EDIT: Re. the contract does anybody know where in the contract it excludes third party buy-out? I cannot readily find reference to that in mine.
I know Volvo messed around with lease contracts in 2018 time frame which makes it hard (or more than hard) for third parties to buy out a lease unless a leasee first buys the car out to own it in full, then trades-it.
In my state (NY) that triggers a significant tax event on the car purchase. If I bring it to a volvo dealership do they circumvent that? Thinking maybe with the continued shortage I might get a half decent offer.
I just want our S60 2021 T8 gone because a) wife isnât working now so donât need the car, b) As of 30 minutes ago I am now out a total of $1500 in two events this year hitting pot holes because the tires are three microns thick and either the wheel dents or the tires blow if you look at them c) the electric motor already had to be replaced earlier this year (cost Volvo $5k or so) d) the check engine light is now on and off regularly (autozone said it was a misfire, but who knows) e) when reversing there is often a nasty clunk as the car doesnât go into reverse at all as if the electric motor wants to die again (lol)
@KEVIN88GT It coded as a misfire. But as I said âwho knowsâ. Iâm glad you find it entertaining. This damn car is causing me far more headaches than my 100k+ toyota. @mllcb42 Lots of people here have talked about a contract change from volvo.
Guys. Chill about the autozone. Itâs not a big deal. I was driving past an autozone. My volvo dealership has like a two week wait for service. Calm down about the autozone already Nobody is âdiagnosingâ anything. I had them check the code. It took about 4 minutes.
90 min is next closest.
Most importantly, though, does anybody know if selling to a volvo dealer does give any taxable advantage to buying it myself and then selling it?
You need to see how much equity (if any) you have and compare to your buyout (with tax). Volvo dealer can only buy at your buyout if you get another Volvo.
Not a contract change, a policy change on who they will agree to sell their vehicle to.
There has never been a contractual obligation for them to allow you to sell to any 3rd party. They have, in the past, mutually agreed to do so, when it was in their interest to do so. It has always been at their discretion.
Since when do lease or rental contracts have to itemize every single scenario someone can think of? Did you think there might be equity in the midst of a Volvo lease?
The brutal truth is that, as a lessee, all your rights are codified in the lease contract (and maybe a few more consumer protection state-specific laws depending on where you live). Beyond that you have no rights to the vehicle. Zero. Nada.
The lessor could light it on fire after you ground it and you can do diddly squat.
At this point I really wouldnât be surprised if they decided that your purchase option can only be executed at the end of the lease.
It really depends on the dealer. Some Volvo dealers move volume and can pay to have a large service staff. Others have 2 mechanics as their entire service staff. Some take a month to get service in and others I can have an appointment booked for the next morning. Definitely see if you can use an online scheduling tool.
Have you contacted Volvo customer care about the issues? They might be able to help you get an advanced timeline to the dealer to solve the issues with the S60.
Also, switching vehicles will not have an affect on pothole damage. A wheel-and-tire package might be extremely useful.
The only way to avoid tax is if you purchased another Volvo at the same time from a Volvo dealer, otherwise, youâre on the hook for tax at buyout. First thing you need to do is check to see if you have any equity to begin with.
I donât have my Volvo contract with me right now but I looked for this language for a previous thread and there is something to the affect of âlessee cannot assign any rights to a third party.â Look for the language on assignment of rights - I guarantee assignment is prohibited. Your rights = buy out at price agreed it in Contract.
It definitely isnât written in clear language but itâs in there.
Nobody is âdiagnosingâ anything. I had them check the code. It took about 4 minutes.