Hi Everyone!
So in January of 2015 we did a 3 year/10,000 mile lease on a 2015 GLI SEL. We made a 5,000 down payment and pay $290 a month. The car will have a residual value of 18,860 at the end of the lease. We drive the vehicle much more than planned and will probably be over mileage by 12,000-15,000 miles. That will end up being $3,000 in overages at the end of the lease.
We are wondering if its worth to buy the car at the end of the lease at the residual value which is much higher than what other similar cars will be worth. Does VW Credit negotiate on residuals?
Should we just pay the overages and get in a new car?
is it worth it to lease a new car at the end of the lease and roll the negative equity in the lease?
What would you guys do?