I’ve seen conflicting info about this and just wanted to confirm. I have a current XC90 lease maturing in May. Based on the Edmunds TMV price, I would have $6-7k of equity. I approached a Volvo dealer asking if they would buyout the lease and he said Volvo will not let you do that without getting into another lease or buying a car. Is this true?
The fact is, I do want to get into another lease, it’s just that the numbers I am getting for another XC90 is just crazy for what it is. One dealer even neglected to put in the CCFR in the offer, lol. Another refuses to take off $3k in addons, I assume that’s their ‘market adjustment’.
So now I’m just trying to see if I am able to just take the equity and buy into another brand. I realize that I can pay the payoff with my money and sell to Carmax or something but that just seems risky.
Don’t forget that if you sell it to Carmax (or any other dealer) in 10 days from new title mailing date you can get your tax money back…takes 3 months though.
I sold my xc90 to the dealer I bought it from. I had another 8-9m left on my lease. I called them and talked to one of their inventory managers. They gave a quote to buy it from me and they paid off volvo financials and I ended up with about $1900. It’s doable but work with the dealer u bought the car from. I talked to a separate volvo dealer to see if I could get a higher price and they told me they couldn’t do it. But it’s definitely doable.
Not true any longer. My sister has to go into another Volvo lease in order to take advantage of the equity on her current one. The dealer showed her the flier from Volvo and they will be charged a ton of money if they buy it out without another Volvo transaction
