(Off topic)What happens if I turn a lease in early? ie. early termination fees, over mileage fee

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Jun 3, 2003 | 07:42 PM

smovea4

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(Off topic)What happens if I turn a lease in early? ie. early termination fees, over mileage fee

Just so you know I have a 2001 A4 1.8t Quattro with 34k with 10k a year allowance. Would I do better trading it in for an older one or a different car? Selling it would be the best way out but I need to do this within the next month and that will take too long. Should I go back to the dealer where I bought it and try to see what they can do for me? Please help me I am in need of you expert help.

Jun 3, 2003 | 07:46 PM

smovea4

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oh yeah i have a 4yr lease and 23 payments/2yrs left.

Jun 3, 2003 | 08:31 PM

AudiMick

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From: Redmond WA

I think you go to dealer and prepare to bend over..

Its usually 15c a mile over plus an early termination fee of up to a third of what you owe in payments.

Jun 3, 2003 | 10:05 PM

smovea4

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so you think I would do better trading it in and take a loss that way

Jun 4, 2003 | 05:59 AM

AudiMick

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From: Redmond WA

I think you would be better off keeping it or buying it outright (no lease)

..Its complicated but you should not lease cars as your annual mileage is too high.If you turn it in and start a new lease you are going to end up paying for the same car twice as the excess mileage termination fees are just going to be added to your lease.I have seen this happen before and met someone recently who was paying $800/ month on an Explorer.If you can make the payments on your audi, put $200 extra away to cover the extra mileage or to put towards purchase if you decide to buy it.