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What’s the 530e worth?
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You don’t need an X3. Try to stick with a hybrid or PHEV, but it may mean another brand if the 530e isn’t worth buying at RV.
With 33k buyout there isn’t much liquidity left. To get pre-owned 530e in similar mileage, the lowest I found is 36k.
Audi Financial Services
Audi Q5:
Disposition date: Mar 20
Residual Value : $27,415
Monthly Payment: $575
State: CA
I don’t need need a car till Aug 2023. I will start looking for a new car then, so unable to decide whether to buyout or sell it to a 3rd party. Request your advice.
Can you please suggest the best way forward?
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This one is simple- you can get 6 month max extension with AFS. You can cancel anytime before the 6 months without penalty. And do your research in the interim on what kind of potential deals you might be able to get.
Depending on miles, there may or may not be any equity. My 2019 had 15600 so there was (out of 30k).
i already extended for 6 months, its 2019 Q5. What is the best way to sell the car?
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i get about 10k difference in private sale vs dealer. What is the best way to do the private sale?
That doesn’t sound right. Sources?
I would doubt that as Dealers are running about 6k. Why would someone pay $37k PVT when it’s not even that on Dealer lots?
The typical way of doing anything if you think you can get 10k; do the legwork.
Pay off the vehicle and wait for the title, fill out DMV transfer form, get it smogged (depending on your state), get your maintenance records/receipts lined up, take good pictures, wash/detail the car, write a good detailed description, post on either a paid platform like Autotrader/eBay or a free one like craigslist/offerup.
What is the negatives if I was to just extend the lease? I feel like it just gives me more options down the road.
Technically you are overpaying when you extend a lease compared to what the original monthly payment would have been if your original lease was the full extended period. All else equal, you are paying above market rates each month. However given the rise in interest rates/inflation, extending is not necessarily that bad of an idea right now, especially if you think deals will come more plentiful in a few months. Note that interest rates will only keep going up in the near term, though.
As in… actual options or just waiting on a wing and a prayer?
An actual option would be putting down a refundable deposit on a factory ordered vehicle, one that you would be comfortable financing if the lease programs aren’t very good at the time of delivery.
Based on what we’ve seen in the last ~3 years I don’t believe in waiting on a prayer.
Can you elaborate on the CA sales tax thing? My lease buyout given to me from Chase is $19k.
I’m debating on whether to buy my Mazda cx-5 out or sell to ALGO.
Thanks
Is this your first kid? You definitely don’t need an suv. A 5 series is more than enough.
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Look at my HMF Payoff sheet
See that Sales Tax of 1684.62?
According to people here when they show up at DMV and register the car in their name, CA DMV charges them ANOTHER Sales Tax Amount of $1684.
So what is 1684 that Hyundai is collecting any why aren’t they giving it to CA DMV?
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I don’t know California tax laws, but wouldn’t you owe tax on the residual balance if you purchase (i.e., buyout) the car? Your monthly taxes are only paying down the depreciation up to the residual balance.
So I would assume those taxes are the remaining monthly taxes for the buyout, and then the taxes given to the DMV are for the residual/purchase transaction.
When you buy your car, you pay taxes on the RV, Basically you are purchasing the car at RV and paying sales tax for it.
DMV show $0 paid toward sales tax and charges you again. IE: Hyundai never told them they collected it.
What? I have one 2.5 year old and can say with 100% certainty that I would not want to live the past 2.5 years without an SUV. Whether it’s hauling strollers and kid stuff or the hassle of getting a kid in and out of a sedan, there’s really no comparison. You need an SUV with infants and toddlers. Once they can get in and out on their own, buckle up, etc, you can go back to a sedan.
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Adds convenience for sure but is no way required
There’s plenty of people who survive having multiple kids with just a hatch back!
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