Purchase of Leased Car

[ny96]

My lease is up next month and I’m going to buy my car. When my husband did this a few years ago I remember that we went into the dealership with a check. When I go on the VW Credit website it has my residual value and payoff amount. Is there any reason why I’d have to visit the dealership, or can I just make the payment for the car and be done with it, and then I own the car and they just have to send me the title at some point?

[scm1011]

Apr 13, 2023 16:41:40 GMT -5 ny96 said:

My lease is up next month and I’m going to buy my car. When my husband did this a few years ago I remember that we went into the dealership with a check. When I go on the VW Credit website it has my residual value and payoff amount. Is there any reason why I’d have to visit the dealership, or can I just make the payment for the car and be done with it, and then I own the car and they just have to send me the title at some point?

I did just that when I bought my VW off the lease. No reason to go to the dealership!

[ny96]

Apr 14, 2023 10:19:12 GMT -5 scm1011 said:

Apr 13, 2023 16:41:40 GMT -5 ny96 said:

My lease is up next month and I’m going to buy my car. When my husband did this a few years ago I remember that we went into the dealership with a check. When I go on the VW Credit website it has my residual value and payoff amount. Is there any reason why I’d have to visit the dealership, or can I just make the payment for the car and be done with it, and then I own the car and they just have to send me the title at some point?

I did just that when I bought my VW off the lease. No reason to go to the dealership!

Awesome, thank you! I was dreading the trip across town and uncomfortable conversations with the sales staff who I’m sure would try to convince me to turn it in. Right now I can buy it for 15k and I got a Carvana quote to sell for 24k. I’m not going to sell for a while, but I want to figure out the sweet spot where I get the use out of the car without having to make monthly car payments, but can still sell for a fairly high amount and get a new car.