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

    1. Banned
      Join Date
      May 9th, 2011
      Location
      South ILLtown.
      Posts
      1,531
      Vehicles
      no dubs :(
      08-19-2012 06:10 PM #1
      Hey,

      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
      Location
      Calgary, AB
      Posts
      654
      Vehicles
      2015 X5 35i
      08-19-2012 11:21 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 09:19 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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