lease end options?
03-06-2022, 10:33 PM
#1
AudiWorld Member
Thread Starter
lease end options?
I have a 2019 premium plus e-tron. i am approaching the end of my lease in september. I was hoping to be able to jump to a Etron-q6 but that may not be out until mid - late 2023. might audi extend the lease? What options might I consider to bridge to that q 6 e-tron.
03-07-2022, 04:42 AM
#2
AudiWorld Super User
I think that your first thing to consider is contacting the dealership. With the market as crazy as it is right now and unfortunately no end in sight for the logistics issues hitting the supply system, I think that the options that they give you today will be nothing like the options that existed when you started your lease.
I am assuming that you are in the US as we are talking leases. But I THINK that the US is looking more at '24 for the introduction of the Q6 etron into the market so I would be very hesitant to restart your dilemma in a year with no inventory available. (Heck, I still have not seen a Q4 etron in the wild yet and the EV wiring harness in Ukraine was bombed so will be relocated to Germany. Delays are not over.)
I'd be curious to know what your dealer would offer you to sell your vehicle to you and then you can turn around and trade it in whenever the Q6's come out (they might crush you going month to month extension as the resale on your vehicle is so valuable to them right now) They are salivating to get your vehicle and other leases coming due back right now.
Look, your plan was brilliant two years ago. Lease the new tech and then move into the improved platform. Then the world happened.
I am assuming that you are in the US as we are talking leases. But I THINK that the US is looking more at '24 for the introduction of the Q6 etron into the market so I would be very hesitant to restart your dilemma in a year with no inventory available. (Heck, I still have not seen a Q4 etron in the wild yet and the EV wiring harness in Ukraine was bombed so will be relocated to Germany. Delays are not over.)
I'd be curious to know what your dealer would offer you to sell your vehicle to you and then you can turn around and trade it in whenever the Q6's come out (they might crush you going month to month extension as the resale on your vehicle is so valuable to them right now) They are salivating to get your vehicle and other leases coming due back right now.
Look, your plan was brilliant two years ago. Lease the new tech and then move into the improved platform. Then the world happened.
Last edited by A4 Phil; 03-07-2022 at 04:46 AM.
The following users liked this post:
Rossde (03-07-2022)
03-07-2022, 05:57 AM
#3
AudiWorld Super User
The way things are going right now, I'd buy the car off lease for the residual and call it a day.
Don't let them talk you out of that as an option either, it's all there in the fine print there is a price you can pay and the car is yours, they can't tell you otherwise. Maybe a lease written in 2020 or 2021 says something otherwise, but you could take that paperwork to a bank and they'll generate the loan off it and send them the payment (don't forget you are on the hook for sales tax in most states if in the US) and the car is now yours.
I'd go with that rather than waiting for the Q6 Etron. We know so little about it as it is, and the manufacturing market of cars and EV cars especially is insane right now. All the smart people keep saying things like '18-24 months before it's better' so that means they're going to try and release a new car within that frame of time too? Doesn't seem likely to me. Resale prices won't tank anytime soon because that lack of new car inventory is only going to build as less and less cars are entering the market for the next 18-24 months too.
My $0.02. I let my leased Bolt EV go back in April 2021. I thought for sure by this time there would be the cars I preordered in 2020 would be available, and none are, and they're all saying January 2023 to 2H 2023 for them (Rivian, or Tesla X)
now we have this Russian invasion of Ukraine throwing giant wrenches into everything, as I understand it VW Germany uses a lot of parts built in Ukraine, and that could create another wave of disasters.
That's my reasoning for buying any car off lease and letting it ride and waiting until you have these supposed new cars in your hand and then trade in. Extending a lease is just going to be wasting money, and this is from a person who loves new cars every three years and has no problems doing it.
Don't let them talk you out of that as an option either, it's all there in the fine print there is a price you can pay and the car is yours, they can't tell you otherwise. Maybe a lease written in 2020 or 2021 says something otherwise, but you could take that paperwork to a bank and they'll generate the loan off it and send them the payment (don't forget you are on the hook for sales tax in most states if in the US) and the car is now yours.
I'd go with that rather than waiting for the Q6 Etron. We know so little about it as it is, and the manufacturing market of cars and EV cars especially is insane right now. All the smart people keep saying things like '18-24 months before it's better' so that means they're going to try and release a new car within that frame of time too? Doesn't seem likely to me. Resale prices won't tank anytime soon because that lack of new car inventory is only going to build as less and less cars are entering the market for the next 18-24 months too.
My $0.02. I let my leased Bolt EV go back in April 2021. I thought for sure by this time there would be the cars I preordered in 2020 would be available, and none are, and they're all saying January 2023 to 2H 2023 for them (Rivian, or Tesla X)
now we have this Russian invasion of Ukraine throwing giant wrenches into everything, as I understand it VW Germany uses a lot of parts built in Ukraine, and that could create another wave of disasters.
That's my reasoning for buying any car off lease and letting it ride and waiting until you have these supposed new cars in your hand and then trade in. Extending a lease is just going to be wasting money, and this is from a person who loves new cars every three years and has no problems doing it.
03-07-2022, 06:23 AM
#4
AudiWorld Member
The way things are going right now, I'd buy the car off lease for the residual and call it a day.
Don't let them talk you out of that as an option either, it's all there in the fine print there is a price you can pay and the car is yours, they can't tell you otherwise. Maybe a lease written in 2020 or 2021 says something otherwise, but you could take that paperwork to a bank and they'll generate the loan off it and send them the payment (don't forget you are on the hook for sales tax in most states if in the US) and the car is now yours.
I'd go with that rather than waiting for the Q6 Etron. We know so little about it as it is, and the manufacturing market of cars and EV cars especially is insane right now. All the smart people keep saying things like '18-24 months before it's better' so that means they're going to try and release a new car within that frame of time too? Doesn't seem likely to me. Resale prices won't tank anytime soon because that lack of new car inventory is only going to build as less and less cars are entering the market for the next 18-24 months too.
My $0.02. I let my leased Bolt EV go back in April 2021. I thought for sure by this time there would be the cars I preordered in 2020 would be available, and none are, and they're all saying January 2023 to 2H 2023 for them (Rivian, or Tesla X)
now we have this Russian invasion of Ukraine throwing giant wrenches into everything, as I understand it VW Germany uses a lot of parts built in Ukraine, and that could create another wave of disasters.
That's my reasoning for buying any car off lease and letting it ride and waiting until you have these supposed new cars in your hand and then trade in. Extending a lease is just going to be wasting money, and this is from a person who loves new cars every three years and has no problems doing it.
Don't let them talk you out of that as an option either, it's all there in the fine print there is a price you can pay and the car is yours, they can't tell you otherwise. Maybe a lease written in 2020 or 2021 says something otherwise, but you could take that paperwork to a bank and they'll generate the loan off it and send them the payment (don't forget you are on the hook for sales tax in most states if in the US) and the car is now yours.
I'd go with that rather than waiting for the Q6 Etron. We know so little about it as it is, and the manufacturing market of cars and EV cars especially is insane right now. All the smart people keep saying things like '18-24 months before it's better' so that means they're going to try and release a new car within that frame of time too? Doesn't seem likely to me. Resale prices won't tank anytime soon because that lack of new car inventory is only going to build as less and less cars are entering the market for the next 18-24 months too.
My $0.02. I let my leased Bolt EV go back in April 2021. I thought for sure by this time there would be the cars I preordered in 2020 would be available, and none are, and they're all saying January 2023 to 2H 2023 for them (Rivian, or Tesla X)
now we have this Russian invasion of Ukraine throwing giant wrenches into everything, as I understand it VW Germany uses a lot of parts built in Ukraine, and that could create another wave of disasters.
That's my reasoning for buying any car off lease and letting it ride and waiting until you have these supposed new cars in your hand and then trade in. Extending a lease is just going to be wasting money, and this is from a person who loves new cars every three years and has no problems doing it.
03-07-2022, 06:45 AM
#5
Agreed. I wouldn't be considering extending the lease at all. I would be counting the days until I could buy the car. Enjoy it for another year or two while you're waiting for the Q6 e-tron.
I bet a lot of people who leased cars in the Before Time are sitting on a nice potential profit right now. Being able to buy any car for the as-estimated-in-2019 residual (plus fees) could be a awesome deal depending on the car.
I bet a lot of people who leased cars in the Before Time are sitting on a nice potential profit right now. Being able to buy any car for the as-estimated-in-2019 residual (plus fees) could be a awesome deal depending on the car.
The following 2 users liked this post by mtberman:
John (aka Daddio) (03-09-2022),
Rossde (03-07-2022)
03-07-2022, 06:47 AM
#6
AudiWorld Super User
Agree. But there are differences with lease buyouts by state. I have 2 months left on my lease (Edition One)and plan to buy it out. My lease clearly states buy out price, BUT the wonderful state of Florida, does not allow a consumer to buy the car directly from the financial institution (in my case Audi FS). Florida law mandates the car must be purchased through a dealer. The dealer buys it and flips it and get to add a dealer fee ($999) and car must be safety inspected. I expect my tires will clear the inspection, but I am OK with buying new tires. I don't know what to expect for any other wear charges....THIS IS CRAZY. I have bought leases in the past in New York and it was a simple checks sent to the financial institution. Not so in Florida.
The following 2 users liked this post by TTom TTR:
John (aka Daddio) (03-09-2022),
thebishman (03-07-2022)
03-07-2022, 07:00 AM
#7
There is a very good chance that given the current market you may well have $15K-$20K of equity in the car versus the lease buy-out which was based on a market from over 2 years ago pre-Covid, supply chain issues and now Russia’s invasion of Ukraine. Even after you pay sales tax in your state, you’ll still have excellent equity and you’ll be driving a fantastic vehicle that is still worth way more than you thought when you signed the lease papers.
By buying, you get to determine when/if you trade for a Q6. When you go to your local dealership to order the Q6 etron the dealership will be desperate to get your etron in trade, so I can imagine that you’ll be able to make a good deal. I will be purchasing my ‘19 when my lease is up in 2/23 and will then use the additional equity to help when I choose a new BEV to try.
By buying, you get to determine when/if you trade for a Q6. When you go to your local dealership to order the Q6 etron the dealership will be desperate to get your etron in trade, so I can imagine that you’ll be able to make a good deal. I will be purchasing my ‘19 when my lease is up in 2/23 and will then use the additional equity to help when I choose a new BEV to try.
The following 2 users liked this post by thebishman:
John (aka Daddio) (03-09-2022),
mtberman (03-07-2022)
Trending Topics
03-07-2022, 09:01 AM
#8
same here. we plan to buy it out at the end of the lease because (1) we love the etron more than we thought we would and (2) because we love it so much, we are extremely over on mileage already 
i'm sure there will be some equity in the car even with excess mileage, but we got a smoking deal on it right before the pandemic so it's makes more sense for us to keep it than try to get another EV and not get similar discounts.
i'm sure there will be some equity in the car even with excess mileage, but we got a smoking deal on it right before the pandemic so it's makes more sense for us to keep it than try to get another EV and not get similar discounts.
The following users liked this post:
John (aka Daddio) (03-09-2022)
03-07-2022, 03:07 PM
#10
AudiWorld Senior Member
Last March I leased a Prestige for 20K off MSRP. Today I received a card that the dealer, they could get me out of the lease if I wanted to pay $2600 penality. I wrote back to the dealer asking why I wasn't offered a check to turn the car in early since they could sell it for more than I payed for it last year. Dealer wrote back since my mileage was in line with the lease they might be able to take it back without any penality. What a joke!
If I gave it up what would I get now? Paying $950 w/maint 36K miles; BMW iX is $1279 + $5700 dwn. for 22K total miles. None of the other crossovers or SUVs are in the same category as the etron 55 SUV, although some may get a little better range. Have to evaluate the market conditions going forward.
If I gave it up what would I get now? Paying $950 w/maint 36K miles; BMW iX is $1279 + $5700 dwn. for 22K total miles. None of the other crossovers or SUVs are in the same category as the etron 55 SUV, although some may get a little better range. Have to evaluate the market conditions going forward.