Lease buyout
#1
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Lease buyout
hi guys, my Q5 lease is up this month and I am wandering if anyone has tried to buyout the lease and resell for a profit. my Q5 (2.0Q premium) buyout is 21500, however, CarMax appraisal is 27K. Naturally, I wanted to sell to CarMax but then realize that Audi has a different payout for car dealers, buyout price for CarMax is 29K.
I don't want to leave 5k profit on the table. has anyone tried to payoff the lease outright and then sell it to a private party or dealer?
I don't want to leave 5k profit on the table. has anyone tried to payoff the lease outright and then sell it to a private party or dealer?
#2
However, I didn't know that buyout price is different for other car dealers. That's interesting.
Have you considered flat out buying at 21.5k and flipping it to CarMax? Also if you are interested in getting into another new Audi, I am sure your dealer will be willing to make some kind of deal for you. Are you getting another Audi?
#3
We just took advantage of this similar situation. Went to Carmax and the a couple Audi dealers for appraisals. One of the Audi dealers have us the best price for our 2011 Q5. So that's where we sold it/turned it in we were still about 6 months for the end of the lease and we walked away with $5200 positive equity.
#4
AudiWorld Member
hi guys, my Q5 lease is up this month and I am wandering if anyone has tried to buyout the lease and resell for a profit. my Q5 (2.0Q premium) buyout is 21500, however, CarMax appraisal is 27K. Naturally, I wanted to sell to CarMax but then realize that Audi has a different payout for car dealers, buyout price for CarMax is 29K.
I don't want to leave 5k profit on the table. has anyone tried to payoff the lease outright and then sell it to a private party or dealer?
I don't want to leave 5k profit on the table. has anyone tried to payoff the lease outright and then sell it to a private party or dealer?
2 things to keep in mind:
1) It's not really a profit, more like recouping some of the leasing costs since Audi has low residuals.
2) Because you are buying the car, there may be tax implications depending on your state. In Virginia, you pay full tax at the beginning of the lease but tax when buying off-lease is waived.
#5
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I did exactly this for my last 2 leased Audis. Exactly like you said, I paid it off, received the title, then headed to CarMax and sold for a lot more.
2 things to keep in mind:
1) It's not really a profit, more like recouping some of the leasing costs since Audi has low residuals.
2) Because you are buying the car, there may be tax implications depending on your state. In Virginia, you pay full tax at the beginning of the lease but tax when buying off-lease is waived.
2 things to keep in mind:
1) It's not really a profit, more like recouping some of the leasing costs since Audi has low residuals.
2) Because you are buying the car, there may be tax implications depending on your state. In Virginia, you pay full tax at the beginning of the lease but tax when buying off-lease is waived.
like 99% of the Audi owners, I did not know about the higher dealer payoff. After went to carmax, I bought a new car then this whole fiasco. Lol!
#7
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I will execute a deal following the above...hopefully I will be okay. but I am ready to pay the sales tax if DMV don't agree.
good luck to you.
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