Dealer S8 lease tricks? Or am I just missing something?
11-19-2002, 11:10 AM
#1
New Member
Thread Starter
Join Date: Sep 2000
Posts: 28
Likes: 0
Received 0 Likes
on
0 Posts
Dealer S8 lease tricks? Or am I just missing something?
I am very upset with my dealer today, I just found out they basically tried to con me into buying my car for $18,000+ more than I needed to.
Here is the whole story..
I start out leasing a 01 A4 2.8, I had it for 6 months and the dealer gets in a brand new S8 in January of 2001. I give them my A4 and take a new lease on the 2001 S8 for 2 years. My S8 lease is up January 12th 2003. Yesterday I go to the dealer to talk to them about buying the car after my lease, so they are trying to get me a figure for like 30 minutes. I have NO idea why it is taking so long. My lease was for 30,000 miles.. I only put on 7,800+ miles because after a few months I realized I would most likely end up buying this car but I still wanted to wait to see what the new A8 would like look. Well now the official photos came out I made up my mind I like the style I have MUCH better and want to keep this car for a while...
Ok so they finally get a figure. Out the door $65,000+ I am like "Uh. what?" after like 20 minutes he gets it down to a FINAL price of $63,000+" I ask 3 times what about that # on my original lease of the buy out, I could swear its much less. Used car service manager tells me many times "I do not know anything about your contract" and about how I cant get the extended warranty. So at this point im thinking, Mega road trip and plan to SOMEHOW get 30,000 miles on this car before I turn it in. No way in hell I am giving them a gift like that.. So I come home and check out my lease and my buy out says a price of 46,xxx. I call the dealer back and talk to them and they say "That's buying it from Audi"
So it seems they were trying to back my car BACK from Audi, then reselling it to me. I just got off the phone with Audi. My total price will be $47,537.12 + tax. That is a FAR CRY from $65,000.00
I talked with the Audi person and they were telling me how even when Audi sells it back to the dealer they sell it higher than they would to me. So I would have paid more there + whatever the dealer felt like charging.. Coming to around $18,000 more. Nice. After I have leased 2 cars there, and they knew my dad might buy a A6 there and I was thinking about buying a S4 for a winter car. GOOD THINKING GUYS, way to treat a loyal customer. Most likely not a loyal customer anymore.
Very upset with them, do not plan on giving them any business and frankly I have had issues with other Audi dealers. I may have my dad buy something else, I am tired of playing games with Audi and its dealers.
I do think a 01 S8 with 7,800 miles in as new shape is worth 47,537+tax.. Sounds like a good deal right?
Let me know if anyone else knows of dealer tricks like this.. Maybe someone will read this and have more knowledge when their lease is up, I am sure glad I made some calls.
Way to go Audi.
Here is the whole story..
I start out leasing a 01 A4 2.8, I had it for 6 months and the dealer gets in a brand new S8 in January of 2001. I give them my A4 and take a new lease on the 2001 S8 for 2 years. My S8 lease is up January 12th 2003. Yesterday I go to the dealer to talk to them about buying the car after my lease, so they are trying to get me a figure for like 30 minutes. I have NO idea why it is taking so long. My lease was for 30,000 miles.. I only put on 7,800+ miles because after a few months I realized I would most likely end up buying this car but I still wanted to wait to see what the new A8 would like look. Well now the official photos came out I made up my mind I like the style I have MUCH better and want to keep this car for a while...
Ok so they finally get a figure. Out the door $65,000+ I am like "Uh. what?" after like 20 minutes he gets it down to a FINAL price of $63,000+" I ask 3 times what about that # on my original lease of the buy out, I could swear its much less. Used car service manager tells me many times "I do not know anything about your contract" and about how I cant get the extended warranty. So at this point im thinking, Mega road trip and plan to SOMEHOW get 30,000 miles on this car before I turn it in. No way in hell I am giving them a gift like that.. So I come home and check out my lease and my buy out says a price of 46,xxx. I call the dealer back and talk to them and they say "That's buying it from Audi"
So it seems they were trying to back my car BACK from Audi, then reselling it to me. I just got off the phone with Audi. My total price will be $47,537.12 + tax. That is a FAR CRY from $65,000.00
I talked with the Audi person and they were telling me how even when Audi sells it back to the dealer they sell it higher than they would to me. So I would have paid more there + whatever the dealer felt like charging.. Coming to around $18,000 more. Nice. After I have leased 2 cars there, and they knew my dad might buy a A6 there and I was thinking about buying a S4 for a winter car. GOOD THINKING GUYS, way to treat a loyal customer. Most likely not a loyal customer anymore.
Very upset with them, do not plan on giving them any business and frankly I have had issues with other Audi dealers. I may have my dad buy something else, I am tired of playing games with Audi and its dealers.
I do think a 01 S8 with 7,800 miles in as new shape is worth 47,537+tax.. Sounds like a good deal right?
Let me know if anyone else knows of dealer tricks like this.. Maybe someone will read this and have more knowledge when their lease is up, I am sure glad I made some calls.
Way to go Audi.
11-19-2002, 11:50 AM
#4
New Member
Join Date: May 2002
Posts: 281
Likes: 0
Received 0 Likes
on
0 Posts
Re: Dealer S8 lease tricks? Or am I just missing something?
I am not certain how or what your Dealer is thinking, yet having your Attorney give them a friendly jingle might remind them "tis the season to be jolly". It sounds ludricrous at best, they will have to honor your contract, or they may end up giving you an early Xmas present via the courts! I am not sure what certain Audi dealers are thinking, or their business plan calls for, yet if there is one thing I can say that is positive about CA, is that the Audi dealers KISS YOUR **** here.
11-19-2002, 12:01 PM
#5
New Member
Join Date: Jul 2001
Posts: 269
Likes: 0
Received 0 Likes
on
0 Posts
I know he wrote Jan2003, but...
...I"m a skeptic when I hear things like this. I'm not saying Matt is fabricating anything, just would like to see this really happen. I, too, agree that it would be a great deal.
What has me really curious, why would Audi sell it to a consumer for $47K, and not back to the dealer at something higher (despite what the dealer would add on for their profit)? They are in the business to make money too, or are S8 sales that slow?
Keep in mind, your residual at the time you signed your lease was based on 30000 miles. The fact that you have only 8000 (or close to that at end of lease) makes the car worth $5000-6000 more (retail).
If you can really get the deal, do it! Good Luck!
What has me really curious, why would Audi sell it to a consumer for $47K, and not back to the dealer at something higher (despite what the dealer would add on for their profit)? They are in the business to make money too, or are S8 sales that slow?
Keep in mind, your residual at the time you signed your lease was based on 30000 miles. The fact that you have only 8000 (or close to that at end of lease) makes the car worth $5000-6000 more (retail).
If you can really get the deal, do it! Good Luck!
11-19-2002, 12:23 PM
#6
I think I understand what you are saying.
Right now, the car belongs to AoA/AFS. They gave you a residual based upon what they thought the car might be worth at the end of the lease. Bailing out of the lease early (especially if a promotional rate) is hideously expensive and costs far far more than waiting for the lease to end, and buying it directly from AoA/AFS. Even if only a few months from lease end. Stupid, but the way the system works. Dealer has no choice. They call AoA/AFS, get the current pay-off, tack on a small margin, and base the sale price on that.
I am assuming you are asking about buying the car out from AFS at the lease end, while the dealer is basing on buying out the car right now.
If you love the car, contact the leasing company. Don't speak to the people on the lower rung, but ask immediately to be bumped up the chain of command to someone who has the authority to be flexible. Often you can negotiate an even lower price rather than AFS having to deal with taking the car in, and selling it at an auction. The only time this doesn't work, is if the car is a hot item on the used car market.
I am assuming you are asking about buying the car out from AFS at the lease end, while the dealer is basing on buying out the car right now.
If you love the car, contact the leasing company. Don't speak to the people on the lower rung, but ask immediately to be bumped up the chain of command to someone who has the authority to be flexible. Often you can negotiate an even lower price rather than AFS having to deal with taking the car in, and selling it at an auction. The only time this doesn't work, is if the car is a hot item on the used car market.
11-19-2002, 12:29 PM
#7
New Member
Thread Starter
Join Date: Sep 2000
Posts: 28
Likes: 0
Received 0 Likes
on
0 Posts
Re: Are you saying you CAN buy it for $47K?
I spoke with them again, they did not even ask the miles. My lease is up Jan 12th 2003 off a 2 year lease and she said she is mailing out the paper work for me to sign and mail back with a check. Total price of $47,537.12 plus I think I have to pay taxes. Car does not have to be inspected or anything like that either.
Not even sure how that works, I will have to read over the paperwork when I get it in a few days I would assume. + I don't pay my last 2 lease payments.. So this sounds like an outstanding deal to me. Still have 2 years left on the 4 year warranty too. I don't really see a downside or ANYTHING buying it from the dealer could offer me over it, except a half assed attempt to detail it when I pick it up. =)
Any other thoughts?
Not even sure how that works, I will have to read over the paperwork when I get it in a few days I would assume. + I don't pay my last 2 lease payments.. So this sounds like an outstanding deal to me. Still have 2 years left on the 4 year warranty too. I don't really see a downside or ANYTHING buying it from the dealer could offer me over it, except a half assed attempt to detail it when I pick it up. =)
Any other thoughts?
Trending Topics
11-19-2002, 01:04 PM
#9
New Member
Thread Starter
Join Date: Sep 2000
Posts: 28
Likes: 0
Received 0 Likes
on
0 Posts
Re: Sounds great, how much were your lease payments?
My payments for 2 years were 1,480.00 but I put around 15k down at signing. Because of my age they wouldnt let me lease it any other way(21 at time)
11-19-2002, 01:22 PM
#10
AudiWorld Super User
Join Date: Jun 2002
Posts: 8,428
Likes: 0
Received 0 Likes
on
0 Posts
15,000 + (1480x24) is 50,520+47000=alot of green
Matt,
thats almost $50,520 dollars (15K+1480x24). is that right?
And now your buying the car for $47,000?
Which means your out of pocket cost is $97,000 dollars? Or was the 15,000 put in escrow?
2001 A8L
1983 Quattro Rally car
1983 UrQ
1998 A6
thats almost $50,520 dollars (15K+1480x24). is that right?
And now your buying the car for $47,000?
Which means your out of pocket cost is $97,000 dollars? Or was the 15,000 put in escrow?
2001 A8L
1983 Quattro Rally car
1983 UrQ
1998 A6