@max_g
Why was this moved?
Poster asked if he should get another lease
And I dropped a suggestion
Did that violate something ?
Pricing was really good in the summer of 2020, so this was pretty hard to read. Please please please do your due diligence next time before signing anything.
That’s going to depend on your credit and how much effort you put into finding the lowest APR you qualify for.
After that you can plug in all the variables into a calculator like the one on cars dot com or bankrate etc etc.
You’ll owe taxes either way. Up to you whether you want to pay upfront or pay interest on the taxes by rolling them into your loan (assuming the lender allows).
But based on your post one would infer you don’t have a ton of financial flexibility. So financing a BMW and therefore committing to owning it well past warranty expiration may not be the best fit for you.
There are other cars at the $32,500 price point or below that would have a way lower TCO.
All posts in the original thread were moved/merged.
I had the same immediate reaction but couldn’t remember what pricing was back then. And that is why I think recs for poster to get another BMW (or even to lease) is not a great idea…
Don’t think buying out the lease saves you much money on monthly payment. Financing your residual of $33k (assuming you pay taxes out of pocket) would probably be mid-600s for 60mo or mid-500s for 72mo. I personally wouldn’t take out a 72mo loan on a 3 year old car, do you still want to be making payments when it approaches 9 years old?
Question for those of you who had the pleasure of buying out your lease from US Bank recently. I’ve read the lease and called them and haven’t been able to get a clear answer. My lease ends in August. The person on the phone said to call right after the last August lease payment clears and initiate the buyout paperwork. If I wanted to go ahead and buy it out 3 months early, right after the May payment clears, will there be additional fees or costs? Aside from needing to pay the last 3 payments of course. Is it really better to wait until August? Thank you!
Wait for more / higher-quality responses, but I would just call again and ask another agent for a payoff quote (assuming you can’t get one online).
Completely different lessor (and the market has changed) but when I made the decision to buy my BMW it made more sense to do it at that moment rather than pay rent charges for the last three months.
Two Volvo lease-end questions.
Our Volvo V60CC lease is coming to an end in a few months, and it’s definitely looking like buying-out the lease is the optimal way to go. Since this is my first lease, I have two basic questions:
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is the Payoff Amount quoted on the Volvo Financial website, the “real” payoff amount? Obviously, it includes a few additional lease payments currently, because the lease end is still a few months away, but in terms of additional fees, etc., are there any? Or is it really as simple as Volvo makes it seem: fill out the form and send them a check. I am in CA.
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And secondly, is there a way to add an extended warranty or some sort of service agreement when buying out a lease? I’d like to cover myself since the original 3year lease is expiring at lease-end. Any recommendations or Volvo-specific experiences?
edit: in CA
You didn’t mention what state you’re in. In CA
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Yes, payoff includes disposition, everything but sales tax, which you pay when you submit the title to be transferred into your name
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if you buyout directly from vcfs, no. If a dealer handles the buyout, you have an opportunity to CPO (and add that warranty) or add a warranty. There is also a thread here on third party warranties, but remember Volvo factory is 4y/48k miles.
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Thank you. Makes sense. Will look at that thread re: third-party warranty and added California to my post.
Doesn’t matter that the title says BMW
@Ashleigh might also remember which Volvo dealer was selling cheap extended warranties, and if they still are
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Steingold Volvo in RI has good online pricing on. Volvo warranties and Fidelity 3rd party for other brands.
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As the market price for my leased Mazda CX-5 2020 Touring with preferred package is currently higher, would it be a wise decision to buy out my car from the lease and resell it? The lease is ending in 2 months with only 11k miles driven and the car is in excellent condition with a residual value of $17200.
Also, what important factors should I take into consideration and be aware of when buying out a leased car from the dealer? Your advice would be appreciated. Thank you.
Best regards,
Cell
#marketplace:northeast #lease-end-purchase #Mazda CX-5
How much is the actual buyout after taxes, fees, etc?
How much are the purchase offers youve received for it?
Thanks for your message. I am very new to this and that’s the other question I have. I live in NY and not sure about taxes and fees. appreciate your help.
The selling offer is in between 22-23K.
If you want to maximize your proceeds, sell your equity without buying out the car.
There is no need to pay tax and actually buy it, if your lease is with Mazda Financial AFAIK.
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Thank you for your suggestion. How should I do that?
You can ask the dealership to buy it and use the money toward a new lease or financed car, or you can sell it to carvana or carmax, whichever offers more, and they will take care of the lease buy out. I’m not sure if one of the dealers here like DNA Auto would do the same, buy it from you and take care of the lease purchase option. You should check different options among those for the best price but as @max_g said, do not buy it and pay taxes on it to then sell it.
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There are links on the first post of this thread.
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Lease payoff amount is 19,730.XX , + 10.25 sales tax in my state CA , are there any other Mandatory fees I need to pay apart from sales tax
- title transfer 15 $
Vehicle License Fee (VLF) – 0.65% of purchase price/value of vehicle
Dealer I leased with has a number of 22,640.XX out of the door including dealer fees of 500
Questions :
is the dealer fees negotiable ?
Dealer is not ready to give me a break up
Any help would be greatly appreciated
I already paid the registration for the this year
Do I have to pay registration. again ?