Anyone have any luck doing this with VW credit. I’m interested in buying my passat at ~9K (market value) not the 11500 payoff amount. I would think these lenders wound be incentivized to take what these cars will sell for and not have to take the car in, recondition etc. What say you hackrs?
You can always try, I’m very leery of having these cars(euro) out of warranty. I just came out of a cheap Jetta lease and into a cheap 320i lease, I’d rather keep making cheap payments then have light or two come in the dash and have a $1k or $2k repair. All of a sudden that under $10k car is $15k after a couple of years of use/repairs, plus it’s a five year old car.
2 Likes
Sorry I was not fully clear with my intent. I have a turn in fee and fees for two front tires. Would be interested in carvana etc buying the car. Pocketing a few hundred bucks on the front end an avoiding ~$600 in turn in fees. Agreed I would not “own” any German cars outside of warranty based on my past experiences…
1 Like
I highly doubt they’d negotiate. You did sign a contract with an agreed upon residual value. None of the captives negotiate in general
1 Like
So you want to negotiate and have Carvana/Vroom buy it out? I don’t see that happening. VW/Audi already has a policy where a 3rd party’s buyout is more than the original leasee.
Tires are cheap, utires.com or bestusedtires.com. Doubt there’s any equity but you can check. You can get no name tires from Wal-Mart too, as long as they have the right speed rating. VW is pretty easy on inspections so unless your car is trashed I wouldn’t expect any chargers
You can try, but I don’t see why the captive would negotiate on a contract you already signed and agreed to.
Just see what carvana is willing to offer you for it.
1 Like
I tried negotiating with VW on a end-of-lease Jetta last year, they made it a policy not to. However, my dealership did make it aCPO for me in exchange for buying at my contractual residual (we kept it because we’d gone 1000s of miles over).
Get all of that. I would just think that its in the banks interest for the lessor to buy the car at fair market value VICE taking the car back, maybe reconditioning, and shipping/driving to an auction or whatever. VW knows these cars are worth less than their residual. I just would think they would not want the headache…
I’ve personally never heard of a bank negotiating on a buyout (US Bank, JPM Chase, and GM Financial are the banks I have experience with.)
2 Likes
US Bank on the Volt is only one where it was an exception, yet people always think that the lessor will do it despite a signed contract. I don’t get it