It’s a wash whether you keep it or get a new lease. If it had been driven only 10k miles, i would have said keep it.
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Same situation here.
Lease on my A6 ends in November, someone backed into me in a parking garage and front bumper was repaired via insurance for about ~2k.
My buyout is $27k, and I am under mileage at 30k miles (42K allotted since I extended 6 months)
I enjoy the vehicle and will buy it… what else can I get for 27k?!
My wife wants to buy out her MDX at the end of her lease. She’s had it rear-ended and side-swiped by an eBike with no insurance, both were around $2k in damages. Residual is like $27k. Typically, I would want to get her a new lease because I love getting new leases, but we test drove a lot of vehicles 2 years ago, and I know she’s not going to like anything, and the new MDXs are kind of expensive. She also thinks they’re too masculine. My ulterior motive is to keep the MDX as our road trip vehicle until we start having major issues, and in couple of years, lease an EV for her.
Ditch it or cash out any equity.
Who cares? You’d be bailing out the bank, not the dealer. It’s just a car and one that’s been wrecked, kick it down the road.
This is a no-brainer considering how much money Volvo is throwing at returning lessees via the bonus loyalty rebate or whatever it’s called. 24m might be the best term FYI.
$42-43,000 after taxes for a majorly damaged/repaired XC90 is unthinkable. Absolutely no one here would do that in their right mind.
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My dude, return it and get a new lease. You might even be able to get a lower monthly payment if you’re very lucky. Volvo’s are leasing well right now. Even if you didn’t have the damage I would do that, but especially with the damage it’s a no brainer. The loan alone on $38k is going to be a big step up from your $555.
Some recent examples from the forum:
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MUCH appreciated the advice. Do you have a link so I can read up about the loyalty rebate offer?
Thank you for these, I’ve now begun the process of seeing how close to these deals I can get in california.
Good luck! I’m in the same boat though my heart is set on a recharge so I have a much steeper hill to climb.
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Thanks. I really appreciate the concern, but my wife is still pissed at me because I didn’t ask her before I got my recent lease. Now every time I bring up anything about cars, she gets makes snide remarks. We were watching a barbie commercial, and I just said, “Ohh that looks nice” at the Blazer EV, and she immediate responds, “Didn’t you just get a new car?”
Her lease is up in April, so hopefully she’s cooled down by then, and I can talk her into a new lease. It’s a 2020 model, and when I took it the dealer the last time for service, they wanted to replace the brake fluid. I told them no, that we’ve only had the vehicle for two years. The service advisor was really pushy, and reminded me why I lease, so I don’t have to deal with service advisors trying to sell me a bunch of services.
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This is why my wife and I have our joint money and our separate money. Joint money we decide together. Separate money is our own to do with as we please.
Good luck on the marital front. If you get to the point where she’s open to leases again and want to talk her into an EV, consider swapping into an Ioniq. Seems like there have been some good scores on that front (or the iX if you can convince her).
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You should be able to get into a new MDX for close to your previous payment. Having owned both now, the new one is a significant upgrade on the interior (better infotainment - though scroll pad sucks, pano roof, mid row pull out center seat, etc.) but it is slower. I have had some issues with it not kicking down as quickly as my old one and its a bummer. Handling is about the same in sport but it does feel marginally more floaty when not in sport.
All that being said, I am very happy with the upgrade as it feels like a more luxurious vehicle overall.
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thats on the C6 3.2liter motor. mine is a 2020
No point getting in the weeds of maintenance concerns until you’ve done the basic job of valuing your VIN.
Talking to 3 different dealers in northern California and they’re all trying to push $800+ a month for new xc90s. It’s annoying but I’m going to keep digging into more dealers.
Talking to even 100 dealers won’t get you anywhere unless you know what your target is.
Confused by this statement. I have target pricing $550 a month ±50 with 6k down total. I’m giving them all these numbers and they’re holding strong on their $800+ month offers.