Just another case of sign now, ask and post later
What’s wrong in doing that in my case? I wasn’t getting any better deal anywhere else. At least I’m sharing the deal for others.
The way I see it is, at the end of the day, for 3k DAS I got $700/mo w/tax for T8 Inscription. I know it’s not a terrific deal, but it’s not terrible either.
You have to think about it as $6,000 DAS and $700 monthly. The equity from your current Volvo and the new lease should be considered separate transactions.
Still, it’s not a terrible deal considering the current market conditions and you are getting a great car for the money.
Terrible or not, what’s the point in posting after you already signed? If it is a terrible deal you will just get ripped apart, and you already admitted it wasn’t great, so why even bother posting it?
And since the dealer “insisted” on returning your lease and raping you for the equity,I guess it’s a great deal.
He’s sharing his deal in “Share a deal”, good or bad, and is not asking “how did I do?”.
I understand it’s “share a deal” but not much of a point, if you already signed and admit it wasn’t great, what do you expect is gonna happen?
Just drive the car and enjoy, why even bother with internet strangers making you feel bad about it? Makes zero sense.
Assuming this might be a good thing in NY. Would you get the “trade in” tax credit to help offset the taxes on the new car? Am I thinking of that correctly? Or are you still on the hook for the remaining taxes of the old car regardless?
Not sure about NY, but at least here in CA, dealers will not have to pay sales tax to acquire on lease vehicle from VCFS (I believe that’s true elsewhere but don’t quote me on that). So, at least I’m not on the hook for the tax. I still pay whatever taxes on the new car though.
This is very good practice for everyone, even if OP asks How did I do?
Once it’s signed and burning gas, and the deal is shared, all that’s left is to enjoy it (it’s an XC90 T8 Inscription, how could one not?)
Forum title isn’t Share a Good Deal. I appreciate all signed deals here. OP doesn’t seem to be looking for approval or a pat on the back.
So in reality this was 9k upfront and $700 a month for a 73k volvo?
I leased my XC90 in 2019 and wow this market is just insanity!!!
(I know not effectively 9k upfron with 6k equity and 3k cash since the 6k equity if sold to a 3rd party would have tax applied)
Not in California if the proper process is followed.
This is how it should be, however, reports are that vcfs charges the personal pay off to 3rd parties, even if it includes tax.
So then it REALLY is 9000 down (6k equity and 3k cash) or $950 month with $0 down?
After reading other threads, it’s kind of ‘mission impossible’ to follow this process with dealers like Carvana/VRoom due to the chicken-and-egg rule of CDTFA-111. If you sell to your friends who trust you to give them the title later then the process is easy, otherwise it’s kind of painful, even though the process to get sale tax refund exists.
I’d still say good deal. Can get no where near that in Illinois.
does this mean, used car prices will normal out in next 1-2 months?
Nobody knows. All it means is for now is that insane resale prices appear to have peaked.