Midsize luxury cars

Hi All,

After speaking with VW credit last night, I have 3 remaining payments before my lease is done of payments of $487(1,461). I have gone over 32k miles over my mileage. I was thinking about financing the car because after the lease the car will cost: $13,989.20 and if I turned in the car, I will pay 6k and tax and wear and tear and etc… A BMW dealership offered to give me 8k for the car, so I was thinking maybe I should finance the car for one year and hopefully by that time I would have driven enough negative equity out of it that I can sell it for 8k and start off fresh or should I just suck it up and just trade the car in and roll the neg eq to my new lease or new/use finance car?

You should suck it up, finance it and drive it til the wheels fall off.

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I always get a small chuckle when people go so far over their miles.

Next time, just get 2 chevy cruze for 45k miles for only $200/ month. lol

Because that’s exactly what he needs right now an AUdi or a Porsche lol? Particularly when he is 36k over mileage lol

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It’s always easy to chuckle at someone until you’ve been in their shoes.

I would look into if VW will forgive portion of the over mileage if you take the Passat. Who know you may only have to pay 3k-4k out of pocket for taking another VW deal. Just my 2 cents.

Exactly. You will never know how the other person feels until you have walked an extra 36k miles in their shoes lol

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OP asked for luxury car options. He can decide what he wants to do.

Some manufactures, like BMW let you purchase miles before your lease is up and a cheaper rate than they charge at lease end. You might want to check to see if VW does that.

Yea, they do, but it’s too late now to purchase that plan now. A vw dealership agreed to purchase my car and get me into a Passat, but i would rather keep my cc, since i don’t like the Passat. A Cadillac dealership came close in giving me a cts v sport that i want for $725, but i found out last min that they were only going to pay my last 3 months payments rather than buy the car, so i said no. I’m still looking, but if nothing aside happens i will just keep the car.

That’s the only reasonable solution. VW finance RV on your car is right there with trade-in values for normal mileage - BMW dealer’s $8K + $6K mileage penalty = $14K. Your 32K extra miles just killed it.

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If you have $15k of negative equity you’re going to get a terrible deal wherever you go. You own the VW?

There is no magic in leasing - they will roll that into your deal and you’ll pay for it. If you truly need to get rid of this car and are that upside down, I recommend treating the sale and your new lease separately. At least then you have a full understanding of what you’re doing and can focus on the best deal for getting rid of you car and separately work out best new lease option.

Hi guys,

Thanks for all your suggestions! I was able to get a car. I purchased a used car:14 Cadillac xts cpo with 17k miles and 6 yr warranty. Ideally, it wasn’t the car i wanted, but without them not willing to work on a deal for the cts v sport, I wanted, this was the best deal that i would get. The car is roomy and spacious like a suv(for baby stuff). The dealership gave me the car for 26k and rolled my neg eq of 6k into the car. I figure if i drive the car for 1-3 yrs and keep it low miles, I will be able to basically sell it for the same price that i got it for.(cross my fingers) And get back into the lease game… Lol, after finding a forum like this, I have learned so much. Btw: I’m just paying a hundred dollars more compare to my lease with 1500 down and our insurance is down. I think this was a good deal, rgt? Lol

Get a e300 and try to get 20% off. Do a 24/15k lease since you obviously need the miles. Do 10MSDs, and after 19 months, do a pull ahead lease so they make your last 5 payments. That’s the fastest way I can think of to get rid of your neg equity and still drive something nice. Search e300 on the forum to get an idea of how/what/where and why.

Edit: nevermind just saw you already bought a car, congrats.

You just be from the same planet as Zola. This isn’t a highly desirable, rare vehicle. You’d be lucky if it’s worth $10k-$15k in 3 years.

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Seems like an ok deal. How many years is the loan?

I figure if i drive the car for 1-3 yrs and keep it low miles, I will be able to basically sell it for the same price that i got it for.

Only if you can time travel in the hyperspace and sell it back in 2013!!

If that makes you feel good, follow your heart and don’t look at the numbers at the end. Enjoy it and just payoff the car before getting another one. Have fun!!!

[quote=“eok45, post:54, topic:11371, full:true”]
I figure if i drive the car for 1-3 yrs and keep it low miles, I will be able to basically sell it for the same price that i got it for.(cross my fingers) And get back into the lease game.[/quote]

No, just no. That’s not how it works. You will almost never be able to sell a car for what you bought it for years later, especially a undesirable car like a Cadillac. Your car will be worth less than $20k in 1 year.

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