Volvo XC90 Lease Return
I have a 2025 Volvo XC90 T8 Plus (PHEV) that I had for a 2 year lease that is coming to an end in December with a residual value of $53k and it’s got 19k miles on it.
I was considering my options a couple month ago and had decided to buy it at lease end since I’d really enjoyed it. Then about 2-3 weeks ago a distracted driver pulled out at a red light and hit my passenger side bumper causing about $3.7k worth of damage to the SUV. After that I had basically decided not to buy it anymore because of the hit to its resale value.
Fast forward to today and I received a letter from Volvo Financial Services that is offering $6k off the residual price of the vehicle if I buy it out (putting me at $47k before taxes and fees).
I thought I had my mind made up, but now I’m wondering if it might be worth it to buy it out, or if the accidents hit to its resale value / reliability makes it still not worth doing.
I know very little about cars, so that’s why I wanted to get the communities take on the situation.
EDIT: For additional context, I made a claim against the insurance of the driver who hit me and the car is currently getting fixed at a Certified Volvo Collision center and is fully paid for by insurance.