Lease Turn In / Buyout Questions...
Thread Starter
Senior Member
Joined: Apr 2006
Posts: 491
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From: Hotlanta
'00 CLK430 & '08 Lexus RX 350
Lease Turn In / Buyout Questions...
Ladies and Gentlemen,
I'm positing this topic in our W208 forum b/c I've come to know a few of you and overall I value your opinions on a wide variety of topics. It's our first lease so I am doing whatever research I can to assure we do the right thing......so, we need your advise.
My wife and I are leasing a 2007 Audi A4 2.0T. End of lease is 08/01/2010.
The car is loaded (every option avail except navigation & S-Type Pkg Appearance Pkg.) and is several (roughly 13K) miles under our lease allowance.
Looking at fair market value which is significantly more than the residual on the lease (approx. $4500 more), I believe we may be in a good spot. We are looking to possibly sell it, take the difference between the FMV and the residual and use that as a down payment on another vehicle. Or possibly negotiating the buyout down even further, buying it from Audi Financial then selling it for the FMV or as close as we can for a greater windfall.
Would love your thoughts and input! Below are all the details and info from the sticker.
Thank you all for your knowledge!
- MMM430
Here are the vitals:
2007 Audi A4 2.0T
Condition: Minor scratch on trunk lid. Excellent condition inside/out and mechanically. Garaged. Non Smoker. Very Clean. Scheduled service only by Audi dealership.
Lease ends Aug 01, 2010
Mileage Allowance: 12,000 / yr.
Mileage at delivery: 1000
Current Mileage: 24,343
Sticker Price: $34,485
Residual / Purchase Option: $18,621.90
Vehicle Options: This vehicle is equipped with every option available w/ exception of navigation & S-Type Pkg. Does have the nicer 18" Double spoke rims. The list below is an accurate list of all options included!
Optional Packages
Audio Pkg
$1,000
Cold Weather Pkg
$775
Convenience Pkg
$2,100
Premium Pkg
$800
I'm positing this topic in our W208 forum b/c I've come to know a few of you and overall I value your opinions on a wide variety of topics. It's our first lease so I am doing whatever research I can to assure we do the right thing......so, we need your advise.
My wife and I are leasing a 2007 Audi A4 2.0T. End of lease is 08/01/2010.
The car is loaded (every option avail except navigation & S-Type Pkg Appearance Pkg.) and is several (roughly 13K) miles under our lease allowance.
Looking at fair market value which is significantly more than the residual on the lease (approx. $4500 more), I believe we may be in a good spot. We are looking to possibly sell it, take the difference between the FMV and the residual and use that as a down payment on another vehicle. Or possibly negotiating the buyout down even further, buying it from Audi Financial then selling it for the FMV or as close as we can for a greater windfall.
Would love your thoughts and input! Below are all the details and info from the sticker.
Thank you all for your knowledge!
- MMM430
Here are the vitals:
2007 Audi A4 2.0T
Condition: Minor scratch on trunk lid. Excellent condition inside/out and mechanically. Garaged. Non Smoker. Very Clean. Scheduled service only by Audi dealership.
Lease ends Aug 01, 2010
Mileage Allowance: 12,000 / yr.
Mileage at delivery: 1000
Current Mileage: 24,343
Sticker Price: $34,485
Residual / Purchase Option: $18,621.90
Vehicle Options: This vehicle is equipped with every option available w/ exception of navigation & S-Type Pkg. Does have the nicer 18" Double spoke rims. The list below is an accurate list of all options included!
Optional Packages
Audio Pkg
$1,000
Cold Weather Pkg
$775
Convenience Pkg
$2,100
Premium Pkg
$800
Last edited by MMM430; May 17, 2010 at 08:21 PM.
Senior Member
Joined: Jun 2006
Posts: 342
Likes: 2
Not sure if I'm "one of those valued opinions", but...I'll give you my input.
Ok...so you're saying that the FMV on the car is roughly a little over $23,000?
How would you say the market is out your way for Audis? How fast do you think you could sell it, and how long are you willing to hold on to it in order to sell it?
If it were me, I would try talking them down, buy it if a reasonable consensus can be reached. The obviously sell it or keep it depending on what you really wanted to do.
Taking into consideration how much marketing you actually want to put in to trying to sell it as quick as possible is also something to take into account.
If you don't mind me asking, what is the other car you guys are looking at getting.
Ok...so you're saying that the FMV on the car is roughly a little over $23,000?
How would you say the market is out your way for Audis? How fast do you think you could sell it, and how long are you willing to hold on to it in order to sell it?
If it were me, I would try talking them down, buy it if a reasonable consensus can be reached. The obviously sell it or keep it depending on what you really wanted to do.
Taking into consideration how much marketing you actually want to put in to trying to sell it as quick as possible is also something to take into account.
If you don't mind me asking, what is the other car you guys are looking at getting.
Thread Starter
Senior Member
Joined: Apr 2006
Posts: 491
Likes: 0
From: Hotlanta
'00 CLK430 & '08 Lexus RX 350
Thanks for your input Falls Profet. We'd like to move into a new ride ASAP. We are looking at the Q5 or pre-owned X5, ML, etc. We would like to start a fam in the next year and need a larger vehicle. The lease is up and we thought it was as good a time as ever.
Hoping I can negotiate the residual down a bit, buyout the car, then sell it for the profit we can turn around and put into the newer car. I just dont want to them any favors by handing them a gift in all the equity I believe we have in the A4. Thanks again.
Hoping I can negotiate the residual down a bit, buyout the car, then sell it for the profit we can turn around and put into the newer car. I just dont want to them any favors by handing them a gift in all the equity I believe we have in the A4. Thanks again.
