Is it expensive to end a lease early (to trade up into another Audi)?
#1
AudiWorld Member
Thread Starter
Is it expensive to end a lease early (to trade up into another Audi)?
My brother wants to end his 39 month lease after 30 months and get a new 2.7T. Will AFS do this without charging him an arm and a leg? Thanks.
Harinder
Harinder
#3
Re: Is it expensive to end a lease early (to trade up into another Audi)?
I just closed the very same deal today! In my case, and with the current incentives, it was VERY reasonable. I had 7 remaining payments on my 2.8 with a buyout at $27k and the car is perfect. My new 2.7T six speed w/Luxury/Preferred/Cold Weather and Bose requires $4300 down and $485 a month for 39 months at 12k/year. Considering the $3100 I have left on the '99, it was a no brainer!
#5
Do I understand this correctly?
You paid off the $3100 balance on your 2.8 lease and paid $4300 to start a lease on the new one? Or did they let you off the hook on the $3100?
#7
Re: Is it expensive to end a lease early
It depends on your payoff on the lease and the value of the car. If you are "upside down" on the lease, where you owe more than the car is worth, then you will lose this money when you terminate the lease. Call your finance company to find out what the payoff is, and check around to see what the trade-in or current value of your car is. Perhaps you can sell it yourself to make a little more. I have done this a couple of times. I keep my cars mint, and usually make money at the end of the lease by selling it myself and paying off the lease.
By the way, contrary to our instincts, it is best to pay NOTHING down on a lease, and make higher payments. If you take the down payment money and pay off credit card debt you can come out well ahead since the interest rate is a LOT lower than credit cards. Just don't charge them up again!
By the way, contrary to our instincts, it is best to pay NOTHING down on a lease, and make higher payments. If you take the down payment money and pay off credit card debt you can come out well ahead since the interest rate is a LOT lower than credit cards. Just don't charge them up again!
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