Ubsurd Dealership Sold My End of Lease
01-18-2014, 11:15 AM
#11
Leasing cars is a racket, especially for "S" cars - too expensive. Don't complain on the equity on the residual - it is not your equity. That's the premium for leasing "S" cars. If you drive low mileage and put only 10,000 in 3 years, it's the dealer's gain.
Next time, Buy it, put it in your name, and sell it back to the dealer if you want to trade it in a few years. That way - the dealer has ABSOLUTELY no right on the car whatsoever. If you have not paid your loan, maybe the bank will get it, but NOT the dealer.
Since you did not communicate with that dealer, it is possible that his friend 'reserved' it with some cash and the other dealer's notice about your interest to buy was too late. While you may be entitled to buy the car at lease-end, it is technically still a "leased car" - not yours, and if I'm not mistaken - you need to communicate your 'interest to buy' in advance. Years ago, when I leased my first Audi, I received a letter 2-3 months before end-of-lease whether I was interested to buy it, if not, I should return it in good condition. Technically, lease cars are "owned" by the owner of the Audi Dealer, and he has the right to sell it to his friend if he did not receive any communication from you.
I say there was some miscommunication. You went to another dealer, when you could have gone to that dealer and clarified it with them. And the other dealer may have felt you did not want to do business with them since you got your new S4 from the other dealer - so they sold the leased car, which they could do - they own it.
Next time, Buy it, put it in your name, and sell it back to the dealer if you want to trade it in a few years. That way - the dealer has ABSOLUTELY no right on the car whatsoever. If you have not paid your loan, maybe the bank will get it, but NOT the dealer.
Since you did not communicate with that dealer, it is possible that his friend 'reserved' it with some cash and the other dealer's notice about your interest to buy was too late. While you may be entitled to buy the car at lease-end, it is technically still a "leased car" - not yours, and if I'm not mistaken - you need to communicate your 'interest to buy' in advance. Years ago, when I leased my first Audi, I received a letter 2-3 months before end-of-lease whether I was interested to buy it, if not, I should return it in good condition. Technically, lease cars are "owned" by the owner of the Audi Dealer, and he has the right to sell it to his friend if he did not receive any communication from you.
I say there was some miscommunication. You went to another dealer, when you could have gone to that dealer and clarified it with them. And the other dealer may have felt you did not want to do business with them since you got your new S4 from the other dealer - so they sold the leased car, which they could do - they own it.
I am beyond angry as the vehicle had a predetermined price when I initially signed the lease and now I will not even get that on the vehicle that I am familiar with and taken care for. On top of that we just signed a new lease from this dealership 2 weeks ago. I feel so misled and will see what AoA will say. This is almost beyond a bait and switch tactic. I am sure there was some equity on car because based on the residual the car end of lease price was $31k for my vehicle with 35k miles.
Last edited by ayap; 01-18-2014 at 11:33 AM.
01-18-2014, 06:17 PM
#12
"lease cars are "owned" by the owner of the Audi Dealer"
AoA owns it not the dealer. just because you lease a car though one dealer doesn't mean they have any entitlement to the car. you can return it to any dealer, it doesn't matter.
AoA owns it not the dealer. just because you lease a car though one dealer doesn't mean they have any entitlement to the car. you can return it to any dealer, it doesn't matter.
01-18-2014, 07:44 PM
#13
AudiWorld Super User
Actually, if a leased car is turned into a dealer and they buy it from AFS (or any other lease company), they immediately own it. This is a typical arrangement the dealer has with AFS. In this case, it sounds like there was conversation between the lessee and the dealer but apparently, no official commitment or paperwork was done for the lessee to buy out the lease at or before the time of the turn in.
01-19-2014, 03:12 PM
#14
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Sorry to hear about your situation. Unfortunately if you want to buy your leased car you are required to fill out paper work a month or two in advance. You sign a legal contract that you are going to but it at lease end for the residual value.
As you know the leasing company owns the car not you, so the dealer could do you a favor and sell it to you but they dont have to. They probably shold have told you but they can do anything they want you weren't the owner.
Hope it works out for you and you find another car.
As you know the leasing company owns the car not you, so the dealer could do you a favor and sell it to you but they dont have to. They probably shold have told you but they can do anything they want you weren't the owner.
Hope it works out for you and you find another car.
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