Last post on May 07, 2008 at 7:15 AM
You are in the Audi Q7
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#11 of 20 Why you should never lease through Audi Financial Services
May 31, 2007 (12:44 pm)
Never, ever lease a car through Audi Financial Services for the following reason, something that Audi does but other car companies DO NOT do.
When you lease your car, you have a negotiated residual. If you want to trade in your leased vehicle through AFS, you simply pay the negotiated buyout price, which decreases each month of your lease until the end when it equals the residuatl value.
However, AFS will only sell the car at the contract price to you. So if you attempt to trade the car in to a dealer and buy a new car, they will give you a "special quote" based on "fair market value". This is much higher than the price you can buy the car for.
In other words, they will jack up the price making it impossible for you to trade in your Audi without paying significant out of pocket. This is truly a customer hostile policy. They will not negotiate. You can't buy the car and turn around and sell it to the dealer for the same price because you will incur substantial sales tax, unless you are in a no sales tax state.
So basically you can forget a lease trade in of an Audi without eating at least $1000. From what I understand, they are the only financing company that does this.
While there is no question this is unfair and customer unfriendly, the question is whether it is even legal in all states or constitutes an unfair business practice.
#12 of 20 Re: Don't Use Audi Financial Services - they are crooks [colo4474]
Oct 31, 2007 (11:05 am)
You're probably unaware that dealerships have to pay market value. Their loyalty lies to you, the customer who has the exclusive purchase price listed in your contract. If a dealer wants to purchase they have to pay fair market. Dealers are very quick to lie and disguise to make themselves look better but unfortunately the majority of people eat up every word they say. If you were to read your contract thoroughly before you sign it, you would have avoided all of the hassle completely.
#13 of 20 Re: Don't Use Audi Financial Services - they are crooks [adaniels]
Oct 31, 2007 (11:13 am)
Oh Christ. Here we go again. Please read the other fifty e-mails about this that discuss the differences in polices of the various leasing companies and the extent of disclosure of this policy in the contractual language.
#14 of 20 Market Value...
Oct 31, 2007 (11:58 am)
A cusomers residual is also not always less than market....sometimes its favorable to buy through the dealer and sometimes its advantageous to purchase the vehicle through AFS. If you want to purchase through a dlr there are ways to purchase at residual, it just takes a flexiable dlr and they rather not work for their dollar.
#15 of 20 Re: Don't Use Audi Financial Services - they are crooks [2xaudi]
Nov 02, 2007 (1:10 pm)
I also will never use Audi Financal again. In fact, it has soured my tast for leasing another Audi again ever. I have leased many cars in the past. This is the worst end of lease experience I have seen. They are trying to charge me an extra $1,000.00 for bogus damages, and they say the car is already sold and they cannot bring it back to the lot. Their customer service is useless, and if you happen to read this, avoid Audi Financial.
#16 of 20 Re: Don't Use Audi Financial Services - they are crooks [jaysails]
Nov 05, 2007 (11:12 am)
Yes, it really is a shame. Good cars, terrible corporation to deal with. Keep on at them they will give you some sort of rebate. Someone somewhere at VW has to listen to that poor stupid little felow, (what do they call him? um? Oh yes, the customer!). Any one high up at Audi/VW listening to the minions yet? Mercedes finance corp is the cream of the crop in my years of experience and no sign of change yet.
#17 of 20 Re: Don't Use Audi Financial Services - they are crooks [jaysails]
Nov 07, 2007 (11:37 am)
I'm not questioning that you may have personally had a bad experience, but I was very surprised at how little AFS charged me when I turned in my 4 year old A4 with dents, scratched rims and a cracked windshield. I was out of pocket an additional $175 when I expected well over $500.
I just wanted to offer another side of the coin (so to speak).
Nov 07, 2007 (3:15 pm)
Maybe you have other leases or had other leases with Audi? or VW?
Or maybe you know who to talk to there!!! When I called in, it seemed that the people in CS were less interested than the ones you get transferred over to sometimes in India....
#19 of 20 Do not lease another Audi from Audi Fin Services
Jan 24, 2008 (10:28 am)
My lease on a 2004 A8 was up and I leased a new 2007 Audi. According to AFS's offer, the turn-in fee for the 2004 vehicle would be waived because of the
new lease but no way! AFS demanded that I pay the $150 nevertheless; even a letter to Jo Lebeck, AFS's Director, was answered by an "assistant" who would not relent on my obligation to pay the fee despite their offer. I wouldn't go to court for such a trivial amount but I am now ordering a 2008 S4 but AFS no more! I will lease it through Chase.
May 07, 2008 (7:15 am)
Sorry to hear that AFS is still so badly managed. They were my worst experience to date. Just about to turn in a Toureg to their parent, will be interesting to see how they handle things. So far, Mercedes is the best I've come across.