A4 Current Lease 7 months remaining not sure what to do

[W123123]

Hi all, I’ve learned a lot from reading these forums and was looking for a little advice.

Currently lease an Audi A4 with 7 months remaining ($700 per month peak covid times not ideal). I have 43k miles, lease is 15k per year so I’m closing in on that limit.

Since Audi Financial charges a higher fee for other companies to purchase the lease out (I went to Chevy who wanted $3500 down and $680 per month for a Traverse) I reached back out to Audi and asked about a generic Q3.

I was give the price to lease (them taking back my current lease and it’s payments)a Q3 for 10K miles $762 per month. I feel that this is a horrible price and will not pay that for that model.

Current buyout quote:

Residual $19,425
Future payments $4900
Payoff amount: $26,000

I would prefer to not wait 7 months while counting every mile and would ideally get out of this lease and into another car but with my value being upside down this is difficult. Am I SOL or is there something suggested that would make sense?

Thank you!

[mllcb42]

First step would be getting some buyout offers just to see how much negative equity you actually have.

[jeisensc]

@mllcb42

First step would be getting some buyout offers

List of places to sell or value your car online

For the quickest results: Copy your VIN to your clipboard and just paste it into each site. Quicker than plate lookup. Enter “I own the vehicle” where applicable — you don’t need to get into the details of your lease payoff or loan balance until you’ve eventually chosen one entity to sell to. Use a Google Voice or some other device you can turn off at will. Otherwise your real phone will be bombarded initially. In alphabetical order: Buyer Name Direct Link Review Link AutoCo…

@W123123

Residual $19,425
Future payments $4900
Payoff amount: $26,000

I would prefer to not wait 7 months while counting every mile

@W123123 do all the math:

• what’s the over mile fee?
• What’s the likely total miles at disposition and that total cost?
• how much did you pay when you signed to get into this lease?

Whether or not you might owe at the end, you’ve already prepaid some of that utility, so take a full inventory before ejecting.

[trism]

@W123123

I would prefer to not wait 7 months while counting every mile

For perspective, the overage miles aren’t that expensive ($0.20?), so even if you use up all of the prepaid miles AND go over by 1,000 miles a month you’re looking at 7,000 * 0.2 = $1,400.

Double check your contract for the per-mile charge and redo the calculation with the actual number of miles you think you’ll use, and I’m betting it’ll pale in comparison to what it’ll cost you to get out early.

When does the warranty expire?

[anamnesis111]

Honestly, like Trism said, paying for the over mileage isn’t that expensive. It is probably your cheapest option. Plus, I think Audi has a 3-month pull ahead program so you might only be stuck with it for another 4 months.

[W123123]

.25 per
Out of 48,750 allowed I’ll barely be over
I put 0 down on this

I think with all of this I am in OK shape to ride this one out then start my search in a few months for a new vehicle. My lease being 39 months allots me a few more miles to spare.

Seems like it’s not a dire situation to get out plus I don’t want to be forced into a vehicle w/Audi if it’s not the price I’m looking to spend.

Thanks all!

[max_g]

@W123123

I don’t want to be forced into a vehicle w/Audi if it’s not the price I’m looking to spend.

agree

Especially when so many of Audi’s deals are subpar