Lease end purchase, directly from the bank?

zen2usazen2usa Miami, FLPosts: 11
edited September 2020 in Audi
Hello. I have a 2018 Audi A5 with lease coming to end in November. The lease end purchase price listed in the contract is $26723.50. There is little to no inventory of A5s due to COVID production shutdown, and I have driven only 24k miles of the 30 allowed, so I am seriously considering buying the car. The dealer is telling me I have to pay $697 dealer fee, $298 title transfer for FL, $200 registration, $350 Inspection fee. I will try with other dealers for a lower price, but I heard it could be possible to purchase the car directly from the leasing bank and save most of those charges. Do you know if this is true? How can I find out who my leasing bank is? It just says Audi Financial services...
Thank you for your advise.

Comments

  • kyfdxkyfdx Posts: 185,748
    zen2usa said:

    Hello. I have a 2018 Audi A5 with lease coming to end in November. The lease end purchase price listed in the contract is $26723.50. There is little to no inventory of A5s due to COVID production shutdown, and I have driven only 24k miles of the 30 allowed, so I am seriously considering buying the car. The dealer is telling me I have to pay $697 dealer fee, $298 title transfer for FL, $200 registration, $350 Inspection fee. I will try with other dealers for a lower price, but I heard it could be possible to purchase the car directly from the leasing bank and save most of those charges. Do you know if this is true? How can I find out who my leasing bank is? It just says Audi Financial services...
    Thank you for your advise.

    AFS is the leasing bank.
    I don't know if AFS will directly sell you the vehicle. Even if they could, it's possible that Florida regulations might prohibit it (FL is very dealer friendly).

    I know that VW will only sell through the dealer, though BMW and Honda will sell directly.

    (Even though the contract seems to read that all you have to do is pay the bank).

    The title transfer and registration may be required, as the car is being transferred. (also, sales tax). But, the dealer fee and inspection fee are BS, for sure.

    I don't know the value of your vehicle, but it may be worth more than the residual. Maybe, worth trading on a new car? Used car values are nuts, right now.

    Or, depending on your situation, sell it directly to Carvana or Vroom?

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • zen2usazen2usa Miami, FLPosts: 11
    And I just read on my Audi Financial Services account "For Colorado, Florida, and South Dakota customers: Any off-lease purchase must be done at your local or preferred Audi dealership." I live in Florida...So this means that I do not have an option to purchase directly from the bank?
  • kyfdxkyfdx Posts: 185,748
    zen2usa said:

    And I just read on my Audi Financial Services account "For Colorado, Florida, and South Dakota customers: Any off-lease purchase must be done at your local or preferred Audi dealership." I live in Florida...So this means that I do not have an option to purchase directly from the bank?

    That seems pretty specific to your situation, so yes.

    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • zen2usazen2usa Miami, FLPosts: 11
    Thank you very much
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