Selling a Volvo lease (I know, guys)

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Hi all, I know this is a somewhat common question here, but I am looking for a little guidance and hope someone might be able to help!

My husband and I both leased 2020 Volvos this past summer (mine- XC90, his- XC60) and we absolutely love them. However, we are moving to Norway in a few months and obviously cannot take the vehicles with us, so we need to leave our leases with 2 years remaining on each agreement. Yikes, I know, but there is nothing we can do. I looked into Carmax potentially buying out the leases and received offers for quite a bit more than our payoff amounts, possibly due to low used car inventory…but I know there are some issues here with VCFS. Here are my questions:

  1. I have noted from this forum that VCFS isn’t allowing 3rd party payoffs. However, please note the language on my payoff form…am I misunderstanding what this means, or does this kind of keep the door open? “If a third party has agreed to pay off your account, there is a risk that their payment will be dishonored, in which case you would still remain responsible for your obligations to us and your account would be reopened. Unless such payment is made by cashier’s check, money order or certified check, you should request proof from the third party that their payment has been honored by their financial institution, before delivering your vehicle and/or the title to the third party.” I mean, why would they discuss this as something to be aware of if third party sales aren’t permitted? Am I just reaching?

  2. If I chose to pay off the cars first and then sell them immediately to Carmax, how does that work? I recognize that I may be responsible for sales tax…is there any creative way around this? I live in PA, where sales tax is levied against the lease payment, but I am assuming it would also be collected against the payoff amount as well. Anyone have experience with this?

  3. When I spoke with Carmax and told them I had a Volvo lease, they didn’t seem fazed about dealing with this. So potentially they have a way around the issue, or are we both about to be surprised?

Thank you for any help or guidance you can offer!

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I would reach out to a handful of Volvo dealers and see what they will pay. I would also share the CM offers.

I had a client here who had 2 Volvos to unload last week. My Volvo dealer matched the Vroom offers because they are selling CPOs for lots of $$

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Send me a PM. My dealer will take the cars off your hands.

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