I'd look at comparable vehicles and see where the price falls, and decide if you want to keep it.. Its really up to you lol.. Have you tried to haggle them down? My gf haggled with Toyota and got her lease for really cheap.
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.
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.
The dealer certified XC90s with under 35k miles are $29-$35k. IMO, certification is not worth paying an extra $7k. If you can tack on an extended warranty for not too much extra, then you would be getting a really great deal. I wouldn't pass it up!
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.
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
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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