Cause if you ask 100 people online vs 1 at the source, you’re liable to get the answer you’re looking for, vs the one that matters
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Good luck my friend, I just sold my 2019 S60 lease to Algo for a few hundred below payoff. Vroom actually came back and offered me $100 over payoff the day I signed my offer with Algo, but I don’t see that happening here.
It’s been almost 3 weeks and I’ve yet to get my MSD check in the mail from VCFS.
They take their time. Took me 4-6 weeks to get mine after just turning my s90 in
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Thanks, I assume they would take their sweet time.
is volvo intentionally inflating their residuals or is the curve not linear?
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Does anyone read anymore?
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You will. Took us over a month. We got a letter saying our account was closed and about a week later the check came.
Yes. It’s a very common go to tactic to subvent the residual value. Some do it more than others.
BMW returned my MSDs literally a week after returning the car.
Yes in my past experience BMW financial worked much faster than Volvo. I’ll post when I finally get it.
Toyota Financial took 8 weeks in August 2020 to close the account and another 2 weeks to return msds. At that point I had begun thinking the payoff from carvana was lost.
After talking to Volvo Financial, they said their new policy is not to provide the payoff amount to third parties or provide any communication/play any role in facilitating the transaction. I’m wondering whether this effectively kills off any possibility of having Carvana, Carmax, Vroom do the buyout if THEY won’t get a response/payoff amount directly from Volvo. It seems like a buyout could still work if they just use your consumer payoff info you get from the Volvo Financial website. At least raises some questions whether this is a significant policy change or Volvo just taking a passive aggressive posture to try to discourage 3rd party buyouts.
UPDATE: Called VROOM. Seems like the hangup is going to be that they want a dealer payoff, and obviously Volvo is not going to give them anything given their new policy. I imagine my dealer/consumer payoff is identical since I paid sales tax through my lease.
I wanted to dump my S90 around 18 months in and I was also about $10k underwater @ carmax. These are nice cars these volvos but people must assume the second you drive off the lot you are keeping the damn car. These ain’t no Tacomas in which you can mosey on in to Carvana 12 months into your lease and get treated like royalty.
The residual on these vehicles is total and complete fantasy land (else they’d lease like hell), so the buyout is always way higher than market value.
I just ran a quote a moment ago. $10k is rookie numbers on these Volvos.
My current payoff on my car (S90 momentum AWD T5) with four months left is $34,500. 40k miles on it now (I have 45k with the lease). I think that actually includes tax for some reason on their website, so it’ a real $32,000. C@rvana is willing this moment to give me $17,286, so I’m upside down $14,700.
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This is about where my S90 spent most of it’s lease life.
It’s also one hell of a car for $17k.
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They must make their money back on reselling XC-line vehicles.
why do these take such a big dump? just the sedan game in general? i’ve really really liked my s60 t8 polestar.
Volvo has always had pretty poor resale value, plus they’re juicing up the residuals.
Last I checked, I was about $11k flipped on a XC90 lease. Definitely can’t sell it anytime soon 