Good morning fellow hackrs, I totaled my leased 2019 Audi etron (not at fault) a week ago…long story short my insurance adjuster declared the vehicle a total loss…given the car market at the moment and after getting a true buyout from Audi financial turns out there’s equity. Since it’s a lease, Audi financial would keep the surplus (since they’re title holders) so I wouldn’t see a dime aside from the CCR refund. That being said I’m planning on buying out the car myself from Audi and have the insurance cut me the check as the new owner. What’s would be the best/fastest approach on paying out the vehicle myself as I don’t have the money to pay for the vehicle…is getting a loan through my bank suitable? I’m new dealing with this situation, Thanks in advanced
Understand that the insurance payout clause is based on when the accident actually happened, so doing this doesn’t actually make the money yours.
You should, however, read your contract to verify that the surplus value on the insurance payment actually goes to Audi. The Audi policy on this varies by state. It isn’t a sure thing.
The last thing I’d want to own is a salvaged e-tron. You’re going to hitch yourself to that thing and end up so much further upside down than any equity you’re trying extract currently.
Check your contract wording. It seems to vary by state and make
I am now afraid to drive anywhere this month after reading all these my newly leased car is totaled posts 
I did contact a representative for Audi financial and confirmed with him about any surplus would go to Audi, however I know well enough that what he “confirmed” or what he’s “used to seeing” and what’s on contract are two different realities. What verbiage should I see on the contract that benefits me as a leasee regarding this equity?
There is a section on your contract that specifically deals with payoffs in the event the vehicle is totalled and describes how insurance surpluses are handled.
I would take what the representative said with a grain of salt. He may be more familiar with the contract in some states vs others, etc. Always best to check your contract language.
Search, this was discussed numerous times (ex: BMW shamelessly STOLE my equity. What can I do?).
What makes you think you get a cap cost reduction refund?
I got this info from an Audi financial representative
I hope you got that in writing because it’s definitely not correct.
I hope so too…but just like you, I don’t do well with assumptions or else I’d be very disappointed😉
Thank you all for the info.
@Ursus Thanks for sharing the link…so a totaled vehicle and whatever is under writing is inclusive of all brands? My question pertained to an Audi not a BMW
The discussion in that link ended up touching on multiple brands, including audi.
Ultimately, the answer is always the same: “what does your contract say?”
@OP - make this post interesting and show us pics of the totaled Etron. Can the rear bumper be salvaged? - I need it… $300 cash …
Like @mllcb42 said - there are different situations discussed in that thread. There are more threads like this, including totaled Audis.
When the insurance company finds out your scheme they’ll pay you nothing and, depending on the state, may report you for insurance fraud.
Hey @max_g I’m sure you’ve been following along with this thread, its interesting how after 167+ posts and counting…it just suddenly occurred to you to make this statement. I’m one of many on here that happen to sit equity after an accident (hence why I’m inquiring about my options) so based on your statement, is everyone on here trying capitalize on equity doing so illegally??… Nevertheless, thank you for your input.
Side not: Do you think it would be brilliant for Audi financial and the representative handling my case (on a recorded phone call) advising me into fraudulent schemes to capitalize on equity?
Audi Financial told you that they would still allow you to buyout the car now, knowing that it’s been totaled? I highly doubt they would.
It doesn’t matter how many posts were in this thread prior to yours.
Clearly you have not thought this all the way through, and you think some rep at Audi Financial has?
If I could forward you our conversation this morning I would, but Audi couldn’t provide a title number (I guess a title hadn’t been created up until today) to my insurance that’s why the buyout check was never sent to Audi
If it was the same representative that told you you were getting all of your cap cost reduction back, I’d go with ignorance over mallace.