Learned a new loophole that VW FINANCIAL is doing to make even more of a profit.
Online they showed me a quote of $27,025.14. As a pay-off quote.
Sent my car to Caravana with that quote and got back a dealer pay-off quote through them of $30,703.
That’s a $3700 difference! That’s nuts and should be illegal. Or at least clearly identified at the time of signing.
Basically, they guarantee a profit in their calculations by residual value swings.
Fortunately, I have an extra $30k in my account I’m using to now pay off the car myself to save the $3700.
But if you are on a tight budget, make sure before you upgrade your car to have the dealer call and get a quote as it will be higher.