I got a really good deal on a leftover 2019 A4, approximately 22% off the MSRP to purchase it. Only problem is that I currently have approximately 4 months left on my current FCA lease. The Audi dealer mentioned that they would try to make the 3 remaining payments left on the lease, but may end up giving me a check and having me still keep the car until I can turn it in (90 day rule for Chrysler Capital).
Are there any other options I have other than owning and insuring two cars for a month until I’m able to return the car and not get dinged for early termination and the potential auction price vs residual price penalty?
I was reading and was under the impression that if you return outside of the 90 day window you will be on the hook for the difference between the residual and the price sold at auction.
You don’t think 22% off is that good of a deal? I haven’t really seen better.
It may not be a loaner but a leftover punched car. One way to value this is to put it in kbb as 2019 used Audi with 1000 miles and excellent conditions and see what the value is.
The value is between 8-10,000 less than I was quoted. I’m not entirely sure what to do with this information, however. I can’t ask for another 10% off the car I don’t know if that’s even reasonable.
It depends on the manufacturer, but loaners are usually not titled.
Also, KBB does not include incentives (unless you clicked the boxes under incentives). So the value is $8,000-$10,000 less plus incentives.
Can you post the details of what you are planning on offering to the dealer (MSRP, discount, incentives, etc.)? We can help you better from there, as it is really hard to tell if a deal is good or not based on speculation and percentages.
My main concern was the handling of my current lease. Now that it was mentioned about KBB it spurred a thought, correct me if I’m wrong;
Me buying a 2019 model in 2020 and keeping it for 4 years is the equivalent of me buying a 2015 in April of 2016, keeping it through April of 2020. If I go on KBB and see the trade in values of 2015s now, they’re between 13,500 and 15,000. If I’m paying 39,000 plus tax, figure $44,000, and at the end of the four years the car is worth $13,500, i in essence paid $30,500 in depreciation. Over 48 months that’s $635 per month. That doesn’t sound like a great deal at all.
Are you asking whether it is better to lease or finance? Unfortunately, I cannot make that decision for you (it really depends on your situation, how many miles you drive, etc.).
Assuming your math works out, it seems like a terrible idea to finance that car. However, what is the Residual Value and MF of the lease you are getting from this Audi dealer (and have you checked Edmunds to verify)?
That I don’t know because they gave me a quote of 572 to lease it, but I was more interested in taking advantage of 0% financing for 4 years. But yes I agree that does seem like a terrible idea to finance it at this stage.
I think I’m better off waiting and seeing if I can get a better deal on a 3 series and not having to worry about the dealer payoff.
I would negotiate the deal you want. This sounds like a first pencil offer with a lot more meat on the bone judging by those KBB values you calculated.
We can help you out with judging the quality of the deal, but you will need to ask for a lot more detail (Money Factor (MF), Residual Value (RV), any taxes, feel or dealer add-ons (stay away from the add-ons)).
Don’t know if there’s much more room to go because I brought up another quote I got and he said at best he could match it. Back to the drawing board I appreciate your help.
