I am shopping for a lease deal - and have a very general question. Is there any rule of thumb - trade-in my car, or sell it on my own? Specifically, I have a '22 Volvo XC60 Polestar edition, plug-in hybrid with 58K miles. The KBB value is roughly the same as my loan balance (KBB $37k - $42k, loan balance $37k). I’m looking to lease a Ford F150 Lightning Lariat.
So - is there a general rule? My gut is that the dealers will almost always get the better on a trade in. My car has a very minor fender bender - literally - someone backed up into it, the rear quarter and bumper had to be replaced. The body-work is adequate.
No matter what, I will ask the dealer what they’d take for my car - but - my gut says lease the Ford, then take my time to sell the car and hopefully make a few $k.
On your own meaning private party? My personal rule of thumb FWIW: private party is great for cars with title in hand, and fair value is in the mid $20s or below (higher than that most people just don’t have the cash).
Obvious exceptions are cars with some sort of speciality or X factor to it, the kind you’d find on BaT or C&B.
