Laughably upside down on an S90. Stick it out I guess?

[Leaseboy]

June 2018, using A-Plan elite pricing in NY State I bought a T5 AWD S90 with convenience package (MSRP $57k) for something like $52k after various discounts, etc.

$0 out of pocket except first payment and 35 more payments at $576 per, with 15k miles/year. At the time it was a decent deal, I have no complaints about that. I think residual is $29k and I have 18 payments left, so $39300 to buy out now–although volvo financial website claims $43k. I think because it includes tax.

ANYHOW, I love the car, but being a shameless, despicable chronic leaser I’m ready for something else.

I went to Carmax three months back and they couldn’t give me more than $29k for it. I called Volvo and they said they could do about $30k. This means that I personally spent at that time just under $10k on the car but it had depreciated over $20k. This is why you should never buy a luxury car (just lease them).

Anyway, it looks like I cannot get out of this until I have no more than 9 months left, and hope Volvo has the 9 month early lease swap. Any other approach? It’s spectacular how much this has dropped in actual value when I look on cars.com, etc. for used ones.

[Ursus]

@Leaseboy

$0 out of pocket except first payment and 35 more payments at $576 per, with 15k miles/year. At the time it was a decent deal

No, it wasn’t. Just keep driving.

[Leaseboy]

It was actually at the time (last June). A-Plan is the lowest any dealer here would go (I contacted a couple). Remember this is also $100/month premium due to driving 15k/year.

[senwia]

With the 9 month pull ahead (if available) just wait it out until you get there.

[Ursus]

Even with $3k a-plan cash you could probably do better without a-plan. $576/mo on a $52K S90 is just plain bad. But it is what it is with the low RV.

[chrishs2000]

You posted literally the exact same question in May 2018.

Any ideas to get a new lease without taking a bath on current?

I’ll try and be brief and throw some numbers at you! New York state 800 credit score 2015 Avalon XLE Hybrid with 3 year 30k lease ($.15/mile overage) terminating Nov/18 48,000 miles currently, on track to hit 57k by lease end = $4k penalty @ turn-in current payoff is $23,000, and best-case trade-in would be $18,000 I got a great price (maybe not by forum standards!) on this car, $0 out of pocket, just 36 X $365 when I leased it in 2015 so I’m not sour to leasing; I am just hiding the total co…

No, there are no recent magic solutions.

[Leaseboy]

Not quite literally, but close. Good memory Better than mine actually!

[chrishs2000]

Very poor memory actually. I always check a user’s past topics to see if it’s worth my time to type out an answer.

[Aston88]

So glad It was worth your time to actually go back and copy and paste someone’s prior post and then make a snarky comment about something being worth your time. Seems kind of redundant. But then again, Lol

[chrishs2000]

So glad it was worth your time to do the same. You seem to do it quite frequently.

[mllcb42]

I’m paying $340 a month on a 24/15 for a $61k s90 leased at the same time.

It, too, has about $15k in negative equity

Just look at this time around as an opportunity to be more aggressive.

[ldl20]

Or, consider sticking to companies that allow lease transfers (GM, BMW, Toyota, etc.). It’s what’s making me rethink another VW lease once my wife’s Jetta is up next month.