I'm getting rid of it and can't really find any similar ones that have recently sold. It has 28,000 miles, excellent condition, 6 speed manual, navigation, Bose with 6 CD changer. The pay off on the lease is $86,546.

 

X-50 adds $3-5K, miles are on the high side.
Maybe $80K.

 

From what I dealt with recently with chase the car is worth $77ish so Keep it b/c you don't need to take such a loss now! y question is have you tried to negotiate the buyback? many leasing companies know they will take a bath on these and will negotiate.

If you are trading in on a new car and get the tax credit then the loss may be a non - event

 

Tax credit? How do you suggest getting the credit?

 

For example if you are buying a $100k car and your trade in is worth $80k.. you'll only be paying sales tax on the difference in this case 20k.

 

Right, but my car is worth -$6,000. So there's no trade-in.

 

Is the lease finished and you have to make a decision to buy or turn in or do you just want out to get something else?
Sounds to me like you have a great car and there is no reason to take the loss you will be taking wiht that $86k+ payoff

 

i dont hink tax credit works on california cars

 

GFORCED - Just because your car is under water, worth less than what you owe on it, does not mean it has no value on trade-in for sales tax credits. If you get $80k from a dealer in trade-in value then that $80k reduces the amont you pay sales tax on, for the new car.

 

DJ has a very good point. Just last month I was able to negotiate with my leasing company and bought my clk55 at a great deal. Try it and good luck.