Lease payoff v. sale value - $10K difference

AnnetteFL

I was considering trying to sell my 330i and pay off my lease which isn't up til 6/2022. (I'm not happy with it, for reasons that I'll post in a separate thread.) The car is 1 year 8 months old and is just now hitting 10K miles. Lease is 10K/year and it should be at over 16K, so it's well under-mileage. The payoff amount (on BMWFS) is $40K but the value on KBB and Vroom is only $29-30K. The residual at lease-end is $31K. The residual and MF all matched Edmunds at the time of the lease. I'm no math whiz but I'm not sure why the car is currently valued so low; shouldn't it be around the same or higher than the payoff, given the low mileage?

AnnetteFL

BTW I am assuming I entered the correct info as far as add-ons to KBB and Vroom but now I'm wondering.

Michaell

AnnetteFL said:

I was considering trying to sell my 330i and pay off my lease which isn't up til 6/2022. (I'm not happy with it, for reasons that I'll post in a separate thread.) The car is 1 year 8 months old and is just now hitting 10K miles. Lease is 10K/year and it should be at over 16K, so it's well under-mileage. The payoff amount (on BMWFS) is $40K but the value on KBB and Vroom is only $29-30K. The residual at lease-end is $31K. The residual and MF all matched Edmunds at the time of the lease. I'm no math whiz but I'm not sure why the car is currently valued so low; shouldn't it be around the same or higher than the payoff, given the low mileage?

If there is a CarMax nearby, get a buy bid from them as well.