I am currently leasing a 2018 Audi A5 P+. I got myself into this lease back in 2018 before educating myself on any lease hacking, so it’s quite bad… With it currently being high mileage, I am thinking about either buying out the car, or listing it on swapalease for a transfer to get out of it. I absolutely love the car, but am inclined to get something with more power. Does anyone have any suggestions? Any help is highly appreciated.
Here are details regarding this lease:
2018 Audi A5 Premium Plus
Options: Premium Plus Package, Navigation Package, 19” Wheel Package, Bang & Olufsen with 3D sound, Wood Inlays
36/10000
Current Mileage: 21000/30000
Lease End Date: June 2021
MSRP: $52,100.00
Lease includes: Lease-end protection of extra 500 miles + $10K worth of damages covered
Residual: $30218.00 (58%)
Down: $5000
Sales Tax: 9%
MSD: None
Audi Care: None
Monthly payment with tax: Base Payment $575/mo + 10K USD Protection Waiver at Lease End $33.42/mo = $608.42/mo
Buyout Price (as of 02/03/2020): $37,301.60
Swapalease Listing Fee: ~$200
Holy . That’s a bad deal bro. Take a fool to jump into that deal on swapalease. If you love the car just enjoy it and learn next time. You agreed to a crappy deal just learn from it
If this is the case, run, don’t walk, to verify your current dealer buyout amount from AFS (with that said, it being equal to your residual value doesn’t make any sense).
Sorry, I must’ve provided incorrect info. Just checked with AFS, to buyout the car right now, it would be $37,301.60 due to the 15 remaining payments on the vehicle.
I don’t have much experience with ending leases early but your total remaining lease payments are $10,343.14 and you can get out of the lease today for $6,580.60. IMO this comes down to your personal preference and your financial situation. If you have ~$6,600 that you can put out right now then you’d save some money I suppose, but if you love the car and if you aren’t in danger of absolutely murdering your miles, then maybe just drive it to lease end.
It wasn’t a good deal and you know that now, but no sense in beating yourself up over it. You enjoyed the car and you’ll get a better deal in the future. I think this one is personal preference/your independent financial situation dependent, but if anyone else has good points listen to them as I’m not very versed in this.
very true, but with the money saved could go hop into a more economical car, or at least a better negotiated one. That would also come down to preference if he wants to stay in an Audi, or maybe he could move to something that leases stronger, etc. I mean hell If he wanted to stay audi he could move into a broker deal for another A5 for $354 a month tomorrow. But I agree you have a point he will obviously need a car, and how he burned through those miles definitely will be a consideration for this aspect of his decision.
Editing this in: if you arent attached to the luxury brand look, those Volts are leasing out nicely right now
In terms of “getting out of the lease”, do you feel that listing it on swapalease for ~$200 be the way to go assuming someone is willing to take over during the listing period? That way it seems to be better than putting the $6,580.60 to get out of it?
I’m not concerned with a short period of not having a car, so I’d be ok with taking my time to find a better deal this time. Unfortunately, I am quite attached to audi/bmw/mercs…
Again out of my comfort zone as I dont know much about swapalease/how thorough they are with their price hunting in comparison to this website. I agree with you IF you could get someone to take over your lease that would be your best route financially. Could always list it on swapalease and if no one takes it then you could go with a 1-2K incentive on it to bring their effective monthly down so someone will take it. Better to eat the 2K than the full 6. but again, I am so clueless in that regard that I dont know if it would take a 1K incentive on your part or a 5K incentive on your part to get it off your hands on swapalease. I would check out comparable cars to yours on the site and see what they are going for, then figure out how much of an incentive you would have to give to be competitive, or if your monthly would be a strong competitor there as is.
Luckily since you’re in CA theres no shortage of broker deals or competitive dealers if you dont feel like negotiating one yourself or if you find someone taking it off your hands quickly from swapalease. I know BMW Dave and Calvin from MB are both very active on this website and could probably close a great deal this week (not going to tag them on here as I’m sure they have enough traffic on their page as is, but you could always reach out if it came time and you were interested)
If memory serves, with an Audi lease transfer you’re still liable for anything the person who takes it over does. I could never take that risk personally.
You need to determine if you’re more attached to your money or driving a luxury vehicle here.
I wasn’t aware of this but if this is true then it obviously plays a huge role. I also couldn’t personally do that either and honestly couldn’t ever advise it to anyone. if this is true I would cut swapping off my option list immediately.
Thanks for the heads up, I will speak with swapalease to clarify this. Last I checked, they offer some form of liability protection to the original owner, but will confirm first.
Verified that I will be held liable even if the new person takes over lease as primary. Not willing to take on that risk either. Since I’m not in a rush to get out of this, guess I’ll ride out the rest of the 9000 miles gently
On another note, I’ve been looking at S5 leases and haven’t seen any good hacks at all. I’m guessing S5 leases are just that bad?
. That’s a bad deal bro. Take a fool to jump into that deal on swapalease. If you love the car just enjoy it and learn next time. You agreed to a crappy deal just learn from it
, still waiting to hear back from other companies
