goodcat
Junior Member
Many may be aware of this, though I was not until it happened. My truck (18 Ram Rebel with 28.5k miles) lease was up this upcoming May 5th. The calls from Chrysler had been coming in steady asking “what my intentions where”, keep, return, lease something new. I was getting a few calls a week and it was honestly a little annoying. Since Covid and working from home I’ve found the need for a full-size truck had dropped to almost zero. I was considering a few different replacements when I dropped my truck off. That’s when during one of the multiple calls I inquired about the pay off residual. It was only $27k. The market for my truck in Southern California was $48-$50k (which is crazy). Said market was muuuuuch lower when I leased the truck 3 years ago, hence the low residual. Long story short, I planned to just go out of pocket and buy the truck out, and attempt to sell it myself. I filled out that KBB what’s my car worth online thing. Within 30 minutes I had multiple emails, calls and texts from dealers wanting to buy my truck. Within an hour I had set up a drop off with a local Mercedes Benz dealer of all places, as they had offered $43k for the truck. No payoff needed. They’d handle that. So I drove over. Dropped the truck off, signed a few forms. They now send a check for $27k to Chrysler, when Chrysler gets that in a few days, MB overnights my profit check of $16k to me.
So in one day I went from planning on dropping off my truck and being out of pocket a few grand for a new vehicle to actually making $16 grand. Within the following 48 hours I had 5 more calls from dealers. 1 offering $41k, 3 offering $43k, and 1 offering $44k. Even Carmax chimed in with $42.5k.
Do your research fellas. This little flip beats the hell out of any stimulus check.
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