Sold Audi lease back to Audi for $$$

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21

Welcome to JeepHackr

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22

Rather keep the Q7 tbh

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I find it amusing when I see the season of Audi ads now and there are no actual promotions.

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24

My season of Audi flyer arrived in the mail with a few promotions. Oil change discount, $100 off a set of tires. Hope this isnā€™t the new normal.

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Iā€™m surprised they even bother spending the ad money at this point. Iā€™m guessing the ad buy with the agency must have already been locked in.

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Unless they plan to start an ā€˜ad shortageā€™ they wonā€™t just defund their marketing department.

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Our Q7 was already at the end of a 6 month lease extension so had to make a move. Was way over mileage, If we just turned it in we would owe $2,450 including the dispostion fee. Audi Dealer cut us a check for $7,650. Did not expect that when the lease was signed.

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congrats!!! you did better than myself!

donā€™t believe the haters that try to discredit my post. bottom line is that ā€œyouā€ get to chose which Audi Dealer you want to return your lease toā€¦ and " you" take the highest offer to give them back your lease early/on time for money in your pocket and they still make $ off your car.

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ther are Audi dealers that sell at msrp right now. nj/nyc area

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ill buy this shit out before paying MSRP lol

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Just turn in my etron for a 12k check. Was way over the mileage toā€¦

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Some questions I am curious to know answers to

  • How do you calculate the positive equity from the lease payoff? Does the dealer tell you the check they will be handing to you after paying off the car or do I have to calculate it myself?

  • Also what payoff number should I quote an Audi dealer? Or can they loo it up themselves?

  • Lastly, does an Audi dealer also pay the remaining payments left on the lease? Or is it exempted?

Thanks

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Your equity can be

(1) highest offer from VW or Audi dealer less the dealer payoff which should be very close to your personal payoff

Or

(2) highest offer from Carmax, vroom, etc less (your personal payoff + TTL)

There are no remaining payments. Itā€™s baked into your payoff and once the payment for the payoff has been accepted that means the lease contract has been terminated by mutual consent.

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Got itā€¦ thanksā€¦so if I were to lease another Audi then I will likely get the taxes from the trade in towards the new car right? A trade value of 38k will bring in about 2.5k in taxes at 6.625 rate in NJ.

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Not :100: sure. Your tax break could be on just the equity portion and not the entire trade-in value.

But why are you leasing another one? Probably not going to be remotely a good deal based on everything we are seeing here

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Trueā€¦ just weighing my options here. The $2.5k tax credit is something that struck me and trying to see if that can be used to offset the next lease reducing payment by $85/month. I do need another car to replace this with. I donā€™t need an exact same car. My current lease was $522 w/2k DAS. I am sure I will not get a payment like that on a Q3 let alone Q7.

I think the tax credit will apply even if I trade in to a non-Audi dealer but they just need to have an Audi dealership in their network to have better payoff quote than 3rd party dealer. Like Ray Catena group has pretty much all dealerships under its umbrella.

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If even that. I donā€™t remember exactly how NJ sale tax law works on this, but since one technically having the dealer buy it from the bank/captive and just give the lessee the equity based on what they value the car as (relative to the payoff of course), it may not even entitle one to trade-in sales tax credit. But plenty of people probably have done this in NJ that could provide a data point, hopefully.

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That doesnā€™t seem realistic at all.

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You donā€™t personally own the car and never paid the tax on the full value of the car, so there typically isnā€™t a trade in tax credit if you ā€œtradeā€ in a leased car.

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This depends on the state. In Maryland (and about a handful of other states, if Iā€™m not mistaken), one pays taxes on the full price of the vehicle when leasing (itā€™s typically spread out over the term of the lease).

That said, at least in Maryland, if one TRADES IN a vehicle, even if itā€™s leased (note: this is different than simply turning in/returning a vehicle at the end of oneā€™s lease), and then either purchases or leases a new vehicle in the same transaction, they only pay tax on the difference between price of vehicle and trade-in allowance.

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