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My lease for my V90 R design was up on 5/5 this year so I started shopping and was disheartened by the market. Reached out to multiple dealers and got some outrageous quotes. Like many of you, I was preparing myself to purchase the vehicle and wait out the market. Volvo makes it very difficult to sell to a third party directly. Buying and selling would have costed me tax and left with little or no profit in the end.
The dealership I leased from previously reached out about a 3 month pull ahead with Volvo. When I balked at the quotes he gave me for an XC60, he reached out to me a few weeks later with a well structured deal.
I basically hit a trifecta;
- Lease return was taken as a trade in and paid out my equity as a down into the next lease ($3161.00)
- The car was a service loaner and was given a mild discount (~9.5%)
- Loyalty Rebate ($2000)
The paperwork showed $5161 as the down payment (taken in form of rebate and lease return) and I paid nothing out of pocket at drive off.
The pre-negotiated deal was sweeter and was 641 + tax. Two things happened.
- I had a small crack in the windshield and they split the cost of a replacement with me, decreasing my trade in
- I bought the wear and tear for 1295. This was a last minute decision, the car is a loaner with 6000 miles on it and I was doing a 36 month lease. Estimated miles at return are 42000 miles. It has 21 inch rims and normally I would buy used tires before lease end, but I assume 21 inch tires would be hard to find.
Hopefully this post helps some of you who were in the same predicament as me with a Volvo lease return, particularly having difficulty selling and getting the equity.
happy to share dealer and salesperson info.
