Amid inventory issues, policies favor franchise dealers
Many auto manufacturer captive financial lenders restrict off-lease buyouts by third parties due to chip and inventory shortages, although a small number continue to give flexibility to consumers and dealers.
“We are disappointed with policies that restrict a customer’s ability to engage in the process of buying and selling the cars they want,” CarMax wrote in an email to Automotive News this month.
The national used-vehicle retailer said it keeps a current account of these rules on its website and in its stores, and recommended that customers check with their lessor before exchanging a rented model.
The company said it cannot purchase a leased vehicle through: Nissan Motor Acceptance, Infiniti Financial Services, American Honda Finance, Southeast Toyota Finance, GM Financial, Ford Credit, Mazda Financial Services, Volvo Car Financial Services US, Lincoln Automotive Financial Services, Acura Financial Services, Hyundai Motor Finance, Kia Motors Finance, and Mercedes-Benz Financial Services.
Mazda, however, said its captive finance arm allows lease buyouts by third parties, “under the terms of their lease, without any other restrictions.”
And Mercedes said customers could organize a buyout by a third-party retailer.
“In terms of exercising the lease purchase option, Mercedes-Benz Financial Services does not provide quotes to non-franchised dealers,” Daimler Mobility spokesperson Melinda Mernovage wrote in an email. . “However, a customer can request a purchase option quote at any time, and we will accept payment on a rental purchase from any verified payment source.”