Anyone know anything about trading in a leased car after only a few months?
#1
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Join Date: Apr 2000
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Anyone know anything about trading in a leased car after only a few months?
If I trade my car in on another S4, do I take a bath or will they sort of roll the lease over into the new car?
Yes, was thinking about a 6-speed and like the extra year of warranty.<p><img src="http://pictureposter.audiworld.com/AudiWorldPics/2000/carssmall4.jpg">
00 S4 tip
Silver/Onyx
GIAC ECU/tip “race” chip (14.4 in 100 degrees)
V1
Yes, was thinking about a 6-speed and like the extra year of warranty.<p><img src="http://pictureposter.audiworld.com/AudiWorldPics/2000/carssmall4.jpg">
00 S4 tip
Silver/Onyx
GIAC ECU/tip “race” chip (14.4 in 100 degrees)
V1
#2
It works just like a loan, there is a payoff amount (m)
If the payoff is above the trade in value, you're screwed, if the payoff is below the trade in value, then it's party time. Obviously, the depreciation hit in the beginning few months is huge, so it is not likely that the payoff is below the trde in value (unless you put a huge amount of money down). Good luck.
#3
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you'll probably get more if you sell it rather than trade it in...(m)
I just bought mine by buying out the seller's lease so I'm very familiar with the process.
If you're through Audi Financial call 'em at: 888-237-2834
ask them to calc your payoff package to determine the payoff amount.
Then find a buyer to work with you to pay it off.
Email me if you need more info.<p>-jeff a
'00 S4 Silver/Onyx
If you're through Audi Financial call 'em at: 888-237-2834
ask them to calc your payoff package to determine the payoff amount.
Then find a buyer to work with you to pay it off.
Email me if you need more info.<p>-jeff a
'00 S4 Silver/Onyx
#4
Not a wise idea...
I am in the car business and I see people try to do this all the time. First of all, most leases are designed so that you don't ever have any equity and you don't break even until close to lease end. Sometimes you never break even if the residual set by the bank is too high (many banks do this to get lower payments). If you try to trade in a leased vehicle a few months after leasing it, you are usually "buried" thousands of dollars meaning that your payoff is so much higher than the trade-in value of your car. The only way this would not happen is if you put a huge amount of money down to start the lease or if the dealer gave you an extraordinary trade in value (not common). Usually one takes quite a bath doing something like this. If you sell the car privately, you will get more for it, but you will be responsible for the difference between selling price and payoff to get the title for the new buyer. If you must trade the car in the dealer can "roll" over the negative equity into your new lease/purchase if your credit is good enough and you don't mind paying much more per month. Overall, I wouldn't do something like this unless you REALLY have to get another car because you will lose big time. Email me with any further questions.
#5
You will be in what's condsidered an upside down situation. Everything goes up regarding payments
Better of calling the bank and finding out what payoff is. Sell it for that amount or higher if you can. At least that wasy you start out fresh and only loose money on as many payments you have made.<p></FONT><A HREF="http://registry.audiworld.com/audi/registry/details.asp?car=5624"><IMG SRC="http://pictureposter.audiworld.com/AudiWorldPics/2000/image1-small.jpg" WIDTH=117 HEIGHT=88 BORDER=0>
#6
Having done this 3 times....
1st time was after 15 months
2nd time was after 4 months
3rd time was after 12 months
all but the last time I took a huge bath ($4000+)
I didn't on the last one due to the fact that it's trade-in value was $2,000 less than what I paid for the car<p>'01 Silver/Onyx ... everything but the phone and sport
2nd time was after 4 months
3rd time was after 12 months
all but the last time I took a huge bath ($4000+)
I didn't on the last one due to the fact that it's trade-in value was $2,000 less than what I paid for the car<p>'01 Silver/Onyx ... everything but the phone and sport
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#8
Ditto...
I have totaled a leased 99 A4 1.8TQMS. Was pleasantly surprised when my ins. comany told me that their estimated car value was $900 more than the Audi Financial buyout figure. So after the $500 deductible I got $300 back. My friend told me I could make a modest supplemental income totaling Audis. A week later the insurance company sent me a non-renewal notice, so much for that idea
But the bottom line is sell don't trade in!<p>- boris
<img src="http://www.pfcguide.com/_a4/sig.jpg">
But the bottom line is sell don't trade in!<p>- boris
<img src="http://www.pfcguide.com/_a4/sig.jpg">
#9
If I were you, I won't trade. Just find a buyer, and "sell" the payoff amount (or more)
I'm doing the same thing. I was told by a couple of friends in the car business that the best thing to do is find a buyer, and the buyer can re-lease under his/her name, or buy it off completely.
But if you TRADE it directly with the dealer, you'll have some hit(s) I imagine.
But if you TRADE it directly with the dealer, you'll have some hit(s) I imagine.
#10
email me if you decide to sell your tip chip...
<p><a href="http://registry.audiworld.com/audi/registry/details.asp?car=4098"><img SRC="http://pictureposter.audiworld.com/AudiWorldPics/2000/random151.jpg" BORDER=0></a>
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