Hi All,
I leased an S60 this summer through lease broker Mike Aronchi. It was a very good experience. After driving the car for a few months I’ve found that it is just too small for my family. Is there any way to trade out of this lease into a larger Volvo? I’m only 5 months into my 36 month lease. Am I stuck?
Volvo’s can’t be transferred, so you would need have someone buyout the lease.
Lease Buyout:
You can have a third party buyout the car. In order to do that, you would call your leasing company and get the current “dealer payoff quote” which is the amount of money needed right now to payoff your car which will satisfy your lease agreement. Once you have that number you can take your car to your local Carmax and see what they would offer to buy your car. If the amount is near or above your dealer payoff quote, then you can sell it to them and you would be out of the lease. Alternatively, you can get an online quote from vroom.com or carvana.com who will give you an instant online offer. If you accept the offer, they would come and pick up the car from you and pay you on the spot. Ideally you would get a quote from all sources as they may vary significantly. For more information, please see forum discussions:
For additional information, make sure to check out Leasehacking 101: How to End Your Lease Early
Thanks, I submitted requests on both of those sites. Hopefully they offer the buyout amount and I can walk away clean…
I would edit this and take the dealership’s name out.
Also, chances are your car is underwater. I’m 19 months in on my S60 in an impossible to find color combination, and I’m still about $10,000 underwater.
Don’t hold your breath
10k under water? YIKES I guess I’m stuck then…
Same fam: I have never been less than $6,000 upside down in 16 months of XC60, even with covid inflation. But they won’t know for themselves until they get numbers.
My S90 hit $14k negative at one point
Correction: $11,000 under as of today.
It’s actually kind of ridiculous, considering that my selling price after incentives was around $40,000 on a $51,000 car, and I still owe nearly that much, but I guess that also shows you that my payment is low. 
I take it as, “what a great deal on this lease”.
My theory is: when the captive won’t allow transfers, the manufacturer’s trunk money is treated like cash they took out of their own pocket. I’m watching MB closely now to see if that holds up or not.
Also, I’ve actually made 20 payments, not 19, so the Carvana offer is even worse. I’ve paid $8,900 on the car so far!
11 months in at (edit: 400 including inception amount 
) negative!
I got an offer for above payoff excluding msds, so if I wanted to ditch and run it’s not hopeless.
Try autonation and algo, by far the highest Volvo offers. 29500 was the highest offer as of last week from vroom, matched by autonation, and my local Volvo offered 29000 flat.
Totally different ballgame when it’s a loaner vs. new, though.
Mine was a loaner yes. Although it does only have 8k miles…
Makes me long for the good old days of Jan 2018, where I was able to flip my S90 for a tidy profit, when it was a month old. Carmax had to take a bath in that one.
thats insane. my i8 hit 13k negative lol
You guys are all juniors in the negative equity game, I’ve had a number of BMWs that were of very moderate MSRP that were more than 15 K underwater!
That said… For some reason 2019 4 series BMW coupes are fetching a premium on Carvana right now. A lease I picked up for my parents on one with only six months left is +$2500 buyout and the lease had almost no DAS at inception.
Isn’t the payoff including taxes and fees? At least that is what I hear from the automated phone system. If dealer (VROOM, Carvana, etc.) completed buyout wouldn’t tax be avoided?
I leased a new V60 a few months ago (Aug/Sept) and just sold it. I was about to sell to Carvana but ended up selling to the original Volvo dealer. Had to write a check for $1200 but it wasn’t too bad.
