So I moved out to LA after I graduated 2 years ago and was pretty sure I would only be there 2-3 years. I decided to get rid of my truck and leased a Passat out there. It's a 2013 and the lease is coming up.

I have two options, give it back and buy/lease something new or buy it and keep it/trade it a little bit down the road.

My question is what other options do I have? It's in great condition, under the mileage limit etc, is there a hack out there where I can take it to another dealer and they offer the buy back and give me some kind of solid deal on something new/used?

I'm fairly against buying brand new as I don't like eating the immediate depreciation but I also want to get back into something bigger now that I don't live where gas is 2x the price of humanity. Possibly thinking and truck/suv 1-3 years old.

What experience/suggestions do you guys have?

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Posted by Coach Guidry

Member since Nov 2007

2333 posts

Posted on 10/20/15 at 1:49 pm to STLhog

Since its under the projected miles limit...use it as a trade-in.

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Posted by GoIrish02

Member since Mar 2012

1389 posts

Posted on 10/20/15 at 2:13 pm to Coach Guidry

quote:
use it as a trade-in.

Sell it yourself to a third party at a fair market value, and keep the profit for yourself.

It is generally better to separate the two transactions, otherwise you'll have to share the surplus with the dealer. The dealer will never give you a fair value for such a car versus a private sale.

This only works with good cars that have high residual value AND high resale, like Hondas. I did this with an Acura Tsx after a 3 year lease. Bought the car for ~$13,500, sold it to a private party for $16,000. Trade in value was barely over the buyout figure.

This post was edited on 10/20/15 at 2:15 pm

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Posted by STLhog

Nashville, TN

Member since Jan 2015

17714 posts

Posted on 10/21/15 at 9:14 am to GoIrish02

This is what I was looking for.

Thanks man.

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