Hello Everyone, I live near Burbank, CA and my 2020 Cadillac XT5 is about to be up in less than 2 months. I’m looking to get into a Lexus NX 350, but need to get out of this car first. This car was originally a loaner with about 5k miles on it and now has 40,500 miles and according to KBB is worth somewhere between $25,179-27,810. However the buyout is $29,306. So the car is underwater.
I’m trying to figure out a way to owe less. I owe $600 to turn it back in, as well as probably 4 new tires. Should I just bite the bullet and pay the probably $1400 and never lease a Cadillac again or try and negotiate the lease buyout price and sell it via third party? I got a quote from Shift for $28900 but the problem is you can no longer sell leased cars from GM Financial to third parties. So dealing with tax and credit unions seems like a tall order.
If anyone has any thoughts or suggestions I would appreciate it thanks!