Residual Value Question

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kyfdx Moderator Posts: 257,570
When dealers get involved in the buyout process, they add costs. However, it is very possible that VW Credit will not finance you on a lease buyout. To pay them cash for the car, you may have to arrange financing on your own, through a bank or credit union. But, call VW Credit first, to see if you can do the deal directly (with their financing).whitwilson89 said:My lease is up in the next couple of week. I had a 36 month lease, with a residual of $12,479. I went to the Volkswagen dealership I leased the car from today to talk numbers and decide whether I wanted to lease again or purchase. When discussing purchasing I was given the selling price of $13,942. This was of course coming from the guy in the next office looking at financing, and was being brought to me by the salesman. When I asked why this number was higher than my residual he went and got the finance "person" and brought him in the office. I asked why this number was higher than the residual and was told that the residual value is the price that I would have to pay, in cash, if I were to buy the car directly from Volkswagen. This is not the price I could actually finance the car for from the dealership. Is this the case? I feel like he is trying to pull one over on me. Help would be GREATLY appreciated. I left the dealership VERY frustrated because the numbers were much higher than I was expecting--- both for a new lease and for a purchase.
Alternatively, check with another dealer, to see if they can help you, without extracting more money for themselves.Edmunds Price Checker
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Answers
Give them a call; perhaps they still do that.
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