Sold My Lease to ALGO

[sethsquire]

Not sponsored post or anything, but since the BW came in this weekend I just sold my leased Genesis to ALGO, which among with Carvana, Vroom etc. is one of those online outfits that buys cars. I had to send some documents and pictures, sign some forms, and then a dude showed up at my house to grab the car this morning and left me an 11.5k check for the equity. It was magical! Would definitely recommend checking them out if you're trying to get rid of a car, and with getting the Blackwing at MSRP I have a rare feeling like I'm winning in the current market.

 

[Throat Yogurt]

Not sponsored post or anything, but since the BW came in this weekend I just sold my leased Genesis to ALGO, which among with Carvana, Vroom etc. is one of those online outfits that buys cars. I had to send some documents and pictures, sign some forms, and then a dude showed up at my house to grab the car this morning and left me an 11.5k check for the equity. It was magical! Would definitely recommend checking them out if you're trying to get rid of a car, and with getting the Blackwing at MSRP I have a rare feeling like I'm winning in the current market.

Glad it worked out for you. When my Genesis G70 lease was coming to an end, I got a few quotes from lease buyout services like that but they were all lower than I expected (~$23k on a $19.5k residual). I ended up getting a quote from Carmax for $28k and used it to negotiate a buyout with my dealer for $27k, so $7,500 equity check. Genesis Financial doesn't allow direct lease buyouts from dealerships like Carmax.

 

[sethsquire]

Glad it worked out for you. When my Genesis G70 lease was coming to an end, I got a few quotes from lease buyout services like that but they were all lower than I expected (~$23k on a $19.5k residual). I ended up getting a quote from Carmax for $28k and used it to negotiate a buyout with my dealer for $27k, so $7,500 equity check. Genesis Financial doesn't allow direct lease buyouts from dealerships like Carmax.

I didn't think so either but apparently ALGO was okay with it. We had to have a 3-way (call) with Genesis Financial so they could get the dealer buyout without tax but that seemed to be about it. Residual without buying was 25.5 and they gave me 37. Crazy times...

 

[strohw]

I was going to say, I'm surprised Gensis allows 3rd party lease buyouts but I see mentioned that they don't.

 

[Ergoc5]

Do they accept used cars as well? I had my 2016 Golf R sold but the buyer is asking for one more month to get funds in order.

 

[sethsquire]

Do they accept used cars as well? I had my 2016 Golf R sold but the buyer is asking for one more month to get funds in order.

They do! Go on their website and get a quote (Sell Your Car | ALGO) and then they'll text and call and email and bother you to get in touch. It's annoying but temporary, since I got a quote from them some months back and didn't sell at the time since the new car hadn't come in yet