Just got FVCKED big time By Audi Financial Services
#11
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Join Date: Aug 2000
Location: Tampa Bay FL
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Something is wrong with what they told you
Normally lease payoffs are good for a perio dof days, 10 days is pretty normal.
Your lease agreement has to be clear on what you owe if you choose to buy the car off lease, prior to maturity. Normally this includes:
Your stated residual value +
The amount of all remaining payments +
EITHER a prepayment fee of some fixed amount
OR a percentage charge on all remaining payments (2-7% is normal)+
Sales tax on the residual value + remaining payments.
You have two very different numbers and my guess is someone screwed up on one or both of the quotes. If your stated residual is $25.9 and its maturity date is two months away (i'll assume your lease payment is $600/month), then your buyout before tax and prepayment charges is $27.1. 7% on $1200 is $84. Assume sales tax is 7% on $27.1 is $1897. So, $27,100 + $84 + $1897 = is $29,081.
I don't know your sales tax rate or your prepayment charges, so that could change my estimate. But, I doubt it is $32000+.
Your lease agreement has to be clear on what you owe if you choose to buy the car off lease, prior to maturity. Normally this includes:
Your stated residual value +
The amount of all remaining payments +
EITHER a prepayment fee of some fixed amount
OR a percentage charge on all remaining payments (2-7% is normal)+
Sales tax on the residual value + remaining payments.
You have two very different numbers and my guess is someone screwed up on one or both of the quotes. If your stated residual is $25.9 and its maturity date is two months away (i'll assume your lease payment is $600/month), then your buyout before tax and prepayment charges is $27.1. 7% on $1200 is $84. Assume sales tax is 7% on $27.1 is $1897. So, $27,100 + $84 + $1897 = is $29,081.
I don't know your sales tax rate or your prepayment charges, so that could change my estimate. But, I doubt it is $32000+.
#12
Banned
Thread Starter
What most don't realise is that even though I can buy it for the residual
plus any outstanding lease payments, AFS won't sell it to a third party for that price.
#13
Spoke to Audi Financial !!!!
Just got off with Audi Financial.
DRGP you need to call again. I asked the question several times and different ways. There is no dif between dealer and 3rd party. And Audi, at least in Calif, if you have secured a 3rd party to buy your car they will not charge you the sales tax up front. It will be up to you to transfer the car within 10 days. If you do it within 10 days the 3rd party is the only party that has to pay tax...... If not you have to pay and then who ever buys it would also have to pay.
The only time the buyout for the dealer is higher than for the leasee (you) is when you have a security deposit. Audi is going to refund it to you directly and not lower the buyout for the dealer.
Hope that Helps
David :-)
DRGP you need to call again. I asked the question several times and different ways. There is no dif between dealer and 3rd party. And Audi, at least in Calif, if you have secured a 3rd party to buy your car they will not charge you the sales tax up front. It will be up to you to transfer the car within 10 days. If you do it within 10 days the 3rd party is the only party that has to pay tax...... If not you have to pay and then who ever buys it would also have to pay.
The only time the buyout for the dealer is higher than for the leasee (you) is when you have a security deposit. Audi is going to refund it to you directly and not lower the buyout for the dealer.
Hope that Helps
David :-)
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