Volvo won’t allow lease buyout?

Ask the Hackrs
1

New here, so please be kind :slight_smile: We have a 2019 XC90, lease ending in October. Our Volvo dealer contacted us with a trade value ($44k) and payoff amount ($38k) in hopes of us turning it in early. Then salesman called today to say that Volvo is suddenly no longer allowing early lease buyout unless you’re buying/leasing another Volvo. Our Volvo dealership is also a Mercedes dealership, and the MB is what we wanted to buy. Is this true that Volvo suddenly won’t allow our dealership to buy out our lease? Basically, our equity is now useless unless we want another Volvo (we don’t). Thoughts? Suggestions?

2

Volvo only allows a Volvo dealer to buy it if you’re trading it in on a new Volvo.

You can always buy it out yourself and then sell it to whomever you want.

3

If I happen to have $38k sitting around :weary:

4

It’s called a quick loan that you pay off a month later.

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5

that stopped, too lol

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6

They won’t even let you trade it in on a new Volvo? When did that change?

7

recently. @Benedetto when?

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8

They WILL let us trade it in on a Volvo…but ONLY a Volvo, according to our salesman. Our Volvo dealership, where we originally leased the Volvo, is also a MB dealer. We would like to trade it in and buy a preowned MB. Sales guy is telling us that Volvo has put a stop to allowing early lease payoff unless you’re buying/leasing another Volvo.

9

Then you’ll need to buy it first

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10

Volvo just won’t your dealer do it lol
Volvo dealers could buy at lessee’s payoff as of June, so must be recent, if true.

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11

Volvo can buy your car if you are buying/leasing a new or cpo unit.

They cannot independently purchase your car.

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12

They did cut everyone off for a bit - one of my stores had to get permission to buy someone out of a deal for another unit.

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13

I believe that’s what we’ve decided to do. It’s the only way to get our equity out of it. Buy it and then sell it ourselves. What a pain!

14

Also keep in mind the sales tax added in for the purchase- then make sure it is worth it.

15

You also need to consider whether the deal on the next car is worth it.

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