AFS lease early termination

Ask the Hackrs
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1

During the Etron GT bonanza I grabbed myself a e-tron GT and now I have to leave the country due to a work contract; I won’t be back till next year and this lease expires Feb 2025 (9 months left of $699 per month)

I reached out to AFS, they suggested to either pay all the $699x9, or ground the lease to the dealer and they’ll (AFS) try to sell the car and if the balance exceeds the payoff they’ll apply it to my $699*9. I still don’t understand how the latter works, though it is mentioned in the contract.

I need to get rid of this thing because I won’t be here during the lease maturity date; and I needed it to be done like yesterday.

I was gonna pay off all the remaining payments via AFS portal from my Moving Allowance I received. And pay the dispo fee later whenever they bill me.

  1. What’s the fastest way I can get away from this car; and which is the right way do it

  2. Can I skip the AIM inspection; the car has virtually no damage other than lower lip damage due to sloped garage entrance. The car has 600 miles (yes, six hundred only)

  3. I can’t transfer because I will be back in US, and don’t want someone to decimate my score if the transferee decides to not pay. neither am I leaving this electric gremlin in my garage alone

  4. Local DFW dealers are not giving me anything near my payoff and I’m at a $10kish underwater

  5. Before anyone DMs me no I’m not transferring

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2

Reach out to more audi/vw dealers to get a quote for them to purchase it and then compare that to your buyout. You dont want to do an early termination. If you think the $10k under youve been offered now is bad…

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3

I did and the highest I got was $97k - payoff is $112k

Thus why early termination is coming out cheaper

4

Does your lease contract stipulate what happens on an early termination when what they sell it for at auction is under the residual value? I know they say “we will sell it and if it’s worth more, we will pay you back”, but what do you get charged when it’s worth less?

5

Does that include the ~$7k in taxes the dealer wont have to pay?

6

You’re right it doesn’t but as I understood (I could be wrong), if I pay off the entire the lease amount (699*9=$6,291) don’t I complete my obligation to the bank and ground the lease

7

All amounts are pre-tax

8

You tell me. What does your contract say regarding early termination liability?

9

You don’t have a family member, close friend or someone close you can sub lease it to?

If not, prob best to pay all remaining payments and ground it. $6,200 is not so bad in the scope of things.

Count yourself lucky it was only a 12 month lease.

10

Exactly! What I thought and want to take the L for $6200, which is nothing to pay off and leave this car

I have only my sister and her insurance can’t afford this car ever- neither is she an EV person

11

Just double check your contract to make sure you’re good once you make all remaining all payments.

For example my MBFS contract clearly spells out 2 options for early termination. If I want to end the lease early I owe the lesser of options A or B:

A) total of overdue payments (if any) + official fees/taxes related to turn in + disposition fee + difference between wholesale and payoff + early termination fee 3% of current payoff

B) total of all remaining payments + official fees/taxes related to turn in + disposition fee + any excess wear and tear or excess mileage charges

12

Send me the money for all the payments and ship me the car
I’ll make sure it gets turned in when it’s due :star_struck:
Oh and the best part you can keep it in your name no need to transfer it :grin:

3 Likes
13

no can do I’m am working for you(MBS)

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14

PMed you the shipping address

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15

I early termed my etron gt - my contract stated the calc is depreciation + dispo + W/T unless the car sells for above RV @ auction (it will not).

My final bill was just the dispo, yet I had three payments left. I had zero depreciation in my lease, it was all interest.

4 Likes
16

There is no bank I am aware of that can charge you beyond the sum of your contractual obligation… the rv + sum of payments is your floor on a closed end lease unless otherwise stipulated

17

So youre saying he should check his lease contract to see what the obligation is?

18

Somebody needs to start a early termination EQS thread – I reached out and they confused me too

I think if you pay the $6k you can walk away – the other path is just headaches

19

No bc I’m talking to you, not him.

20

Well I’m not going to check his lease contract to see what it stipulates.