Looking for guidance on Model Y Lease Buyout

[Jjr077266]

Yes, I know we can't induvidually buy out a MY lease But I know dealers can and wanted to know if anyone was in a similar situation that they found a resolution to.

I'm way over my mileage on my MY lease only 15 months in. At this point, I'd really like to just buy it out for the Dealer Payoff and call it a day. Then I feel like I can just continue to put 15k miles on annually. Are there any dealers out there that would buy the car at the payoff and then let me purchase that car right back from them? I would obviously put forth a small premium since I wouldn't think they'd do it out of the goodness of their own hearts for the effort of it.

I feel like this could be done, but I don't know if anyone has every figured out how to do it

Any advice would be great.

 

[MatildaModelY]

I know someone that might do this. Do I get a finders fee?

 

[brandon8387]

You need a insider. It’s not typically done

 

[N1L CO2]

Not only is this NOT done, but it's contractually prohibited for the Model Y leases. But I am sure there are folks out there who are happy to work the loophole, if any.

 

[stossie]

Noticed my account changed to "Sell car to dealer no longer available" as of today. This used to have a buyout quote.

In your Account under Lease Summary, click Manage, then Update Lease. Is anyone seeing a $ amount?

 

[N1L CO2]

Noticed my account changed to "Sell car to dealer no longer available" as of today. This used to have a buyout quote.

In your Account under Lease Summary, click Manage, then Update Lease. Is anyone seeing a $ amount?

A lot, if not all, of the leasing companies are doing this now because they are losing out big time on the used-car market due to customers flipping cars and pocketing the difference.

You will need to purchase the car with whatever the buyout amount (if it's allowed) is, then wait for the title to arrive, then turn around to sell it to an outlet of your choice. I have a friend who had to do this very thing with his Suburban where GM leasing would not allow a sale to a third-party dealer. Aside from a month long wait, he still netted a nice chunk of change.

 

[Jjr077266]

Just got off the phone with Tesla finance. Effective 10/29 there are no more dealer buyouts. If you submitted the request before 10/29, they will honor

 

[stossie]

This thread is about Model Y lease buyout, which is not allowed under lease terms. Therefore what you're describing is not possible.

 

[dino007]

There were a couple of places that would do exactly what u said carmax, vroom and carvana

I know a fellow model y owner who did this earlier this year with carvana they bought his lease and then he bought it from them with his bank

But if tesla just changed the 3rd party dealer thing then i guess u got no choice but to wait til they update the verbiage again

 

[Gabo315]

I know someone that might do this. Do I get a finders fee?

If this is legit, I need help. I had the buyout offer open but never executed it because I am waiting on the order of my Performance Model Y (upgrading from Long Range).

 

[Jjr077266]

If this is legit, I need help. I had the buyout offer open but never executed it because I am waiting on the order of my Performance Model Y (upgrading from Long Range).

They will honor open buyout offers but it has to be in the sale dealer's name that is on the request. No changes

 

[Kairide]

Tesla used to let you sell a 3 or Y lease to any third party dealer. They recently changed this due to the inventory shortage, similar to what the legacy manufacturers have done.
What are your lease terms; 2 or 3 years, 10,000, 12,000, or 15,000 miles per year?
At this point if you are already way over your mileage 15 months in, you're screwed. You could never buy a leased 3 or Y yourself and now you can't even sell it to a 3rd party dealership. Your only option is to do a lease return to Tesla when your lease is over. You can request an early lease termination quote, which will be painful financially. You may be better off just parking your Y until your lease is up. You'll be charged $0.25 per mile over your contractual amount so adding on miles wouldn't be a good thing to do.

 

[TSLY]

A lot, if not all, of the leasing companies are doing this now because they are losing out big time on the used-car market due to customers flipping cars and pocketing the difference.

You will need to purchase the car with whatever the buyout amount (if it's allowed) is, then wait for the title to arrive, then turn around to sell it to an outlet of your choice. I have a friend who had to do this very thing with his Suburban where GM leasing would not allow a sale to a third-party dealer. Aside from a month long wait, he still netted a nice chunk of change.

Just flipped my BMW 540i M Sport lease @ a $3K+ profit. BMW didn't make it easy! Had to buy out residual before selling it. Luckily, the buyer was an auto broker who had no trepidation wiring the funds into my bank up front. A convoluted deal but it worked out in the end. The car market is insane!

 

[ckurtis]

Just got off the phone with Tesla finance. Effective 10/29 there are no more dealer buyouts. If you submitted the request before 10/29, they will honor

what's the number to tesla finance, I submitted my request before, and I have a buyout quote, but I'm getting ghosted.

 

[MattCage]

Tesla dealers are allowed to buy any Teslas regardless of model or form of financing, correct?

 

[Kairide]

Tesla dealers are allowed to buy any Teslas regardless of model or form of financing, correct?

There aren’t any Tesla dealers.

 

[MattCage]

There aren’t any Tesla dealers.

Sorry, I thought they were referring to the showroom locations as dealerships.

 

[ns83]

Jjr077266 - were you able to get the lease buyout - any guidance/ insider ​

 

[stossie]

No buyouts at this time, unfortunately.

 

[Jjr077266]

Jjr077266 - were you able to get the lease buyout - any guidance/ insider ​

I got mine in the last day they allowed it. Lease buyout from dealer netted me enough positive equity to get into a new MYP for essentially the same price