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  1. #1
    Active Member Four Rings GSS5's Avatar
    Join Date
    Jan 27 2010
    AZ Member #
    54076
    My Garage
    Cayenne%20X5
    Location
    Long Island, Queens, LA

    Question about selling my S5

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    Question for those in the know or have done this:

    I want to sell my S5. It's leased (exactly one year left) and the payoff is just right around $40k. I was going to trade it in but the highest any dealer offered was $37k and I think it's worth anywhere between $42-44k private party. If a dealer were to offer me $38.5k or more then I'd just swallow the difference out of convenience but $3k+ extra out of pocket just to get out of a lease is stupid. An Audi dealer offered to make my payoff were I to buy a car from them but I don't want another Audi. So..

    1. Is it even possible to sell my car to a private party without having to pay off the remainder of the lease out of pocket and getting the title on my own?

    2. If so - let's say that i find a private party buyer - can this transaction be facilitated directly between said buyer and AFS so that they (or their bank) can pay off AFS directly and obtain the title without having to do anything through me?

    3. If not - is such a transaction advisable where buyer pays me my asking price, I pay off AFS and keep the change, hand said buyer the keys and transfer the title when I get it in several weeks?

    4. Can this be done with a dealer acting as a middleman between myself and said potential buyer?

    If anyone's interested it's a 2014 S5 6MT Glacier white/Black nappa, 19.5k miles, nearly every option (Black optic, B&O, Sport diff, Side assist, Navigation, Nappa, Carbon inlays) with a $62.5K sticker. Tires and front pads replaced at ~15k miles, very well-maintained, always garaged, zero accidents and all factory paint. Only mods are AWE track exhaust, H&R street coilovers, spacers, Eurocode intake and tint. Still under factory warranty ie. no TD1. Car's in LA and has spent its entire life in SoCal.
    ig: gs.autogram

    '16 S5 3.0T S tronic / Glacier White / Black

    '14 S5 3.0T 6MT / Glacier White / Black

    '10 S5 4.2 6MT / Brilliant Black / Black

  2. #2
    Senior Member Three Rings d1amund's Avatar
    Join Date
    Oct 27 2014
    AZ Member #
    291224
    Location
    Park City, UT

    Question about selling my S5

    A closed end lease is nothing more than a loan with a balloon payment. I've sold and/or traded-in many closed end leases prior to the end of the lease; many were Audi and a few were out of state from me. It can be done via dealer trade, Carmax if you just want to dump it or via a private seller's bank.

  3. #3
    Active Member Four Rings GSS5's Avatar
    Join Date
    Jan 27 2010
    AZ Member #
    54076
    My Garage
    Cayenne%20X5
    Location
    Long Island, Queens, LA

    Quote Originally Posted by d1amund View Post
    A closed end lease is nothing more than a loan with a balloon payment. I've sold and/or traded-in many closed end leases prior to the end of the lease; many were Audi and a few were out of state from me. It can be done via dealer trade, Carmax if you just want to dump it or via a private seller's bank.
    gotcha. so it can be done through a buyer and their bank. dealer trade and carmax are out of the question because they only want to give me wholesale for my car, which leaves me a couple $k's in the hole. if i do private party i think i have a good shot at ending up with some extra cash in my pocket to put towards the next car.
    ig: gs.autogram

    '16 S5 3.0T S tronic / Glacier White / Black

    '14 S5 3.0T 6MT / Glacier White / Black

    '10 S5 4.2 6MT / Brilliant Black / Black

  4. #4
    Senior Member Three Rings d1amund's Avatar
    Join Date
    Oct 27 2014
    AZ Member #
    291224
    Location
    Park City, UT

    Question about selling my S5

    Quote Originally Posted by GSS5 View Post
    so it can be done through a buyer and their bank.
    Absolutely. In short, the buyers bank pays off your loan (what I think really happens in the background is they pay it off on your behalf and then flip back to the buyer for financing), buyer receives car, bank receives and holds title until the new owner pays it off or sells/trades it at a later date. There's very little involvement on your part; most the work is done between the two banks.

    Quote Originally Posted by GSS5 View Post
    if i do private party i think i have a good shot at ending up with some extra cash in my pocket to put towards the next car.
    Nothing wrong with that !

  5. #5
    Veteran Member Four Rings Chanman94's Avatar
    Join Date
    Jun 09 2014
    AZ Member #
    251087
    Location
    Calgary, AB, Canada

    How I bought my car was I wrote two bank drafts, one to pay off the lease to Audi, and the remainder to the seller. I went to the dealer with him, paid off the buyout on the lease. We signed a bill of sale, and I took the car right there. Then I registered the car once Audi sent us the lien release for the vehicle. But I'm fairly sure the system in Canada is different from the US, so d1amund's method is probably the most ideal, however your option 3 will work as well.
    - Richard

    2017 Audi A4 Allroad - Mythos Black - 034 Dynamic+ Springs - Volk Racing TE37 Ultras

    2021 Lexus NX300 - Ultra White - BBS Evo X Wheels

    2017 Honda Civic Touring - Lunar Silver - Sold
    2018 Volkswagen Golf R - Oryx White Pearl - Sold
    RIP - 2010 Audi A4 - Monza Silver
    - Apparently not resting in peace anymore.

  6. #6
    Veteran Member Four Rings bknewtype's Avatar
    Join Date
    Jan 07 2011
    AZ Member #
    69138
    My Garage
    2013 C300 4Matic
    Location
    NYC

    ur gonna crash that m4 before u take it out of the lot. u need a prius
    Present:
    2019 Audi RS5 Daytona grey/Black w Rock Grey Stiching
    Past:
    2014 Audi S7 Estoril Blue/Lunar Silver
    2017 Audi TTS Mythos Black/Express Red
    2009 Audi R8 Phantom Black | Nero Satin Pearl
    2011 Audi A5 2.0T 6mt Sapphire Black
    2009 Audi S5 Phantom Black

    IG: bknewtype

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