Trying to get out of a 2020 XC60 Volvo Lease (that ends 02/2023) in Los Angeles

[mllcb42]

@Mike_Ezginder

The elephant in the room is the sales tax and there are ways to legally avoid it in California but I feel too lazy to explain at the moment.

Third Party Lease Buyout

I recently went through a third-party lease buyout in California. I often see the question on how this is done so I wrote a quick document of my experience: I think the main one I hear is how to avoid paying sales tax twice when selling to a private party. This can be avoided (in CA) by (a) selling you lease within 10 days of acquiring the title from the lessor (b) applying and being approved for a CDTFA-111 from the CDTFA. Note, if you sell to a dealer, the leasing company transfer the ti…

[max_g]

@mllcb42

Obviously isn’t going to be a path to any positive equity, but it’s at least an option for getting out of the lease.

In a consumer-friendly state like CA, the lessor might be obligated to send any positive equity back to the lessee. In today’s market it might bring some.

[Omeletpants]

Where did you come up with that? Just make it up?

[vhooloo]

Are you moving out of the country permanently? I will take over your Volvo lease. I DM’d you.

[mllcb42]

@vhooloo

I will take over your Volvo lease.

Volvo doesn’t do lease transfers.

[max_g]

Lease Return Early termination & Notice of Sale

I just got off the phone with someone at GMFinancial. CA requires that if a lease is turned in more than 30 days early, they have to first sell the car at auction, then apply the amount they sold the car for to the cost of ending the lease. If the amount they get for the car is GREATER than the lease termination, they then credit the extra as part of ending the lease. But if the car sells for less that the RV, I will only be responsible for the Disposition Fee, applicable taxes, and items foun…

[DrHowe]

How much are you paying? Why not post on Swapalease or similar sites?

[mllcb42]

Volvo doesn’t allow lease transfers

[DrHowe]

Oh wow. Even personal ones, not just 3rd party buyouts? That’s rough.

Since you’re in California, you can avoid the tax. So just buy it out and sell it to CarMax, Carvana or whoever the highest bidder is.

[mllcb42]

@DrHowe

Oh wow. Even personal ones, not just 3rd party buyouts? That’s rough

Lots of brands don’t allow lease transfers. It’s probably a shorter list of who does than who doesn’t.

[vhooloo]

@mllcb42

Volvo doesn’t do lease transfers.

Introducing the vhooloo lease transfer program. Works for all brands but lessor must be moving out of country. It is called a diplomatic exception to the lease (for diplomats and military and the like). Proof of relocation needed such as job letter from overseas, passport surrender, visa termination etc etc. I DMed OP. The rest of the gallery make sure popcorn is warm…

[Zenek]

@vhooloo

Proof of relocation needed such as job letter from overseas,

I guess this is not hard to get. Will this really work just showing that letter?

[Phat]

@vhooloo

popcorn is warm

at the ready

[max_g]

Just ignore him.

[vhooloo]

Why, you planning to look for a job in Afghanistan? I can get you out of your lease …

[Zenek]

@vhooloo

I can get you out of your lease …

Would it be just private lease transfer or selling to 3rd party dealer is allowed too?
I am considering moving to Europe in near future and i have EU passport.

[vhooloo]

selling. But if you know you are moving ahead of time, please do not enter a lease that you know you won’t be able to meet.

[videodroner]

After speaking to several people at VCFS, including a manager that was very nice, they are getting me out of my lease for a $1000 fee (which more or less what the price difference is between Carmax and my buyout) so I am very happy.

[Ursus]

Not bad at all considering there is $350 disposition fee anyway at lease end.

[vhooloo]

Please post the gist of the conversation and process so that @max_g understands that getting out of lease due to overseas is real … And he is the one who should be ignored…