Have a 2019 SQ5 with a lease due to end on Jan 30. Would like to sell it ASAP. Grey with black interior, Premium Plus and 24k miles
Are you trying to sell it to a private party? If so, you’ll need to buy the lease first.
It was a one pay lease, no payments left.
Are you still on a lease contract? Just because you did a one pay doesn’t mean you can sell it. You’ll need to buy out the rest of the vehicle so that it’s yours first.
Go to the AFS portal and get your payoff quote. You can buy the car and resell it at your leisure, or you can sell it back to an Audi dealer. Selling it as a lease to non Audi dealers or private parties will be at a higher buyout and therefor less/not profitable for you.
There’s no selling to a private party at all.
How does it work if I say, sell it to Vroom?
It’s tagged as MD. No tax if he buys out, has that going for them.
Vroom doesn’t buy any leases
RODO is buying out Audi leases via their dealer network since that’s where everyone is dumping their etrons. Get a quote from them.
Is RODO doing it or is the dealer advertised on RODO doing it?
RODO is doing it directly… they have been buying cars for the past couple of months and assume they use their dealer network to actually buy the cars to get around the 3rd party restriction.
For the folks saying you can’t sell to a PP… I had a BMW lease last year with this issue and I found someone willing to write a check over to BMWFS for the payoff, which was more favorable than the dealer payoff by $2500, and then I walked into DMV and signed title over to him. Not every buyer will be willing to do this as it requires a good contract and some trust, but it is possible.
The payoff surely included the sales tax owed by you?
So if he got double taxed in the end what was the point?
Plus someone from FS must have dropped the ball to cash a check from a private third party.
Agreed. Payoff includes sales tax and then you have to pay tax to transfer title. Sure you can draw up some fraudulent bill of sale that makes the sales price look lower than it is to reduce tax liability but that is a pretty marginal tax savings. Most states have a floor of what you can say the sales price is in a private transaction to prevent fraud.
Not sure this is an issue. What’s the difference if lessee gets loan from Bank of America or Joe Smith to buy out lease. FS is cashing check from a third party regardless. What matters is title goes to lessee and sales tax is paid.
Nope. In California, DMV collects the tax — not FS. In our state, if you sell the car within 10 days of purchasing it from the leasing company, I don’t pay any sales tax. The ultimate buyer does, when he goes to DMV to register the car. In this case, he paid it on the spot at a AAA branch when I signed over the title to him.
And nobody at FS dropped the ball — they don’t care who pays off the car.
Does anyone know if an auto nation can buy a leased Audi as an Audi dealership? I contacted two Autonation dealerships and one says that since they have Audi dealerships in their network they get the payoff as an Audi dealer rather than a 3rd party dealership, while the other says that they get the 3rd party payoff.
That’s not always the case. Many times, the FS will collect the sales tax on the behalf of the DMV.
That’s not true as well. If it was, then why can’t any 3rd party dealer buyout the lease?
Yes. Although I had to go to the actual AN Audi dealer a few hours away as the local AN dealers were unwilling to coordinate the purchase through their sister store. If you have an AN dealer willing to handle the back end coordination, you should be able to get the Audi dealer payoff price.