Hello Gurus,
My Audi Q5 lease is coming to an end. Would like your advise on some possible options.
Current lease details:
Audi Q5
Lease ends in December 2022
Current monthly payment is $479
Location is South Florida
Buy out price is about $27K. I know this is not pay off price. In FL I was told by Audi finance that I need to go to the dealer to buy.
Someone scratched in the parking lot that damaged the right tail light like a year ago. The quote from the dealer is about $1300 to replace.
What I would like to do:
Wife wants bigger space as she saw her cousin’s Ford explorer. So I am thinking about a 7 seater like Kia Telluride or Hyundai Palisade. Not a fan of Ford Explorer, but does not care about brand. A 7 seater car with creature comforts with decent monthly payment.
Options:
First - Should I get the right tail light replaced or leave it?
- Extend lease - Should I try to extend the lease for like another 3 months as I see a declining trend in New car prices. I know, no one has crystal ball, but there seems to be a price declines with both used car and new car prices
- Buy my Audi Q5 - By December I will have like 27,000 miles on the car. the tires need to be replaced and as I mentioned the right tail light needs to be also replaced. Insurance deductible is $500. Not sure it is worth a claim. Wife would like a 7 seater, but we can wait for another year if needed.
- buy/lease a new 7 seater - Find a 7 seater and use any equity from my Audi Q5 and buy/lease. I saw in the forum that it is best to buy Kia Telluride or Hyundai Palisade as the finance is ugly. Again, I am not tied to either of these brands. Any 7 seater works for us.
Appreciate any advise from the Gurus.