Dave335i

The dealer was offering me $23k for my 2010 Q5. Since I had 3 months until my S4 came in I decided to try and sell it myself. KBB value was just under $29k. Just sold it for $28.5k.

Only negative is I have to find a car to borrow for the next 2 months.

DrGP

Plus now you may have to pay more sales tax. Not sure how it works in your state, but in PA you would only pay the difference in the selling price and trade in value. Contact the dealer and ask if you can buy from them some low end used car to drive with some type of agreement to sell it back in two months at a predetermined price. Perhaps something thay would othwerwise take to auction.

Dave335i

The sales tax savings would have been minimal (less than $400) as I was only going to give them $8,000 down on a lease, not the whole value of the vehicle.

DrGP

PLEASE don't put down $8k on your lease. The smart thing to do is to put down as little as possible. IF your leased car is totaled early in the lease term, you will lose that money.

igord

ask the dealer that you ordered the car from to give you a loaner while you wait, probably won't be an s4 but better than taking a bus

B8 S FOR

^ Exactly! I hate hearing these situations! 8k!!

Goony

If you owned the Q5 and are leasing the S4; there was no tax advantage with this trade-in arrangement (at least in PA).

Dave335i

The advantage of putting any money down is to pay less interest. I will look at the value keeping the $8k and earning interest in the bank versus reducing the interest paid on the lease. You may be right. Thanks.

zillmc

Never put any money down on a lease, especially if the intent is to reduce monthly payments so one can afford the monthly expense.

Way too many downsides with putting money down on a lease. Crunch the numbers first!

aris4n

EXACTLY.....