Lease question: will CarMax's buyout price be higher than my buyout price?
#11
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Actually, I'd be happy to break even, as I owe Audi $960 for wear and tear, according to the inspection report.
#12
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I see. Well, they'll most likely pass those $960 on to CarMax then. I updated my post above and said the best option would be to find a private buyer who is willing to pay more.
#13
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Sigh. That is the best option, but one that I'm just too lazy to pursue. And actually, regarding the $960 in Audi's definition of wear and tear, that's already accounted for in the CarMax appraisal (they didn't care about it at all!), so I'm good there.
#14
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Just curious, but what are you getting next? I've heard that wear and tear is something that often gets waved/eaten by a dealership if they can get you into another Audi.
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Yeah, I also heard Audi could be pretty forgiving if you're getting into another one. I will likely be getting a Volkswagen GTI so I'm not sure if that would count, but that won't be for probably a year or longer as it is the wife's turn to get a new car and I will take over her 2006 Toyota Camry. And. I. Will. Be. Happy. About. It!!!!
#16
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Yeah, I also heard Audi could be pretty forgiving if you're getting into another one. I will likely be getting a Volkswagen GTI so I'm not sure if that would count, but that won't be for probably a year or longer as it is the wife's turn to get a new car and I will take over her 2006 Toyota Camry. And. I. Will. Be. Happy. About. It!!!!
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#18
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If you trade in your car in the last 6 months of your lease, AFS and VW Credit will require that anyone other than a VAG dealer or the lessee pay retail price to buy the car. Not happening. But a VW or Audi dealer can actually buy the car for a few hundred dollars LESS than your payoff at any time prior to lease end. I think you may be confused. So the appraiser says you owe $960 to return your car from lease. That has nothing to do with the actual trade in value of the car. If you trade in the car before the lease is over and trade in value is greater than the wholesale value or pay off price of the car, you still have equity and can use the equity it to trade your car in on a Volkswagen or Audi. You will not owe $960 because you are not returning the car at lease end. You are trading it in not turning it in before lease end. which is your option . You probably have equity which you will not only lose if your turn the car in but will be subject to the wear and tear clause. Pus dealers know that these cars are not plentiful and are in good demand. Your car is more valuable to them than it is to the leasing company. They make more profit selling a used car than on most new Your car has really low mileage,and that is really important to a dealer and probably means you have quite a bit of equity. Pleas don't throw that money away. Trade it before lease end.
Last edited by DrGP; 11-29-2017 at 01:25 PM.
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