I have about 18mos left on my lease but want to sell. Is my only option to buy out early and then
05-08-2007, 01:03 PM
#1
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I have about 18mos left on my lease but want to sell. Is my only option to buy out early and then
sell? I'm not keen on "selling" the car by letting someone take over payments. Starting a new business and looking to cut costs.
Thanks for any/all feedback.
Thanks for any/all feedback.
05-08-2007, 01:27 PM
#2
Check with your leasing company, but if it is AFS, then you must remain on the lease
as a co-signer until the lease ends.
Your options are to buy out the car for the present pay-off, and then try to sell it for that amount (or more if humanly possible), or trade it in on a less expensive car (Saabs usually have huge incentives for example) that might have some incentives to offset what is most likely a negative equity situation. A lease isn't designed to give you positive equity, so you should do some homework to see which way will cost you the least to get out. It will almost certainly cost you something - the unknown is how much and which method minimizes that amount.
Start by looking in the autotrader, checking the appraisal sites like edmunds and kbb, and if possible, a buy-bid from Carmax. Then call your lease company to find out the pay-off. Finally visit some second tier car brands such as Saab, Volvo, Jaguar, Infiniti, who might have a car you like, that also offers considerable incentives. You can then decide whether to trade your car in to them based on the bid they give you on the Audi, or dispose of it another way, and then use the incentive to lower your overall car budget (hopefully offsetting the hit of getting rid of your present car).
It's never easy to get out of a lease early.
Your options are to buy out the car for the present pay-off, and then try to sell it for that amount (or more if humanly possible), or trade it in on a less expensive car (Saabs usually have huge incentives for example) that might have some incentives to offset what is most likely a negative equity situation. A lease isn't designed to give you positive equity, so you should do some homework to see which way will cost you the least to get out. It will almost certainly cost you something - the unknown is how much and which method minimizes that amount.
Start by looking in the autotrader, checking the appraisal sites like edmunds and kbb, and if possible, a buy-bid from Carmax. Then call your lease company to find out the pay-off. Finally visit some second tier car brands such as Saab, Volvo, Jaguar, Infiniti, who might have a car you like, that also offers considerable incentives. You can then decide whether to trade your car in to them based on the bid they give you on the Audi, or dispose of it another way, and then use the incentive to lower your overall car budget (hopefully offsetting the hit of getting rid of your present car).
It's never easy to get out of a lease early.
05-08-2007, 01:46 PM
#3
AudiWorld Member
Your options are to sell for the entire ammount or try LeaseSwap
There are companies like leaseswap but I'm not sure how well they work.
Is it a cost thing or are you unhappy with the car?
I came from owning Saabs and I can tell you that this is a step in the wrong direction. They have the huge incentives because they don't sell.
After 35k on my 04 9-3 and 17 trips to the dealer I couldn't take it anymore, the GM DNA has taken over.
Build quality is poor and most parts you can find on the cheaper GM cousins.
If you are strating a new business maybe you can write the entire lease off on your taxes, check with an accountant.
Is it a cost thing or are you unhappy with the car?
I came from owning Saabs and I can tell you that this is a step in the wrong direction. They have the huge incentives because they don't sell.
After 35k on my 04 9-3 and 17 trips to the dealer I couldn't take it anymore, the GM DNA has taken over.
Build quality is poor and most parts you can find on the cheaper GM cousins.
If you are strating a new business maybe you can write the entire lease off on your taxes, check with an accountant.
05-08-2007, 06:59 PM
#5
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more details pls
provide some details of your car... see if anyone is interested on this forum to take over the lease. year, model, options, your location, monthly payments etc. etc.
but if you dont want to think about leasing it to someone else (basically someone taking over your payments) then find out your pay off amount and either list that price or close to it on autotrader or in the classifieds to see what kind of offers you get.... bottom line you will take a hit of some sort.
anyhow great 4th post
but if you dont want to think about leasing it to someone else (basically someone taking over your payments) then find out your pay off amount and either list that price or close to it on autotrader or in the classifieds to see what kind of offers you get.... bottom line you will take a hit of some sort.
anyhow great 4th post
05-16-2007, 05:17 AM
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Thanks for the comments....very helpful. I was able to do an early buyout on my Landcruiser and then
resell and came out positive but no such luck here. How "safe" is having someone take over lease payments.
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