Glad to know. May I ask how did you turn the table around? How long were you asking for buyout and what made them change the decision.
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Looking for guidance on Model Y Lease Buyout
- Thread starter Jjr077266
- Start date
So I posted my lease on Swapalease and a dealer reached out to me on there saying that he would just buyout the car for me. He was a dealer out in Cali that apparently does this sort of stuff. Was so easy, and the fact that I actually realized some solid positive equity from a lease that I had for a year and was 5,000 miles over on, was amazing. If anyone wants the guy's info, feel free to DM
Sorry, I'm not able to DM you. Would you be able to pls. DM me instead the number? Thanks
Tesla doesn't allow third-party dealers or third-party individuals to buy Model 3 and Y leases anymore. Looks like you got it done before the rule change, but others won't be so lucky.
Yes, I know we can't induvidually buy out a MY leaseBut 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.
Not sure if this helps anyone else but this was my experience...
Just for kicks I was looking at my lease info under the Account > Manage Lease section to see the parameters of breaking the lease early. Under the Terminate Lease option, there is a Request for Quote button. If you click that it will automatically generate a non-binding quote for you to view the breakdown of the quote including Adjusted Lease Balance and Vehicle Value. Surprisingly my owed balance was $0 due to my 2021 Vehicle Value being high and I only exceeded annual mileage by 1,000 miles. If you decide to proceed, just click next and it will allow you to start the process. You don't have to start the next steps immediately and it will retain where you left off next time you log in. The initial quote is good for 30 days and you can cancel the termination request any time in the process. The next step would be for you to take pics of the vehicle including a penny to show the depth of each tires (the online guide will take you through all the steps). Once you've submitted the pics, they will provide a semi final quote based on wear and tear items. You have 30 days to turn in the vehicle once pics are submitted.
The process was seamless just like the purchasing method -- all online. Once you hand off your car to the local service delivery center, there's a final quote within a week (mine was like 3hrs) and that's it. I knew I wouldn't keep the car after two more years so I decided to terminate now with ZERO balance.
That option has always been there since you’re leasing.
How early did you terminate?
I know it has. I'm just relaying my experiences for anyone that wanted out early. This is my 2nd Tesla Performance vehicle but my first lease. I was 11 months in.
Thinking about doing the same with my Model Y - walking away with no balance and no further payments after a year and 22k miles (love the car but will clearly be over on miles) - but given timing on new delivery, what did you do for a replacement vehicle? Just worried the market is going to tank and making a move now with zero to pay is the safest bet.
