Folks, i am offering my A5 up for Lease Assumption, testing the market and seeing how much interest I get. we have recently had a pay cut across my division and i can't justify keeping the car (yes, the car of my dreams!!!!) for the foreseeable future.

My lease is with US Bank, and it is $839/month. If you do not know about Lease Assumption, it is fairly complicated... TX is a TAX FIRST STATE, meaning tax has already been figured into the cost of the lease, so if you are in a tax-first state (those are: TX, IL, NY, NJ, OH, MD) you will not be required to pay tax on the vehicle, it's already factored into the payment. if you live in another state, you will be assessed your local taxation amount on top of the $839.

As you can see in my profile, it's a 2008 A5 6MT, meteor/cinnamon brown, has 4500 miles and is in ABSOLUTELY MINT condition - not a single scratch inside or out. 1200 of the miles came from one road-trip.

I have every single option except S-line (as i wanted wood interior instead of aluminum trim).

email me at justin.schmid @ wipro.com

double taxation is not cool...

<img src="http://pictureposter.audiworld.com/136158/audi1.jpg">
<img src="http://pictureposter.audiworld.com/136158/audi2.jpg"><img src="http://pictureposter.audiworld.com/136158/audi3.jpg"><img src="http://pictureposter.audiworld.com/136158/audi4.jpg"><img src="http://pictureposter.audiworld.com/136158/audi5.jpg"><img src="http://pictureposter.audiworld.com/136158/audi6.jpg"><img src="http://pictureposter.audiworld.com/136158/audi7.jpg"><img src="http://pictureposter.audiworld.com/136158/audi8.jpg">
<img src="http://pictureposter.audiworld.com/136158/audi9.jpg">
<img src="http://pictureposter.audiworld.com/136158/audi10.jpg">
<img src="http://pictureposter.audiworld.com/136158/audi11.jpg">
<img src="http://pictureposter.audiworld.com/136158/month4.jpg">

Yes, and my residual was really low, like 40%. i got a great MF on the vehicle through US Bank.

i will have to check with them to see what the current buy-out is.

No, lease assumption is a tricky deal.

however, A5s and S5s are incredibly hard to get right now, so i dont imagine i'll have a hard time finding someone to take it off my hands...

there is 1 A5 on swapalease, and they want $1100/month!! AND they dont have tax rolled in. they got ripped the F$$$ off...

leasing a car or fleecing as Ramsey calls it is one of the poorest financial decisions one can make. An $800 + lease payment is unbelievable.

Buy his book the total money makeover soon.

...if I were you, I'd pony up and buy the thing out, sell it for as much as you can, absorb the pain (if need be) and be done with it...while there's still a constrained market on the things. Hell, your dealer might even buy it back and facilitate everything. But at $840 a month for a used A5 with cin (no doubt it's beautiful, but definitely a niche color), I'm not so sure shopping a lease assumption is the way to go. I'd cut and run while the market's hot. Just my 2.

did i ask for your advice?

thanks.

I have been on audiworld for a long time and thats a very lame post. Leasing is not the worst decision for some depending on tax benefits and he wouldn't be any better off if he had layed down a huge down payment. If he had financed it he would be in the same spot potentially. He had some bad luck in a down economy.

This is the A5/S5 board and these cars cost $45K-$60K -- go visit the used honda or toyota board for smart car purchases and enjoy your ride.

Try craigslist and swapalease. I am sure someone will pick it up. The payment is high, but people aren't going to do much better out there.

Check out the buyout as well. You might have better luck with a straightup sale.

today as i am working to trade it in i am wayyyyy upside-down on it. Had I leased (for the same payment as buying) at the time i would have saved $12-15K on the car today. I could have just handed it rather than handing back with a big check. That is dumb. The advice may work for cheap cars but not more expensive ones.

I always buy my cars cash or some financing if rate is really low. When I looked to trade my allroad after 3 years it was 9K under water. If I had leased at the same rate and had a .20 per mile penalty I would have only been out of pocket a few thousand and could have gotten something newer. I never did trade it, just paid it off and kept it as my winter car. Pathetic.

Nice looking RS6 FWIW...

Fandawg, i have been pissed off for a day now, hence a longer response to you:

1. a Very wise financier once told me to live by this simple rule: BUY those items that APPRECIATE and RENT those that DEPRECIATE

...

now i guess that one who is buying $51K cars with CASH would disagree, but for the 97% of us who are not that financially-windfallen, then leasing is one approach. and my $839 payment is not some magically-bad number... AFS wanted to stick me for the high $980's, i actually got a good rate throush USB.

Point 2. - Leasing vs. purchasing is really more of a personal preference, like Political Preference or religion.. now those of us who swing far one way to the right or left, or like a religious fanatics, will tell you it's their way or the highway, however more reasonable folks will agree that depending on your Taxation situation, driving habits and preference, and car ownership preference, it will come down to choice. I drive less than 10K/mi per year, and prefer to have a new car, and am also required to have a NICE car for work (sales role), so leasing isn't a bad choice for me. i would have BOUGHT if the prevailing APR, residual, etc. made more sense for a purchase, but it didnt. and i didn't have $51500 in the bank that month.

2a. I could have put down a HUGE down payment, bring down my effective payment, but as ANY public forum, smart financier or leasing advice website will tell you, why the hell would you LEND the bank your money (your down payment) in lieu of a higher payment, when you could invest your money in the market, and be EARNING on it, instead of the bank...?

3. as several other folks pointed out - sometimes leasing 'shields' you from becoming upside-down in a car. This is especially risky when a new model comes out and the market cannot predict what the residual value of the car will be. like the A5. Hence AFS was giving an approx. 34% residual on their loans.

4.... i guess Dave Ramsey is making a pretty penny, selling you his one-sided financial thoughts for $29.95 a book - i'll bet he buys his Audi's for Cash. I also read Rich Dad, Poor Dad, The Millionaire Next Door, Think and Grow Rich, The 7 and 8th Habit(s)... the point is, i wanted to drive an A5. so i got one.

go push your (sorry, Dave Ramsey's) Agenda someone else.

think i will.

what do you mean?

I have an A4 that I'm trying to get out of(around $500 per month). Maybe we could work something out.

Sorry to hear about your job. Hope you are doing ok. Go Peruna!!!