• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Lease ending on my WRX in a few months

T

tontod

Diamond Member
The 3 year lease on my WRX will be ending April of 2013. The buyout value is around $16k-17k from what I remember (dont have the lease paperwork on me right now). My thought was that I would buy it from the dealer, then I should be able to turn around and sell it anywhere else for a lot more? I know WRXs hold their value pretty well.

Also, if I do that, wondering what I should get for my new car. I like having a turbo and want a car with higher mileage, was thinking of a Jetta TDI. It would be a drop in power, but maybe eventually I could chip it and bring power levels up a bit. 🙂
 
TDI is going to be a big step down in HP. Even chipped it's only around ~170 IIRC. The torque is nice though...
 
tontod said:
The 3 year lease on my WRX will be ending April of 2013. The buyout value is around $16k-17k from what I remember (dont have the lease paperwork on me right now). My thought was that I would buy it from the dealer, then I should be able to turn around and sell it anywhere else for a lot more? I know WRXs hold their value pretty well.
Click to expand...

First of all, you need to make sure that the car is worth significantly more than the buyout. Also, you don't need a dealer for the transaction, they won't be involved at all. You're buying the car directly from the finance company that the lease is originated through.

Second, in most states where sales tax is charged on the lease payments, you buying it out would be considered the same as you buying a used car. That means you'll officially be the 2nd owner of the car and you will owe the state sales tax on the buy-out. Is buy-out value + sales tax < what you could reasonable sell it for?
 
Kroze said:
I don't think you're going to sell and make a profit that is worthwhile.
Click to expand...

2010's with that many miles are going for 22-24k (Limited equivalent). The OP would be silly to not take the buyout and sell it for 5k more.
 
Yeah, somehow WRX/STi residuals are stupid high.

OP, amuse yourself and see what Carmax offers. If its close to the buyout then you know you'd be stupid not to do it.
 
PhoKingGuy said:
I did this with my 2010 Jetta TDI, lease buyout was 13.5k. Carmax offered me 20,500 🙂
Click to expand...

Wowzers. That's insane. Assuming you had a roughly $350 payment (number out of my ass) for 36 months, then you basically rented that car for ~ $150 a month. Not bad!
 
ExarKun333 said:
2010's with that many miles are going for 22-24k (Limited equivalent). The OP would be silly to not take the buyout and sell it for 5k more.
Click to expand...
I hope you do know the difference between listing price and selling price. In a private Forsalebyowner deal, a buyer expect to pay a lot less than what the price the dealer LISTED for. Also have fun dealing with joy riders and tire kickers wasting your valuable time.
 
Kroze said:
I hope you do know the difference between listing price and selling price. In a private Forsalebyowner deal, a buyer expect to pay a lot less than what the price the dealer LISTED for. Also have fun dealing with joy riders and tire kickers wasting your valuable time.
Click to expand...

List is higher that what I referenced. Does the price of his car make you upset or something? Good luck getting this car or less than $21k.
 
Interesting I did not know it was possible to come out ahead on a lease, but if you can go for it and make some cash that uncle sam will tax you for.
 
I like the TDI. As it was mentioned above, there is a drop in HP but the torque is real nice. Plus the diesel engine gets real nice MPG. As of today in California, diesel is actually cheaper than 87 octane. Insane.
 
As mentioned, I think you're looking at sales tax on the buyout price if you then resell. However, if you sell to a dealer that may not be the case; I traded in a car that was on lease recently and the dealership bought it out at that purchase price. Since they don't have to pay sales tax on a car each time it hits their lot, the tax for me was moot.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top