Houston Credit Repair expert, Vanessa Perry explains how to make money from your leased vehicle during the chip shortage.
Do You Lease Your Car?
If you lease your car you are given two options by the dealer to turn in or extend your lease. The dealerships tend to not let you know about selling your lease because that often leads to a loss for them. Be prepared for what you want to do with your lease prior to the turn-in date. At the end of the day, your lease should make you money if your car is in great condition. Often times you may have issues renewing your lease or purchasing a vehicle. Please consider contacting a credit expert.
How To Sell Your Lease?
If you are interested in selling your lease make sure to have the payoff quote and that you are caught up on your payments. By selling your lease you are essentially selling your car or the leasing rights to your vehicle. Some companies such as Mercedes do have restrictions on selling to third parties. This is to retain their cars during the chip shortage. If you do not have any restrictions you can attempt to sell to third-party dealers such as Carvana, Direct Auto, Vroom, etc. If you want the best price shop it out with other independently owned dealerships. In the case that the company has restrictions, offer to sell it back to the dealerships. Continue to negotiate for the best offer.
Houston Credit Repair
Impeccable Credit Services has been in business for over 17 years. Owner, Vanessa Perry has helped many clients achieve their financial goals as well as getting qualified for the lowest rate a vehicle. Leases are primarily for those with scores 650+. If you buy luxury cars you may want to consider a lease to keep maintenance costs low. If you have any questions on purchasing/leasing cars or credit please feel free to contact us at 713-378-1500.