MaxSport730

So I got my wonderful S4 recently via a 10k mile lease and suddenly my job situation changed. So instead of driving 4 miles each way to work I'm driving 30. Its not bad, very little if any traffic but now I'm heading way north of my mileage limit. I'm thinking of going to my salesguy, a nice one, and asking what I can do about this at this point. Even if I upped it somehow to 15k a year it would be too little. It seems to me that my only option right now is to just buy the car.

Should I investigate this now? Or wait till I'm more towards the end of the lease? I'm thinking Audi will be less likely to take the car back from me early if they know I'm about to pay a huge mileage penalty.

All the deals I hear about on the forum about buying the car out before the lease is up and making some money back due to the low residual sounds great but if the mileage is high then is that even possible?

Any advice please...thanks.

StumpJumper

my advice is to buy the car at the end of the lease and either keep it yourself or sell it

DrGP

I can't guarantee this will happen for you but I have read posts where owners with excessive mileage were forgiven their extra mileage charges when they leased or bought a new Audi at lease end. If dealer buys the car to put on their lot rather than turning back to Audi , the mileage doesn't matter. Many of us, including myself have traded in their S4 rather than just giving it back. I made $6k on that deal. You can always buy the car at lease end and resell it if you want. I've done that once and put $3k in my pocket, but the transfer can be a hassle depending on what state you are in. Another thought. I leased a 2014 in Aug 13. Due to health issues and employment status, I no longer wanted to continue leasing. Back in May, I found a used 2011 S4 and traded in my leased 2014 on it. I was only $1k underwater. So if you have interest, you may be able to trade your S4 in NOW, for a 2015 ANYTHING. You can order what you want and still keep driving your current S4. But be aware, you may need to find a dealer that is interested. When I tried to get out of my lease and resell the car back to my seller dealer, they wanted nothing to do with it. leasetrader. com was totally useless. Its very hard to have someone else take over the lease of a VW /Audi car. Lots of red tape. You have lots of options an are no hurry to do anything. BTW, high mileage will negatively affect your trade in value.

Carbines

^^^^ Good info from @DrGP.

seinsmeld13

In Ontario you pay 13% tax when you buy it, Therefore 13% goes down the drain the next day as the new owner pays 13% on what you sell it for to him or her. So buyout and quick flipping will not work here.

RickFLS4

Audi will send you an offer to buy extra miles at a reduced rate about 1/2 way through the lease. However that payment will not lower residual. I'd buy the car or trade it in towards the end of the lease.

QuartzS4

If you are thinking of getting another Audi towards the end, the dealer will usually "forgive you" and will be willing to give you a new lease at a great deal.

DrGP

Didn't realize New Jersey( where the OP lives) was in Ontario! J/K. Thanks for the info from the Great White North.

superswiss

^^^ His point is still valid in most US states as well. It's not 13%, but in states where you only pay tax on the lease payment (New Jersey seems to be one of those), you'll have to pay sales tax on the buyout, which tends to eat up most of the equity you have in the car. Not a good idea to buy and flip unless you really come out ahead.

DrGP

When I sold my 2004 S4 I paid 6% PA sales tax Plus transfers(aprox $2400) . Sold the car for $2k under market value and still put $3k in my pocket. Buyer will have to pay sales tax on any car they will buy.