Lease Buy-Out...Suggestions on financing the residual value of the car?
11-05-2000, 07:08 PM
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I hope that you aren't dealing with Volkswagen Credit......
Make sure that they don't classify this as a voluntary surrender (aka. repossesion). On the subject of residual, it will depend on the money factor and the termination value of the car, as stipulated in your lease.
11-05-2000, 08:40 PM
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Re: Lease Buy-Out...Suggestions on financing the residual value of the car?
When I got my A4, I had a Passat with about 3 months to go on its lease. I called VW credit and they were very nice and everyone I spoke with was helpful. I wanted to explore my options and I was thinking I would not get a great deal if I traded it back to get the A4. You can buy the car at whatever the current payoff is. They really don't want you to sell it...they don't want to be in that business but they do want to sell it to you...I think it is the easiest way out for everyone. Since I had a 3 year record of good payments, I was automatically qualified for financing if I bought it. Interest rate was good and no hassle. So I my case, I decided to buy the car and then resell it on my own once I get the title clear.
Bruce
'01 1.8TSM
Bruce
'01 1.8TSM
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