sabarron15

Hey guys,

My parents own a 2015 Audi Q5 2.0T, it has 116,000 miles and they owe ~$14,000. In 2019 the oil consumption issue was addressed and they rebuilt the engine, replaced the pistons. They have kept up with the service on it & the previous owner did as well. Do you guys think it would be worth to take over the remainder of their lease? I mostly drive inner city/suburb so I would imagine I would not put more than 10,000 miles a year. Let me know! Thanks

SCarGuy

how are they still leasing a 2015 vehicle?

sabarron15

Sorry I meant to say they are financing it, their loan is $14,000. They had it for about 3 years now

SCarGuy

all depends on what their interest rate is, etc. It is likely worth a touch more than their current loan balance

sabarron15

So I checked with them, their monthly payments are about $442.04 with a 2% interest so assuming I keep the payments as is, it'd be around 2 1/2 years until it gets paid off.

SCarGuy

good rate, so you're good there. If you have some money saved up that you were going to use for a car anyway, may want to send over a bit of it to bring the principal down off the bat. The used car values are high now, but, the bubble won't last forever, and in that time, your new to you Q5 will accumulate miles, etc. Best to get equity in the short term imho. You could just leave it in your name and pay the bank directly. Or, they can sell it to you, but then you'll need financing, pay sales tax, etc.

Enjoy!

sabarron15

Appreciate it, mileage is somewhat high so want to get a good deal