I picked up a new 2004 S4 in February and as part of the deal had them pay off the remaining payments (3) on my S2000 lease. This of course means that for the past 2.5 months I've had the pleasure of both my new S4 and my S2000.

Here's the question. I think the residual of my S2000 is $18K+change. It has ~38Kmi on the odo, and just had the tranny replaced, under a TSB:

Do you guys think its worth $18K or should I just hand it back after lease end, at the end of June?

I would like to keep it for top-down cruising and, primarily, as a track car. What would be fair market price?

Thanks,

J

 

hmm. MY00-01 are fetching around $18k. Check blue book values and local papers. I say be happy with the S4 and shed the S. But then again you can always negotiate the residual. NO...?

 

Good point. It's a 2001. I'll see what Chase would take for the resid.

 

trade in: $18K
private party: $20K
Dealer Retail: $22K

this is from NADA, Edmunds, and KBB. I don't think you'll have a problem getting $20K if you sold it.

are residuals negotiable? sometimes. Usually this is if the car is worth significantly less than the residual. Generally chase would know this, and give price incentives so that they don't have to keep the car and sell it at a loss in auction or to a dealer. The S2K is worth a little over the residual, so I don't think you're going to get a budge on the price.

Chase wants you to buy it; they don't want the hassle of owning the asset. You may get a break on the termination fee...maybe even a subsidized (<3.9%) financing deal.

 

you've got to factor in your end-of-lease fees, with both scenarios. dispo fee and over-the-limit miles versus buy-out fees (sometimes) and sales tax on the buy-out

i'd walk... unless you're going to pay cash for the buyout. you're out of warranty and for me, that's enough justification.

there won't be enough money in the deal to clear any bottom line if you're thinking that you can flip it.

 

On a side note, did you lease the S4, and if you don't mind me prying, what are you paying for it. I was considering the S4 next but not sure I can afford it just yet...

Thanks