Purchase at end of lease
05-19-2003, 09:52 AM
#2
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Depends
Probably depends on when they wrote your lease and/or the current situation at the auction houses.
Bottom line is, you need to try and start the negotiations if you want the car. Figure out a realistic price and throw it out there, you'll know from the response whether they are in a dealing mood or not. A lot depends on whether they have residual insurance.
FWIW, Chase was more than ready to deal when my lease was up. In fact, they started it!
Bottom line is, you need to try and start the negotiations if you want the car. Figure out a realistic price and throw it out there, you'll know from the response whether they are in a dealing mood or not. A lot depends on whether they have residual insurance.
FWIW, Chase was more than ready to deal when my lease was up. In fact, they started it!
05-19-2003, 01:26 PM
#4
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A related issue...timing
I'm considering my buy-out options too.
Is it best to wait until the bitter end when they call, or to call Audi a couple months in advance?
Will they offer a buy-out or do I need to take the initiative?
I've even considered calling to see if they'd offer me a buy-out deal now...with a year remaining on the lease (because int. rates are so low). Does Audi offer automatic lease extensions at the existing terms like VW?
Is it best to wait until the bitter end when they call, or to call Audi a couple months in advance?
Will they offer a buy-out or do I need to take the initiative?
I've even considered calling to see if they'd offer me a buy-out deal now...with a year remaining on the lease (because int. rates are so low). Does Audi offer automatic lease extensions at the existing terms like VW?
05-19-2003, 02:08 PM
#5
I tried with my '99 A8 but no deal. I offered a 'market' price based on input from the dealer..
but VW Credit wanted the full residual. The car was sold at auction in Toronto, an approx. 4,000 Km trip from where I live, for about $10,000 less than the residual and also much less than I offered which was about $3,000 less than residual. Maybe you will have more luck in the States but in dealing with our friends at VW Credit I had no luck.
05-19-2003, 03:16 PM
#6
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I can't think of any reason not to call now, except....
they will want the full total of remaining lease payment plus the contract residual. I doubt they would be willing to dicker a year before lease-end, but still, there's nothing to lose by calling.
05-19-2003, 03:20 PM
#7
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Maybe you can work an arrangement with your dealer.
Seems to me I heard about this - offer your dealer (or one who will go to the auction where it will be sold) a market price if he'll buy it at auction for you and maybe even Audi assure it for you. The trick is to find out where it will be sold.
Keep us posted, please!
Keep us posted, please!
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05-19-2003, 03:25 PM
#8
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Audi Financial said NO NEGOTIATIONS with 6 month to go
I called---they said NO WAY. Pay the residual or turn it in....
Schmucks.....Let them eat it, and I'll take a new one at 2/3rds the price per month....
Schmucks.....Let them eat it, and I'll take a new one at 2/3rds the price per month....
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