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Smart Shopper Lease Termination Fees and other costs
1038 messages, Last post on Nov 19, 2009 at 9:34 AM
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My Audi Q7 lease ends in 2 months. I was recently rear ended by a truck. Very slow speed, small dent near the license plate. Other driver said he would pay for the repair. I got 2 local body shop estimates ($800 and $850) and sent to him. He sent me a check and we're good. My question: if I turn in the car as is, will Audi gouge me on the repair? Can the pre-inspection tell me how much my cost would be? Is that binding? Bottom line for me, if Audi will charge me the same as my local body shop, I would rather just turn it in and not deal with the hassle of repair.
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Replying to: rbirns1 (Jul 17, 2009 7:08 am) I have an A4 that had a tiny dent (smaller than a dime) and the inspector wrote the cost to be $55 on my inspection report. That's pretty competitive to what most mobile dent repair outfits charge. If you do your inspection early you'll get the estimate. From there, see if it would be cheaper to let Audi handle it or to do it on your own.
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Replying to: taun (Jul 17, 2009 9:12 am) |
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So as you can see I still have time to decide what I want to do with my car, but I'm about to take this job that will require a lot more driving. My question is that if I decide that I'm going to buy out the car anyway, does it really matter on how much overage I'll have in the milage?
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Replying to: azngrl18 (Jul 27, 2009 10:35 am) Nope. |
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Replying to: azngrl18 (Jul 27, 2009 10:35 am) |
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I have one month left on the 2006 Lincoln Zephyr. Residual is $16,240 and my mileage today is 30,200. Allowed mileage is 33,000 so I should should be well within the limit as I generally drive 1000 or less miles in a month. The car was rear-ended by a truck and the trunk lid was replaced, side panels refinished etc. for about $8K (paid by other driver's insurance). I just had my inspection and the guy has found several scratches, bumps, gouges, dings on the front bumper, hood/cowl, left front door, left rear door etc. I can't really see them and the body shop that did the repairs just did a detail on the car for me. The inspector (from Data Scan) said they would have a report and estimate available online this evening. This is my first lease ever, what are the next steps? I'm also wondering whether I should buy the car out, or what the options are. I like the idea of leasing but want to keep the payment under $300/month. (The Zephyr was $292, which included CA tax, with $0 down). However, leases currently look terrible, low residuals and not so great money factors.
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Replying to: rj123456 (Jul 28, 2009 12:27 pm) Wholesale on your car is in the $15-16k range so your buyout price is on the mark. With tax and fees you should end up in the mid $300's for 60 months. Not surprised you can't find a new lease that is comparable. A $30,000+ never leases for under $300/mo unless there is a TON of incentive somewhere. Leasing is just getting back to being realistic is all. |
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I've got a 2008 GMC Acadia whose lease expires in November 2010. 36,000 mile lease and as of mid September I'm already up to around 27,000 so it's a good bet that we're going to go over the allotted miles. The charge for going over is 0.20/mile. I don't necessarily mind paying that, but I'm a little more concerned about what'll happen when I return the car. The warranty on the car is good thru 36,000 miles so I'd be in a situation where I'd be returning the car and it'll be out of warranty. Having never leased a car before, I have no idea what to expect when I turn the car in, but I'm concerned that if the car's out of warranty the dealer could hit me for charges to fix things that aren't broken but are items that are normally covered by warranty. For example, we've had an ongoing problem with the thermometer on the car - it'll be 75 degrees out but will read 111 until I start driving way, slowly going down. If I return the car and it's out of warranty and the thermometer issue arises again, wouldn't they charge me? The other option is to let the car sit for a few months or turn it in early, but then I'd be double paying since I would still need a vehicle and would either have to rent one or buy another vehicle early. Obviously, paying the mileage overage is a lot cheaper than paying for two cars for say three months, but the potential warranty problem concerns me. Suggestions? Thanks!!!!
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