Rossen Reports: How to make instant cash with your car
Hello, as we reported, the used car market is booming and in the meantime driving up the trade in leased vehicle values. If you are at the end of your lease, it means you have just hit the jackpot. You see, when you first bought your vehicle, the dealership set the price for you to buy it right at the end of the lease based on prices at the time. Well, guess what the odds are that the price of your car has skyrocketed. So here’s how you can cash out right now. The way we like it nice and easy. We ran the numbers, check out this jeep grand Cherokee in 2019, ***new would cost $22,408. You can now sell it for $32,973. That’s $10,565 in pure profit in 2019. *** The Toyota Sienna cost $21,641. It is now trading for over $33,066. That’s a *** profit of $11,425. And the 2019 Chevy Tahoe costs $33,209. You can now sell it for $49,101. *** profit of $15,893, buying your car at the end of its life, then turning around and selling it to *** a third party. Well you see it could mean a lot of money, figuring out what your own car is worth, what you can sell is actually very simple and shows it to you in real time. I’m going to use my current car and it’s a bit dirty. It needs a *** wash but don’t judge, it’s a 2020 Nissan pathfinder ***. You will therefore go to sites that offer you an instant money offer and here are some of them shift Vroom, Carmax and Carve ana. Now, all of these sites are going to ask you some basic questions. The first will be here. This will be the car identification number. First place, come over here. The first place you want to check is just inside the door frame, there’s going to be a *** sticker that looks a lot like this and it has the number, the Vin number is right there. We’re gonna jam it because you know, it’s my Vin number. If you can’t find the sticker here, it’s actually even easier to do so. Come here. It’s wine number two, it’s right here in your windshield and *** little window, which makes it nice and easy. Then they will ask you more questions. I am on the car Vontaze site, type in the current mileage, your zip code and the color of the car. Next, you’ll answer questions about the vehicle’s features and condition. OK. I know what you’re thinking, but my car has scratches on it. Don’t worry, my car is coming. Yeah, I mean, you know, little scratches like that. Yeah, it will happen. It’s not huge according to the company, they will also ask about your interior and you can see my interior. It’s basically good. The last question, what is the general condition of the car by the way, we use Carbonneau. So they’re going to give you those three options right here. That’s right, pretty good. Just ok and a bit harsh. I mean it’s in pretty good shape. I’m going to say pretty awesome. That’s pretty awesome and you hit that. Watch the wheel spin as it creates an offer and check it out. My offer is $31,891. Then I take out my lease contract, I check the purchase price. I can buy it back from Nissan for $22,956. This means I can turn around and sell my car to someone else for a *** profit of $8,935. Another option for checking your car’s value is Kelley’s Blue Book. It works pretty much the same way. You plug in the same type of information, but it also lists dealerships in your area that you can take it to in my case. I did it from my car and after that I didn’t have to go to the dealerships, they came to me. I got about 20 calls, emails, even text messages, interested in buying my car, so this will work for you.
If you have a car rental deal coming up, you could pocket some big bucks. The continued global shortage of microchips and inflation are forcing used car prices to rise. Here’s what happens: When you first leased your vehicle, the dealer determined the price for you to buy it immediately after the end of the lease – based on the prices at the time. . This is what they call “residual value”. Guess what ? Chances are the price of your car has gone up. This means you could potentially buy your car at the end of its lease and resell it to a dealership or third-party site and pocket the profit. Determine the value Determining the value of your vehicle is simple. Websites like Carvana, Carmax, Cargurus, Shift, and Vroom can give you an instant deal by rating its condition. Kelley Blue Book can also make you an offer and then connect dealers who may be interested in purchasing your vehicle. First, locate your VIN number (on the inside door jamb of your vehicle or in the window on the windshield) or have your license plate number ready. These sites will ask you questions such as the number of miles left on the car, special features, condition of the exterior and interior, any engine or tire issues, etc. Then he will present you with the potential offer to purchase the vehicle from you. Some third-party sites will schedule a drop-off date or pick up your car from you. Things to consider Ending your tenancy: It is essential to read the fine print of your tenancy agreement. This is for vehicles that are at the end of the lease term. You would have to buy it from the dealership and then turn around and sell it. Some auto finance companies don’t allow third-party buyouts, where customers sell their leased vehicle to a party other than the dealership they originally leased the car from, while they’re still in the middle of the lease. Especially right now, because dealers are counting on these cars coming back. Some of the finance companies with restrictions like this include: Ford Credit, GM Financial, Honda Finance, Infiniti Financial Services, Kia Motors Finance, Mazda Credit, Nissan Motor Acceptance, etc. Replacement Vehicle: This one might seem obvious, but make sure you know how you’ll get around once you sell your vehicle. If you don’t need it (perhaps your house doesn’t need multiple cars or you rely on public transportation), you won’t have to worry. Or make sure you have purchased/leased a replacement vehicle. Taxes and property rights: This is another thing to consider. You may have to pay sales taxes and property rights when purchasing your leased vehicle. Make sure you have factored in these costs to see if the profit is worth it.
If you have a car rental deal coming up, you could pocket big bucks. The current global shortage of microchips and inflation are forcing used car prices to rise.
Here’s what happens: When you first leased your vehicle, the dealership set the price for you to buy it immediately after the lease ended – based on prices at the time. This is what they call “residual value”.
Guess what? Chances are the price of your car has gone up. This means you could potentially buy your car at the end of its lease and resell it to a dealership or third-party site and pocket the profit.
Determine the value
Determining what your vehicle is worth is simple. Websites like Carvana, Carmax, Cargurus, Shift, and Vroom can give you an instant deal by rating its condition. Kelley Blue Book can also make you an offer and then connect dealers who may be interested in purchasing your vehicle.
First, locate your VIN number (on your vehicle’s inside door jamb or in the windshield window) or have your license plate number handy. These sites will ask you questions such as the number of miles left on the car, special features, condition of the exterior and interior, any engine or tire issues, etc. Then he will present you with the potential offer to purchase the vehicle from you. Some third-party sites will schedule a drop-off date or pick up your car from you.
Things to consider
Terminate your lease: Reading the fine print of your rental agreement is essential. This is for vehicles that are at the end of the lease term. You would have to buy it from the dealership and then turn around and sell it. Some auto finance companies don’t allow third-party buyouts, where customers sell their leased vehicle to a party other than the dealership they originally leased the car from, while they’re still in the middle of the lease. Especially right now, because dealers are counting on these cars coming back. Some of the finance companies with restrictions like this include: Ford Credit, GM Financial, Honda Finance, Infiniti Financial Services, Kia Motors Finance, Mazda Credit, Nissan Motor Acceptance, etc.
Replacement vehicle : This one might seem obvious, but make sure you know how you’ll get around once you sell your vehicle. If you don’t need it (perhaps your house doesn’t need multiple cars or you rely on public transportation), you won’t have to worry. Or make sure you have purchased/leased a replacement vehicle.
Taxes and property rights: This is another thing to consider. You may have to pay sales taxes and property rights when purchasing your leased vehicle. Make sure you have factored in these costs to see if the profit is worth it.
