“Should I buy out my lease?” super-thread

[anique]

@steveinsac2

Question 1: can I drive to CarMax, hand them the keys, and walk away with a $4,400 check? Meaning, they pay me the difference between their $36.6k quote and my $32.2k payoff? I don’t have to “buy” the car from Audi and pay 10% sales tax and DMV fees before I “sell” to CarMax?

Yes. Just make sure what Audi’s policy is on third-party buyouts. It seems they charge a different payouts to third party buyouts:

List of Lenders that Allow for Third-Party Buyouts

As used car prices soar, many lessees are finding that their vehicles are worth considerably more than their current payoff amount. Instead of simply returning the vehicle at lease end, you may be able to sell the vehicle to a third party (such as Carvana, Shift, Vroom, and CarMax) for a profit. However, some lenders are making it difficult for consumers to access this “lease equity” by charging a higher lease buyout price to third-party buyers than to consumers, or altogether prohibiting third…

and:

Audi Buyout Change effective 3/1/2022

As a heads up to those flipping or selling their leased Audi’s/cars through VW Financial. They have changed their buyout rules, even through authorized dealerships who are eligible to buy them. All dealer buyouts are subject to a disposition fee, buy fee, and segment fee. Disposition Fee: In most cases this is $495 - but your applicable dispo would be labeled on your contract. It is only waived if you go into another lease or buyout the car yourself. Buy Fee: Flat $100, applied to every Audi/…

@steveinsac2

Question 2: assuming I agree to lease/buy another Audi (not a given by any means), and assuming I’m willing to do some negotiating (several dealers near me in NorCal)… would a dealer give me close to $36.6k on a “trade”? I know enough to negotiate the 2 deals separately, but the question is - will an Audi dealer essentially match CarMax?

Maybe they would but in my experience, it is more likely to get better buyout deals going through the online buyers:

List of places to sell or value your car online

What have you been offered?

I would personally try my luck everywhere.

Good Luck.