Finding it hard to derive that “cash-like” value since no one seems to be able to buy it except for audi dealers.
Agreed. Six year old i3s are holding at 15-16k. But Etron will definitely be discontinued in 6 years.
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Just buy it out and shop it around, used car prices are still crazy right now. I know nothing about your car and just used a base model with 30k miles and kbb spit this out. Here’s my real world experience, my mom wants to sell her 2017 Camaro convertible, 22k miles, but average condition at best and an accident on the Carfax, kbb on it was $24k to $26k, Carmax is offering me $26500. Just buy your lease out and shop it around, or shop it around before you buy it out, even with taxes you have a good chunk of equity.
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Does Audi financial extend leases ? If so try but likely best bet is to buy it if you’re going for the same car.
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I will ask this week if Audi fs extends leases.
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Let us know if they approve.
Used 2019 Etrons are listed near $60k on various car sites. I understand you are pressed for time but 2023 etron will have somewhere near 300 mile range. My 2021 etron has been a pleasure with the rated 220 miles I can hypermile towards 260 miles. I got it during the crazy 2021 etron giveaway! $576 all in with first payment DAS.
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I am not really pressed for time. I have a couple of months on this lease plus any extension audi may give me. So I can wait the dealer out. However justt because a used etron retails for 60k doesn’t mean I can get 60k unless I buyout current lease pay taxes and then list it myself and wait a few months for the right buyer.
Can’t you buy it out yourself and sell to a company that will accept the title you receive from Audi Financial Services (e.g. My Car Auction)? No need to go to DMV and get the title in your name / pay taxes.
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Sometimes taxes are charged during buyout
I was in a similar situation with our 2019 e-tron lease which was about to expire, and I was debating whether to extend the lease or buy the car. I ended up switching it for a new 2022 model to take advantage of the following:
- Realize the $10K equity we had in the 2019 car without the hassle of selling and dealing with taxes in California
- Benefit from the $7.5K Federal and $750 CA credit that Audi is passing to customers
- Get near invoice pricing
I didn’t worry about MF/Residuals as I’m planning to buy the car using a lower interest rate from a personal line of credit, but I did have to pay the finance charge of $895 to be able to get the credits immediately.
Net net, it cost me about $5K extra to get the new 2022 model, which in my calculations, easily covers the reduced depreciation and additional warranty we’ll get with the new car.
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Did you take the equity as a check or roll it into the new lease?
Rolled it in
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I’m currently deciding whether to get rid of my 2019 e-tron as well. I have ~14 months left on the lease but currently have significant equity that I’d like to take advantage of. Would likely order a Model 3 and need to wait for a couple months before it arrives. Other alternative is to wait another year, see how much equity is left and what the market looks like then. Downside is that if I have equity in the lease, likely means prices are still elevated on whatever I’d want to get into next.
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I looked up your etron deal. Those were the good old times of 12% discount before incentives lol.
Try to find out what your equity is. Lots of people will tell you they see 2019 etrons listed for 60k but good luck getting any dealer to pay YOU 60k.
How hard have you tried?
Contacted three brokers here and four local audi dealers, one local vw dealer and vroom and carvana. So I tried a bit but certainly I know I could shop it more.
Current offers ( audi fs payoff is 46k)
Carvana - 46k
Vroom - 53k
Equity Hacker - 53.5k
Audi dealer #1 - 51.6k
Audi dealer #2 - 54k
Audi dealer #3 - 50,5 k (claiming that a 2 inch scratch on mirror housing needed 1k in repairs)
Vw dealer - 52k
I miss the good old days of attractive leases. I just looked up the equity based on some offers from third parties and it’s driving my decision. Likely I could push it up a bit given what dealers are trying to sell for, but have to assume they’ll want to make some margin.
Sold my 2019 P+ over a month ago to Autonation for $58k after negotiating, or ~$13k positive equity.
Was very fortunate to do the 2 yr lease in July 2020 for about $400/mo.