TT NIUM

My first lease is coming to an end in August, and I'm not sure what to do. I've taken great care of my '01 225TTQC, and except for a dealer mishap with an oil change, it's been fairly problem-free. I've kept the miles low, even though I leased at 15k/yr. The residual is $21,500, but I only have 24k miles on it after 39 months. It should be worth more than that, so I wonder if I should expect the dealer to work that into a possible new lease. I have to go to something more practical now, so either back to an A4 or an Acura TL. I still have my old 96 A4 too, which I want to unload. Will they take two cars back if I stay in the family? As it is, the dealer is 80 miles away, and no competition, so they don't really have much incentive to hook me up, although they have been somewhat accomodating before.
On the other hand, the Acura dealer is closeby and the TL can be had for much less with greater features/performance/reliability in exchange for less visceral appeal and no quattro. Any advice?

TTschwing

Unfortunately lease returns and heavy depreciation have reduced values substantially...Why not take it to the Acura dealer and see what he'll give you on a trade? If it's more than your buy-out, buy the car. Less, let it go back. A Nice '01 is only gonna bring $23-24K retail....

TTinCT

right now EVERYTHING is negotiable as there are gluts of cars on most lots. Every dealer, regardless of brand is having problems moving enough inventory...so what to do>

1- Buy out the TT. If you bought your A4 there, some loyalty discounts should be applicable. My guess is that you should be able to get your car for $21.5 out the door with tax and Audi Assured. This would give you a warranty for 5/yrs and 100k miles.

2- Walk into the Acura dealer on the last day of the month and tell him what you want for both cars...he can buy out your TT lease at that point. But realize he will be dealing hard on the buying both cars.

3- See what your dealer will do on the difference with your lower mileage. Any special Audi financing for a new car, is tough to apply credits to.

Realize there are many options...its how creative you can get, and what your cash position is. Also, if you finance anything thru the bank, the dealer treats it as cash....so you can negotiate from there....

Just my nickels worth

MOBlueTT

If you like the TT, it's in Great Shape, ask is it worth 21.5 K [say YES] and keep it!

jm1fd

DO NOT DO NOT DO NOT DO NOT TELL THEM THE MILEAGE IS BELOW THE LIMITS. You should be able to work them to down around $19k, since that's about what these are bringing at auction.

It will be worth $19k or so to a dealer....that's wholesale, that's about what they can put in it.

bubba j

There's no incentive for them to give you credit on the TT as a trade in.

If you're going to keep it, they might negotiate the pay off downward, but the payoff is a "retail" price whereas trade-in value is a "wholesale" price.

You could buy the TT, and then try to sell it for more, but that's a lot of work and risk and I'm guessing that this is not your career of choice.

If you don't want the TT, for whatever reason, then it's probably time to walk away from it, then trade in the A4 on something new.

The point is that you don't own the TT. You have a lease, and getting equity out of it is going to take significant work on your part to find the buyer who values the car as much as you do.

CWK_Marin

My 2002 TT at 24,000 miles and immaculately maintained was only worth $20,500 in trade on a 3.2TT. I declined to purchase telling the dealer that if Audi does not think the TT has good resale value, then why should I want to buy another one. i very much doubt the dealer will deal on the residual value because there is a general glut on the used car market. Look at e-Bay auctions. Very few cars make their reserve prices if they sell at all. A used TT is not worth much over low blue book in today's market. Four years depreciation in a two year span is not uncommon...