Lease assumption - 15' S4 Prestige - Sepang Blue - Loaded

[MerrittS4]

I have up for lease take over my 2015 Audi S4 Prestige in Sepang Blue Metallic. The interior is the upgraded full black Fine Nappa Leather package. This car is absolutely mint and goes from garage to garage. Non smoker and never tracked. This car is fully loaded with 7 speed dual clutch transmission, Carbon fiber interior trim, upgraded 19" Audi Sport® 5-segment-spoke design wheels (Silver finish) with 255/35 summer performance tires, driver assistance package, sport differential, Adaptive damping suspension, rear side airbags, and much much more! This cars MSRP was over $63,000. I put down $4,500 to get this monthly payment so low.. You can simply take it over by completing a credit application through Audi Financial which I will cover the charge for once you are approved. I can also throw in a set of VMR V710 Winter wheels 18" to go with it.

monthly payment: $810.95/mo

Current Miles 13,500
Remaining Miles 16,500
Miles Per Month 660
Leasing Company Audi Financial Services
Months Remaining 25
Est. Lease End Date 2/1/2018
Opt. Lease End Buyout $33,539.40

swapalese link: http://www.swapalease.com/lease/deta...x?salid=929422

IMG_5928.JPGIMG_5866.JPGIMG_5867.JPGIMG_5868.JPGIMG_5865.JPG

[chaos2984]

Sounds like you buried yourself in the lease with the millage. Nice car but you might want to try to trade it in outright than trying to get someone trying to take over the lease. Your screwing someone already since its only January and your well over the 10K miles a year limit. Just go on AFS and get a Lease payoff quote and see what a dealer or CarMax will give you for trade in. I think that's your best bet.

[Batman0424]

I've swapped 2 BMWs using swap-a-lease and the process was very smooth. However, a word of caution, when I last looked into a lease swap with my B7 A4, AFS would allow the swap BUT they would not remove me as being liable for the lease. The new person would assume the lease, but if they did not pay, I would be accountable. I decided to keep the A4 as I was not comfortable with the liability resting on me.

I took a quick look on the swap-a-lease site and the site does indicate that with AFS the original lessee remains liable. Unless you swap this to someone you would co-sign a loan for, I would stay away from the swap. You don't want to have this liability sitting with you until the lease is complete (including any additional charges at lease turn in).

[MerrittS4]

Sounds like you buried yourself in the lease with the millage. Nice car but you might want to try to trade it in outright than trying to get someone trying to take over the lease. Your screwing someone already since its only January and your well over the 10K miles a year limit. Just go on AFS and get a Lease payoff quote and see what a dealer or CarMax will give you for trade in. I think that's your best bet.

Yeah sort of. I already have a new M3 on order.. was hoping to get rid of this before then.

I've swapped 2 BMWs using swap-a-lease and the process was very smooth. However, a word of caution, when I last looked into a lease swap with my B7 A4, AFS would allow the swap BUT they would not remove me as being liable for the lease. The new person would assume the lease, but if they did not pay, I would be accountable. I decided to keep the A4 as I was not comfortable with the liability resting on me.

I took a quick look on the swap-a-lease site and the site does indicate that with AFS the original lessee remains liable. Unless you swap this to someone you would co-sign a loan for, I would stay away from the swap. You don't want to have this liability sitting with you until the lease is complete (including any additional charges at lease turn in).

Yeah i know.. im sort of torn on this as the new leaser would have to be approved by Audi Financial.. i know you need near A1 credit to get approved so chances are this person would be responsible.

[hotleadsingergu]

Yeah sort of. I already have a new M3 on order.. was hoping to get rid of this before then.



Yeah i know.. im sort of torn on this as the new leaser would have to be approved by Audi Financial.. i know you need near A1 credit to get approved so chances are this person would be responsible.

Wait...so you ordered up a new car before trying to sell your old one? Sounds terrible.

[Dr GP]

Swapping for a BMW is easy. Swapping for an Audi is a nightmare. Plus the original leaser's name stays on the lease And could be responsible for any excessive wear or extra mileage that the new leaser might accrue. PLUS the process takes forever. Know this from previous experience. Traded the leased car in after it sat on Leasetrader for months. BTW, you could lease a new 2016 S4( perhaps not fully loaded but very nicely equipped )for a lot less than what you are paying. Not trying to rain on your parade. Just trying to keep it real. Alternatively, you could sell your car to Carmax if BMW dealer can not get a reasonable buy out from AFS, which is likely.

[MerrittS4]

Wait...so you ordered up a new car before trying to sell your old one? Sounds terrible.

I traded the S4 in to get the M3. The M3 wont be here for another month so i figured let me see if i can get out of it and save myself the negative equity with the trade. As far as selling the S4, the buyout is more then what one could get a used one for. If i get rid of it i do.. if i trade it in whatever.

[MerrittS4]

Yeah i hear ya.. its fine.. ill just continue with my trade in deal.

[LordMagnet]

Is that a 36 month total lease?

[Dr GP]

What area of the country are you trading it. Looks like a nice car.

[pdqgp]

If you need help evaluating a lease on the next one let me know. I grew up in the business as my family had dealerships. This one you listed was not a good deal. No crapping on your thread but just noting the reality. Be careful next time. Don't put ANY money down either.

[schirm]

Yeah sort of. I already have a new M3 on order.. was hoping to get rid of this before then.



Yeah i know.. im sort of torn on this as the new leaser would have to be approved by Audi Financial.. i know you need near A1 credit to get approved so chances are this person would be responsible.

I know you need a 650 or higher credit score to lease an Audi. That's not A1

[MerrittS4]

Is that a 36 month total lease?

Yes

What area of the country are you trading it. Looks like a nice car.

CT

If you need help evaluating a lease on the next one let me know. I grew up in the business as my family had dealerships. This one you listed was not a good deal. No crapping on your thread but just noting the reality. Be careful next time. Don't put ANY money down either.

Thank you.

[LordMagnet]

If you need help evaluating a lease on the next one let me know. I grew up in the business as my family had dealerships. This one you listed was not a good deal. No crapping on your thread but just noting the reality. Be careful next time. Don't put ANY money down either.

I'm very interested in hearing your reasoning for not putting any money down, if you don't mind explaining. In my experience putting any amount down has been a vital part of the lease negotiation process.

[doug97gxe]

I'm very interested in hearing your reasoning for not putting any money down, if you don't mind explaining. In my experience putting any amount down has been a vital part of the lease negotiation process.

the thought process is that if anything happens where you don't go through with the full lease term you lose that down payment.. so they advise in keeping that down payment handy and using it with the bigger monthly payment

[LordMagnet]

the thought process is that if anything happens where you don't go through with the full lease term you lose that down payment.. so they advise in keeping that down payment handy and using it with the bigger monthly payment

That makes a lot of sense. I guess I've never gone into a lease thinking something would happen mid ownership... but I guess life happens... shit happens. But I'm sitting happy with a monthly payment for my S5 of under $600/mo.

[KRp220]

I'm very interested in hearing your reasoning for not putting any money down, if you don't mind explaining. In my experience putting any amount down has been a vital part of the lease negotiation process.

money down on a lease does not build any equity in the car like a loan would. A) you don't own it so you can't build equity anyway B) you're just buying down your payments C) you still owe the "fixed" residual at the end of the term, which is not effected by the amount of money you put down

with that being said, if you feel better putting the money down to lower your payment to a point where its more comfortable for you, then thats your choice

[schirm]

That makes a lot of sense. I guess I've never gone into a lease thinking something would happen mid ownership... but I guess life happens... shit happens. But I'm sitting happy with a monthly payment for my S5 of under $600/mo.

How much did you put down?

[doug97gxe]

How much did you put down?

i would say $15k - $17k

[schirm]

i would say $15k - $17k

No way lol

[doug97gxe]

No way lol

well that's my assumption with no trade in.. if he had a trade in then it would be much lower

[LordMagnet]

money down on a lease does not build any equity in the car like a loan would. A) you don't own it so you can't build equity anyway B) you're just buying down your payments C) you still owe the "fixed" residual at the end of the term, which is not effected by the amount of money you put down

with that being said, if you feel better putting the money down to lower your payment to a point where its more comfortable for you, then thats your choice

Thanks for the info. I guess it's just common sense stuff, makes sense.

How much did you put down?

$4500 on a 42 month lease.

[schirm]

i would say $15k - $17k

Thanks for the info. I guess it's just common sense stuff, makes sense.



$4500 on a 42 month lease.

Thanks, yeah I did not think it was 15K down.

[schirm]

I can also throw in a set of VMR V710 Winter wheels 18" to go with it.
]

Want to sell the wheels separately ?

[KRp220]

Thanks for the info. I guess it's just common sense stuff, makes sense.



$4500 on a 42 month lease.

thats not THAT much.... but just another tidbit of info for future reference, while the payments may be lower on 42 months, you typically get nailed with the residual as its significantly lower than the 36 mo. 36 mo tends to be the sweet spot. i'm sure different manufacturers/lenders have different numbers, but definitely worth asking and comparing next time around

based on your sig, nicely sorted car BTW. very OEM+

[MerrittS4]

Yes i am willing to sell the wheels seperate. You want wheels and snow tires or just wheels?

- - - Updated - - -

Want to sell the wheels separately ?

Yes i am willing to sell the wheels seperate. You want wheels and snow tires or just wheels?

[schirm]

Yes i am willing to sell the wheels seperate. You want wheels and snow tires or just wheels?

- - - Updated - - -



Yes i am willing to sell the wheels seperate. You want wheels and snow tires or just wheels?

I am interested in both options.


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[Sp149]

$810 is pretty damn high for a lease payment this late into the platform too....

[AnTarbh]

Just as a side note. Read your "cash due at signing" breakdown thoroughly because it might not really be a down payment (cap cost reduction):

Cash due at signing typically with AFS:

- Tax
- License Fees
- Acquisition Fee
- Dealer/Doc Fee
- First month payment
- Security Deposit (I've never seen this, but I guess less qualified buyers might have a security deposit)


You don't want to bundle your tax or fees into your monthly payments, you would essentially be paying lease-rent on these items, which would makes your lease deal worse. Also when you lease with Audi, and buy AudiCare at the time as lease you will get 1% back on your lease residual cost fyi.

[LordMagnet]

thats not THAT much.... but just another tidbit of info for future reference, while the payments may be lower on 42 months, you typically get nailed with the residual as its significantly lower than the 36 mo. 36 mo tends to be the sweet spot. i'm sure different manufacturers/lenders have different numbers, but definitely worth asking and comparing next time around

based on your sig, nicely sorted car BTW. very OEM+

Thanks for the kind words and advice. Yeah, for personal reasons I just needed that monthly payment at a certain sweet spot, term length and down payment be damned.

I lost a lot of negotiating leverage since they couldn't find a 6MT S5 in the state of Connecticut, they needed to ship one from out of state. Limiting myself cost me.

[BoostEasy]

$810 is pretty damn high for a lease payment this late into the platform too....

It does seem a little high, like he bought from Audi of Greenwich CT high.

There's a lot of variables (cap cost, mileage allowance, audicare etc) and everyone likes to think they got the best deal for reason x,y and z. Some dealers are just asses and won't part with the cars for less than well above invoice, at least that was my experience in CT in late 2013. I had to drive almost 2hrs to get a car in NJ because CT dealers were out of their minds on pricing.

When I was looking, Audi clearly was adjusting the residual upwards (counter-intuitively) literally almost month by month on leases. Meaning if you bought a 2014 in Sept 2013, the residual was prob in the mid-high 50s and as you got into mid-2014 not long before the 2015s arrived, then the residuals crept up around 60+%. So exactly what month you bought that same exact car had a large impact on your payment ($100 or so).

[jiggy2dmax]

It does seem a little high, like he bought from Audi of Greenwich CT high.

There's a lot of variables (cap cost, mileage allowance, audicare etc) and everyone likes to think they got the best deal for reason x,y and z. Some dealers are just asses and won't part with the cars for less than well above invoice, at least that was my experience in CT in late 2013. I had to drive almost 2hrs to get a car in NJ because CT dealers were out of their minds on pricing.

When I was looking, Audi clearly was adjusting the residual upwards (counter-intuitively) literally almost month by month on leases. Meaning if you bought a 2014 in Sept 2013, the residual was prob in the mid-high 50s and as you got into mid-2014 not long before the 2015s arrived, then the residuals crept up around 60+%. So exactly what month you bought that same exact car had a large impact on your payment ($100 or so).

FWIW, Audi of Greenwich got offered me the best deal out of many dealers in the Tri-state, which was very surprising.

With taxes upfront, no cap cost reduction, no trade, my payments are sub $600 a month. Terms were 36 month, 10k a year, 60kMSRP.

OP, beautiful car have the exact same one but with the two-tone Nappa.

[doug97gxe]

FWIW, Audi of Greenwich got offered me the best deal out of many dealers in the Tri-state, which was very surprising.

With taxes upfront, no cap cost reduction, no trade, my payments are sub $600 a month. Terms were 36 month, 10k a year, 60kMSRP.

OP, beautiful car have the exact same one but with the two-tone Nappa.

i see you're in queens.. did you try Audi of Fairfield as well? i know that's a little bit up 95 that you might have wanted to go.. they usually have the best deals in CT

[adk_audi]

Thanks for the kind words and advice. Yeah, for personal reasons I just needed that monthly payment at a certain sweet spot, term length and down payment be damned.

I lost a lot of negotiating leverage since they couldn't find a 6MT S5 in the state of Connecticut, they needed to ship one from out of state. Limiting myself cost me.

Amen! 6MT is dying. Forget about trying to get your preferred color and options. 99% of S' sitting on lots are DSG.

[doug97gxe]

Thanks for the kind words and advice. Yeah, for personal reasons I just needed that monthly payment at a certain sweet spot, term length and down payment be damned.

I lost a lot of negotiating leverage since they couldn't find a 6MT S5 in the state of Connecticut, they needed to ship one from out of state. Limiting myself cost me.

Amen! 6MT is dying. Forget about trying to get your preferred color and options. 99% of S' sitting on lots are DSG.

Got mine from NJ.. well i shopped for it and had my dealer bring it in from NJ .. other one i wanted was a Sepang in VA .. when i bought mine it was the only Ibis 6 MT available in the US .. i'm hoping the price goes up.. or depreciates less.. but i doubt it

[LordMagnet]

Amen! 6MT is dying. Forget about trying to get your preferred color and options. 99% of S' sitting on lots are DSG.

Yes indeed. I had about a 2 week wait for them to find my car and then take delivery. I bought the car sight unseen. I test drove both an automatic S5 and a manual S4 before making the decision though. Luckily it came with options that I'm pretty happy with.

[doug97gxe]

Yes indeed. I had about a 2 week wait for them to find my car and then take delivery. I bought the car sight unseen. I test drove both an automatic S5 and a manual S4 before making the decision though. Luckily it came with options that I'm pretty happy with.

when i was buying my car Danbury Audi had 1 black 6MT and Audi of Meadowlands had 1 black 6MT

[LordMagnet]

Got mine from NJ.. well i shopped for it and had my dealer bring it in from NJ .. other one i wanted was a Sepang in VA .. when i bought mine it was the only Ibis 6 MT available in the US .. i'm hoping the price goes up.. or depreciates less.. but i doubt it

I bought mine at Audi of Wallingford. I've been very happy with both their service and prices. Third Audi from them.

[doug97gxe]

I bought mine at Audi of Wallingford. I've been very happy with both their service and prices. Third Audi from them.

oh ok .. we got my wife CPO A5 from Audi Fairfield so when i went to get my S5 we went back there.. but i pretty much found my car myself and had them do the car swap

[LordMagnet]

when i was buying my car Danbury Audi had 1 black 6MT and Audi of Meadowlands had 1 black 6MT

A big problem was that I bought in June, the 15's were rolling off and the 16's were almost in, so everyone had limited quantities.