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Prices Paid: Buying & Leasing Experiences Audi Q5 Prices Paid and Buying Experience
169 messages, Last post on Nov 18, 2009 at 1:16 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: dcmachead (Sep 20, 2009 4:49 pm) I went with the Q5 over the Lexus for a few reasons. 1) All of the recent reviews (that I have seen) have put it ahead of the Lexus. 2) I think it just looks better. 3) It's petty, but my old boss (not a nice guy) had one and that soured me, perhaps forever on that car. |
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Replying to: dcmachead (Sep 20, 2009 4:49 pm) |
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| went to hoffman audi today to drive a q5 after eliminating an infiniti ex35 from the list I am considering. liked it even more than I thought I would. told the salesman and his boss that I am not in the market til feb when my current lexus lease ends. they tell me to give them the payoff amount and maybe they can do something since they also own a lexus dealership. none of this adds up until I get home and figure out that they want to take my end of lease value [24800] and sell it on the lot for around 32-33k [[saw on cars.com that they have the same model on the lot with 36k miles [mine only has 34k] for 32951 likely with much less equipment than mine]]. so is this thinking on my part accurate: they want to clear about 7k in profit from my car and then likely stick me for 3k markup on their q5 [premium plus with nav and 19 inch rims] so its a 10 k difference in their favor. if I tell them that I want 6-7 from that taken off the msrp of the q5 is that a fair deal for both of us? or am I just dead wrong? by the way mine like theirs is a 2006 model. | |
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Replying to: digital_b (Sep 21, 2009 9:06 pm)  What they can sell your car for has no bearing on your end of the deal.. There is a wholesale value of your car.. and, there is a payoff on the lease.. If the payoff is equal to the wholesale value, then they can get you out of your car for "free". They aren't making anything on that deal, and you aren't out any money.. If they then make a profit by selling your car, that still has nothing to do with your deal.... that's what they do... buy and sell cars. But, chances are.... your car isn't worth the lease payoff (very few leased cars are, mid-term). It doesn't hurt to have them see what they can do, but most likely, you are a few thousand upside-down, and they'll be looking to hide that in your new payment... On another note.... if they could make $7K profit on a used car.. they most likely wouldn't bother selling new Audis...  The best you can hope for... is that they can get you out of the Lexus for nothing.... then, negotiate the best deal you can on the Q5.. But, you'll probably be better off waiting for February.. regards, kyfdx
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Replying to: digital_b (Sep 21, 2009 9:06 pm)
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Replying to: kyfdx (Sep 22, 2009 3:24 am) |
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Replying to: slavigula (Sep 22, 2009 6:18 am) |
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Replying to: paulwithis (Sep 20, 2009 5:19 pm) I ordered the ibis white w/ beige interior, premium plus+ nav + b&o +wheel locks + fmats +audi care program got it for $45K excluding tax,title in Ohio. My car is being built and should be delivered 45-60 days. |
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Replying to: digital_b (Sep 21, 2009 9:06 pm) On the lease payoff, you have to keep in mind that the "real" payoff for most leases is the residual amount ($24800 for you) PLUS the total of all remaining payments. That is definitely the case for a person simply looking to get out of their lease. It is possible that a dealer can work directly with the leasing company and negotiate a price, but given the state of car leases these days, banks are not looking to take a loss on a lease. From what I've seen, on many leases with good residuals, the banks want the cars back because they will make money on them at auction since the used car market is hot right now. Not true for all cars, but for the right cars, this seems to be the case. The market for well maintained cars like Lexus and Acura is hot. I have seen the auction data (not readily available to the public) and the wholesale market for good quality, well maintained cars has increased over the past year. So the bank may not be eager to simply let you or anyone simply exit the lease for less than residual + remaining payments. That is the number you should be using when calculating the trade-in value of your Lexus. I realize that the dealer may have similar cars sitting on his lot for $32K, but they may not be selling for that. I just sold my 2004 Acura TL after purchasing it after the lease ended. I bought the car from the bank, drove it for 1 year and sold it on my own. Dealers had similar cars on their lots priced at $18K to $20K. They are not selling for that. As it turned out, I was able to sell it for my full price ($15K) with a waiting list of eager buyers I turned away. My car was extremely well maintained, full books/records and the care it had showed. What I am getting at, is if you have a car that is similar and the miles are good, etc., you are probably better off buying the car and then selling it. Keep in mind that at the end of a lease, at least here in Ohio, only you, the leaseholder, can buy the car at the end of the lease and you have to pay the sales taxes, etc. Only a dealer taking your car on trade can avoid the sales tax payment. Sorry if this went in a direction you didn't intend or not interested in, but as others have advised, you may be better off waiting until February, buying the car and then selling it on your own and making the profit yourself. If your car is truly a $32K car, I would do it and use the money on the new Audi at that time.
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Replying to: kwarnold (Sep 22, 2009 5:46 pm) |
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