I am leasing a 2019 Audi q5 at $510/ month. My lease is ending July 31, 2022 with option to extend until January 31, 2023 at the same rate. I have a buyout of around $26,100 with Audi. (Clarifying that I will buy it out, not Carvana). Carvana offered me $36,948, so essentially after taxes (6.6% sales tax in GA) my take home is around $8800. My problem is finding a car to get into, as most dealers are sold out/ have to order. I considered doing a drive go car subscription, but they only have nissan altimas in my area. They said they would swap me to my desired car (bmw x3 available in June) for free but then backtracked saying that was not available anymore. Does anyone use their service? I would have to use their insurance which doesn’t look that great tbh but their rates are definitely attractive. Just looking to see if anyone has any other ideas as to what I should do? Should I buy out my car and then just sell it later when I can get the car I want? Should I just continue leasing until next year and see if the car market cools off? I don’t want to lose my Carvana offer if I can help it, it expires on March 3rd.
As far as I know you can’t sell Audis to anyone but Audi dealers as your buyout price will be much higher. Have Carvana call Audifs for a payout price and see. I speak from experience…
You can sell your audi to whomever you want if you buy it out first, which is what’s going on here.
Even if you buy the lease out today, you’re unlikely to have the title transferred and the new one issued by then.
Carvana said if I start the process and can provide documentation they’ll extend
What’s your plan?
You seem to be in a real rush to sell your car without having any plan as to what to replace it with.
Haha that’s why I’m posting! I was thinking of doing the drive go and wanted to know if anyone had used it?
Have you gotten a quote from them? What was the breakdown?
Here is a link to a member who placed an order with them: GO Car Subscription -Update. Never again!
Internet strangers can’t really help you there.
Why not get into a cheap lease such as a Jeep 4xe or a Nissan Frontier to hold you over until the market cools off in 18 or 24 months?
That doesn’t sound like a long-term solution.
So either
- keep your car,
- Lease a frontier or 4xe
- Finance something which has good resale
Thanks for the feedback! Good ideas!
The drive go is a 3 year subscription so it would tide me over until the market hopefully cools off and if it works well I may just stick to using the subscription.
What’s the total cost of this 3-year “subscription” and how does it save you any money?
It’s a flat monthlly payment with tax and insurance included.
The actual cost of the lease monthly is much less than if you go to a dealer and try to lease the same vehicle. There is no money down. They also include service/ maintenance included new tires/brakes for normal wear/tear.
For ex BMX X3 is $559/month where I live, with taxes for 1000 miles/ month (12k/year) its about $600. If I go to the dealer and try to lease the same car, with this market we’re looking at clost to $800/mo (without insurance). So the cost of the subscription is overall cheaper than a traditional lease. Since this is a relatively new company, I was looking for feedback from others who may have gone this route vs. leasing in this climate.
I have been trying to catch up on the 4XE thread but there are tons of posts- can you summarize how they are coming out to be a good deal right now?
Your best bet is to check out some of the broker deals in the “Marketplace”.
More complicated than that when you consider fees, liquidity of your lease and termination of it compared to the subscription, potential equity you could have on the lease( though yes usually historically unlikely) and how it’s handled.
Don’t think the subscription is a free lunch.
What are the negatives or potential downside for the subscription?
What happens if it’s in an accident?
Can you offload it or buy it out and sell if you need to end the subscription early?
It does not look like you can buy it out or sell it, since it is a subscription service.
There is a FAQs that has some general info: https://www.drivego.com/how-it-works/.
You can get out of the 3 year sub early, but would have to pay a restocking fee.
I’m the guy that placed an order with GO. I’m currently without a vehicle because I sold my lease to Carvana at 12k over residual. I chose to try GO because they’re offering pretty good rates without the BS dealers are putting you through right now. The $1500 buyout was a big deal too. I’m not really getting my first choice in vehicle so I may want to change it up later.
I checked pricing on my Jeep and that 12k over residual is no longer being offered. If you like your car and willing to keep it a few more years then buy it. If not, then get the $ now.
Thanks so much for your reply. I’m thinking of doing the exact same, sell to caravan, get a GO subscription. Can you clarify what you mean about the $1500 buyout? How has your experience been with them so far?
Looked at it based on your post. The rate is ok but not exceptional. There are limits. No one can drive your car unless they are preapproved. I did not look at the criteria but I would imagine it is similar to a rental car, everyone has to be over 25 (guessing here), also they look at your driving record, the price does not include insurance which is based on your driving without the discount I get from my insurance for being a long standing customer. You cannot bring your pet into the car unless they are in a carrier. It is like renting a car for 3 years.
Volvo has a similar program although I do not know what it is called. Someone I know leased through them. In their case they were the only driver in the household, did not have teenage kids so it was easy. They did it in between the shortages, when cars were available, late 2020 I think or early 2021. I think they are happy