Hi All - Just looking for some advice on my expiring 2020 XC40 lease with 27.5k miles on it and payoff amount of ~22,500. The lease is up end of December and wanted to start looking at my options. Due to our family getting bigger we are in need of a larger SUV so keeping it isn’t possible. I know Volvo is offering good incentives on XC90s this month if you are returning a lease but wasn’t sure if that is better than just buying the car out and selling it as I believe I have some equity in it. We are interested in an XC90 or something comparable in size like a 4Runner. Any advice is appreciated.
You can turn it in.
You can trade it in on a new volvo.
You can buy it and sell it.
How much are purchase offers to buy it? How much is your buy out after taxes/fees?
If the purchase offers are significantly more than your actual buy out, there you go. If they’re not, it likely doesn’t make much sense.
Try carmax, driveway, etc. to see if buying out and paying sales tax still leaves you with enough equity to make sense to go that route. Then get an XC90 separately. Dealers won’t go as high on equity, but you may still try and negotiate.
22k?? is that a t4 or something?
Its a T5 Momentum. Was a demo vehicle before we leased it.
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