bravo659

HI question on my 2015 Audi A8. I leased this vehicle for the first time. I have the leased vehicle for 2 + years and only have 8 more payments.
Like to know at lease end or earlier can i trade-in the current lease into a new lease?
What is the procedure on that. Do i get the trade-in value amount that will reduce my monthly payments?
Another words if the trade-in value is 41,000 and my new car price 95,000.
do i take the 95,000 - 41,000 = 54,000 and use the equity of the vehicle as a down payment and the incentives and rebates if any?
Thanks I like to hear from you guys.

uberwgn

^^^This looks like new math to me.

Are you going to buy out the current lease at lease-end? If you don't buy the car out at lease-end, you have nothing. You leased a car for a quoted period, and then you'll turn it in, end of discussion.

Has someone told you the residual value (your buyout value) is less than the car's future fair market value?

If you do have some equity, the dealers aren't terribly helpful in carving that money out and permitting you to use it. Some are successful at it, others not so much so.

Puzz1

Agree, you don't "own" that $41000 trade in because you leased the car. One option, albeit more complicated is to compare your buyout against market trade in. If it's substantially less, then you can buy out and trade it to CarMax and walk away with a check. Then go make your deal on a new car. But if the new car is another lease you don't want to put those proceeds down - just inception costs.

derfA8L

First rule of leasing: Never, ever, put any money down as a cap cost reducer. If the leased vehicle is in an accident and totaled, then the leasing company (being the actual vehicle owner) is paid off by your insurance — BUT YOU LOSE ANY CASH DOWNPAYMENT YOU INVESTED IN THE CAR. As Puzz stated, if you do buy out your current car at lease end and then subsequently sell it for cash, save or invest that cash in something that brings you a positive return on your investment, which is definitely not putting that cash into a new lease.

bravo659

Thanks for your thoughts I appreciate your feedback.
I may stay with my current A8.

stanigu

What you should do depends entirely on the market value of the car at lease end.

I leased an 2011 A4, 3 year lease. I actually went over the mileage limit and was looking at paying over $1K in penalty, if I turned it in.

Luckily, the market value (as determined by Auto Trader, eBay, KBB, etc.) exceeded the buyout by about $3K. So I bought the car out, and sold it to an individual for my full asking price (the car was pristine).

Net difference of turning it in vs. selling was $4K. I'd say it was worth the effort.

uberwgn

Yeah, if it's been a good car, it could be worth keeping.

Something others have done:

• Turn the car back into the dealer at lease-end
• Have them CPO the car for you, if possible
• Buy the car back from them at a pre-agreed upon price
• Drive on !

LexusLSguy

Audi's don't lease too well from what many have said. Do you actually know your buyout is vs market value? If you do have "equity" through the buyout and you want to move to something else non Audi you can pay cash and then turn around and sell. Probably the only way to make out in the positive.

bravo659

Hi thanks for your input on this lease end.
So if i turn in my current lease then get a new lease i still have to pay due at signing?
Thanks.

Fez2013

I tried to turn in my Infiniti lease early but basically, I was still on the hook for the remaining payments. So in my case, they were trying to add the remaining 8 months on the new lease to make up for the payments. I am just going to keep the car until the lease ends and re-lease something else. I think if you try to turn in the lease early, you would still have to pay up the remaining payments.