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Discussion Starter · #1 ·
So my current Tiguan's lease isn't due until September, which is roundabout the time my reserved ID4 Pro should get here.

I thought I had plenty of time to just wait.

But....

I appraised my Tiguan at Carvana, and they offered me several thousand more than the lease-end buyout amount.

Problem is, that offer expires in just one week?

What do you folks think would be a good tactic here ?
 

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I had a Pro S Blue/Grey reserved for Aug/Sept. When I started seeing available cars at every dealer I hit their chats up and found the same car with gradient that just came in that morning. Cancelled my res and got my $500 back two days later. Pretty glad I got my EV just as people are going nutty hoarding gas.
 

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Wait and try CARMAX later (I got emails from them long after my offer expired). The used car market is nuts right now. Dealerships are having stresses on inventories of new vehicles, so the used cars are in demand. The car rental companies are also having trouble resupplying their inventories and are out buying on the used car market.

Holding on to your Tiguan will allow you to keep your car while waiting for what you really wanted. If the delivery timeline gets extended, VW Credit will also extend your lease.
 

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ID.4 1st Edition White / Lunar Grey
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Agreed, that Carvanna offer wasn't a mistake. Won't you benefit to hold it, keep paying the lease and check again in a month or three?

On the other hand, if you begin reaching out to dealers with inventory and saying "hey, I'm waiting for an order, but I can be motivated to buy tomorrow if you make me the right offer," you might get a sweet deal on top of the $2,000 savings a 1st offers over a loaded Pro S.
 

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Discussion Starter · #6 ·
Agreed, that Carvanna offer wasn't a mistake. Won't you benefit to hold it, keep paying the lease and check again in a month or three?

On the other hand, if you begin reaching out to dealers with inventory and saying "hey, I'm waiting for an order, but I can be motivated to buy tomorrow if you make me the right offer," you might get a sweet deal on top of the $2,000 savings a 1st offers over a loaded Pro S.
Good points.

As to the risk of waiting, I was assuming that when the Carvana offer expired, that they'd establish another offer at that time. Perhaps not as lucrative, but still good.
 

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Our Ioniq came back at $1000 higher than our lease buyout through Carvana as well. And, I got $2k higher than Carvana's offer for my Tesla at the VW dealer where I traded it, too.

Might be worth getting a buyout quote on the Tiguan at a VW dealer with a 1st Edition in stock, it may even be more than Carvana. Up here there's still 2 1st Editions left @ $1529 below MSRP. (Upstate NY)
 

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ID.4 Pro S Gradient AWD pre-ordered 9/23/2020
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I just sold a leased vehicle (the one our AWD Pro S will replace) to Carvana for the very reason you stated. However, I’m fortunate that we still have two other cars and I’m still working from home full-time, so we have the flexibility to be without one of our vehicles for a time.
 

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As to the risk of waiting, I was assuming that when the Carvana offer expired, that they'd establish another offer at that time. Perhaps not as lucrative, but still good.
I've done three or four rounds of estimates and re-estimates from Carvana, Vroom, Carmax, etc. on my Honda Fit over the couple of months since my 1st Edition left the factory. They have been pretty consistent, and a couple have risen slightly. We've continued putting miles on it at a very slow pandemic-work-from-home pace, but otherwise the condition hasn't really changed.

I read the one week thing as, yes, a sales tactic, but also a hedge for them against the condition of the car changing. Things aren't likely to change much in a week, and they have to give you at least a couple of days to get things in order, but at some point they'll have enough situations where they have to honor a quote after some significant problem developed that, in the aggregate, it costs them money to lengthen the window. I don't think you should feel pressure to act right now, before this one week offer expires, but it may be worth trying to assess the likely trend over the several months between now and September and gauge whether the market in general might be (substantially) better in late spring/summer vs. fall.

You might also want to check the logistics/order process threads - I get the sense that Pro orders are appearing sooner than the initial estimates, so you may not have to wait until September. And of course there's the option of buying off the lot, which would sound tempting if I were in your shoes.
 

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... I read the one week thing as, yes, a sales tactic, but also a hedge for them against the condition of the car changing...
My ID.4-curious co-worker I wrote about in a previous post got a $27,000 trade-in quote for his Honda Odessey. Then his son hit a deer...
 

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I too couldn't wait and really wanted a 1st Edition model as opposed to the ProS gradient that I ordered. I traded in my Volvo XC60 for $41,000 for a white 1st ED. They offered $36,000 but I showed them the KBB value and a used parking lot car dealer offered it for $41,000. The Volvo was in pristine condition and so they agreed with the trade in.
 

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So my current Tiguan's lease isn't due until September, which is roundabout the time my reserved ID4 Pro should get here.

I thought I had plenty of time to just wait.

But....

I appraised my Tiguan at Carvana, and they offered me several thousand more than the lease-end buyout amount.

Problem is, that offer expires in just one week?

What do you folks think would be a good tactic here ?
I know this wasn't what you asked, but this is one of several reasons why I never lease. You are handcuffed by the lease dates. If you own you can sell it and buy a new car when the economic conditions are right for you.
 

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I know this wasn't what you asked, but this is one of several reasons why I never lease. You are handcuffed by the lease dates. If you own you can sell it and buy a new car when the economic conditions are right for you.
I don't lease either, but what you're saying isn't the case. DTT is saying Carvanna's offer is to buy out his lease early. An owner can also (usually) buy out a lease at any time, prior to contract end.
 

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I don't lease either, but what you're saying isn't the case. DTT is saying Carvanna's offer is to buy out his lease early. An owner can also (usually) buy out a lease at any time, prior to contract end.
You are right about the crux of the question being more related to buy now or wait for the car he ordered. I was just focusing on the side fact that he has to buy out the lease in order to sell. He is in a fortunate position to have a great offer on the leased car, but I think his overall situation also illustrates a problem with leases making it more difficult to take advantage of good market conditions.
 

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Discussion Starter · #17 ·
I know this wasn't what you asked, but this is one of several reasons why I never lease. You are handcuffed by the lease dates. If you own you can sell it and buy a new car when the economic conditions are right for you.
I have done purchases and leases. Personally I have had two purchases that didn't turn out great because of bad reliability (a Honda) and an unfortunate crash that wasn't my fault (BMW).
I have also had purchases that turned out great.

Leases, I've never had a bad experience. In the current situation the used car market ended up beating the expectation that was built in to my lease, but imagine if things were reversed.
If the Tiguan had a residual of 16k but the used car market had tanked, and the fair market value were 12k, then what?

With the lease I just turn it in and it becomes VWs loss. They know this when they issue leases but it works out for them too because there is immense value in have a consistently repeatable customer. Also, many lease returners just return their cars even if they stood to profit from it.

I know leases aren't for everyone, especially people who drive more than 15k miles per year.

As to buying, I plan to buy the current lease on my Stinger, because it has turned out to be 100 percent reliable and loads of fun, plus 10 year powertrain warranty.
 

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Discussion Starter · #18 ·
I dunno, that sounds about as complicated a problem as the bank still holding the title on a car being financed. Drive it in, hand over the keys, walk away, and maybe with some extra cash in the pocket.
I'm still trying to educate myself on this very issue, the title. From what I understand the "easiest" way is to work the early leased car into a trade, putting the value into reducing price or in the case of lease, reducing the capitalized cost.

A "less easy" way is to do two transactions. For example sell to Carvana or another buyer and then wait for the paperwork to be complete and the title to be in their hands, then I get a check (I'm actually not sure if that's the case). I suppose a downside to that would be sales tax offset. I'm really not sure.
 

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Good points.

As to the risk of waiting, I was assuming that when the Carvana offer expired, that they'd establish another offer at that time. Perhaps not as lucrative, but still good.
I went through two rounds with Carvanna with my 2012 VW Beetle while waiting for my ID.4 Pro. Carvanna will extend your offer as long as you add less than 1000 miles and the car remains in the same condition. Carvanna offered $3000 more than the VW dealer (when I was thinking of using it as a trade) and $1500 more than Carmax. They handed me the check and loaded the Beetle on a flatbed truck - nothing could be easier!
 

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I went through two rounds with Carvanna with my 2012 VW Beetle while waiting for my ID.4 Pro. Carvanna will extend your offer as long as you add less than 1000 miles and the car remains in the same condition. Carvanna offered $3000 more than the VW dealer (when I was thinking of using it as a trade) and $1500 more than Carmax. They handed me the check and loaded the Beetle on a flatbed truck - nothing could be easier!
The used car market is crazy (for other people, I got piddly offers for our Chevy Sonic). Carvana just gave my buddy 9k over what he owed on a Kia Soul he just bought used less than 2 years ago.
 
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