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Audi Q5 Lease Questions

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  • audisalesman1audisalesman1 Posts: 4
    edited December 2011
    what tax rate (county you register car in) are you using? i will run it for you tomorrow afternoon
  • arundarund Posts: 5
    Tax rate is 8.75. You also have to add the Audi care and the acquisition fee ($700) to the purchase price to get the right monthly. I decided to capitalize both fees and take advantage of the 3.79% interest rate.
  • arundarund Posts: 5
    Were you able to run it yet? Thanks.
  • Thanks for the all the information you've provided in this forum. I'm totally new at this, so any help will be most appreciated.

    I'm trying to lease a Q5 2.0 Premium Plus for a 36 months, 10k miles/yr. In November a dealer said the lowest Money Factor was 0.0019 and residual was 55%. In December he quoted me 0.00282. When I asked about the 0.0019, he said it is still available for applicants with the best credit. In a post on Dec 4, you mentioned that the MF was 0.00157 for the same model but for 12k miles/year. Does the MF increase with lower mileage/year or is the dealer not offering the true lowest MF? Is this value published anywhere, and is it expected to change in January?

    Thanks in advance.
  • DO any of you have experience with a company called Legend Leasing-
    http://www.legendleasing.com

    I looked at them on-line based on a friend's recommendation and the deals seem incredible.
    For ex, they advertise an Audi A4 Quattro 2.0 Premium+ Nav for $409/mon for 36 months 0 down.

    Any opinions?

    thx
  • Hi carlessee. The money factor that I mentioned is correct and is available through January 5th. As you mentioned, it is only available for consumers who qualify for Audi Financial Services' top credit tier. The mileage allowance does not have any impact upon the money factor. If the dealer quoted you a higher factor than this and your credit is in good shape, they are likely trying to mark your car's factor up to add additional, hidden back-end profit to your deal.

    Audi is scheduled to introduce a new lease program later this week. Please feel free to check back with me for an update.

    Car_man
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  • Hi Car_man,

    Thanks for the confirmation on the money rate. Hope you had a good New Years.

    A manager at a dealership first quoted me in Nov 2011 a Q5 at "invoice + advertising (about $800)", so I ordered the car. I had the understanding that that was the price regardless if it's a sale or lease. Now he says that was not the selling price, but only the leasing price with the money rate bumped up from 0.00157 to 0.00282 so he can make more money. I was never aware of this, so I felt misled. Is this a common practice?

    He also said he needed the money more than I did, but 5 minutes later added proudly that they were making a lot of money off these cars. The car will be arriving very shortly, but I don't feel comfortable signing the lease, due to changing terms. When asked then how much he would sell the car for, he said $500 below sticker, but who knows that may change any time too.

    Do you think the latest terms are reasonable? I somehow lost faith. I'm currently considering a (gasp!) Toyota Venza or Ford Edge.

    Thanks for any comments you are kind enough to offer.
  • sakura88sakura88 Posts: 1
    edited January 2012
    Hi,

    This is my first time leasing a vehicle but I am not sure if I am getting a great deal. I live in Chicago. So, the taxes are pretty crazy. I am in the process of leasing a Audi Q5 2.0 premium plus package with an navigation system. There were a lot of throw on in this vehicle all-weather floor mats, bang & olufsen sound system, and 19" wheels with seasonal tires. So, the MSRP came to $45,955. I was not able to get the MSRP down because of the high demand. There is a two month waiting period. The one that is available and shipping in this week have all these features. I have a great credit score. So, I qualified for Tier A rate. Initially, they gave me interest rate of 0.00246 (5.9 %) and I was able to get it down to 0.00225 (5.4%). Then, they were talking about a balloon auto financing with 42 month term and 49% residual. He was willing to contract me at 12,000 miles but I can drive up 15,000 miles. Furthermore, If I am able to put down $2,500 for downpayment, I can get a monthly payment to $776. The interest rate of 5.4 percent still seem to be high. I don't want to feel that I'm getting ripped off. Any advices will be greatly appreciated. Thank you soo much for all your help.
  • Hi Index2020,

    Did you end up making a purchase? I also get the Supplier Discount through my employer and was wondering if you were able to negotiate any lower than 6% off MSRP? I'm guessing the dealer just gets reimbursed up invoice.

    Would love to know how it went for you and if you learned anything else in the process.

    Thx!
    -BD
  • Hi carlessee. That is a good selling price, but as you suspected a terrible money factor. I personally would never lease a vehicle with that much of a mark-up, out of principle alone. I wouldn't deal with this dealer any more if I was in your situation.

    The Q5 is pretty expensive anyhow. While it's a nice vehicle, there's a lot better deals out there in the SUV world.

    Car_man
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  • This sounds like a very expensive deal to me. I like the Q5, but eight hundred bucks per month is just way too much money to pay for one, IMHO.

    If I was offered this deal, I personally would shop around with a different dealer or more likely go with a different vehicle.

    Car_man
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  • CarMan -- What better deals would you recommend in the SUV world over the Q5? Please be specific. We did a new Lexus hybrid and had to return the car. Mercedes 350 and BMW X5 both seem good but pricy. Volvo XC-60 doesnt' seem to lease well. Love to hear your input.
    Thanks.
  • Hi Car_man,

    You mentioned earlier that Audi was set to release a new lease program this week. Any details?

    I'm specifically looking for the MF and residual on a 2012 Q5 Premium Plus lease.

    Also - I qualify for the Audi Supplier Discount of 6% off of MSRP. Do you know if that's just 6% off of the base, or if that would include any features (nav, etc) in the MSRP price as well? Does Audi reimburse the dealer for the difference? Just curious if it's worth doing or if it's better to negotiate my own deal. Details are a little difficult to come by.

    Thanks!
  • I am intereted in the new lease information too. Thanks.
  • I am about to purchase an 2012 Audi Q5.

    On a three year lease the money factory quoted to me was .00205 and residual of .53.

    Assuming I should qualify for Audi's top credit tier the money factor seems way out of bounds with market (car loans are available at 2.5-3%).

    What is the actual money factor currently for an 2012 Audi Q5 for a well qualified buyer via Audi Financial Services?
  • tsoltsol Posts: 40
    An interesting aside to those looking at the relatively "poor" lease deals from Audi. We have owned seven Audis and leased several, the last being a loaded 2010 Q5 Prestige. We paid around $710 a month with zero down with cost about $400 over invoice. In our state sales tax is collected up front becoming part of the cap cost of the vehicle so no add'l sales taxes included in that payment.

    What I find interesting is the last two leases have traded with very positive cash going toward the down payment on a new car. We just purchased a new 2012 Q5 that we ordered three months ago and paid $500 over invoice which included Audicare, taking advantage of the 1.9% financing from AFS. The 2010 Q5 had over $6k "equity" that I used toward the purchase of the new Q5. This effectively lowered our 29 month lease payment (we traded 7 months early!) to about $500/mo. The point being, the trade/resale value on a nice, clean, 12k miles/yr. Q5 is very high right now. A similar situation occurred when we traded a leased allroad back in 2006. No guarantees of course and to some this will seem like to much of a gamble, but has worked for us so far. Something to consider though I'd recommend buying an Audi over leasing in general.
  • Hi asteinberg. This month it's tough because the awesome dealers aren't out there like they were in December. The BMW X3 and potentially even the X5 were better deals than the Q5 last month. They're still pretty close. The Acura MDX and RDX are likely cheaper as well. So is the Cadillac SRX and probably the Lexus RX 350, Lincoln MKX, & Mercedes-Benz GLK350.

    The 2011 ML was a better deal, but certainly not the redesigned 2012 model. It's really expensive right now.

    There's a ton of really nicely appointed SUVs out there that just don't have the "luxury" nameplates as well.

    Car_man
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  • Here you go hakinet. Audi Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2012 Q5 2.0T Premium Plus with 15,000 miles per year are .00155 and 51%, respectively for consumers who qualify for its top credit tier.

    I suspect that the pricing for the Audi Supplier Purchase Program is 6% of of the vehicle's MSRP, including the destination charge and any factory-installed options, but I haven't looked into the program specifically.

    Car_man
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  • HA, I love the username, oldfatslow. You're right, the money factor that you were quoted is way too high. Audi Financial Services' current buy rate for a 2012 Q5 2.0T is .00155 for consumers who qualify for its top credit tier.

    Car_man
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  • oldfatslowoldfatslow Posts: 2
    edited January 2012
    The way the supplier program was explained to me (and on the FAQ on the website) you simply take MRSP minus destination and mulitply by 6%. You then subtract that amount from the MSRP and you are good to go.
  • mineshgmineshg Posts: 6
    edited February 2012
    Hello,

    I am new to leasing a car and this is my first time.. I really like the Audi Q5 and i live in Chicago where the taxes are pretty high. The tax is 9.75% and i have to pay taxes on the entire amount of the car. I got some quotes from a couple of dealers which I feel are ridiculous. For a Q5 3.2 Premium Plus with Navigation, 12,000 miles for 39 months with $5000 down, they are quoting me $700/month which I feel is too high. The MSRP of the car is around $46,500. After this the residual which they are claiming on the car is 53%. What would be the monthly cost which I should consider as a good deal for the above configuration of the car?? Also these dealers claim that they cannot negotiate anything on their offers since there are no Q5's in the market and there is a wait time of at least 1 month. Please advice.
  • hannasmomjohannasmomjo Posts: 1
    edited February 2012
    Hi and thanks in advance. I am looking at one of the top 6 luxury crossovers to lease. Audi caught my attention. I read not to tell dealers I am leasing but to get a buy price. How does one negotiate a lease price. I am great at doing so for purchases. I don't unerstand, carman, the numbers and %I you have put out. Perhaps if I tell you my budget is 500/mo and though hubby would prefer 0the down, there wont be a car in this category for that. So let's say I put 5,000 down on the Audi Q5 premium, what would a dealer tell me and what would I expext to negotate to?

    By the way I am in MA and am looking also at bmw X3 and the. Mercedes. Whichever one is iin the same range.
  • Hi hannasmomjo. It sounds as though you are new to leasing. If so, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    As far as your down payment goes, you definitely should not put $5,000 down on a leased vehicle. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen or never recovered. Even though it means that your monthly payment will be a little higher it is much safer to go with a zero down lease.

    Car_man
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  • Hi, Car_man, what should one do when leasing a new car but at the same time you have a trade-in? I assume one can just get the agreed trade-in value from the dealer but not put it as a down payment. Thanks.
  • Hi Car Man,

    What is the up-to-date Audi 2.0T adn 2.0T Premium Plus Q5 residual value and money factor? Please assume 10,000 miles; 36 months lease.

    Also, is the Q5 particularly expensive (residual value, Money factor and even interest financing rates offered)? It appears that is particularly expensive relative to the X5 and the Mercedez ML.

    Lastly, I have spoken to a car broker who tried to indicate that Edmunds pricing model wasn't accurate and led me to a pricing model on Overstock (yes, of all places) was more accurate for this particular car.

    Thanks for your insight.

    Thanks!
  • Car_man, can you please advice..
  • I would like to get your thoughts on purchasing a Q5 at the end of a lease. My 2009 Premium Plus Quatro 3.2 Audi's lease ends next month, and I have the option to buy it or turn/trade it in. Apparently it maintained its value at 33,600 miles and is very well kept. I could pay the balance off and keep the car as it's been a great car. My hesitation is that it's an older car, it will continue to depreciate, and I will need to purchase an extended warranty (about 2K), tires, and $100 every time I take my car for service to the dealership. I will also need to pay tax on the price of the vehicle, and I am not sure if in general purchasing a car at the end of a lease is a good idea. The good thing is that I was the only owner, took good care of it and I know it's been in good hands. It would also be nice not having car payments (although dishing out 28K would be a bit painful).

    The other scenario is using its "equity" for a new lease/purchase. If I add the Audi loyalty rebate ($750/$1500 - Lease/Purchase), supplier program discount (6% off MSRP) and dealer incentive (additional $1000) I get about 10-12K worth of a discount for another CPO/brand new Audi. Perhaps a smaller engine or diesel and also newer technology would be nice perks as well. This is tempting, as I could get a more updated car with relatively less worries, and not paying the tax on my previous Audi.

    Let me know your thoughts!
  • kyfdxkyfdx Posts: 28,048
    Early Q5s have held their value, very well...

    Using the equity in your vehicle as a trade-in on another new vehicle isn't a bad way to go.... assuming you can find a dealer that won't try to steal your trade-in.. It's no different than trading in a car that you own, except you'll have a time pressure aspect to the deal (in other words, you can't keep it for a few months and try again, as your lease will be up).

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  • I am interested in a 2012 Q5 3.2, Daytona Gray Pearl, Prestige with S line and S line plus and all weather mats for a sticker price of approx $53,500. What should I expect to pay over invoice? I want to do a 36 month lease with 15,000 miles per year and also want the lease to include Audi Care Maintenence. The car is due in mid march 2012. What should I expect the residual and lease factor to be from Newport Auto Center in Newport Beach. Shoudl I wait for the Hybrid?
  • You're absolutely right radoncgs. There's nothing wrong with trading in a vehicle when leasing a new one, just make sure to have the dealer cut you a check for any equity that you have in your vehicle rather than using the proceeds from it as a down payment for your lease.

    Car_man
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