Used G70 value

[mrcleeaan]

Vroom upped the price to $38,432 today.. Really considering selling to them now, especially since I work remote and rarely drive it.

 

[KusaKusa]

There were one or two articles saying that car auction prices have flatlined, so used car prices will probably reach their peak a few weeks later. There were some claims that manufacturers are starting to steady their output too. Not 100% sure how accurate those statements are. But unless I hear something contradictory, I'll probably look to sell my other car mid-July. Since I'm not in a rush, I'll see if I can use Vroom and get a good price from them.

 

[50jae]

I just bought out my 3.3T AWD advanced lease for the 24.5k residual value plus sales tax in PA and doc fees. Vroom is offering me 38.5k for this car, but I honestly can't think of anything to replace it with, especially with the insane markups for any car these days. Other than a faulty coil that was replaced under warranty, car has been good to me so I'll keep it for now.

 

[Terdbath]

Similar to the post above..... For the buyout amount I cant think of another car to replace mine after lease end. At the dealership yesterday for scheduled maintenance and have never seen the lot so empty. This a Mazda, Toyota, Hyundai, VW combo dealer that used to have a row of various new cars on the boulevard into the dealer property and now its completely empty. Even at my last oil change in May 2021 there was not a noticeable dip but now it looks like a ghost town in each of the individual dealer lots.

 

[tarhoosier]

In case anyone was considering a new Mercedes Benz SL (any model) you are likely out of luck. New York Times had an article today about the new version of the SL softtop and it is based on information released and manufacturer claims and photos as the car itself is not coming until sometime next year. This is a vehicle that cannot be delivered decontented due to chip shortage or supply/demand issues. I thought to myself "what is the availablility of a new 2021 SL today?" My answer was "Keep dreaming". A cursory search found none within hundreds of miles of Charlotte. I did not make a serious search as I had the answer to my question. Used late model SL are available at close to and above MSRP depending.
If you wait six months or more, have an established relationship with your M-B dealer, are willing to take your second choice then, maaaaybe. Troubles of the 1%

 

[50jae]

Similar to the post above..... For the buyout amount I cant think of another car to replace mine after lease end. At the dealership yesterday for scheduled maintenance and have never seen the lot so empty. This a Mazda, Toyota, Hyundai, VW combo dealer that used to have a row of various new cars on the boulevard into the dealer property and now its completely empty. Even at my last oil change in May 2021 there was not a noticeable dip but now it looks like a ghost town in each of the individual dealer lots.

Same deal at my local dealer although there were quite a few pallisades on the lot. When I was buying out my lease I inquired about any allocations for the 2.5T GV70 (I'm looking to get one for my SO), and they said flat out there's going to be 4k markup over MSRP for any SUV they sell. I think I'm going to wait it out, and we're managing to use the G70 as a family car for now. Trunk can hold our infant stroller and a couple bags of grocery with our infant in a rear facing seat in the back

 

[Beefer]

I ended up extending my lease for 6 months. So until May. Great thing is...it's month to month.

My buyout right now is $27k. I know I can get $41k for it right now. But what would I get?....nada. With no deals to be had...kind of stuck.

So I either find something in the next 6 months (eyeing a Santa Fe Calligraphy AWD at MSRP)...or buy it out before May.

 

[Aquineas]

I ended up extending my lease for 6 months. So until May. Great thing is...it's month to month.

My buyout right now is $27k. I know I can get $41k for it right now. But what would I get?....nada. With no deals to be had...kind of stuck.

So I either find something in the next 6 months (eyeing a Santa Fe Calligraphy AWD at MSRP)...or buy it out before May.

But.... during the pandemic and working remotely (I think I remember you saying you were working remotely and hadn't driven your car much), do you even need a car for 6 months? If you have another car in the family, maybe it's worth letting the G70 go and then buying another one when they stop handing out money.

 

[Beefer]

But.... during the pandemic and working remotely (I think I remember you saying you were working remotely and hadn't driven your car much), do you even need a car for 6 months? If you have another car in the family, maybe it's worth letting the G70 go and then buying another one when they stop handing out money.

My wife has hers...and she goes to work 3 days a week.
My daughter has hers...she drives to school (HS) 5 days a week...plus work...plus everywhere else she hangs out.

So...sitting at home without a car would drive me insane. In reality...I would save my payment x 6...I guess I could Uber LOL.

 

[Aquineas]

My wife has hers...and she goes to work 3 days a week.
My daughter has hers...she drives to school (HS) 5 days a week...plus work...plus everywhere else she hangs out.

So...sitting at home without a car would drive me insane. In reality...I would save my payment x 6...I guess I could Uber LOL.

lol I hear ya'. It's the very same reason I didn't sell mine after I got it back from the accident. Getting into my car and turning up the stereo, even if it's to run an errand, is a Zen moment for me.

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[mrjg7019]

I ended up extending my lease for 6 months. So until May. Great thing is...it's month to month.

My buyout right now is $27k. I know I can get $41k for it right now. But what would I get?....nada. With no deals to be had...kind of stuck.

So I either find something in the next 6 months (eyeing a Santa Fe Calligraphy AWD at MSRP)...or buy it out before May.

Did the lease extension also increase allocated mileage? or did that remain the same?

 

[Beefer]

Did the lease extension also increase allocated mileage? or did that remain the same?

Everything stays the same…except residual goes down a bit.

 

[mrjg7019]

I just hit the 30k lease allocation.

$0.25/mile and not liking the prices of new cars these days.

Was thinking of buying out my vehicle but also not sure if they add up additional miles.

The finance department isn't working today!

 

[G-929422]

I just hit the 30k lease allocation.

$0.25/mile and not liking the prices of new cars these days.

Was thinking of buying out my vehicle but also not sure if they add up additional miles.

The finance department isn't working today!

If you buy the car, they will not add over mileage expense to your purchase price. Deal with the leasing company and take the dealer out of the transaction if you can.

 

[mrjg7019]

If you buy the car, they will not add over mileage expense to your purchase price. Deal with the leasing company and take the dealer out of the transaction if you can.

Yes, just spoke with the finance department to confirm.

Definitely not going to be going to the dealership to finalize this! haha

 

[50jae]

Just remember that you have to go through the dealers in some states per state law. PA was one of them and I couldn't purchase my lease independently.

 

[mandwer]

Tried selling my Genesis to the local Hyundai dealer and it sounds like Genesis Finance is playing games. They told the Hyundai dealer that their buyout quote was "fair market value" and not the adjusted unpaid lease balance that I see on my buyout quote. Has anyone sold their leased vehicle not through a Genesis dealer in the past couple of months (California for reference, so no dealer requirement). I know lots of other lease companies are restricting buyouts, but Genesis seems to be doing this in a more stealthy manner.

 

[BadTrainDriver]

Tried selling my Genesis to the local Hyundai dealer and it sounds like Genesis Finance is playing games. They told the Hyundai dealer that their buyout quote was "fair market value" and not the adjusted unpaid lease balance that I see on my buyout quote. Has anyone sold their leased vehicle not through a Genesis dealer in the past couple of months (California for reference, so no dealer requirement). I know lots of other lease companies are restricting buyouts, but Genesis seems to be doing this in a more stealthy manner.

This is very common, read your fine print.

You can buy out your lease for the contract amount, then sell the vehicle to whomever you wish, after the fact. However, you cannot indirectly sell it while under the contract of your lease, as you don't own the vehicle.

 

[Beefer]

^ 1001% false

You can sell your car at any time on a lease…as long as the amount owed is paid.

The amount you get for the car is market value…which happens to be crazy inflated right now. You owe Genesis Financial the residual amount plus any remaining payments…rest is in your pocket.

Ask me how I know.