Getting out of Volvo lease

Ask the Hackrs
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1

Hi everyone,
I leased a 2019 XC90 on a 36 month lease in November 2019 (so I’m a little over halfway).

I am being transferred to the UK for work so need a way to end my lease. I’ve seen a few posts about this but just want to clarify - can the car be sold to a 3rd party and once the vehicle is paid off I give the title to the new owner??
Appreciate any help here, thanks!!

2

You can purchase the car yourself and then resell it. A 3rd party individual can’t purchase it direct from Volvo financial.

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3

Thanks!

So either

  1. purchase it outright myself (then sell)
  2. sell it back to a Volvo dealership
  3. Pay the lease termination penalties

Are those my only options?

4

If your work is relo’ing you, just have them add lease/auto loan disposition to your relo package.

Companies do this all the time, so let them figure it out.

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5

I’ve mentioned it to them but so far the UK firm hasn’t agreed to cover that expense (they’re still looking into it though). Just want to know what my options are if I need to take care of it myself.

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6

When you say a 3rd party can’t buy it out, does that mean if my brother wanted to buy the car from me he’d have to send me the money first and then I’d send the payoff to Volvo financial to get the title?

7

You would need to buy it, transfer it to your name, and then sell it to him.

8

will be easiest. Were I you, I might do a KBB Offers to see what local dealers would buy it for. I would NOT mention to dealers why you are trying to get out…

2 Likes
9

Start cold calling Volvo dealers

10

Awesome, thanks for the advice! If there’s anything else I should/shouldn’t mention please let me know.

11

They don’t need to know your motivations, other than for the right price (payoff) that you would sell it, and you don’t want another Volvo.

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12

@aronchi would the not being able to sell lease to Volvo dealer without it being a trade in still apply? I am thinking yes.

13

they wont be able to buy it at dealer payoff.

14

If that’s the case, @lmkzc17 see what Carvana, CarMax, etc. will give you over the customer payoff price.

15

There is no dealer payoff anymore. Dealer payoff = lessee’s payoff - $350 disposition fee

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16

Also no sales tax since customer payoff includes that (or at least that’s what they say on the automated line).

17

Dealer payoff never included sales tax before. Now it does, if customer’s payoff includes it.

18

Can they make it any more difficult to sell a lease with equity? :laughing:

19

They keep finding ways, apparently.

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20

Sorry, just to clarify - the dealer won’t buy it unless I’m trading in for another Volvo?