Midsize luxury cars

Looking for a good deal on any midsize luxury car that will eat up my 15k neg eq on my 2013 VW CC. I live in Houston,TX, so I am willing to listen to any inputs. So far my VW dealership is willing to buy the car and put me in a Passat R-line, if I put 2k down. The car has 74k miles on it which is far more than the 48k miles given for a 4 yr lease. I was bit naïve when I got the car as I didn’t know a site like this 4 yrs ago lol…

The car has been in two accidents( both rear bumper hits, not my fault) so when I appraised the car at CarMax last night, they told me there is a frame repair done to the car, so they wanted to give me $5k for the car. A BMW dealership wanted to give me 8k for the car and roll my neg eq into a new 2017 530i for $838 a month with $1400 down, I feel like $838 is a bit high(plus my wife said no, lol) and I would like my payments to be in the $500 range or lower as I pay $487 for the CC. I would love to get a CTS V-Sport base, but at this point any midsize luxury car will do, if this is a pipe dream then I am willing to listen to any inputs in getting a good deal and save $ as we are having our 1st kid and building a house, so I would like to get a car that has room for a car-seat, as the CC space is limited in the back.


Pretty close … 20 chars. Better look at a Chevy Trax for now …

What does that mean? Not use to that lingo yet… lol

Just that 15k in negative equity is a payment of $415 a month for 3 years. I think you’re pretty much boned buddy.

You do realise that 15k / 36 months = ~420 / month. I’d say get a cheap chevy or Hyundai for another 100 or 120 for a payment of 550/month and bide your time for now

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Usually it means someone is too lazy to type a sentence at least 20 characters long. Sometimes someone has nothing else to say and needs to satisfy the min 20 characters requirement.

Wouldn’t it be better just to buy the CC at lease end and drive it until it falls apart? In 3 years you’d have it paid and could get a couple thousand for it or a nice tax break if you donate it.

Great point, but I was thinking because of the millage and accidents there is no good value for the car(well for 15k). Would be possible to stretch my budget and get something for 600($100, increase)? But I’m guessing that I’m screwed either way, bc of the 15k, unless a dealer buys the car out right(pipe dream) and give me the CTS V sport base that I want, if not I guess I’m stuck with VW :frowning:

I learned something new today!!!

You will learn something new here every day :slight_smile:

So from the looks of it, should I just suck it up and just pay something like 800 ish at max with zero down for a car I like? Is that even possible or am I just screwed and just smile and drive my CC? lol.

I don’t know where you are getting the 15K negative equity from. Your only 26k (lol) over your miles. Current CC’s lease charge 20cents a mile over. That’s only $5,200 with my math. What am I missing?

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Yes [20 chars…]

Sure, np… The 15k is my payoff quote that VW gave me. So, far the highest I have gotten for the car was $9k at the BMW dealership, so I would have owe 6k that would been the neg eq that I would have been rolled on to the BMW, if I have done that deal… In retrospect should I have done the BMW deal?

@eok45 there are 2 types of negative equity. The first one you are responsible for and second one you are not (which is why you lease)

  1. If you are over the mileage, you are responsible for that. This is technically not “negative equity” but semantics aside, @drtodd is correct in saying that you basically owe the miles x the penalty per mile - so $5,200

  2. The technical “negative equity” is basically the difference of what your original lease contract says AND what the car is worth (aka what Carmax says or the dealer is willing to buy it to you from). You just walk away from this. They may charge you for the extra wear & tear for the frame damage but that would require an inspection to be certain that it is over and beyond the normal wear & tear which they allow for. The car you are returning is NOT brand new, it is 4 years old with an expected 48k miles. You already paid your “punishment” for going over the miles on item #1 above. But you are NOT responsible for this “negative equity” – this is why you lease!

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See my note below. If #2 is huge, you are NOT responsible for this – basically NOT your problem. You return the car, pay the over miles and walk away. This is why you lease. Some math guy made a mistake 4 years ago estimating the RV (residual value) so the leasing company has to eat that.

Might be the sales guy scaring you to lease a car with them. Clear this up first before you do more math on the new car. Your situation is looking much better than when you first posted


Oh,WOW!!! so, what should I do? Is it possible to get a dealership to roll my mileage to a new ride or should I just write a check for the 5k? My lease is due in July with 2 more payments left. We just need a room for the baby, since the CC seats have to be push all the way & I also I want a new ride(since, I love Cars too much) lol…

Just turn the car back in in 2 months and pay the mileage overage charge. Then possibly buy/finance your next car if you will be driving the same amount of miles.

Writing a $5k check is the best way to go if you have the cash. Some dealers may roll this into your new lease but unless the interest is close to 0%, you are paying interest on that $5k. So depends on your situation if you have cash, pay it off. It you have to pull from your rainy day fund, maybe just pay the interest.

First things first, you have time (3 months) so relax a bit.

Second, call your leasing company and see when is the earliest they can schedule an inspection for you to return your car. This may be a month from your return day so June 1 (if your return day is July 1). This may give you a better understand of how much excess wear and tear is going to cost you. You seem to be concerned about some damage. Most people don’t really sweat this if the accidents were fixed properly and “to original condition specs”. They cannot punish you for the accident unless you didn’t fix it properly (like paint the car with a spray can)

Third, ask your leasing company what is the penalty per mile over (it should be in your original contract). Some companies (not sure about VW), you can buy miles cheaper ahead of time so this may get your penalty down. So, when you turn it in and “surprise” them, it will be $0.20/mile. Maybe if you tell them ahead of time, it could be like $0.10 or $0.15/mile.

Once you figure this out, then you will see what your “punishment” is but it will certainly not be what was on your first post.

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I would go ahead and schedule the lease end inspection. Then you will know how much, if any, you will be expected to pay at lease end in addition to the excess mileage.