My wife’s 2023 XC60 bright is due back in 2 months. It has a whopping 5k miles on it. I know it’s tough with Volvo, but is there any way of squeezing any bit of equity out of it? Thank you in advance
We’re in NY
How much equity is in it? What’s mmr? Maybe look into buying it out and flipping out privately?
I’m not sure. Is that just based on the buyout vs. the present value? If so, how do I get that value? On the flip, I’d have to cover the cost plus taxes, correct? I’m only asking because of the 5k miles. Apologies for my ignorance. We looked at the 2025 XC60 and I believe they only took 2k off of the MSRP. Dealer claimed they can’t buy it and Volvo would be taking it back.
Dm me vin, mileage and payoff. I’ll gladly look into it.
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They appear to not want it as Volvo Encourages this. You can also do Pull Ahead with Volvo to another volvo and they forgive up to the last 6 months of payments.
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happy to get you a 25. we have 24s left, as well. the car in question more than likely has no equity but happy to take a look at it for you tomorrow. Just need vin and miles - don’t need payoff.
The same thing here. OP, this car is at least $10k underwater. Brutal market unfortunately.
FWIW, a Volvo dealer told me this too when I did an early termination on my lease during COVID. They said they would love it on their lot (they had no used SPA XC60s), but they said that VCFS auctions them for all Volvo dealerships to bid on. I returned my lease in CT and it ended up at a dealership in the Philly area. I’ve noticed that my local Volvo dealership in Houston most of their CPO inventory from CA and NY, so maybe there’s some truth to this.