Selling our V60 to Carmax this week for 38k, netting a 4.5k check. Bought it out at some mediocre rate with no payment for 90 days with Veridian CU. Wagon has 12.5k miles, good scratch on driver side fender (thanks kids).
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That’s a nice payoff for the v60. So you got a positive check after paying taxes for the buyout, right?
Correct, that’s net, after rolling taxes into the financing. And actually, I forgot that we got an $800 check for overpayment from Volvo, so $5300ish net. I’m not trying to enter into the argument about equity, just sitting the mechanics of how we did it. S60 may be tougher due to weaker demand (doubt it’s worse than a lux wagon) or incentives at time of lease.
It would be even smarter to keep it to term, but wife wants a jeep.
At $309/mo, that’s over 17 payments. What a time to be alive!
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I traded in my 2019 VOLVO XC90 T6 Rdesign with 27k mi on it to my local dealer about 60 days ago. I received $6192 in equity. They paid $46,000 for the car with a 39,808 PO. So there is still equity out there, I would imagine the difference today is lower but this is a good example from just 2 months ago.
(PS - dealer listed it for $53,988, dropped to $52,988 and still available)
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You all are liers because Aronchi said there was no equity in Volvo 
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what did you pay for the new volvo though?
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2022 XC60 B5 Mom
$52860 MSRP
$51,000 price 3.6% off
Less $500 loyalty
Might have been able to push for more % off but literally 3 other XC60’s I was looking at all sold while I was making up my mind. I figured I could keep pushing for another 1-2% off and end with something I didn’t want. Or take the deal and move on, plus I was very happy with the lease trade in number after going back and forth on that.
If you have the time, do it early, like now. Payoff the car, the title may take anywhere from 3 weeks to 15 weeks to get to you. In 15 weeks you may see the car price dropping 5K in the resale to Carmax etc. Even new cars are slowly getting discounts, BMW, Mercedes, and Volvo as well. Easy to negotiate 3-5% off MSRP for in stock units.
You do realize that I do 6.5% plus any and all rebates for all forum members right?
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V60 demand is nuts right now (relatively) and two year olds ones go more than new, look them up it’s crazy.
I have one that I leased in April 2021. Miles low, less than 5k. For fun I put it in Caravana a month ago (I know they can’t buy a Volvo lease, I’m not selling it). $51k was the offer. Sticker was $50,200 and my selling price was $42,200.
Dealer told me Volvo is working to get non-CC/non-PE models back orderable in States soon but there are still supply constraints. And waitlists for the V60 T8 are long with no word when they can even be delivered. Also mentioned bringing back V90 as a T8, too.
Keep in mind though I live in Los Angeles where people actually do still buy station wagons.
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Check carvana again. My offer from them tanked $7k.
