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Discussion Starter · #1 ·
Anyone try to sell their car (VROOM/CARVANA/ALGO/CARMAX) lately?

The chatter is that IFS no longer willing to provide 3rd party buyers any payoff terms. I have a 2018 RS lease that I am trying to buyout/sell to realize all the positive equity that this current used market has created and now this is what I am hearing.

Apparently it has been hit or miss lately, and now I hear that as of Monday all payoff needs to be provided by the dealerships.

Does anyone know what is really going on, and if there is a way around this hurdle?
 

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Anyone try to sell their car (VROOM/CARVANA/ALGO/CARMAX) lately?

The chatter is that IFS no longer willing to provide 3rd party buyers any payoff terms. I have a 2018 RS lease that I am trying to buyout/sell to realize all the positive equity that this current used market has created and now this is what I am hearing.

Apparently it has been hit or miss lately, and now I hear that as of Monday all payoff needs to be provided by the dealerships.

Does anyone know what is really going on, and if there is a way around this hurdle?
I'm confused - you are leasing, and want to buy the car right now, instead of at the end of the term?
 

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Discussion Starter · #3 ·
I'm confused - you are leasing, and want to buy the car right now, instead of at the end of the term?
Correct - the value of used cars is at historic high levels. The level of equity in this car at the moment is insane.

I have 5 months left on the lease and still have a positive equity position.
 

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Correct - the value of used cars is at historic high levels. The level of equity in this car at the moment is insane..
Not getting rid of mine, but here's my 2017 Q60 Red Sport AWD w/28k miles and no nanny package from NADA Guides:
24407

That's insane, considering I bought it at the end of my lease in Feb 2020 for what now is Clean Trade-In.
 

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Anyone try to sell their car (VROOM/CARVANA/ALGO/CARMAX) lately?

The chatter is that IFS no longer willing to provide 3rd party buyers any payoff terms. I have a 2018 RS lease that I am trying to buyout/sell to realize all the positive equity that this current used market has created and now this is what I am hearing.

Apparently it has been hit or miss lately, and now I hear that as of Monday all payoff needs to be provided by the dealerships.

Does anyone know what is really going on, and if there is a way around this hurdle?
I'm running into that same situation with my Infiniti dealership. I'm not quite sure how they can force us to use them to buyout the vehicle when we leased without that restriction being in effect. Probably could be challenged legally.
 

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I had very similar thing happen. I leased an Infiniti in 2019, I was sick of the high payment and a local Mazda dealer was able to give me very very close to what I owed. I got an online payoff, called Infiniti, as well as the dealer called all confirming the payoff amount no where did they tell me third party payoffs were not allowed. This was back around April 23. Infiniti said they never received the check (I waited two weeks to call) and the day I called was the day their policy changed to no longer accepting third party payoffs. I said well I no longer own the vehicle what can I do. I received different answers from the 5 people I called into. I asked to speak to a manager and was told there wasn't one there and they'd have to return my call in 3-5 business days. Long story short that Mazda dealer was able to convince the local Infiniti dealer here to send a check on their behalf, Mazda sent the money to them first then they sent it off. I filed a complaint with the CFPB because they changed the terms on me and we should not have gone through those hoops. I paid off what I was contractually liable for. Life changes for people and as long as the person is doing the right thing and paying off what is owed that should be all that matters. Anyway, I submitted a complaint with the CFPB. I encourage anyone else to do the same thing. They should trust their brand and not force us into these no third party payoffs. Here is the link if anyone else wants to file a complaint too. Submit a complaint | Consumer Financial Protection Bureau
 

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I had very similar thing happen. I leased an Infiniti in 2019, I was sick of the high payment and a local Mazda dealer was able to give me very very close to what I owed. I got an online payoff, called Infiniti, as well as the dealer called all confirming the payoff amount no where did they tell me third party payoffs were not allowed. This was back around April 23. Infiniti said they never received the check (I waited two weeks to call) and the day I called was the day their policy changed to no longer accepting third party payoffs. I said well I no longer own the vehicle what can I do. I received different answers from the 5 people I called into. I asked to speak to a manager and was told there wasn't one there and they'd have to return my call in 3-5 business days. Long story short that Mazda dealer was able to convince the local Infiniti dealer here to send a check on their behalf, Mazda sent the money to them first then they sent it off. I filed a complaint with the CFPB because they changed the terms on me and we should not have gone through those hoops. I paid off what I was contractually liable for. Life changes for people and as long as the person is doing the right thing and paying off what is owed that should be all that matters. Anyway, I submitted a complaint with the CFPB. I encourage anyone else to do the same thing. They should trust their brand and not force us into these no third party payoffs. Here is the link if anyone else wants to file a complaint too. Submit a complaint | Consumer Financial Protection Bureau
Thanks for this. I traded my Infiniti for a Chevy and Infiniti is telling me the same thing, they won’t allow 3rd party lease payoffs. Not sure what to do. I have had my new car since 5/24
 

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Good luck!!! Infiniti responded to my CFPB complaint and said it’s part of my contract to return to an Infiniti dealer so I was out of luck there. Luckily, I bought from an amazing dealer who reached out to a local Infiniti dealer and somehow convinced them to send in a check on their behalf. Mazda dealer wrote Infiniti dealer a check them Infiniti dealer sent in the payoff. I think that’s the only reason it worked for me. I still recommend filing a complaint if they get enough they’ll hopefully relook at their practices. All I know is I will never buy an Infiniti or Nissan again in my life.
 

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Good luck!!! Infiniti responded to my CFPB complaint and said it’s part of my contract to return to an Infiniti dealer so I was out of luck there. Luckily, I bought from an amazing dealer who reached out to a local Infiniti dealer and somehow convinced them to send in a check on their behalf. Mazda dealer wrote Infiniti dealer a check them Infiniti dealer sent in the payoff. I think that’s the only reason it worked for me. I still recommend filing a complaint if they get enough they’ll hopefully relook at their practices. All I know is I will never buy an Infiniti or Nissan again in my life.
I recommend reaching out to the dealer who now owns the car and let them know the situation. See if they can find an Infiniti dealer to do the same. They’re invested since they own the car and need a clear title too.
 
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