Trading in lease early

I’m on my 4th Audi, and while I love them, I want a change.

I have 7 months left on my lease.

For the brands that offer to pay 3 months or 6 months of remaining lease payments, is that if you get into another car of the same make? Or, does that apply to competitive/conquest scenarios, too?

Meaning, if MB was offering to pay 3/6 months of lease payments for early trade in, would they honor that with my Audi? Or, does it only apply if I was leasing a MB already?

I’m upside down on my Audi (first time ever… annoying since I got ~16% off MSRP), and trying to figure out a way to get rid of it without taking too much of it on the chin.

Thanks!!

99% of the time, it’s the same make only. Volvo RARELY does conquest offers like this and DOES NOT have one now. Get a quote from Carmax, Vroom, Carvana, etc How do I assess negative/positive equity in my current car?

If you are upside down in your Audi at this point, it has more to do with your residual, not a good discount when you started the lease.

Any compelling reason to get out of your lease early? Going over on miles, needing tires or an expensive service?

How far upside down are you? Did you check the manufacturers that offer the cars you’d be interested in if they have competitive lease pull ahead?

Good to know. Thanks.

I went back to my Audi dealer and they offered me $30k for trade in value. I’ve leased/purchased 6 cars from them, and always deal with same person… so I know that’s close to the most they can give me. I could squeeze another $1k maybe, without them dipping into their discount off the car.

My payoff is $34,600.

My thought was even if the residual took a crap, the initial discount would help offset that artificial residual the bank set initially. That didn’t prove accurate, unfortunately.

It’s a mix of wanting to get into something different, plus trying to avoid tires ($1,100), disposition ($500?), and about $1,000 in miles overage.

For the last 4 cars, I’ve been able get out of leases early, since the trade in value exceeded my payoff amount. Not so fortunate this time around.

My Audi salesperson offered me $30k trade in, and my payoff off is $34,600. I’ll need to check with Carmax.

I checked with MB earlier in the year, and they said 3 months worth of payments they would pay, but not sure that was for another make. I’ll check again.

Thanks! Certainly open to any ideas you all may have.

Try CarVana, they will offer more

Question is your last 7 months = $4,600 or is it less?

If it’s less then keep it. If it’s more than post it on Swapalease or here and dump it with a heavy incentive.

I’m in a similar situation on my Jeep 2015 lease expiring in March – over mileage, don’t want to pay for new tires.

I’ve read that CarMax often makes the best offer, but don’t have a location near me – maybe you do?

I did submit my info into Vroom and got the best offer I’ve received so far (but still need to understand how their offer handles the remaining lease payments & mile overage).

Finally, I reached out to a few local dealerships that sell Jeep and a few have expressed interest in seeing the car – but will see if their offers are worth the extra miles driving to them!

Good luck!

Just be weary of dealers that have their own “pull ahead” programs. It’s really just rolling your remaining payments into your new lease at essentially 0% interest.

Many manufactures have official pull ahead programs if you lease again for their own brand.

Currently there are no pull ahead programs for a competing brand.

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The residual didn’t take a crap- it was what it was. As it turns out, it was high. Let’s say for argument’s sake your residual was $30K. As you get close to the end of your lease, you’re ending up with a payoff of $30K. It doesn’t matter too much if you started at $50K or $60K- you’re ending up at $30K. Looking at these numbers, it looks like your residual should have been more like $26K. Had it been, you’d have a payoff now of about $30K and able to get out. But if your residual had been $26K, you would have been paying off another $4K of depreciation over the last (I assume) 36 months and your payments would have been over $100/mo higher. A higher residual = less depreciation = lower payments = a bird in the hand.

What “took a crap” was the resale value of your Audi. The residual proved too high. That’s what’s good about a lease. If the car isn’t worth the residual, it’s not your problem. But you have to go full term to make it Audi’s problem. Getting out early lets them off the hook and you pay the loss.

Are you heading for a $1,000 mileage penalty at the end of the lease? Not a big deal- you drove it more than you agreed to and more miles affects the value. If you were to owe $1,000 if you turned it in now, than being over your miles 7 months early is a problem. You drove it way too much for whatever reason, and you need to deal with it somehow.

Did you confirm the payoff of $34,600 includes no tax? Did you check with Carvana or Vroom? Did you read the FAQ BoardWalkNJ posted?