How long did it take VCFS to send the title. I guess there is a chance if quick enough, dealer would honor payoff if they said they could…?
Dunno. It’s electronic in VA and I financed the car.
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I have no worry at all about dealer buying out at payoff, family work there and have been dealing with same management for 10+ years. It’s getting Volvo to agree to it !
Reach out to Volvo like @Benedetto mentioned in his post above, you’re not obligated to accept what they quote you as the early termination. While doubtful, some people have been able to get out early with minimal or no payment.
That’s the plan tonight. Awaiting wife who’s working of course.
Volvo only prohibits it (unless you get a new volvo) when you are still a lessee and they the lessor. This isn’t a problem if you buy it out first from volvo, and then sell it to the dealer. Of course, the dealer would have to be willing to buy it at your post-tax price (should be included in payoff) AND be ok waiting on title.
Edit: But agree with others, first check directly with volvo what they are willing to do buyout wise. They may let you out early, and less risky than buying yourself & then selling.
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And I was met with a big fat no.
Only way was to requests a termination through them. Wow absolute terrible company to work with. Even my salesperson is mortified with their unwillingness to assist.
Pretty much said I’m SOL. Nothing they can do. Won’t let dealer buy it and will give me a termination quote in 3 days. This was after explaining our situation had changed and would no long be able to afford the car in the upcoming months as one of us will be out of work for 6-10 months.
Sorry to hear this.
Perhaps your only card left to play is this as you stated before (assuming they are high enough up the ladder)? Or is that in “corporate” for the dealer vs. Volvo?
I would call back and ask for a manager - the first tier of support for most brands will only read from a script and do little to problem solve
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I’m confused. Isn’t this the quote you want to see? They will send your termination quote outlining their assessed value versus payoff, and any delta.
corporate at the dealer level. Large dealer in the new england, chicago, and florida area.
Will do. Their hours suck, no online chat either. Only a secure messaging portal where the early termination quote will be coming to.
I wanted them to just give permission for my dealer to purchase it. That was the ideal situation.
That is never going to happen - your only option is early term or purchase it outright.
It might sounds illogical but If you know the dealer to that level do the trade for the cheapest Volvo they have in stock and sell it back to the dealer. I do not think the cost of it will be higher then sales tax + negativy equity.
well requested the early term #. We’ll see what it looks like in 3 business days.
Not the best plans, but outs nonetheless. Get the early term amount and kill the lease so no more insurance, payments, etc. and do the following:
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Get a relative to give you a zero interest loan with no payments for a year until whichever one of you is back on your feet with a job.
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Do the same with a zero interest credit card balance transfer. Problem will be that might not work for some cards as it would be a cash advance (not 0% interest) but some will do it. Finding a way to put Volvo lease payments on a card is not easy but it can be done as long as you don’t get killed with fees or a large balance transfer fee:
- If 1 or 2 don’t work, you could use something like Plastiq but the 3% fee sucks and you will have to make monthly payments on the CC balance anyway at the normal interest rate.
Are there any other expenses you can cut for items to live without that are higher in cost than the lease payment plus monthly insurance?
Yes we’ve been changing things dramatically. Things will be much different for a year, then hopefully go back to our normal! Thank you for the ideas!
If you’d like, post the second page of your lease agreement or just PM me.
I can do it in 30 seconds lol
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