My Audi lease was scheduled to expire in July. Just called extended my lease for 6 months. Super quick and smooth process. According to the online portal that was updated after the extension my monthly remains the same even though there should be additional tax owed. They allow a return at any time during the 6 month term, however it must be before the pay date otherwise I pay for the next month. I did learn this tidbit that I wanted to share. Interestingly, I am told that if I anticipate receiving a replacement vehicle (or simply want to end the lease on a specific date) at some point within the month, I can call prior to the pay date and they will prorate the next bill so I donāt pay for the full month, only the portion used.
Do you still have the option to buyout after the car after the 6 month extension, if so is the residual adjusted? Are you obligated to stay with Audi given they gave you the extension?
The agent mentioned that my residual will decrease so I do have the option to buy out. I didnt get into the numbers because I have no intention of buying it out. I am not obligated to stay with audi.
I just checked the portal. I donāt have the precise amount of the old residual, but the new one appears to be exactly the difference between my six remaining payments and the old residual. So you really have nothing to lose by extending if you intend to buy it out. You save the tax on the 6 months of payment and if you intend to take a loan out to buy the vehicle, you save on interest payments.
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The RV goes down each month by the amount of the payment less the rent charge (the MF applied to the remaining residual). In my case, ~92% of the monthly payment during the extension period was applied to reduce the RV.
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When you called and extended did they need to check your credit again or do any financial approvals?
No. It was super smooth.
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Hey, Just a question as my 2018 Q5 P+ is also coming up for end of lease in a month. What portal are you referring to? Audi Finance? Who did you have to contact throughout this process? I would like to keep the dealership out of it if possible.
Thanks for your time! Much appreciated.
Audi financial website, no dealer involved. I spoke to Audi financial donāt even bother with the dealer they canāt do anything for you anyways.
Right on, thanks for the info! Iāll be signing on, and making some changes/requests. But still donāt know if I should make the move on a 2021 Q3 p+, blk optics, or stick with my ā18 Q5 w/22,000mi @549/mo. If anyone knows the MF&RV and any incentives for zip 96815ā¦ā¦ I appreciate yāall
Having current, accurate information for residual value, money factor, and incentives is important in understanding your deal. As such, going directly to a source that has access to that data from the captive banks is your best option. The forums at Edmunds are where we go to get that information, as they have direct access to it from the captive banks. Youāll want to post in the model specific thread for the vehicle youāre interested in and request the most current numbers for your zip code. It is often easiest to find that thread by searching Google for āEdmunds leaseā followed by the model of vehicle youāre interested in.
Alternately, you can try the Lease Program Query tool on the Leasehackr Calculator, available to Super Supporters.
This is great info!! THANKYOU, can you tell Iām a newbie. Hope this helps other as well.