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2013 XC90 Buy Off Lease: Advice

2K views 17 replies 10 participants last post by  II Kings 9:20 
#1 ·
My brother's 2013 XC90 3.2 will be off lease in a few months.

Never a mechanical problem, dealer maint by the book, 33K miles, residual buy out $22K.

Seems like a great deal to me.

Any thoughts?
 
#3 ·
I know nothing about the used market in the US but certain things are the same wherever you are. If you know the car, you like it and the price is fair to a bit on the high side then buy it. You're buying peace of mind apart from anything else.
 
#4 ·
For reference, I picked up our '09 V8R-D w/ 60k, sight unseen, for just under $24k in Dec. Even though there are two less cylinders, for four years newer and half the miles plus knowing everything about the history, all for $2k less compared to my purchase? I'd say go for it. You should definitely try to negotiate on price, or try to get them to CPO it, but at the end of the day, if they don't budge, it feels like a decent deal. Peace of mind is nice.
 
#8 ·
You cannot have the CPO added UNLESS the car goes through the dealership ... that means the dealer has to own it, e.g. they buy the lease return from the leasing company, CPO it and then retail it. Guaranteed it will not be at $24K anymore.

Make sure your brother's lease contract allows a private sale. If so, $22K is an excellent price, but I have a feeling that price is reserved for use by the leasing company. After all, that "residual" price was the result of a calculation that resulted in a lease payment that your brother was willing to pay! They will first shop the car around for the highest bidder at various auctions. Manheim auction prices are currently at $24K to $26K, depending on miles, condition and features etc. Suggested retail is around 20% higher.

If you can purchase it from your brother, shop for a CPO like warranty from Route 66. Highly rated, excellent coverage and readily available from your local credit union.

GL
 
#15 ·
original lease terms were likely not good ?

I have turned in a lease, non-volvo, have dealer cpo it for 1495 (standard rate), written a 1000 "profit" for dealer, and kept the car
my price was below lease end buy out.

Market prices change and manheim is the way to go to figure it out. someone here should be able to give the manheim price for the xc90
 
#16 ·
If the market drops, one can buy it below the lease end buy out. I just turned in my Leaf and Nissan offered me $5K off to buy it out. I did not.

Chase begged me to buy out the '99 Saab 9-3 (my first lease) and called several times to remind me that the buy out was negotiable.

Of course, if I can negotiate below the $22K buy out I will but that is unlikely if Manheim is showiing $24K+
 
#18 ·
Awesome. My brother still has 5 months on his lease so these prices will come down over that time. $22K is a no brainer in 5 months. His payoff today which includes all of his remaining payments is less than these auction prices.
 
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