Time to get a new GM lease—whether Cadillac, Chevy, or GMC. If you’re not sure whether to trade in your old GM or let a third-party buyout your lease, then you might want to understand the new GM’s restriction on third-party lease sales.
If you’re ready to get a new Cadillac lease, Chevy, or GMC lease but are unsure how to get out of your current early lease, you should consider a lease buyout. When considering doing a GM trade-in, many options are available for you. You can choose to sell your lease at Carvana, CarMax, or Vroom or privately sell your lease. You can as well sell your lease to a dealership.
Out of all these options, selling through a dealership like VIP Auto and third-party like Carvana and CarMax are the most popular options for many people. However, which of them offers a better way to save dollars?
GM Financial Third-Party Lease Sale Restriction
If you’re looking to offload your GM lease—Chevy lease, GMC lease, or Cadillac lease through third-party buyouts, you might want to have a rethink. Last year, GM announced that GM financial would no longer allow its customers to sell their lease to a third party like the CarMax, Carvana, Vroom, and non-GM dealers.
The value of used cars keeps rising, courtesy of microchip shortages and other supply chain disruptions. Inventory on new and used cars is now tighter than ever. To adjust to this, several banks and auto financing arms, including GM Financial, are putting an end to allowing their customers to sell their leases to anybody other than some select car dealers and official lease brokers.
In order words, GM financial, as well as other banks and credit unions, will no longer work with third-party bodies like Vroom, Carvana, and some local dealers.
VIP Vs Carvana, CarMax, & Vroom
Before the GM financial restrictions on third-party lease buyout, car dealers like CarMax, Vroom, and Carvana offered an alternative for auto lease owners to trade in their cars.
Trading in your car with dealerships like VIP auto offers many advantages over dealers like CarMax and Carvana. While you can sell your car lease with these third parties in no time, they do not guarantee that you’d be saving some money.
When you want to sell your lease to these dealers, they will offer a non-negotiable price after carrying out an independent appraisal on your car. You either take it or walk away. But with VIP Auto dealerships, you can get the best bargains. In addition, you can get loads of incentives if you want to trade in your car for another one.
Finally, following the fallout between these third-party bodies and many auto financing arms, if you want to find the best financing for your new lease or you already have one on your old lease, VIP can help you negotiate with banks and auto lenders to get you out of your lease.
To trade in your GM lease today, reach out to VIP Auto at 1204 Hylan Blvd, Staten Island, NY 10305 https://viplease.com/.