I love the car, but my commute changed from 25 miles to about 100 miles roundtrip per day. I am debating between trying to unload the S5 and buying something outright or keep this and purchase a '14-'15 hybrid for under $20k. Not sure whats a better options.
The reason I ask is $799/month for a $70k S5 seems to be a good deal based on what I see on SwapLease and online. But when you factor in everything, my payment is not pretty.
You cannot transfer an Audi lease the way you can with BMW and MBFS. If you do, you (and your credit) will remain liable for any missed payments, unpaid damages, if the car is not returned etc. I would strongly advise you not to do it.
As @28firefighter said it’s extremely risky transferring a VW/Audi lease. I’d only transfer it to someone I trusted. Have you compared the value vs payoff to see how far off you are? Or perhaps buy it with finance so you’re not restricted by lease mileage? Tough situation either way.
Tier remains the same. I wouldn’t not transfer it to anybody unless family if you remain liable
Thanks for the information. This is why I posted asking because I didn’t know about that.
Will look into buying it, but it’s pretty stupid considering I’d be paying used car APR. My estimates tell me I owe about $56,000 if I were to go buy the car today.
Been 5 months, $3k down, $799 per month - ~$61k selling price
How did your payment go from 984 to 799?
$799 + $50 per month + $50 Packages = 903 + 9% tax ($81) = $984
Im not here to defend my payment, I said its close to a $1000 and not pretty lol
I think you’re going to take a bath on this one no matter how you slice it.
Based on what I see, Id have to hit the upper range of a trade in or swallow $1-2k loss
Still not a bad option compared to being over miles on a car like this.
It’s “fully loaded” though. Are you seriously driving 24,000miles a year just commuting? Get the payoff, if you could walk away for anything under $5k I would consider yourself lucky.
Have you put in for a quote from Carvana, Vroom, etc?
Yes, I live in the Bay Area but my office is in San Francisco. I am self employed and run my own business which required me to drive around more than other jobs. At the very least, I commute 4 times a week to and from SF. It is about 80 miles on Highway 280 + 20 miscellaneous miles.
Long story short, I sold my commuter Camry because mileage sucked and I got a good offer from a friend in need. I want to aim for a hybrid for whatever I buy but it was recommended to me that I should instead get rid of the S5 and just buy something for business and personal use.
Just get another commuter car, sounds like you already were driving the miles and this was just a fun car. I’m confused. What does mileage sucked mean?
I guess this happened, lol
Now that the topic of this thread has been addressed, admin please feel free to close the thread!
For what its worth, I’m not comfortable allowing someone else to assume a lease that I can be held responsible for.
Thanks
Closed per OP request. Please let us know if you’d like to re-open.
Reopened per OP request.
It’s not regarding your current lease but why not keep your lease and then just buy a beater for 3 or 5k and just put all the commuter mileage on that and then keep the nice car as your actual car?
Scenario changed,
I just want to get some advise real quick. Assuming I transfer this lease, and I am held responsible - if the person who assumes the lease defaults on the payments the car would be returned to me and I continue making payments, correct? It would not hurt my credit unless I also don’t make payments, correct?
Thanks
You will continue payments. But it’s up to you to get the car back if they don’t give it to you freely.
You have all of the responsibility of co-signer with no benefit except someone else officially paying. As long as they do.
Why would the guy trashing his credit by defaulting on his payments want to return the car to either you or Audi?
It’s now a free car!
