SwedeSpeed - Volvo Performance Forum banner

1 - 6 of 6 Posts

·
Registered
Joined
·
184 Posts
Discussion Starter · #1 ·
We have a 2019 Inscription lease. The lease buyout seems to be quite a bit less than what I could probably sell it for esp b/c I really take care of my cars (or at least what a dealer would sell it for). I usually have good luck selling my cars on CL but the xc90 would be at a price point that will be possibly challenging (pricey cars sell slow on CL). I am thinking of listing it a couple of months b/f the lease ends, just not sure how to work out the deal with the buyer. ?Probably have them provide a deposit, pay off the car myself, get the title (how lng does it take to get a free and clear title?), then close the deal. Probably sell it for a few thousand more than the payoff

Anyone else done this?
 

·
Registered
Joined
·
5,186 Posts
I considered this same option but ultimately didn’t take this approach.

Keeping a higher priced car makes it tougher for many buyers, as they would have to find their own financing, or pay cash. Lots of folks also want to buy a CPO’d car, or one with an extended Volvo or 3rd party warranty.

I recommend you get a quote from a Carmax to buy the car outright from you.

Waiting to have a buyer lined up before paying off your car and obtaining a title may be a deal breaker for some buyers.
 

·
Registered
Joined
·
6,921 Posts
Nobody will give you deposit and wait for the title to come after a month.

If you decide to sell by yourself, you can buy it off, wait and get the title then list it for sale, while shopping for your next car.

However high price car is hard to sell, unless it is something collectible.

Sent from my Z978 using Tapatalk
 

·
Registered
Joined
·
1,159 Posts
I have sold many cars with and without the title in hand. When you say pay off a loan the Pink Slip showing that you are the new owner can take a bit of time in California to get. I have typically gone to my local Auto Club and had them process the paperwork. They can handle the transfer of ownership so that the new buyer or their bank gets the new Pink Slip. Auto Club has all the paperwork one needs to satisfy the DMV. I would think it is similar in other States. Obviously you would need a current registration or Auto Club would need to verify it is in your name in the system. Remember when you purchase from a Dealer you never get the Pink Slip but they do transfer title and give you the required paperwork to show you or the bank making the loan, now own the car. I know in California there is a way where you can pay off the car and sell it without incurring the used car tax. When I purchased my 2017 XC90 T8 I did so from a Nissan Dealer who had also owned a Volvo Dealership. I sold them my Leased Toyota by first agreeing on a price that they would pay me and then making sure that Toyota got paid what was owed at that time. My Toyota lease still had about 3 months remaining.
 

·
Registered
Joined
·
13,504 Posts
I traded in a leased car I wasn't driving that much at Carmax a couple months back - gave me more than any other dealer - easy transaction though I probably left a little money on the table than if I was to sell it privately. I ended up walking away with a few dollars because Carmax gave me more than the lease buyout.

I think selling a pricey car on CL is tough as you wait for the buyer to get the car inspected, get financing, wait for your title to come back, buyer gets cold feet and flakes out, rinse and repeat. I've found it's just not worth it to me - YMMV.
 

·
Registered
Joined
·
439 Posts
What’s the buy out and what is the private party sale amount. You will have to be a decent amount less than a dealership sale because the dealership is often easier to buy from.

If you think you can sell it for more than the buyout, buy the vehicle at the end of the lease and then put it up for sale. I can’t imagine there are many people who will commit to a vehicle a couple months before it’s avaialble. There’s nothing special or hard to find about XC90’s and most buyers would go with their he purchase that has the least amount of friction.

If you buy it yourself, you can always just keep it if you don’t find a buyer.
 
1 - 6 of 6 Posts
Top