Currently in a VW lease that is due to be returned in mid October. Just made the last payment on it, and now wondering if I should just buy it out at the residual ($15,830). Market value is around 21-22k atm.
I’ve seen people with different brands saying they’ve sold their car back to the dealer, is this something I can do? Or are my options to pay the disposition fee and return it, or simply buy it out?
I’m in FL if that helps. Wife wants to get a new Sonata, but I want to see what the best choice would be in this crazy car market.
Yes, any vw or audi dealer should be able to buy it out.
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Wow ok, I have no idea how any of this works, I apologize. So I can just reach out to a dealer and they’ll buy it from me? Even though it’s due to be returned in October?
Just contact them and ask for a buy out quote.
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Sorry for the confusion, but once I get that buyout quote, is that how much they’d buy it for?
My fiancé & I did this last month and were in South FL. Her VW Passat was a little beaten up & the lease was expiring. To avoid penalty fees we had a VW dealership simply buyout the lease and zero cost to us (Rick VW in Davie, FL). Sign a paper & walk away.
Being in FL, if you try to purchase the car the dealership will most likely try to sell it for you at a mark up with the notorious dealer fees.
I’m in a similar situation - have a 2018 VW Jetta with a lease that ends in December. Do you know if the dealership pays the same payoff price you would have paid for the car, or do they have to get a separate 10 day payoff quote from VW financial?
The reason I ask is because VW gave Carvana a payoff quote that is $10k higher than my payoff quote, so I’m worried they will do the same with a dealership.
Just went through this after selling our VW Atlas. When I called VW financial, they kept saying they give a third party quote to their own dealers.
After I spoke to a few dealers directly, I found out that VW financial was just lying to prevent a buyback. I was able to sell it to an Audi dealer and they had the same payoff quote as I did (non-third party)
Good to know, thanks! How did you go about selling to the dealer? Did you just tell them you were interested in selling your lease and asked what they would offer?
I had a few quotes from third parties over a span of about 1-2 months (Carvana, Vroom, Driveway, etc), and one from the original dealer that had called inquiring about a buyback. I wasn’t ready to sell yet because we needed the SUV during the summer and hadn’t found a replacement yet. I was going to sell to a dealer for a little less than Driveway’s offer (since Driveway had a high payoff quote) but then I remembered a user on this site who works at a local dealer had posted about buybacks many months ago. I messaged him and the car was bought back the following day
Edit: Forgot to mention that he matched the highest third party quote while still having the same lower payoff quote so it maximized my return
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What do you gain by selling your lease vehicle to a dealer at the buyout quote from VWFS. Why not just turn it in at the end of lease or you have months left on the lease and trying to get rid of.
I didn’t sell at the payoff price. But the dealer that bought the car paid VW the same payoff price that I had in my lease contract.
If you do end up selling at the same payoff cost, this would only be beneficial to avoid any wear and tear costs, as well as any remaining payments and disposition fee
So the payoff was the RV mentioned in the Contract. That will save you the disposition fees and wear and tear. Not bad to save that money.
Other option is to buyout yourself pay the Tax and then sell to private online dealers if they offering more then the payoff +tax.
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