Lease question for you folks- Math ahead

Kinja'd!!! "Drakkon- Most Glorious and Upright Person of Genius" (rex-imperator)
03/07/2018 at 11:53 • Filed to: None

Kinja'd!!!0 Kinja'd!!! 15

Let me be a dick and ask that you only answer if you actually know. I can guess just as well as anybody else.

I am coming to the end of my 3 year lease. 12,000 miles a year. I *will* overshoot my miles by a few thousand so I will owe when I turn it back in. My last payment should be in September. (7 payments due as of today). My lease mileage will likely run out about the end of June. I would have about 3-4 months of driving over. I expect about 2500 - 3500 miles.

Payment: $500ish

Mileage: 25 cents per mile (pretty good!)

Each payment = about 2000 miles

What’s the proper time to jump out? If I jump out with the mileage is up, I would owe about 3 months payments. If i drive to the end, I would owe about 1-2 months extra payments. It’s an Audi so they may do something to try to keep me inside the brand, but to be honest, I’m in like with the car. It’s a perfectly acceptable, if sterile driving experience. I’m not sure I’m brave enough to go to Alfa, but that word “passion” that Hammond and Clarkson banter on about has a certain gravity.

Advice?

Kinja'd!!!

DISCUSSION (15)


Kinja'd!!! Smallbear wants a modern Syclone, local Maple Leafs spammer > Drakkon- Most Glorious and Upright Person of Genius
03/07/2018 at 12:37

Kinja'd!!!2

Kinja'd!!!

Unless I’ve done something catastrophically wrong or missing something big you’re better off to just ride it out. In those three months:

- You’ll be paying for your current lease anyway

- Assuming a similar payment for the new lease, just paying the mileage would mean 1.5 payment per month instead of 2 payments per month.

Maybe I’m misunderstanding the question.


Kinja'd!!! Drakkon- Most Glorious and Upright Person of Genius > Smallbear wants a modern Syclone, local Maple Leafs spammer
03/07/2018 at 12:41

Kinja'd!!!2

Nope. That was the kind of thinking I was working through, but Excel makes it obvious again. Thanks


Kinja'd!!! Smallbear wants a modern Syclone, local Maple Leafs spammer > Drakkon- Most Glorious and Upright Person of Genius
03/07/2018 at 12:47

Kinja'd!!!0

Excel is great when you start getting in your own way on paper :)


Kinja'd!!! WilliamsSW > Drakkon- Most Glorious and Upright Person of Genius
03/07/2018 at 12:52

Kinja'd!!!1

Smallbear is correct, and you should consider a few curveballs - presume you’re still under the bumper to bumper warranty, but if not, that’s a risk. Also, if you shop around, that ‘new lease’ might be more or less per month, which could shift the dynamics around.

I went through this same math with my wife’s last car, which she couldn’t wait to get out of- - but the bottom line was that, unless she wanted to stick with the same brand (hell no), hanging on was the right answer, from a straight financial perspective.


Kinja'd!!! Drakkon- Most Glorious and Upright Person of Genius > WilliamsSW
03/07/2018 at 13:03

Kinja'd!!!1

I presume my new lease will be similar money, but that’s good advice.


Kinja'd!!! WilliamsSW > Drakkon- Most Glorious and Upright Person of Genius
03/07/2018 at 13:13

Kinja'd!!!1

At least where I live (IL), tax laws have changed in recent years, and certain cars have become more competitive, so you might be surprised.

In the last 7 years, we have leased a 2011 RX 350; 2015 X3; 2015 GS 350; and 2017 RX350. Each car had a higher MSRP than the previous one (except the last one was a little less than the GS), and our lease payments have *declined* dramatically despite similar terms. The first car was over $700/month; last one was $538 - with less money down.

Depending on how hot the car is you want, and how well the manufacturer supports leases, you might be able to cut your payment (or not if you want something in high demand).


Kinja'd!!! Drakkon- Most Glorious and Upright Person of Genius > WilliamsSW
03/07/2018 at 13:16

Kinja'd!!!1

Yeah, I think I’d be hard pressed to beat the Audi. I leased about two months after the Diesel scandal broke. I think I could have leased my car if I gave a few Applebees gift cards to the sales manager.

The ones I have my eye on are the Stinger and the Stelvio (not sure if I’m that brave, but hey, warranty...) Maybe the baby Jag.

I can see the Stinger getting lease support from corporate to grow the brand. The others I expect to be stingier.


Kinja'd!!! Galileo Humpkins (aka MC Clap Yo Handz) > Drakkon- Most Glorious and Upright Person of Genius
03/07/2018 at 13:25

Kinja'd!!!0

Relevant things I learned from our Q5 lease recently ended:

- Audi will let you out of the lease, penalty free, 3 months early (not sure, but I believe getting into a new Audi lease is required). If you can manage to keep under or at your mileage when you come upon the 3 month mark, go try and get into a new one. Our lease technically was supposed to end in May but we took advantage of this to get our new car early.

- Some Audi dealers allow up to 1,000 miles over lease mileage, penalty free. See if that was part of your lease.


Kinja'd!!! WilliamsSW > Drakkon- Most Glorious and Upright Person of Genius
03/07/2018 at 13:33

Kinja'd!!!1

I think you’re right about Kia, Alfa, and Jaaaaag leasing.

Sounds like Kia is supporting Stinger leases, although a few dealers may still be thinking ‘no lowballers I know what I have’.


Kinja'd!!! Khalbali > Drakkon- Most Glorious and Upright Person of Genius
03/07/2018 at 13:36

Kinja'd!!!0

Something to keep in mind with audi and vw leases is that if you try to trade it in at another brand they charge a higher payoff amount, it’s pretty shitty.


Kinja'd!!! Drakkon- Most Glorious and Upright Person of Genius > WilliamsSW
03/07/2018 at 15:30

Kinja'd!!!1

I just drove one. Great driver’s car.

They had 20-30 of them there so I don’t think they get to complain about rarity anymore.


Kinja'd!!! Drakkon- Most Glorious and Upright Person of Genius > Galileo Humpkins (aka MC Clap Yo Handz)
03/07/2018 at 15:33

Kinja'd!!!1

I know of people trading in a lease on a lease and Audi is very willing to play ball. Honestly, most automakers will do that pretty freely.

I just don’t think I’m in love with Audi. At least not in the Q range. I could try a 3.0 which I may like the drive a bit better. It’s a fine car, but 100% adequate at every task. Not 75%, not 150%. Exactly 100%. No soul.


Kinja'd!!! WilliamsSW > Drakkon- Most Glorious and Upright Person of Genius
03/07/2018 at 15:35

Kinja'd!!!1

Nice. My lease (the GS) is up at the end of May, and that’s on my list of cars to check out. I just need to find the time to shop now...


Kinja'd!!! Drakkon- Most Glorious and Upright Person of Genius > WilliamsSW
03/07/2018 at 17:04

Kinja'd!!!0

I drove the GT2 with the electronic suspension. Very good car.

Under trays so very quiet at speed.

Steering felt really good (first Korean car I’ve ever driven that the steering was remotely close to acceptable).

Plenty of power. But good delivery. It just felt like a big engine, but a big turbo engine.

They of course fawn over the brembos, but that’s not really unique anymore.

I’ll tell ya, if the ATS can in a sedan-hatch, I would really consider one, but the Stinger lived up to the hype and the hatch is great. I can’t afford an A7 or a Tesla, so there ya go


Kinja'd!!! Galileo Humpkins (aka MC Clap Yo Handz) > Drakkon- Most Glorious and Upright Person of Genius
03/07/2018 at 18:58

Kinja'd!!!0

Yeah, most will, I’m just not sure what other manufacturers offer since we’ve been all Audi for the last decade.

I know that feel about the Q5. As much as we liked ours, we were ready to step it up and have more fun. Kind of sucks they don’t offer a Q5 with the 3.0 anymore without it being an SQ5. Though, I’m not complaining ;).

I’d be very curious to find out what you think of an Alfa or Stinger and what their leases look like once all is said and done. I tried to get my wife on board with a Giulia or a Stelvio but it was a no-go.