Current mileage: 2,600
Maturity mileage: 15,000
Effective miles per month: 688
Maturity date: Oct 2026 (18 months remaining)
MSD due (if any): 0
Cash due (if any): 3500
Incentive for new lessee (if any):
New lessee responsible for transfer fee, transport (if not picking up) and full payment of remaining lease due at time of transfer. $3500 down to match what I put down including reg, title fees. Deposit amount to be decided but likely $3500 to cover any excessive damage or wear at time of lease return (held in escrow account).
Financial institution: Audi Financial Services
Transfer fee: Paid by Buyer
Out-of-state transfer allowed (yes/no): Yes
Vehicle condition (accidents, tire wear, etc.), options, and other details:
For a transferee, this deal is way too risky. Where is the “one-pay” money going to, the OP? What if he stops paying? Or what if the car is totaled?
It seems to me that because Audi keeps the transferor liable, the transferor here is asking for a transferee to send the remaining monthly payments into an escrow account in one lump sum, which is to be remitted to Audi FS monthly. The $3,500 goes directly to transferor. Transferee takes the car as normal
It’s actually a pretty fair arrangement given the circumstances, in my opinion. If the transferee defaults, it ruins the transferor’s credit, leading 99.9% of people with Audi (and nissan, etc) leases to not transfer due to the risk. The escrow eliminates that risk
I am unfortunately ultimate responsible for the lease payments. I will put it in an escrow account to draw every month or just pay it ahead of time - whatever the lessee wants.
If I had no intention of paying this lease, I would just keep the car and default on the payments while getting to drive it. It makes no sense for me to give someone else the car while being responsible for the payments and defaulting…
I am getting rid of this car (still on the fence) because I can’t have 4 cars according to my wife and a new truck is coming.
