Even though he paid taxes, it’s nice he didn’t have to put up the cash to buy it and then sell it. Is this normal with Volvo?
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No, this isn’t normal for anyone. May have been a courtesy as part of the recent change in policy.
That Carmax process could be great in California if they could beat the 10 day period which triggers sales tax.
Just to let you know, the authorized Volvo dealership offered $2000 less than CarMax so basically the authorized Volvo retailer took off the taxes and the amount I received for positive equity is the same.
I understand your viewpoint. You probably did the best you could in the situation you were in. If those specifics were not the limiting factors, you would have walked away with more $.
A lot had to do with timing… I could have paid off the Volvo lease but with COVID-19, everything seems slow and getting the title may have taken weeks if not months… the order for my new BMW lease came sooner (6 weeks instead of 12 weeks) so I needed to make a decision… I still walked away with almost $5K so thank you Volvo and CarMax. I was not expecting anything, I thought I would owe money on my early termination leased 2019 Volvo.
These are very strange times indeed, I don’t recall another time at all where these subvented leases were showing so much positive equity.
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Not sure it really was a great deal on the Volvo lease since MF for excellent credit seemed high back in 2018… the demand on used cars is also playing a part… BMW seems to have the best lease deals as far as MF and RV… just seems like BMW MF is consistently lower for “luxury” vehicles so BMW can get more of their vehicles out there… the 2021 BMW X2 M35 is much more enjoyable than the 2019 Volvo XC40 T5 R-design in many ways.
Used to be the case. Bmw leases have been rough lately.
04/20/21 - UPDATE - logged onto my Volvo VCFS account. The 2019 Volvo XC40 is no longer listed as “My vehicle.” It was there yesterday so I am assuming that they took the payment that CarMax sent them as payoff. Entering my account number to add my vehicle returned response that account could not be found. After calling the Volvo Customer Service number, automated system indicates that the account has been paid off 04/19/21… Woohoo!!! 
Just an FYI, CarMax sent their payment to the retail Volvo address:
PO Box 8500
Philadelphia PA 19178
The Lease payoff document indicates a different address. Volvo Customer Service indicated they would not get the payment unless the “locker box” was included… which I have no idea what it is, but seems the lease has been paid off.
Just received a courtesy call from Volvo Car Financial Services, an actual human, to confirm that my account is closed… yes, it is!
05/10/21 - UPDATE - just received a Payoff Overage check from VCFS for the amount of $1,599.04.
This is the breakdown of what VCFS provided as my payoff:
Contract Obligation (residual value): $23,331.55
Sales Tax Due: $1,604.95
Estimated State (CT) Property Tax Amount: $1,031.67
Purchase Option (Disposition) Fee: $350.00
Seems that some taxes were refunded…
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May also be under some consumer bill of rights specific to CT law. IIRC Mercedes still allows transfers for CT residents
Do they also buy out leases without trading it in for another Volvo?
They can afaik. I’m not purchasing another car for now.
Good to hear as im tempted to take carmaxs offer on my leased Volvo as well. I didn’t know that my purchase price of 41,300 already included taxes. So when I found out on this forum that I would have to pay tax on top of the payoff amount in order to sell my lease, it didn’t make sense for me to take the lost. Now that I know $41,300 is my taxed amount and carmax is $44,200. I will be getting back ALL of my upfront cost plus $600, it doesn’t sound like a bad idea. Only thing that worries me is trying to find another deal like I have, which seems impossible.
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Depending on where you live, it seems there are a lot of brokers on this site with pretty decent deals. Seems like with the computer chip shortage, deals are harder to find on your own… CarMax seems motivated in buying leased vehicles for a competitive price allowing positive equity for the leasee… VCFS really left me with a negative feeling towards Volvo brand…
So only options are Carmax and Givemethevin with more work than usual?
I sold both of my Volvos to a local Volvo dealer this weekend. One had 5 months left on the lease and the other had 12 months. The dealer paid off the leases in full.
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From what it looks like from other users, these two routes have been successful. The main thing to remember is that they are buying it out at the post-tax buyout quote, not a pre-tax dealer quote.
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Did you act like you where buying another vehicle or just come straight out and ask how much will you give me for them at the dealer?
I was leasing a new Volvo and told them that Vroom had offered me the full buyout amounts for both of my current leases, but that if they wanted them instead it would make things easier for me.