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Getting out of lease contract: Auction a good idea?

Ralf3 Ralf3
New User | Posts: 1 | Joined: 03/11
Posted: 03/01/11
05:12 PM


I've got the following problem:
I have to leave the country in June and I have a VW Jetta with a leasing contract that will end on 01/04/2012. One of my few options to get rid of the car earlier is to give it back to the Volkswagen Credit Bank in May and they will sell it on an auction.
If they get the calculated price of about 13,000$ I should be fine. If not I would have to pay the remaining amount.

I don't like the fact that I don't know yet how the auction will most probably end.

It is a black 2010 Jetta with no scratches or dents, interior is perfectly clean. By may it will have about 14,000 miles. "Manufacturer's Suggested Price" was 17,605$ and the "Total Price" was 19,855$. The only problem is that the car had a fender bender in the back because an old guy bumped into it - the repair was done by a VW body shop. I'm not sure if this little accident might have any influence on the price although it was fixed.

Does anyone have experience with car auctions? Do you think that car could still be sold for 13,000$ on an auction in May? Any advice?



Nick.Joel Nick.Joel
User | Posts: 153 | Joined: 06/12
Posted: 11/21/12
12:53 AM

You will get fair price in return at auction. But the only problem that I believe is time factor.

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