MMR - Payoff = Equity?

Ask the Hackrs
1

If I want to trade in my Volvo lease before it qualifies for pull ahead, the dealership can buy it out:

Pay off amount shown in my account: $43k
MMR: 37K with Avg retail price of $44k
Similar cars in Carvana: 48k
They also showed me a Carmax report that said 40k. They said that was the payoff but I think its really a quote from carmax, so not sure.

What can I negotiate as equity? Or will they claim negative equity?
Do dealerships get a better payoff amount than what’s offered to the lessee?

2

There’s nothing to do here except waste your own time, as well as a poor salesperson’s.

1 Like
3

Turn it in and be glad you didn’t purchase.

2 Likes
4

It’s clear. Thank you!

5

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