bellbound

I bought my 2011 2.0 Q5 by putting $20k down and financing the rest over 5-yrs. It only has around 19,000 miles on it, and I'm thinking of selling it. I've never financed a car before so I am unclear on what is involved with selling the car to a private party since Audi still owns it. Can anyone please give me an idea as to how this works?

Thanks.

AudiQ5sleeper

if you selling it and your still financing it. You will need the buyer to pay all then you would have to pay your finance company off to get the title to switch over to the new buyer.

mrrun2fast

I would payoff the car and you'll get the title from the bank. When you sell the car, it will be a lot easier process when you sell and transfer the car.

spinfunky

Echo the statements. I obviously don't know your situation but be careful. This can mean a lot of complication and capital loss.

Good Luck.

dsackman

I had a great experience with CarMax. They offered me $31,000 for a 2011 Q5 2.0T P+ without nav and 38,000 miles. That was about the same as what KBB stated the car was worth on a private sell. I still owed money on the vehicle.

I got the CarMax appraisal, accepted it and walked out with a check for the difference between the pay-off amount and what they offered about 1 hour later. They handled all the other stuff such as transfers, pay-off amounts, etc.

Extremely painless experience that exceeded my expectations.


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mrrun2fast

How much did you pay for it? That's awesome. I wish we had one near here.

dsackman

If I remember correctly I paid around $42,000 for the car originally. Close to invoice.

I paid invoice for the new 3.0T. It has all the trimmings.

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georgehf

Just curious, what the dealer offer you for the '11 Q5?

I sold my Cherokee (for pennies) at CarMax when I bought my Q. The experience was painless - other than having to say goodbye to her after 14 great years.

dsackman

The dealer assessor offered $25k for the '11 Q5 2.0t with 38k miles and the sales person actually suggested I go to Carmax.


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Gqinxs

Arent there tax benefits to trading in with dealer you should take into account also?