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    Thread: Lease ?: Residual lower than blue book, what should my friend do?

    1. Banned
      Join Date
      May 9th, 2011
      South ILLtown.
      no dubs :(
      08-19-2012 05:10 PM #1

      I've got a buddy whose coming to the end of his VW GTI lease this week; Blue book on his car with 45,000 miles is about $14-15,000. His residual is $11,578.

      I've never heard of this happening but what should he do? It seems he should "buy it"; then sell it.

      But what options are best and how could he do this? If he walks in and buys it, signs terms to a loan; how can he sell the car and make the extra cash?

      Thanks for your time

    2. Member
      Join Date
      Sep 8th, 2007
      Calgary, AB
      2015 X5 35i
      08-19-2012 10:21 PM #2
      Pretty simple....

      Does he want to keep it? If so then buy it out.

      If not he can sell privately for about that much or maybe 1-2k more, or he can trade it in at the dealer on a new vehicle - they will give him blue book value (or somewhere there abouts) for the trade.

    3. 09-12-2012 08:19 AM #3
      Unusual. What are the exact specs on this GTI?

      If he can buy it and flip it immediately- that would be nice. Remember that if he buys it out he has to pay tax on residual value- so add tax to that- nso ow we are probably into the GTI for aprox $12,400 or so. If he can sell it immediately for much more than that- I say do it.

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