Thats with every lease. Atleast here in FL. I traded it in my 2014 accord after 14 months in 2015 to get in to a TLX. Acura dealer matched carmax offer. The pay off on statement included tax as if your buying it straight out. Dealerpay off iant given by bank over phone to client. Dealer has to call in.
How’s carmax pricing compared to Kelly Blue Book?
I really want a Volvo but can’t swap my Equinox lease by now (Less than 12 months).
Do you mean to purchase a Volvo or to sell a Volvo to Carmax?
I have a question if anyone has sold a car to Carmax which had all the payments made using one pay.
I see that MSD go refunded by Volvo but how would the one pay payment be treated by a BMW?
My cap cost was around 30K on a 50K car and the blackbook is showing 38K as current value.
I am not planning to do it as I cannot replace my current payment of $55/mth but the more you know the better decisions you make
HN.
I would assume your payoff is residual so you get difference up to residual.
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I never really understood the fine detail but for some reason (and i think it has to do with taxes) the carmax dealer payoff is always different than your own payoff you get through the automated line when you call your leasing company.
Can’t most people just get a great estimate of payoff by using an amortization spreadsheet? Then compare that with car companies or carmax?
I understand that my payoff for the duration of the lease is the same amount so I get the difference between residual and the sales price but what about the payments I made in advance for the duration of the lease.
I see MSD being refunded, would the one pay payment be refunded on pro-rated basis for the months which are unused is my question.
I wouldn’t think you would get the one pay back if the residual is the buyout. If you get prorated unused portion back, the payout would be higher.
I know its little complicated and maybe no one did it here so there is confusion.
However the residual has nothing to do with one payment. It would have been the same whether I did monthly payments or did one pay. One pay just brought down the MF from 0.00202 to 0.00172 as I waived paying the bank fee and took higher MF instead.
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Can you login to BMWFS and see what your buyout price is now? That’s the only real number that matters.
LOL at putting most people and spreadsheet in the same sentence…let alone amortization.
We are lease hackers here not mere mortals
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To his point, since he one-paid, he already paid depreciation and interest. Would he be entitled to a refund of a pro-rated part of the already paid interest?
That’s debatable…
I don’t know. I’m guessing it’s already calculated in the buyout price.
Thinking about this more, if you do a one-pay, would the buyout price actually be LOWER than the RV? Every month, the buyout price would actually rise and match the RV by the end of the lease?
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MSD you get back once account is closed as confirmed here previously. For one pay, i do not believe you get prorated back. You simply get a check from dealer you sell for sales price minus payoff amount. Since yours should be the residual i assume given the one pay its the difference between sales price versus residual. Thats my opinion. I would sell it and get a equinox or terrain. Thats my advice.
He’s got an i3, more than likely to save on the gas, for 55/month. I can’t see him dumping that for a base model Terrain for 120/month + gas.
With that said, if he can get 8k out of selling this thing, he’d still come out ahead, even with buying gas.
With all due respect for Big 3, I don’t even rent a car from one of those 3 brands If I can avoid.
I only buy/lease Japanese cars and this is my first foray into European vehicle which was strictly based on the price but I don’t see myself in an american made car.
What’s your reasoning, if you don’t own it? The Japanese models have the “last forever” stigma, but if you’re not buying it outright, it doesn’t matter.
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