View Full Version : 2013 S4 lease reaching maturity - Buyout?
kasher_khan
06-15-2015, 09:13 AM
I have a 2013 S4 that was leased 36k/3yrs. I have less than two months left on my lease. I have not heard anything from Audi FS, about any inspection scheduling or buyout option offer. The paperwork as an amount listed ($35k). Is that the buyout number? Also in VA I believe you don't have to pay sales tax again if the original owner buys the car. can someone conform this.
I was initially planning to turn in the car and order a 2016 m3 (which I already have an allocation for). However I recently tested drove a CPO 991 Porsche (base with 6mT) and I fell in love. The F80 m3 is a nice car but after driving it I didn't get the goose bumps I got I first drove the S4. It seems like a natural progression. A little faster, a little more technology (the interior with extended leather is still just comparable to my S4 imho). The Porsche had me breathless after the test drive (And I have driven a 996 Carrera S before).
So now I have new plan. Keep the S4 as the DD (family car - I have a 3yr old) And get the Porsche as a weekend toy. The question is when is Audi going to send me the paperwork. I want to make sure I arrange for financing etc in time (refinance with my credit Union). Also wanted to know what defects they can point out with the car. I understand that there is a small fee regardless of whether i turn it in or buyout. I am right at the 34k miles. The car did have the front passenger door painted and replaced due to a big scratch. Also the front bumper was repainted and some work was done on the front suspension to fix a broken tie road (due to a snow skidding accident). I am wondering if this issues would hurt me when I try to resell the car on my own down the line.
Any advice or suggestions would be much appreciated.
RickFLS4
06-15-2015, 09:24 AM
There shouldn't be any need for an inspection if you buy out. I'd contact AFS and ask about buy out process. Where I live (FL) I actually need to go into a dealer to complete the buyout - AoA can't do it directly they tell me, but it is a state-by-state thing.
Sales tax is also state-by-state and if your state made you pay sales tax upfront on the lease as if you bought the car I can't imagine you'd need to pay it again, but you should be able to confirm via AFS.
My current thinking is similar to your's - buy out my 2013 towards the end of this year (lease ends in Jan.), use it as a DD and have another car for weekends / fun. I drive too many miles (15k - 20k / year) and don't like the maintenance costs, depreciation or perceived drop off in comfort for daily driving from something more expensive. Then again, I can change my mind tomorrow...
babyblues4
06-15-2015, 09:26 AM
I would just reach out to them and get a discussion started. Call Audi Finance or check out your details @:
https://www.audifs.com/Authentication/Login
chaos2984
06-15-2015, 10:36 AM
I would just reach out to them and get a discussion started. Call Audi Finance or check out your details @:
https://www.audifs.com/Authentication/Login
This right here. If you log on there is an option there to get your buyout price. As far as your taxes go, most states just collect the tax for the portion you were originally going to use the car. And if you buy it out you pay the rest when you buy it out. Up here in MD we have to pay full sales tax for leases even if its just 2 3 or 4 years we have to pay it on the total price of the car. Its lame but if you buy out its fine.
I would call the dealer for the sales tax as its a state by state case. The dealer will know if you ask them. Just ask to talk to one of the finance guys/ gals
bhvrdr
06-15-2015, 10:42 AM
If you have a good relationship with your local dealer you may want to find out if they would be willing to CPO the car for you as well. I dont have the current pricing but it used to be about $1800 to CPO a car and that may be worth it to you.
Mike
AudiDTMA4
06-15-2015, 10:47 AM
Had my wife's car CPO'd, well worth it to have the additional warranty for up to 6 years 100K as you have the DSG...or any Audi in general where most things breaking would be $500 minimum at the dealer.
With a CPO its just an $80 deducible.
kasher_khan
06-15-2015, 11:14 AM
the CPO is good advice. I will look into that. thanks. But I don't have to make that choice now right? I can still CPO the car before the original 4yr 48k warranty runs out? I am guessing at least six months before or something like that...
Note: i also have audicare, which should take care of the 45k service.
I am thinking I keep the car for alteast another year, and if the porsche plan doesn't materilize perhaps I'll sell it anyways. Maybe the new M2 or B9 might interest me then. Also rumor of the m3 competition pack might make that car a more appealing alternative.
Maitre Absolut
06-15-2015, 11:21 AM
leasing for 3 years then financing for what another 4? makes no financial sense to me.
anyways i would wait until you receive a call, dont play your cards right away. Let them offer something first (maybe less than the full buyout if they are having trouble getting that price at auction)
mehware
06-15-2015, 11:28 AM
leasing for 3 years then financing for what another 4? makes no financial sense to me.
anyways i would wait until you receive a call, dont play your cards right away. Let them offer something first (maybe less than the full buyout if they are having trouble getting that price at auction)
This ^^^
RhythmAddict
06-15-2015, 11:32 AM
This ^^^
+1. Isn't the buyout based on the msrp (eg, not your discounted price...assuming you got a discount)
Sent from my SCH-I535 using Tapatalk
RickFLS4
06-15-2015, 11:37 AM
leasing for 3 years then financing for what another 4? makes no financial sense to me.
anyways i would wait until you receive a call, dont play your cards right away. Let them offer something first (maybe less than the full buyout if they are having trouble getting that price at auction)
The buyout = residual value in the contract. It is already set.
You can buy the car out of the lease with cash or finance over a period of 2-3 years, which would be in line with how most people finance when purchasing new (total 5-6 years).
kasher_khan
06-15-2015, 01:47 PM
leasing for 3 years then financing for what another 4? makes no financial sense to me.
anyways i would wait until you receive a call, dont play your cards right away. Let them offer something first (maybe less than the full buyout if they are having trouble getting that price at auction)
I agree. But I don't think there is a better option out there for 35k (my residual value) in the market. The car was 60K MSRP and I got it for 55K. So there is some equity there already. Even if I turned around and sold the car i shoudl still get a few grand more for it. Similar cars are selling for high 39K private party and higher still at dealers. Financing the car would allow me to make a move to another car when I am ready. I will also be taking it to carmax in a few days to see what the bare minimum value of the car is ( i expect them to make an offer 4k below market).
I do agree that wait till Audi contacts me is the best way. Thats why i was asking if they reach out you couple of months in advance. I was wondering if I might have missed their mails.
Maitre Absolut
06-15-2015, 02:16 PM
The buyout = residual value in the contract. It is already set.
You can buy the car out of the lease with cash or finance over a period of 2-3 years, which would be in line with how most people finance when purchasing new (total 5-6 years).
We know the residual is set. The point is, it costs money to take the car back, prep and send it to auction. If the market is below the residual its in their interest to make an offer to the current owner.
I'm not saying its their general practice but i've seen it happen with another manufacturer.
Regardless, they should be calling to get him into another lease with incentives so i'd wait to hear those first.
The Fat Kid
06-15-2015, 02:38 PM
Try the VIN on Carfax? That will give you a better idea of the car's value.
RickFLS4
06-15-2015, 03:01 PM
We know the residual is set. The point is, it costs money to take the car back, prep and send it to auction. If the market is below the residual its in their interest to make an offer to the current owner.
I'm not saying its their general practice but i've seen it happen with another manufacturer.
Regardless, they should be calling to get him into another lease with incentives so i'd wait to hear those first.
According to OP it sounds like resale market is well above buyout so I would expect the ability to negotiate a lower buyout to be very limited / non existent.
I also don't see an issue with calling AFS or logging in online to find out the lease buyout amount and next steps in process. AFS customer incentives are on the AoA website and it is up to a dealer to contact him with a deal on a new car. If he wants to wait for that, that's fine too.
Dr GP
06-15-2015, 04:08 PM
leasing for 3 years then financing for what another 4? makes no financial sense to me.
anyways i would wait until you receive a call, dont play your cards right away. Let them offer something first (maybe less than the full buyout if they are having trouble getting that price at auction)
It doesn't make financial sense if you know you are going to buy the car at the inception. But leasing gives you options. OP can NOW decide if he wants to buy the car or not, based on his situation 3 yrs down the road and his driving experience. That does make sense to many. And in most makes of cars, when you get to lease end, the residual is set so high to keep the lease payments low, the only financially sound decision is to give the car back . Since the buyout is usually more than the car is worth. Not usually the case with Audi.
Maitre Absolut
06-15-2015, 04:15 PM
It doesn't make financial sense if you know you are going to buy the car at the inception. But leasing gives you options. OP can NOW decide if he wants to buy the car or not, based on his situation 3 yrs down the road and his driving experience. That does make sense to many. And in most makes of cars, when you get to lease end, the residual is set so high to keep the lease payments low, the only financially sound decision is to give the car back . Since the buyout is usually more than the car is worth. Not usually the case with Audi.
That "option" of waiting costs $$$ in additional interest. He'll pay even more than if he had decided to purchase over 7 from the start (assuming financing for 4 which probably generates the same payments as his initial lease) - which is a ridiculous amortization to begin with
AudiDTMA4
06-15-2015, 05:33 PM
That "option" of waiting costs $$$ in additional interest. He'll pay even more than if he had decided to purchase over 7 from the start (assuming financing for 4 which probably generates the same payments as his initial lease) - which is a ridiculous amortization to begin with
His money, let him do what he likes.
kasher_khan
06-15-2015, 06:18 PM
guys thanks for all the useful input.
I really didn't mean for this to turn into a "should I lease or buy" thread. There are clearly advantages to both. The purpose of this thread was to solicit advice on the best actions to take when exercising the lease buyout options. I have never done that before so I had some curiosity. What probably is the bottom line is that after owning the S4 for three years and dealing with some technical issues (steering, suspension etc), I still like the car enough to keep it when I clearly have the option to let it go. That should give comfort to any new people trying to get into the car. Also the fact that the B9 still a ways out and the 2016 model is still essentially the same car I got in 2012 is a situation that works in my favor too. I still feel like I driving a brand new car. The 340i and M3 are good alternatives, but now I have a new game plan, which hopefully would ultimately lead to a porsche in my gagarage and I can skip the intermediate transition \\M :)
skeelo
06-15-2015, 06:36 PM
...I can skip the intermediate transition \\M :)
Not a bad intermediate transition if you ask me.
I am in a similar situation with my lease coming due shortly. I cross shopped the S6 and SRT GC, but believe it is best to stay in the S4 a bit longer since I am so ahead of mileage (at 25k on 36k and project being at 29k by lease end) vs. giving the car back. Worst case I will sell outright as it sits and should be able to pocket a bit when it is all said and done.
chaos2984
06-15-2015, 06:53 PM
leasing for 3 years then financing for what another 4? makes no financial sense to me.
anyways i would wait until you receive a call, dont play your cards right away. Let them offer something first (maybe less than the full buyout if they are having trouble getting that price at auction)
Yea deff don't do this. If you wait for them to call you its going to be probably last min to schedule the turn in. And if they don't call it will be your fault since you weren't up on it. I had to be proactive with my wife's rav4 and call them to schedule the inspection and such. It was just some random guy that came out and inspected the car from Toyota Financial. Sometimes waiting doesn't pay off.
Johnnycash
06-15-2015, 07:55 PM
first off you should get something in the mail from afs, you will pay a disposition/acquisition fee, only way to avoid this charge is if you lease a new car or buy one and the dealer takes your leased car on trade...
there will be NO negotiations on the the residual/buyout. LOL
its in your contract, im assuming you kept your paperwork, if not call afs and get the payoff, call your bank/credit union, have them run your credit app, assuming you get approved, they wire the funds to afs, you own the car. easy peezy
if you want to turn the car in and its in shitty condition, you will be on the hook financially for any damages above and beyond a certain threshold, ie 1k, so if the car has bald tires, a dent in the bumper, and cigarette burns in the interior, expect to get a bill in the mail...
kcrunch
06-15-2015, 07:58 PM
I have a 2013 S4 that was leased 36k/3yrs. I have less than two months left on my lease. I have not heard anything from Audi FS, about any inspection scheduling or buyout option offer. The paperwork as an amount listed ($35k). Is that the buyout number? Also in VA I believe you don't have to pay sales tax again if the original owner buys the car. can someone conform this.
I was initially planning to turn in the car and order a 2016 m3 (which I already have an allocation for). However I recently tested drove a CPO 981 Porsche (base with 6mT) and I fell in love. The F80 m3 is a nice car but after driving it I didn't get the goose bumps I got I first drove the S4. It seems like a natural progression. A little faster, a little more technology (the interior with extended leather is still just comparable to my S4 imho). The Porsche had me breathless after the test drive (And I have driven a 996 Carrera S before).
So now I have new plan. Keep the S4 as the DD (family car - I have a 3yr old) And get the Porsche as a weekend toy. The question is when is Audi going to send me the paperwork. I want to make sure I arrange for financing etc in time (refinance with my credit Union). Also wanted to know what defects they can point out with the car. I understand that there is a small fee regardless of whether i turn it in or buyout. I am right at the 34k miles. The car did have the front passenger door painted and replaced due to a big scratch. Also the front bumper was repainted and some work was done on the front suspension to fix a broken tie road (due to a snow skidding accident). I am wondering if this issues would hurt me when I try to resell the car on my own down the line.
Any advice or suggestions would be much appreciated.
You have nice taste in cars - I also have a 2013 S4 with DSG and just bought a 2014 Cayman S with 6MT for my fun/weekend car. The 981s are a nice complement to the S4 - both sporty, but the S4 better as a sporty daily driver and the 981 is just so light weight and engaging. Enjoy.
kasher_khan
06-15-2015, 08:16 PM
You have nice taste in cars - I also have a 2013 S4 with DSG and just bought a 2014 Cayman S with 6MT for my fun/weekend car. The 981s are a nice complement to the S4 - both sporty, but the S4 better as a sporty daily driver and the 981 is just so light weight and engaging. Enjoy.
Ya I got the 981 and 991 mixed up. I was talking about a 981 2013 Carrera with Mannual. I test drove a Cayman GTS as well and by far that is the best Porsche I have ever driven (I have only ever drive 3 :). But with a 3ys old toddler the limited practicality of the back seat is needed. The car I am looking at is CPO and for 69K w 100K warranty (new MSRP of 94K) it is not a not bad deal. Almost the same as what the F80 would cost. But then again all good things in life to those who can be patient. I have waited my whole like to own a Porsche, a year or too to be in a better position won't hurt. The plan is to pay off the S4 and then finance the Porsche - which in a next few months more CPO examples should be available of to chose from.
Note: the Buyout is 35k, I have the paperwork. And the fee is $350 (not so bad). The car is in tip top shape over all with the tires almost having 70% tread.
MVR 155
06-15-2015, 10:00 PM
Sorry if this is any kind of hijack but I noticed the suggestion of having the car CPO'd. Is this an option if you own the car? I purchased mine, put down a big chunk of $$$ and will have it paid off in just over 3 years (took a 5 year loan but pay extra monthly). I have owned the car a little over 2 years and only put about 8-9K/year on it. I would strongly consider keeping it if I could pay ~$1800 to CPO it. Next time around I plan to lease as I would not keep a car like this outside of factory warranty. In about 2 years I will be looking to buy a new SUV to replace my 2008 H2 and I'm thinking of trading the Audi and that in on a new Yukon Denali which between the Hummer (which is paid off and under 50K miles) and the S4 I can just about pay cash for. I would just lease the new Audi, probably go S6 next time around as we just had a baby and I could use the extra space. With this plan I would just have one payment on the lease........ Would love to get your thoughts???? Again.... I'm sorry if this is a hijack but it really made me think about what to do down the road..... thanks to the OP for a solid question!!!!
kcrunch
06-15-2015, 11:06 PM
Ya I got the 981 and 991 mixed up. I was talking about a 981 2013 Carrera with Mannual. I test drove a Cayman GTS as well and by far that is the best Porsche I have ever driven (I have only ever drive 3 :). But with a 3ys old toddler the limited practicality of the back seat is needed. The car I am looking at is CPO and for 69K w 100K warranty (new MSRP of 94K) it is not a not bad deal. Almost the same as what the F80 would cost. But then again all good things in life to those who can be patient. I have waited my whole like to own a Porsche, a year or too to be in a better position won't hurt. The plan is to pay off the S4 and then finance the Porsche - which in a next few months more CPO examples should be available of to chose from.
Note: the Buyout is 35k, I have the paperwork. And the fee is $350 (not so bad). The car is in tip top shape over all with the tires almost having 70% tread.
The latest 911 Carrera is the 991. Cayman/Boxster is 981. I have young kids as well, which is why I keep the S4 for DD, hauling kids etc. I drove several 911s before settling on the Cayman S. The Cayman S (or GTS) has the same 3.4l flat 6 engine as the base 991 Carrera, but the Cayman S is lighter and benefits from mid-engine balance. I think the general consensus is that the Cayman is more of an enthusiast/drivers car vs the 911. But I certainly understand the draw to the 911 - it's a classic. And if you are talking a special 911 like the GT3, turbo etc there is no comparison with the Cayman - except for maybe the Cayman GT4!
I looked at the new M3/M4 as well. Looks like a great car, but it's just too big now and they styling is not my cup of tea. I still have a lot of love for BMWs and I'm hoping the M2 will get BMW back to it's roots.
lawaspen
06-16-2015, 05:29 AM
At the end of my 2012 lease, with $26,000 in repaired damage mind you, my dealer gave me $3500 for the car
RickFLS4
06-16-2015, 06:14 AM
Sorry if this is any kind of hijack but I noticed the suggestion of having the car CPO'd. Is this an option if you own the car? I purchased mine, put down a big chunk of $$$ and will have it paid off in just over 3 years (took a 5 year loan but pay extra monthly). I have owned the car a little over 2 years and only put about 8-9K/year on it. I would strongly consider keeping it if I could pay ~$1800 to CPO it. Next time around I plan to lease as I would not keep a car like this outside of factory warranty. In about 2 years I will be looking to buy a new SUV to replace my 2008 H2 and I'm thinking of trading the Audi and that in on a new Yukon Denali which between the Hummer (which is paid off and under 50K miles) and the S4 I can just about pay cash for. I would just lease the new Audi, probably go S6 next time around as we just had a baby and I could use the extra space. With this plan I would just have one payment on the lease........ Would love to get your thoughts???? Again.... I'm sorry if this is a hijack but it really made me think about what to do down the road..... thanks to the OP for a solid question!!!!
Not sure about CPO on a purchased car - would need to ask dealer or find someone here that has experience doing so. In general it works for leases because I believe you are technically buying it back from the certifying dealer, which is different than already owning the car. You can also check with FD-Warranty for pricing on a Fidelity extended warranty, which is the same (non-CPO) extended warranty sold by Audi dealers, but at a discounted price.
RickFLS4
06-16-2015, 06:27 AM
That "option" of waiting costs $$$ in additional interest. He'll pay even more than if he had decided to purchase over 7 from the start (assuming financing for 4 which probably generates the same payments as his initial lease) - which is a ridiculous amortization to begin with
This statement doesn't seem to factor in that leasing reduced the initial down payment $$$, which can now be used as a down payment for the buyout. Unless the interest rate in the lease is higher than the finance rate when new, there really shouldn't be that much financial difference overall between lease + buyout vs. purchase from the start, except you are doing it in 2 transactions instead of one. Audi does not susbsidize lease residuals like Japanese manufacturers or BMW. If you simply turn in an Audi at lease-end, you might be leaving money on the table. Trading in, selling or buying out are the only ways to capture any equity and avoid "overpaying" for the lease.
Bearing that in mind, I'm still not following the logic on what would compel someone buying out a lease to finance over another 4 years instead of 2-3. Also, in addition to benefits outlined by DrGP, leasing allows the self-employed to better match payments and depreciation deduction for tax purposes vs. a car purchased upfront. Nevertheless, since borrowing rates are quite low, one could argue avoiding auto loan interest isn't necessarily the best use of cash and if OP decides to finance over the 4 years you suggest it wouldn't be the end of the world.
kasher_khan
06-16-2015, 07:37 AM
At the end of my 2012 lease, with $26,000 in repaired damage mind you, my dealer gave me $3500 for the car
That is interesting. One of the things I did consider when making my choice to lease over finance. Other than the ability to switch cars more often, it gives you the peace of mind that paint\repairs and other damage will not have an affect on your ability to give it back. Worrying about diminished value is not a concern.
As I mentioned, my car had the front drivers side door replaced and repainted (due to small scratch that was too deep in the metal). Also the side skirt was painted. It cost about $2300. The second time the front bumper had to be repainted due to paint scratches. And the front tire rod had to be repaird. Total repair cost $2700. So exactly $5k in damages. Also since the car is brilliant black (and I do take it to car washes - not by choice). It has moderate amount of swirls. I made the mistake of taking it to the local detail guy a year or two ago and they did a "Buff Job". Which fixed my concerns with the water spots (lawn spray incident) but I wonder how much of the clearcoat they took off doing this. I would like to get a paint correction done if I keep the car but the estimates I have seen on the internet range from $500-$2000. I am not OCD about car dealing but if I am to live with the car long term, I would like to have a good professional take a look and give me an estimate about the paint condition before I make my final decision.
To that end, if anyone knows any good Detailers\Paint Correction experts in the NOVA (Tysons Corner\Dulles) area, please PM me or let me know.
chaos2984
06-16-2015, 08:36 AM
Sorry if this is any kind of hijack but I noticed the suggestion of having the car CPO'd. Is this an option if you own the car? I purchased mine, put down a big chunk of $$$ and will have it paid off in just over 3 years (took a 5 year loan but pay extra monthly). I have owned the car a little over 2 years and only put about 8-9K/year on it. I would strongly consider keeping it if I could pay ~$1800 to CPO it. Next time around I plan to lease as I would not keep a car like this outside of factory warranty. In about 2 years I will be looking to buy a new SUV to replace my 2008 H2 and I'm thinking of trading the Audi and that in on a new Yukon Denali which between the Hummer (which is paid off and under 50K miles) and the S4 I can just about pay cash for. I would just lease the new Audi, probably go S6 next time around as we just had a baby and I could use the extra space. With this plan I would just have one payment on the lease........ Would love to get your thoughts???? Again.... I'm sorry if this is a hijack but it really made me think about what to do down the road..... thanks to the OP for a solid question!!!!
What you said there makes no sense when you are going to buy a GM product. I worked for a Chevy dealer for 5 years and man those things are junk. They have so many issues its not even funny. My audi's were way more reliable than GM's were. GM's have crazy engine issues. My dealer we were probably doing 10-20 heavy engine repairs a month. From replacing pistons and rings to camshafts to timing chains. It wasn't just one engine it was practically just about all of them. I will say the only engine that didn't have any issues are the LS series engine like in the vette and Camaro. All the other v-8's v6's and 4 cyl had lots of issues. And it wasn't a matter of if it was going to happen it was when will it happen.
Back to topic. Honestly its his money and depending on what he wants to due down the road. Fiancing it out another 4 years is fine if he plans to keep the car for 7-10 years. I myself are on the same plan. But a little different. Im going to buy mine out at about 1 1/2 years and get a 4 year loan. The only reason im going to buy it out is because my state makes you pay full tax for the agreeded upon price of the car not the just the portion you use.
kasher_khan
06-16-2015, 09:09 AM
The only reason im going to buy it out is because my state makes you pay full tax for the agreeded upon price of the car not the just the portion you use.
Same here for VA. I paid tax on the full price of the car at the time of lease. So when I buy it out that is one less expense. We have this nice little thing called property tax that I still have to worry about but I'll save that debate for another thread.
kasher_khan
06-17-2015, 06:42 AM
update: so i pulled the carfax report on my car last night, despite 2 separate accidents w 2k and 3k in damages repaired by a reputable body shop and insurance claims for both. My car has a "green mark for accident free". I don't know if I should feel happy or sad... As long as I don't sell my car to forum members here, I should be good to go. Let's see what Carmax thinks about the paint repair. Again I wasn't concerned about such issues with the lease but if I am going to buy it out, I want to make sure there isn't significant diminished value at resale.
Goes to show you that PPI and checking out the car in person is very very important. I am going to have that done for the CPO Porsche that I have been looking into even though it has only 13k miles and the paint looks immaculate.
chaos2984
06-17-2015, 08:31 AM
well I wouldn't tell anyone about the accident unless its a buddy or fourm person. Since your carfax is clean I wouldn't bring it up
RickFLS4
06-17-2015, 08:50 AM
Were there police reports for the accidents?
MVR 155
06-17-2015, 09:16 AM
What you said there makes no sense when you are going to buy a GM product. I worked for a Chevy dealer for 5 years and man those things are junk. They have so many issues its not even funny. My audi's were way more reliable than GM's were. GM's have crazy engine issues. My dealer we were probably doing 10-20 heavy engine repairs a month. From replacing pistons and rings to camshafts to timing chains. It wasn't just one engine it was practically just about all of them. I will say the only engine that didn't have any issues are the LS series engine like in the vette and Camaro. All the other v-8's v6's and 4 cyl had lots of issues. And it wasn't a matter of if it was going to happen it was when will it happen.
Back to topic. Honestly its his money and depending on what he wants to due down the road. Fiancing it out another 4 years is fine if he plans to keep the car for 7-10 years. I myself are on the same plan. But a little different. Im going to buy mine out at about 1 1/2 years and get a 4 year loan. The only reason im going to buy it out is because my state makes you pay full tax for the agreeded upon price of the car not the just the portion you use.
So you worked at a Chevy dealer but you think the only vehicles that had LS based engines were the Camaros/Corvettes? All of the V8 engines were LS based within a couple years or so of each other from 1997 up until now as they are just switching over to the Gen V. For instance the 1997 Corvette had an LS1 but the 1997 Camaro still had an LT-1 as the Camaro didn't get the LS1 until 1998). The gen III and gen IV small blocks were essentially all LS based engines. These engines have a terrific reliability record..... hell even the gen II, LT based engines were very reliable (think about how many caprice cabs/police cars were on the road for so many years.... there are still some out there). Tons of Silverados/Tahoes/Suburbans with the LT engines still on the road. I have owned a bunch of GM cars and while I have had my share of issues (none of them major powertrain related) they overall have been reliable vehicles and have served me well. To call them complete junk tells me that you are just one of those people who think anything that your not driving is junk or you are just misinformed...... Either way I'd say you are not a reliable source of information. Audi's reliability record up until the last half a decade was not anything to brag about. I need a full size SUV or pickup (on a real truck frame not some unibody crossover) as I haul a lot of stuff around and tow multiple trailers so I'm looking at basically a Ford or GM product to fit my needs. I have my H2 currently covered under a GMPP major guard plan so I'm still under a full factory bumper to bumper. I enjoy piece of mind so my DD vehicles need to be under warranty.
Johnnycash
06-17-2015, 10:07 AM
the LT1 350 motor is a great engine with excellent durability!
kasher_khan
06-17-2015, 11:19 AM
Were there police reports for the accidents?
Nopes. One was a minor scuff when some one else who wasn't paying attention came in contact with my car causing a scratch that couldn't be repaird with paint so they replaced the door and repainted it. The other was my loosing control on ice and hitting the curb. I don't know if it's the minor accidents that don't get reported or something...
RickFLS4
06-17-2015, 12:15 PM
Nopes. One was a minor scuff when some one else who wasn't paying attention came in contact with my car causing a scratch that couldn't be repaird with paint so they replaced the door and repainted it. The other was my loosing control on ice and hitting the curb. I don't know if it's the minor accidents that don't get reported or something...
I think most accidents that involve police reports show up on CarFax. Insurance claim without police report is sometimes reported, sometimes not - not sure why / why not something shows up. Paying out of pocket normally avoids CarFax (can be confirmed with body shop in advance).
S4 00 2.7
06-17-2015, 12:45 PM
the LT1 350 motor is a great engine with excellent durability!
I would recommend the LS1 > LT1
Frinkferta
06-17-2015, 01:02 PM
SC LS motor is going in the Chevelle one day...Until then, I'm going to enjoy my SC 3.0.
kasher_khan
06-19-2015, 12:06 PM
Guess, who just called. The leasing company! They wanted to schedule an appoint for an inspection :)
I guess I will follow through to see what they think the damages are (if any). Then I'll call to see what the buyout process is. I still have 52 days before lease expires.