Steallife904

I posted this in the s3 area but maybe it makes more sense to post here.

Not sure if this is the right place for this but needed help with a question. Can you trade in a Audi lease to another brand car dealership? For background I have a 2015 s3 that I do love but my wife and I had a baby and have discovered the s3 just isn't great for the baby. Our stroller will not fit in trunk, the passenger seat has to move all the way forward to put in the car seat. We have pretty much stopped driving my car. I only drive to work, only has 22600 miles on it (got it December 2014). My lease is up beginning of next year. I was wondering if I can actually trade the car in to get something else that's not an Audi. Nothing against audi it's just I think I want to switch to something bigger like a truck so thinking about the new Chevy Colorado zr2. How would it work if I traded in to Chevy? Or is it impossible or a bad idea and just wait to trade car back in?

SCarGuy

Yes, you can - they will buy out the remaining lease payments

But, doing it at Audi can sometimes net you the best deal - best bet, check out various vehicles, decide what you love, and then discuss the trade portion

Or, you can go to swap a lease, and people there will take over payments

Steallife904

Ok, I have just been told by a few people that Audi made it very difficult to trade in one of there leases with another brand compared to other car brands. Would it be a bad idea to reach out to chevy know and let them know about my lease situation and see what they say. Have already talked to them once before to see if they had one of the new ZR2s and was told one is in transit, no other communication after that.

Im know trading it back with Audi would be the best bet, they have actually called me multiple times already about bring car back and getting something else with no money down even swap but I just don't want another car. Really set on switching to a truck. A truck just makes more sense for my family now.

I may look into the swap lease thing if it came down to it.

SCarGuy

If you know you want that truck, I would go to the dealer, try and find one in their inventory you want, and yes, discuss getting you out of the lease from there.

Audi really doesn't care, one way or the other, someone is making the payments. I deal with AFS daily, but even personally with my own transactions, I have found them extremely easy to work with

uberwgn

Problem is, the outstanding amount vs the car's FMV.


The outstanding amount = Residual value (printed on the lease contract) + all remaining payments due to Audi


GM often has rebates on their vehicles that are big enough to swallow a house. That's what you need to find, Steal.

SCarGuy

Yep, precisely.

Some cars are so over inflated, that they can do HUGE discounts to bring it back down to where they realistically sell. Audi's aren't those cars, but GM's definitely are. Gives you a good opportunity to get out of your current situation without much, if any, rollover

uberwgn

Yeah, I think a GM or Ford dealership are the only places where there's even a slight chance of that working out.

SCarGuy

They certainly do have the most fluff built in, absolutely. But even some of the Euro's are that way too (Merc for example) - not nearly to the extent of a GM< but far greater than people usually realize

Steallife904

Also wondering, to come up with my buyout price.... is it the residual + the amount of the remaining payments OR residual + reaming payments - the tax? Meaning if the dealership is buying my lease is the leasing company also making them pay the tax??? Have heard 2 different things regarding this. I tried to call to get my buyout over the weekend but kept getting on hold and gave up for now. I will call again this week but just trying to work numbers out myself right now to see if it will work out. Thank you all.

Also has anyone ever traded in a lease for another car like I am trying to do?

SCarGuy

what tax are you referring to? If you're in a state with sales tax, that is part of your current lease payment to AFS