Thanks. I got the “dealer payoff” and it’s close to my residual without taxes. I think Audi would offer you what they are willing to pay for the car to still make money, meaning it doesn’t have to be residual or AFS market value
Captives often allow their own dealers to pay the lower of RV or market value to buy a car, but IDK about AFS specifically
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I’ve doing some research on this over the last 2 days and ran into the same issue. The price AFS quotes another entity is typically higher than the “payoff” value that they quote the current lessee.
After trying to figure a way to make it work, I hit a road block and it looks like I’ll be keeping my 2018 Q5 for the remaining 14 months. It just didn’t make financial sense to move forward.
Thanks @max_g. Looks like my only option would be to sell to an Audi dealer. Based on some research similarly equipped and mileaged cars are listed for $48 - $52 on dealer websites. Hopefully I can get them to part with $44 or $45 and walk away with a little bit of cash.
They will give you wholesale or less, depending on what they can get a similar car at auction for. They won’t give you KBB
Oh, I’m aware. KBB private sale value is about $48, trade in is about $43.5. My local dealer also tends to sell on the high side, so hopefully they have a little wiggle room.
My family owned a used car dealership for 30 years. The captive financing company is the only wrinkle that threw me for a loop when they started quoting different pricing to different parties.
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Hey all, sorry to revive an old thread, im running into a somewhat similar issue, I got offered 25.6 by carmax, and my residual is 20k, currenty buy out is 22k direct through audi. Problem is, AudiFS sent carmax a pay off of 27k, so I’m left wondering:
Should I buy the car cash and then sell it outright to carmax, but then how do I get away without paying taxes here in California on the initial pay off?
Could I approach the dealer where I will be returning the car and see if they would just buy the car, or maybe I should approach another audi dealership and not the one where I plan to return it?
Honestly at the end of the day knowing that i have equity in the car its almost a no-brainer just to avoid the lease-return fee at this point.
Any help is appreciated!
Jon
There’s has been a lot of recent posts, especially with AFS and selling. ‘Search’ is your friend - do a search on LH if you want to know more. But here’s a hand:
You can try. @Samaudibh was also looking for Audi returns a few days ago. GLWT
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Thank you !!!
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I sold my sq5 directly to vroom. They paid audi financial and cut me a check for the difference, if you owe on it they will ask for the difference upfront feom you , then cut a check to audi
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Hi. I’m trying to do the same thing. Did Vroom just pay off your personal payoff or did they have to get a dealer payoff quote? Thanks!
Audi will have a different payoff for vroom than you. It will be higher for vroom.
Was it way off from the personal payoff?
There’s no formula of how much over personal payoff. They are going to charge their estimate of fair market value, and that’s going to change as the market changes.
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We should create a “selling leased cars 101” thread.
Basically in California (if you have the funds), you’re best off locking in a deal to sell it, buying the car and immediately selling it.
In theory, yes.
The issue you run into is the tax advantages are on a timer, most offers are on a shorter time line and you’re relying on the bank and dmv to be timely.
If you’re in the process of receiving offers from Audi dealers - add VW dealers to your net also. I recently sold an Audi E-Tron to a VW dealer and the dealer payoff was very close to my personal payoff. In this case, the VW dealer was offering way more than several Audi dealerships.
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Unfortunately yes, so much, I had to purchase it and then sell it.
Hi, how did you manage to get offers? Walk in or emails/calls? Thank you