I currently have a 2021 VW Atlas Cross Sport SE w/tech R-line, lease is coming to term 06/01/24. I pay $430/month. I realize that isn’t how leases are going these days. If I stuck with VW I’d want to get into a full size Atlas and the R-Line only comes in the SEL Premium, leases are about $700/month.
Current VW was a 15K mile year lease, I’m well under mileage, currently at 34K. My buy out is $23,558.50. I will have equity in the vehicle based on mileage, current VW dealer said they’d give me $2,700 towards trade on a new one. I like this vehicle, don’t love it.
I have been shopping around and nothing in the 3 row market jumps out at me (in my price range) and I also know it’ll be impossible to stay in the same monthly payment. Prior to my VW I leased 3 Jeep Grand Cherokee’s. I’d consider a Grand Cherokee L but again know the payments won’t be close to my current.
I did recently drive a 2021 Volvo XC90 and loved it. So I’m leaning towards turning in my VW and purchasing a used 2021 or 2022 XC90.
Here are my questions. Is the equity in my current VW negotiable with the VW dealership? Will VW just cut me a check? I know I can’t trade it into the Volvo dealership. Would it be smarter to buy out my lease and then just trade it in at the Volvo dealership towards the purchase of a used XC90? I am in IL (not Chicago or Cook County), do I pay tax on the buy out price? I have not had Volvo dealership look at my VW for a trade in value. Any thoughts?
I’m looking at the T5 engine, 30k miles or less, easily found in the upper $30k range. I would Possibly entertain the T6 engine but would rather not go the turbo supercharged premium fuel route. And I’d likely either pay cash or put a good chunk down and do a small loan.
Examples of the vehicles I’m looking at? Or the numbers? I’ve not sat down and made any offers yet. Here is an example of the vehicle I’m looking at though.
I have a 2021 VW Atlas Cross Sport SE w/tech, R-Line. Lease is up 06/01/24, I have 2 payments left. Residual is $23,558.50, I called VW Credit today and my OTD buy out is $24,297.07 (that includes taxes, title, registration). I don’t want to keep this vehicle. Looking within a 100 mile radius, vehicles in this trim and similar mileage are listed on the lot for ~$31K. My KBB trade-in range is $24,753-$28,110. Should I purchase vehicle, with cash, and turn around and trade it in towards the vehicle I want? Or check with surrounding VW or Audi dealerships to see what they would buy it out for? Obviously wanting to get the most equity out of it to put towards new vehicle.
I am looking at 2021-2022 Volvo XC90. I had started another thread basically asking similar questions. I was hoping I could work out a dealer buy out at the Volvo dealership because the same ownership group also owns an Audi dealership, however they told me they couldn’t do it. I currently pay $430/month and finding a 3 row SUV lease in that price range is difficult right now. I’ve looked at new Atlas, Jeep GC-L, and Telluride. Atlas and Jeep are near $700. Telluride I’m on the fence about anyway so didn’t do much to further pursue. So I’d likely just pay cash or put down a large chunk and finance a small used vehicle loan on the Volvo.
I don’t like the looks of the new Pilot and really don’t like the Highlander either. I like the 4-Runner but it’s so outdated and I’ve heard a new one is coming out for 2025. I like the Jeep GC-L or I’d consider an Explorer ST. Heard not so great things about reliability of new Jeeps though. Don’t know much about Explorers. I’ve never had any intention on going into the luxury category but I just don’t like much that’s out there and I really don’t want to pay more than about $550 in a lease. No idea if you can even get any larger 3 row SUV in the $550/month range.
