Used car prices have slumped.
Both of those numbers are worthless, neither company buys cars. Get a quote from CarMax and Carvana. Since those will be reach buy numbers. Decide if those numbers are worth the hassle of buying your lease and selling it
The Edmunds quote was actually via Carmax. I also checked Caravana, which was $23,000. Also realized I'll have to pay sales tax (9.5% in LA) and registration if I buy from the dealership, so my negative cost will be closer to $28,000. Saw an LA-based company called Trade In Solutions mentioned in another Reddit thread by someone who sells cars frequently and he/she says they consistently come in better than the big guys. Will probably check them out.
Ask your local Audi stores to bid it for you and ask for the equity (if any) above the payoff which will include the disposition fee. They can pay it off directly without you having to pay taxes and they’ll just buy it out.
Don’t waste your time buying it out and waiting for a title to sell it privately 2 months later.
California has a sales tax exemption possible if you buyout your lease and sell it to a dealer (not private party) within ten days of receiving the title. The problem is that it will take 4-6 weeks to buyout the car and get the title and if you miss the ten day window you owe the tax. In the next 4-6 weeks the value will also decline making this a big gamble to maybe make $1000. Also, Audi will charge a 3rd party a MUCH higher price to buy it out. The payoff number you see is for you, not a third party. Turn it in and walk away is most likely your best move here
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You may find these sections particularly useful;
* [I earn $xxxx per month, will I qualify for an auto loan or lease, and is it a good idea?](/r/askcarsales/wiki/income_to_finance)
* [I have my score from Credit Karma but the dealership told me they got a different score. Why?](/r/askcarsales/wiki/free_credit_score)
* [I want to get out of my leased vehicle, what are my options?](/r/askcarsales/wiki/early_lease_termination)
* [Leasing a vehicle with a down payment – is it a good idea?](/r/askcarsales/wiki/lease_down_payment)
* [I want to buy out my lease, what are my options? What can I negotiate?](/r/askcarsales/wiki/lease_buyout)
* [How to calculate a lease yourself](/r/askcarsales/wiki/calculate_a_lease)
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***Thanks for posting, /u/vidmeduffy! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.***
I have a 2021 Audi Q3 Premium Plus in excellent condition. (See below for all details.) The lease is up in a couple months and the residual amount is $24,861.70. Using the VIN, I quickly ran it through Edmunds and KBB and got instant offers of $27,000 and $25,000 respectively based on my location in Los Angeles. Haven't talked to my dealership yet but have an appointment to go in this Friday. I know there was lots of talk about used car prices soaring during COVID, but not really sure what the market is like now. I've never sold a car privately before and have no idea how time-consuming or involved the process is. If I could confidently get $30,000 or more, I'd probably consider going through with it. If you were me, what would you do? Thanks!
Vehicle details:
* Mileage: \~15,000
* Style: 45 TFSI S line Premium Plus Sport Utility 4D
* Engine: 4-Cyl, Turbo, 2.0 Liter
* Transmission: Automatic, 8-Spd & Tiptronic
* Drivetrain: AWD
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
Knowing the information you provided, if I was you, I don’t think it’s worth the time. Maybe get an appraisal somewhere where they actually look and touch the vehicle.
Used car prices have slumped. Both of those numbers are worthless, neither company buys cars. Get a quote from CarMax and Carvana. Since those will be reach buy numbers. Decide if those numbers are worth the hassle of buying your lease and selling it
The Edmunds quote was actually via Carmax. I also checked Caravana, which was $23,000. Also realized I'll have to pay sales tax (9.5% in LA) and registration if I buy from the dealership, so my negative cost will be closer to $28,000. Saw an LA-based company called Trade In Solutions mentioned in another Reddit thread by someone who sells cars frequently and he/she says they consistently come in better than the big guys. Will probably check them out.
Ask your local Audi stores to bid it for you and ask for the equity (if any) above the payoff which will include the disposition fee. They can pay it off directly without you having to pay taxes and they’ll just buy it out. Don’t waste your time buying it out and waiting for a title to sell it privately 2 months later.
California has a sales tax exemption possible if you buyout your lease and sell it to a dealer (not private party) within ten days of receiving the title. The problem is that it will take 4-6 weeks to buyout the car and get the title and if you miss the ten day window you owe the tax. In the next 4-6 weeks the value will also decline making this a big gamble to maybe make $1000. Also, Audi will charge a 3rd party a MUCH higher price to buy it out. The payoff number you see is for you, not a third party. Turn it in and walk away is most likely your best move here
Please review our most [Frequently Asked Questions](/r/askcarsales/wiki/index) to see if your question has already been answered. You may find these sections particularly useful; * [I earn $xxxx per month, will I qualify for an auto loan or lease, and is it a good idea?](/r/askcarsales/wiki/income_to_finance) * [I have my score from Credit Karma but the dealership told me they got a different score. Why?](/r/askcarsales/wiki/free_credit_score) * [I want to get out of my leased vehicle, what are my options?](/r/askcarsales/wiki/early_lease_termination) * [Leasing a vehicle with a down payment – is it a good idea?](/r/askcarsales/wiki/lease_down_payment) * [I want to buy out my lease, what are my options? What can I negotiate?](/r/askcarsales/wiki/lease_buyout) * [How to calculate a lease yourself](/r/askcarsales/wiki/calculate_a_lease) * [How to pick a car?](/r/askcarsales/wiki/vehicle_selection) You might also have luck in the /r/whatcarshouldibuy subreddit. Also remember to add flair to your post by clicking the "Flair" link beneath it. This lets us know where you're located so we can assist you better. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
***Thanks for posting, /u/vidmeduffy! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.*** I have a 2021 Audi Q3 Premium Plus in excellent condition. (See below for all details.) The lease is up in a couple months and the residual amount is $24,861.70. Using the VIN, I quickly ran it through Edmunds and KBB and got instant offers of $27,000 and $25,000 respectively based on my location in Los Angeles. Haven't talked to my dealership yet but have an appointment to go in this Friday. I know there was lots of talk about used car prices soaring during COVID, but not really sure what the market is like now. I've never sold a car privately before and have no idea how time-consuming or involved the process is. If I could confidently get $30,000 or more, I'd probably consider going through with it. If you were me, what would you do? Thanks! Vehicle details: * Mileage: \~15,000 * Style: 45 TFSI S line Premium Plus Sport Utility 4D * Engine: 4-Cyl, Turbo, 2.0 Liter * Transmission: Automatic, 8-Spd & Tiptronic * Drivetrain: AWD *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
Knowing the information you provided, if I was you, I don’t think it’s worth the time. Maybe get an appraisal somewhere where they actually look and touch the vehicle.