2014 A6 TDI, Lease & Settlement
06-05-2017, 09:40 PM
#11
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I'm glad you're at peace with it. I think you're lucky in that you could get out. I'm stuck holding their bag of drama until at least December after that I wonder how easy it'll be to unload.
Anyways if they fix it you might just be able to jump back in at a really good price. I doubt there's going to be overwhelming demand after the resolution.
Anyways if they fix it you might just be able to jump back in at a really good price. I doubt there's going to be overwhelming demand after the resolution.
06-05-2017, 10:04 PM
#12
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So I started the thread and wanted to weigh in on where I landed...
I turned in the car on Friday. It was hard as I loved the car but couldn't justify buying it as it is way upside down. The residual (2014, 3 year / 36K miles lease) on it (prestige) was $35200. I had the dealer appraise it and it came in "well under that" and I also took it to CarMax where they offered $26K.
I also called AFS (Audi Financial) but they were no help - they would not adjust the residual. So I had to walk.
It seems to me there would be only 2 reasons that Audi wouldn't want current lease holders to buy the car:
1) they know they can't fix it and don't want to have to buy them back (yes - if you buy it off lease then if and only if they can't fix it they will buy it back. No - you aren't considered an owner for restitution. It's all in the court settlement material)
2) they think, once fixed, it will be worth more. I doubt this one though.
My other big consideration is how much the "fix" will affect it's performance. The only measures of perf in the court settlement is HP & torque and there would be additional payment ($500) if affected > 5%. However, going with how they're currently addressing the issue on 2.0 engines and causing the tranny to shift really early thereby affecting performance, I jettisoned the car. While I loved the car it was because it was efficient AND had amazing performance. If either one of those is affected then it's not the car I bought.
Now, onto how I feel about the lease. I'm mixed. I feel like there was fraud at play to the tune of > $2K in restitution. My feeling is, if the Audi didn't perform better (in efficiency & performance) than the BMW 5 series diesel I'd have leased that car. If I wound up liking it as much as the Audi I'd have bought it and probably had it certified (something the Audi dealer promised me could be done when I was making the lease decision but ultimately could not be done because of the scandal). I feel like I just flushed the $35K depreciation down the drain when before the scandal there was a very real possibility that the market value of the car would have been greater than the residual.
Oh well. I'm at peace with it now. I'll never lease a car again.
Good luck all.
I turned in the car on Friday. It was hard as I loved the car but couldn't justify buying it as it is way upside down. The residual (2014, 3 year / 36K miles lease) on it (prestige) was $35200. I had the dealer appraise it and it came in "well under that" and I also took it to CarMax where they offered $26K.
I also called AFS (Audi Financial) but they were no help - they would not adjust the residual. So I had to walk.
It seems to me there would be only 2 reasons that Audi wouldn't want current lease holders to buy the car:
1) they know they can't fix it and don't want to have to buy them back (yes - if you buy it off lease then if and only if they can't fix it they will buy it back. No - you aren't considered an owner for restitution. It's all in the court settlement material)
2) they think, once fixed, it will be worth more. I doubt this one though.
My other big consideration is how much the "fix" will affect it's performance. The only measures of perf in the court settlement is HP & torque and there would be additional payment ($500) if affected > 5%. However, going with how they're currently addressing the issue on 2.0 engines and causing the tranny to shift really early thereby affecting performance, I jettisoned the car. While I loved the car it was because it was efficient AND had amazing performance. If either one of those is affected then it's not the car I bought.
Now, onto how I feel about the lease. I'm mixed. I feel like there was fraud at play to the tune of > $2K in restitution. My feeling is, if the Audi didn't perform better (in efficiency & performance) than the BMW 5 series diesel I'd have leased that car. If I wound up liking it as much as the Audi I'd have bought it and probably had it certified (something the Audi dealer promised me could be done when I was making the lease decision but ultimately could not be done because of the scandal). I feel like I just flushed the $35K depreciation down the drain when before the scandal there was a very real possibility that the market value of the car would have been greater than the residual.
Oh well. I'm at peace with it now. I'll never lease a car again.
Good luck all.
It would seem that leasing is what kept you out of the fray, immunizing you from any negative impact due to the diesel scandal, which has a got to be the worst case nightmare scenario to beat all nightmare scenarios.
Purchasers have to be concerned about the resolution with VW, lessees just push all that off and are unaffected. But you are saying that in spite of that, it is not something you would want in the future.
So, I think I missed some fundamental point you were making there.
06-06-2017, 04:13 PM
#13
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Our lease was coming up and we really wanted to keep the car since other than the emissions crap there is nothing wrong with the car and it has been an excellent automobile. Just hope they can figure out how to make this better in the long run for those that did lease. Just looking to recoup some value of what was lost in the scandal. We will see.
06-07-2017, 01:44 PM
#14
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I was with you right up to the penultimate sentence (about never leasing again).
It would seem that leasing is what kept you out of the fray, immunizing you from any negative impact due to the diesel scandal, which has a got to be the worst case nightmare scenario to beat all nightmare scenarios.
Purchasers have to be concerned about the resolution with VW, lessees just push all that off and are unaffected. But you are saying that in spite of that, it is not something you would want in the future.
So, I think I missed some fundamental point you were making there.
It would seem that leasing is what kept you out of the fray, immunizing you from any negative impact due to the diesel scandal, which has a got to be the worst case nightmare scenario to beat all nightmare scenarios.
Purchasers have to be concerned about the resolution with VW, lessees just push all that off and are unaffected. But you are saying that in spite of that, it is not something you would want in the future.
So, I think I missed some fundamental point you were making there.
I think the only benefit to leasing is if I really do plan to turn in the car after lease end - this is better than purchase because I at least save on the tax for the full price of the car (with a lease you pay tax on each payment and only pay tax for the depreciation amount). However, you have to assume the residual of the car is greater than or about the same as the present value. I take extremely good car of my cars. Had it not been for this scandal I think my car would have been worth more than residual for private party sale.
The other benefit would be certification but since I couldn't get this one certified I looked into 3rd party warranties for used cars and there are many, at similar cost to cert that cover more and for longer. So that benefit is removed or at least minimized.
Finally, I didn't really like having such a firm end date. There is always something new coming and with a lease I can't wait a few months for something to start selling, there is minimal flexibility.
Those are my reasons and they are not unique to this situation.
06-09-2017, 04:37 PM
#15
I'm in a slightly different position. My employer leases the car and extended the lease to see what would happen. So, the company can buy the car at the end of the lease and benefit from a buy down reduced by 6 lease payments to $28k, and I can buy the car from the company and collect the Owner Settlement money. Including all settlement money, I would be in for $18k and change. That's for a 2014 Prestige no options with 51k miles.
06-13-2017, 02:28 PM
#16
AudiWorld Junior Member
I just received my 'Final Offer Letter' and I am trying to figure out which box I should check, "lease termination" or "emissions compliant repair".
I am turning the car in at the end of the lease in a couple months (September).
Any insights?
I am turning the car in at the end of the lease in a couple months (September).
Any insights?
12-07-2017, 10:53 AM
#17
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Did that work out?
I'm in a slightly different position. My employer leases the car and extended the lease to see what would happen. So, the company can buy the car at the end of the lease and benefit from a buy down reduced by 6 lease payments to $28k, and I can buy the car from the company and collect the Owner Settlement money. Including all settlement money, I would be in for $18k and change. That's for a 2014 Prestige no options with 51k miles.
Anyone else?
02-20-2018, 08:35 AM
#18
As a follow up, after being on the phone with VWGOA's claims administrator a dozen times, and being told that I was ineligible as a Lessee because we sold the car, even though we filed a claim on time and the claim was accepted and the settlement offer letter was transmitted, now VWGOA is saying they are denying my claim. New owner of our leased car is getting full owner settlement money, not the minus $2,000 that he thought he would get. I talked with the plaintiffs attorney and I've submitted an appeal to the diesel settlement appeals board. Audi/VW are acting in bad faith trying to whittle down every claim they can. I've nixing getting a new A8 and I have a good mind to through the price of that car at legal fees to sue VW on my own.
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