Year, Make, Model, and Trim: 2019 Audi S5 Sportback Premium Plus
Location: NYC Metro (Westchester County, NY)
Monthly Payment: $630/month with Audi Care included
Current Mileage: 37,108
Maturity Mileage: 45,000
Effective Miles Per Month: 1,143
Maturity Date: March 12th, 2023
MSD due (if any):
Cash due (if any): $3,000
Incentive for new lessee (if any):
Financial institution: Audi Financial Services
Out-of-state transfer allowed (yes/no):
Vehicle condition (accidents, tire wear, etc.), options, and other details: Excellent condition and rear seats have never been used!
Photos: Need to add.
If the posting is accurate, you might as well keep the car… There’s what, 6-7 payments left? You’re pitching a $1,500.00+ effective payment on a $63K car with your $5500 cash due… (and you remain on the hook with Audi FS IIRC).
So what would you recommend we do?
Keep the car, or sell it to an Audi dealer.
Looks like you’re is trying to make a little money from your lease before it expires. Doubt that will work on here but you can buy your car from your dealership early, then sell it to a company like carmax hoping that they offer a little more than what your payoff would be.
And the usual obligatory note of, “you, the original lessee is/are still responsible after the transfer.” So if the transferee defaults in any way (payments, damages) and does not keep up with payments, the original lessor is still responsible. Just wanted to point that out.
Also, there are restrictions in the final 12 months.
As others said, best bet is to sell to another Audi dealer or one of those buyers that can buy it out from you, even with AFS’ restrictions (list is on LH). And might want to do it quickly, market is softening in some areas. Good luck
Cannot transfer out in the last 12months, only to family/relative at this point. Lots of equity in the S5SB! Run it by the dealer to buy you out. There is a $1400s fee tacked on nowadays by AFS when you sell FYI.
You think there’s a lot of equity in the S5SB? I’m not seeing it lol! I have only been getting offers that yield 2-3k in equity.
Several conglomerates listed here can process payments via VW/Audi dealers (lower payoff), such as Autonation, Carshop, possibly Rodo, etc.
As well as several LH brokers listed in that thread.
If you can yield 2-3k, why would you want to deal with transferring to someone else for 3k?
It’s more than pointless, it’s a risk. You’re on the hook for the car, even after transferring, and for what? No real gain vs selling to dealer
Got an Audi/Porsche dealership willing to cut me a check for $5,000. Still looking to see if I could get some more elsewhere. Hoping to take this equity and put it as a down payment towards a Jeep GC Summit Reserve!
So are you asking for $5k now? If so, update your post
After all that effort you’re just going to blow it on a GC?
Take it and run IMO. A lease assumption at this point in your contract is a non starter unless someone is banking on equity at the end of the term.
LOL! Or a Genesis GV70! Whichever I can get a better deal on.
This is the best deal I have been able to get so far on a Jeep GC Summit Reserve. 15,000 miles per year for 48 months. Thoughts? This would require a total down payment of $6,300. My equity is $5,000, so I would really only be putting down $1,300.
Um. No. If you take your $5,000 worth of equity and use it as a Capitalized Cost Reduction or “Down Payment” and your Jeep is totaled or stolen at any point during the term of your lease, you’ll never see that $5,000 again.
But other then that…do the terms look reasonable? MF? Residual? Should I be fighting for a discount off MSRP?
Lots of brokers on this forum you can order from with a decent discount. You are going into a lease agreement longer than the basic warranty. Who is the leasing company? If it is not CCAP getting out early can/will be an issue.
It won’t matter. Let’s say you magically get almost $5,000 taken off. That’s still ~$40,000 to lease a Jeep which is insanity. And leasing something as unreliable as a CJDR product for 24k miles beyond its warranty is double insanity.