I had a few questions on the logistics of selling my lease back to the dealer. The lease on my 2019 Audi S5 Sportback is ending in May and for the first time in three leases I have positive equity. I’ve already ordered a 2022 BMW X4 M40i (shout out to NYCLIFE) and it should be here in 6-8 weeks. I’m just wondering what’s the best way of selling my lease back to Audi. I already went in to the dealer I bought it from and had it eyeballed last month and they said I would clear about $7000 if I sold it back to them. But I didn’t get anything in writing. My questions:
When should I start shopping the car around since I don’t have an exact date on delivery of my new car? I realize the more miles I put on the car the less it’s worth, but my buyout goes down as I make payments. Do they generally offset each other? How long are the dealer offers good for generally? Ideally I sell back the Audi and pick up the BMW as close to each other as possible.
What’s the best way to get offers from multiple dealerships? Will they make offers by email with pictures or do I need to drive to each dealer for them to inspect the car? Are they going to ding me on tires, brakes, etc?
Any fees or hidden charges I need to be aware of or try to avoid?
I got lease wear and tear on the Audi since I live downtown and regularly park on the street. Just confirming that was wasted money right?
I would start shopping it within 1-2 weeks of when your new vehicle arrives. Most quotes for companies (dealers, buying services, etc) are valid for 7 days.
sometimes but this is far more market dependent. Huge correction happened in the last 30 days, if i had to guess your equity position is about 10-15% worse than it was previously. The market is stabilizing somewhat though, so it is possible that the equity offer you get now will be very similar to the one you get once the replacement vehicle arrives (after factoring in the payments/miles made)
Reach out to a couple reputable dealerships/buying services. We buy Audi leases via our partnership with leasehackr and pretty competitive on what dealers will offer (shameless plug). EQUITYHACKR | LEASEHACKR
Given that the vast majority of dealers/buying services are unable to buy Audi leases, it should be a shorter list.
You will get billed the disposition fee regardless. Audi changed this policy - it will either be baked into your buyout or be billed separately. The only workaround is to get it waived by leasing another Audi.
Only wasted money because you’re not turning the car in, you’re selling it. The entity who purchases the car would not enjoy any of those benefits, unfortunately.
We buy leases and are always happy to be a resource!
