Ok I wouldn’t trust dealers to tell me anything about the trade-in market but you do you homie.
The latest Consumer Price Index data from end of August 2020 shows a 40% jump in used car pricing. It was the largest single period jump in over 50 years. This data was published last Friday. Again, your premise is wrong and is refuted by reputable data sources.
I’m sure the US Bureau of Labor Statistics is wrong and your dealers are right.
Can confirm MMR is still through the roof. this isn’t slowing down.
He’s embarrassing us Devils fans, especially with a Rags fan in the room.
You gotta calm down man. Youre taking this way too seriously. How about this - youre right and Im wrong. Thats it. Hope you can sleep better tonight
yes, the devils are poised to be so competitive over the next few years that that might be all you have to fall back on. talk about winning the draft lottery 3x with 1 bust and a soon-to-be bust to show for it.
I’m used to it! It’s always a good day when I can help a person learn to navigate information. They will make better life decisions in the future. And for that, I will sleep better tonight.
I don’t see really any hard data to justify any conclusion in this thread. My gut instinct was prices are trending down, so I pulled the Manheim records for Bordentown, NJ over the past 4 weeks:
8-26
3002 total auction
$44,287,612 total sales
$14,752.70 average sale
9-2
2870 total auctions
$45,648,270 total sales
$15,905.32 average sale
9-6
2532 total auctions
$37,629,835 total sales
$14,861.70 average sale
9-26
3002 total auctions
$47,334,430 total sales
$15,767.63 average sale
Maybe a little dip at the first week of the month, but doesn’t appear to really be much of a letdown here.
It’s really the specialty cars that benefit from something like these, anybody who leased a hellcat or scat pack in the past 3 years is making hand over fist if they want out.
I’m sure there are other examples like the jeep gladiator, but basically my true cost to lease a hellcat over 3 years was $472/mo if you include the 8k in positive equity I pulled out.
$500/mo for a hellcat is literally the best bang for buck, high end car for what most people pay for base bmws is unheard of.
I’m sure if some of those who had true $500 deals were able to cash out they would have ended up with a true cost probably closer to $300/mo… again insane.
This is all isolated though, like I said this helps some not all leases, very weird to be able to get some cash back after a lease is up, usually this doesn’t happen.
my i8 is $13k underwater…
i suspect most bmws are still underwater lol.
I’ve never bought a lease out (always turned them in). Can anyone weight in on how this works in WA state, with a 11% sales tax?
My VW Tiguan lease seems to have a little positive equity, but paying 11% tax would wipe that out fairly quickly.
Dealers don’t pay sales tax, the person that buys the car used would; you need to find out your dealer buyout, not yours (usually includes sales tax), compare that to your car’s value, and if you have a lease that Vroom, Carvana, Algo, etc will buy, then you can sell it to them and pocket the positive or negative difference.
Sell Date: September 2020
2020 Toyota Tundra TRD Sport, MSRP $48k
Lease summary: $285/$620 DAS, 24/12k/yr
Payments remaining: 17
Payoff: Dealer Payoff ~$42k
Carvana offer: $44k
Positive Equity: $2k
Carvana won’t buy from US Bank, put it on Swap A Lease for $2750 down. The buyers credit app was approved today.
Replaced with : 2020 Chevy Bolt, MSRP $39,790
Lease Summary: $42/$42, 36/10k/yr (One Pay of $1512.xx after state incentives)
Anyway, the positive equity on my Tundra paid for the next 3 years of a lease for a cheap daily, so I can save up money to buy another house and hopefully some of my dream cars (E34 M5, C8 Corvette, new Bronco, 997 911 Turbo, etc.)
I sold a 2016 owned TLX. In the process of getting a GLB with lease companion (second car for the family this month with him). I watched the TLX appreciate about 4K from its low 90 days prior, and was so happy to watch Carvana take it away. Nashville is a really tight market, so that helped a lot. Most dealers were more interested in the trade than selling me a car. That was a first. Planning to do it the same thing to our SH-MDX (With towing package) next as it has a few thousand in equity too. It’s 25 months into the lease (498 with 0 DAS 36/12). I have lots of dream cars, just nobody will sell them!
Such as???
Ready for this???
2020 jaguar I pace. EMPLOYEE DEAL ( only lasted a few days from manufacture before they cut the program )
$80,500 MSRP
$29,500 off MSRP
$3000 down $378 a month tax included.
36/7.5K
4 months into the lease. Payoff is $43,087. replacing with Alfa Romeo Stelvio TI sport lease ( great deal ) they matched VROOM offer of $54,500
Check back for $11,413 positive equity
I actually had almost $600 in equity from Carvana for a 2019 330i.
My Audi S4 had a $34k offer earlier in the year
My Vroom offer a few weeks ago was at $38k which was my payoff.
With a few payments left on the lease I thought why not. Not driving the car and avoid the disposition fee.
Turned out Audi’s payoff to third party dealers is not the same payoff to you or an Audi dealer. They came back with a payoff of $42k to Vroom.
Could have paid off the car and sold it to Vroom but the turn around time would be weeks.
Anyone experience this?
This is apparently the policy for all captives under VW AG. Also Ally and some non-captives too.
They’re basically taking advantage of the fact that the lease agreement offers the lessee and only the lessee the option to buy the car at the predetermined price (RV at lease end).
Same here, was about to sell a Q3 to Carvana … their payout turned out to be $1200 more. That applied to Carvana and Vroom, ALgo was $2k more!
For reference, 2 Alfa “physical” dealers received the same payoff as an Audi dealer, so no markup.