So here’s the story. I know a guy who leased subject vehicle about 4 months ago, put around 3k miles on it, and decided he wants out. His payoff is 41k before tax, and all the offers from Carvana, Autonation, etc are right around 41k so he loses money after tax if he buys to sell. VW dealer will be happy to take it from him, but with net 0 profit.
He looked at SAL but VW maintains liability with original lessee, so thats out.
With that being said, I reached out to my VW dealership contact (who I’ve known for over 10 years and have done several deals with fwiw) to see if he could/would facilitate me buying out the car at the same payoff.
Ofc I expect to get tagged with some fees so they make something out of it. Here’s the numbers he worked up:
Payoff: 41k
Dealer Fee: 959 (includes CPO’ing the vehicle)
Doc/Filing: 299
Tax: 6% + 50$ In South Florida
OTD: just under 45k
Nice bonus is the car will have just under 6 years of factory bumper to bumper warranty.
This market sucks, but I think this deal is decent given the circumstances. Looking for feedback from LH. Am I blinded by desperation, or is this worth pursuing?
Right - I’m leaning towards pulling the trigger, and I appreciate this dealer facilitating the option for me. Its that there’s really no equity in the car as the lease is too new and/or perhaps it wasn’t a good lease to begin with. After tax and fees I’m technically in the negative, but then again it is almost a new car (I’ve seen loaners and demos with more miles) and in today’s market, a much better price than I could lease or a buy a new/used one for.
When the market normalizes though, I could be taking a big hit. These used to sell for pretty significant discounts smh. Maybe this is the new normal?
Msrp on the 2022 would be 46,890. Around here they’re getting marked up at least 2-3k over msrp.
Btw - Edited subject to indicate its a Cross Sport.
The Telluride can be had for msrp? I haven’t looked at them because this vehicle is primarily for my wife, and she prefers the look of the Cross Sport. But if we can find one for msrp I’ll convince her to take a test drive.
Feedback much appreciated thanks. Wife googled the Telluride and said she doesn’t like it smh. At msrp and with their demand it does sound like the smarter investment. That plus reliability in the Atlas does worry me. Will take some more convincing than I thought to get her to test drive one, but I’m not giving up yet.
Alternatively there’s the Acura MDX, Chevy Traverse or Buick Enclave for 3-row, Lexus RX350, Acura RDX, or Honda CRV for 2-row. Those are my favorites at least that have somewhat decent inventory down here in South Florida.
