the recent hike in used car value, selling your leased car back to a dealership or a third party could quickly take out the costs of returning your lease early.
Selling your financed Dodge lease doesn’t necessarily mean that what you owe on the car will go away. You will still have to clear your loans, either from your pocket or from the money in selling your lease. That is where equity comes in.
Always Know your car’s worth!
Equity On A Dodge Car
Equity is simply a measure of how much your car’s worth. Comparing the residual value and its current market value will tell the equity on your Dodge car.
To find your Dodge’s residual or buyout price, check through your lease agreement or contact your leasing company for the buyout price. The buyout price is from the residual value and other possible fees. Next, you need to find out your Dodge’s current buyout price and market value. Going to independent sites like Consumer Reports will give you a clearer view of your Dodge’s current value. This will provide you with a better ground when negotiating the price, especially if you’re selling your leased Dodge vehicle to VIP Auto Lease.
Comparing the residual value with the current value will give you a clear picture of what you can make from selling your car.
For example, you have about 18 months left on your Dodge Durango lease. If the residual value is $17,000, the current value is $21,000, and the buyout price is $18,000. Selling your Dodge Durango to VIP Auto Lease will see you walk away with $3,000.
VIP Auto Lease Vs. CarMax, Vroom
Some banks and credit unions, including Ally Bank, Wells Fargo, US Bank, GM Financial, Ford Credit, VW Credit, and a lot more, no longer allow third-party lease buyouts. If your car is through any of the banks and credit unions that restrict third-party lease buyout, your best option will be to sell your Dodge lease to dealerships.
Selling your leased Dodge to VIP Auto Lease comes with many benefits. At VIP Auto Lease, we can help you negotiate with any of these financial institutions, getting you out of your lease to a new one.
We also offer one of the best lease bargains. As we allow room for negotiation, unlike used car dealers like Carvana and Vroom, you can always count on getting the best possible prices when you sell your lease to us. Our process is quick and fast.
If you want to get out of your Dodge lease today, VIP Auto is here for you. Contact us at 1204 Hylan Blvd, Staten Island, NY 10305 https://viplease.com/.
