Wanted your help to understand whether my 2021 XC60 T5 currently with 24k miles lease due in Feb/24 VIN YV4102RK5M1764699 with residual of $27,370.20, monthly payment of $554 and buyout/lease turn in fee of $350 can give me some equity in leasing or purchasing a new Volvo. Have a Costco membership and Morgan Stanley discount to stack on top of it too.
Given firms that do 3rd party buyouts such as CarMax and other don’t buy Volvo, I don’t have much of a benchmark.
Ideally I would understand this and work with some of the brokers to get a deal.
If you don’t have any equity, (most volvos don’t), you can do a Pull ahead right now where volvo will take your car in and forgive the last few payments (max of 6) if you lease another Volvo.
Carvana $31,400 CarMax $28,400. In both cases I simulated selling it (didn’t mark as leased vehicle), which means if I pay sales tax and sell the vehicle I would have about $1 to $1.5k equity.
Should I try banking on that with a broker?
Also, if I get another lease, will my turn in lease be due of $350 get waived?
Right, thanks for the note. I think they will hardly give me more than that.
I thought about just waiting until Feb, but we never know the deals ans programs such as Costco, that will be available by then… For now it seems there are good deals out there for XC60 and XC90
