ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
30 May 2020, 02:41 PM | #1 |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
Leased vehicle, low mileage
I leased an Audi A4 in June, 2018. I have a three year lease that allows 12,000 miles per year. Due to CV19, we have been sheltering in place since mid March. I’ve done 200 miles in the last two and a half months. I have 15,000 miles on it at year two.
I like the car. If I buy the car at the end, will I be getting a great deal due to the very low mileage? Do I want to buy an Audi out of warranty due to potential expensive repairs for Audis? I have a year to figure it out. My former strategy was to buy a Honda Accord for cash and keep it for ten years. |
30 May 2020, 04:20 PM | #2 |
"TRF" Member
Join Date: Mar 2009
Location: World
Watch: 16750
Posts: 2,719
|
|
30 May 2020, 09:29 PM | #3 |
2024 ROLEX DATEJUST41 Pledge Member
Join Date: May 2012
Real Name: Jim
Location: Westchester NY
Watch: 116500 116518LN
Posts: 5,876
|
As far as the great deal - depends on the buyout / residual at the end of the lease.
Maintenance wise - an Audi or any high end German vehicle is going to cost more to maintain than a Honda. You could look into extended warranties if you are worried about Iong term ownership costs. Sent from my iPhone using Tapatalk
__________________
Remember what matters. Value everyday |
30 May 2020, 09:40 PM | #4 |
2024 ROLEX DATEJUST41 Pledge Member
Join Date: Nov 2010
Location: North Carolina
Watch: Rolex/Others
Posts: 44,758
|
I would project my miles at the end of the lease and check the values of the vehicle as retail and trade in. I would also look at the depreciation on the vehicle during the time it would take you to pay it off and see how far down it will go. I have never owned an Audi but numerous Mercedes-Benz's and I found that the vehicles would hold value for a while, drop like a rock, stabilize and repeat. I would turn the vehicle back in as service, maintenance and depreciation will eat you alive in most German vehicles. I would go look at a Lexus if I wanted a luxury car and either buy a certified pre-owned or grab a lease and look to a purchase at the end. Good luck and let us know what you decide.
|
30 May 2020, 09:40 PM | #5 | |
"TRF" Member
Join Date: Jul 2014
Location: Washington, DC
Posts: 5,341
|
Quote:
Depends on residual. That information is in the lease agreement. If it’s reasonable and you really like the car why not. Especially if it hasn’t given you any problems. You should be able to negotiate the price as well. I bought mine out, was way under on miles and loved the car. It was trouble free and so no real purpose in getting a new one since it was virtually unchanged. Sent from my iPhone using Tapatalk |
|
30 May 2020, 10:05 PM | #6 |
2024 Pledge Member
Join Date: Jul 2013
Real Name: Brian (TBone)
Location: canada
Watch: es make me smile
Posts: 73,714
|
I’d never own an Audi, Mercedes, BMW off warranty.
If you like the car and it’s low mileage you could always drop an extended warranty on to it. I personally like to rotate between new cars every four years, simply for variety sake. |
30 May 2020, 10:38 PM | #7 |
2024 Pledge Member
Join Date: Nov 2012
Location: USA
Watch: addiction issues
Posts: 36,866
|
Crap happens just be glad you’re not over on miles.
You might be able to pawn it off on someone else via swapalease and get the Honda. I bought two brand new vehicles in November/December lol we have 3k miles between then. Has not stopped me from entertaining a trade in for something else haha
__________________
|
30 May 2020, 11:41 PM | #8 |
"TRF" Member
Join Date: Dec 2018
Real Name: JM
Location: USA
Watch: es
Posts: 83
|
Isn’t Audi usually 4 years warranty? You’d still have a year left, also if you had Audi doing your maintenance (which I assume you did because it’s a lease) they'll let you extend the warranty (you’ll basically buy your own car CPO when you turn in your lease).
To me that would be much preferable to getting a Honda but to each his own... |
30 May 2020, 11:57 PM | #9 | |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
I think that you are correct about the four year warranty.
Quote:
|
|
31 May 2020, 12:19 AM | #10 |
"TRF" Member
Join Date: Feb 2012
Location: Chicago
Watch: explorer
Posts: 2,131
|
I bought the extended warranty on my Q5 (8yr/ 80,000 miles) and it was around $4k... to help you factor future costs while deciding. I would keep the A4 with those low miles.
|
31 May 2020, 12:34 AM | #11 |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
Even if the world opens up, I doubt I’ll pass 22k miles.
What does the extended warranty cover? Do you have to pay for oil changes, minor and major services?
|
31 May 2020, 12:35 AM | #12 |
2024 Pledge Member
Join Date: Jul 2010
Location: Denver
Posts: 4,121
|
I have a feeling you will get a good deal given that the used car market is being flooded with rental companies starting to off load inventory.
__________________
Jason 116610 LN DateJust Pelagos FXD |
31 May 2020, 12:38 AM | #13 |
"TRF" Member
Join Date: Mar 2016
Location: Abu Dhabi, UAE/AZ
Watch: Yachtmaster
Posts: 670
|
Pay cash for a Hyundai or Kia. Keep for twenty years.
__________________
116622 1680, 16233, 113400 retired |
31 May 2020, 12:53 AM | #14 |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
Not fond of those makes
|
31 May 2020, 12:56 AM | #15 |
"TRF" Member
Join Date: Dec 2011
Location: Marietta, GA
Posts: 3,248
|
I have driven Audis for most of my car ownership. I currently don't drive one now though, and likely never will, just due to them getting fancier, I feel like they have lost their way...but bottom line, I spent way too much on repairs for a 98 A4 and a 2001 TT, but I drove a 2012 A3 TDI for almost 7 years and literally nothing needed repairing on that car other than a few small recalls. I had the oil changed, tires changed and one break job... Flawless car. I traded it in for the cash though due to the class action law suit. They gave me $28K for it. I couldn't argue with that. So I turned around and bought a 2018 (new) Miata Club with Recaro seats and BBS wheels. I don't regret it for a second. But I also didn't need a car with back seats.
|
31 May 2020, 01:18 AM | #16 |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
What was wrong with the 2012 A3 that they gave you $28K for it?
|
31 May 2020, 01:47 AM | #17 |
TRF Moderator & 2024 DATE-JUST41 Patron
Join Date: May 2007
Real Name: Larry
Location: Mojave Desert
Watch: GMT's
Posts: 43,050
|
If you like the Audi, buy it.
I chuckle a bit when folks say that an expensive car is expensive to repair... of course it is. That doesn't make it a bad car, are only cheap cars worth repairs? Of course, these are the same folks that drop a couple grand on a Rolex service.
__________________
(Chill ... It's just a watch Forum.....) NAWCC Member |
31 May 2020, 01:49 AM | #18 |
2024 Pledge Member
Join Date: Apr 2008
Real Name: Rommel
Location: Toronto Canada
Watch: 116710LN
Posts: 8,973
|
It's totally your call! You must like the car a lot and should consider keeping it. I personally would feel more comfortable with a warranty but at least in this case you know the previous owner took good care of it
|
31 May 2020, 02:09 AM | #19 |
"TRF" Member
Join Date: Jun 2016
Location: USA
Watch: Rolex & Patek
Posts: 1,436
|
If you like it, keep it! Nice things cost a little more to maintain.
It's pretty easy to check your contract or call the leasing company to get the residual + buyout price. Sometimes the lower miles make it worth buying out. |
31 May 2020, 02:17 AM | #20 |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
I will look at my contract today for the buyout price.
|
31 May 2020, 02:29 AM | #21 |
"TRF" Member
Join Date: Jun 2016
Location: USA
Watch: Rolex & Patek
Posts: 1,436
|
To buyout early, it will be the residual plus the remaining payments.
Also consider, depending on your location, you may need to pay sales tax, title, and registration. Its currently registered to the finance company. |
31 May 2020, 03:15 AM | #22 |
Banned
Join Date: Apr 2020
Location: here AND there...
Posts: 2,240
|
|
31 May 2020, 03:26 AM | #23 |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
My buyout is $26.5K. I could buy the Audi or a new Accord for about the same price. I have preferred the Audi. My two previous cars were Honda Accords for 10 years, about 200K miles on each. But I am semi-retired for the last two years and do far less driving.
|
31 May 2020, 03:42 AM | #24 |
"TRF" Member
Join Date: Dec 2011
Location: Marietta, GA
Posts: 3,248
|
Absolutely nothing wrong with it, but Audi and Volkwagen mislead customers on a diesel emission claim, so they offered to buyback cars from certain period. I really debated if I wanted to give it up, but in the end the amount offered was far more than the car was worth.
|
31 May 2020, 05:10 AM | #25 | ||
Banned
Join Date: May 2012
Real Name: CJ
Location: Kashyyyk
Watch: Kessel Run Chrono
Posts: 21,113
|
Quote:
Quote:
My sources tell me the residuals are too generous and you’ll be able to buy that same car back for 5-15% less as a cpo and you get additional warranty and a lower to zero APR if you want to invest your cash. Unless you love the car, it makes little to no sense unless it’s also a rarity or has amazing resale; recent Audi’s are neither in my opinion. |
||
31 May 2020, 05:13 AM | #26 |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
Has anyone extended the lease for a year? Car would still be under warranty. Worth it financially? Amortizes the money I put down for another year. Would it cost less per month than I pay now?
|
31 May 2020, 05:17 AM | #27 | |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
Another idea.
Quote:
|
|
31 May 2020, 05:17 AM | #28 | |
Banned
Join Date: May 2012
Real Name: CJ
Location: Kashyyyk
Watch: Kessel Run Chrono
Posts: 21,113
|
Quote:
I’d wait until 6mo out if that’s what you’re considering, now. They’ll come to you to keep it or extend it. They don’t want the car back. They want to sell new. |
|
31 May 2020, 05:19 AM | #29 |
Banned
Join Date: May 2012
Real Name: CJ
Location: Kashyyyk
Watch: Kessel Run Chrono
Posts: 21,113
|
|
31 May 2020, 05:52 AM | #30 |
"TRF" Member
Join Date: Jul 2010
Location: USA
Watch: Good ones
Posts: 8,149
|
Thanks!
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.