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Audi Q5 Lease Questions

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  • mlevinemlevine Posts: 214
    I agree with you very high lease payment. Suspect the deal may be better as the sweet spot for this lease is probably at 36 months rather than 42 months. If you could wait for March, may be able to get better deals on not only audi, but other manufacturers. This month money factors seem to be higher and incentives less or even non-existent.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I agree with the consensus. The Q5 is a really nice vehicle, but I can't ever imagine spending nearly $700 per month for one. That's a lot of money and would could get something truly amazing for that much.

    Car_man
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  • stridersstriders Posts: 4
    Hello all,

    Just want to get your input on the following lease number for a 2013 Q5 2.0 Premium Plus with Advanced Key and 19" Rim:

    MSRP: $42,550
    Negotiation prices: $40,990
    Trade-in value: $3,500 (positive - goes towards down payment for cap cost reduction, tax, 1st month, etc.)
    Residual value: $21,646 (dealer said res value is based on MSRP, NOT net cap)
    Rent charge: $4,125.89

    Lease length: 42 months
    Mileage: 12,000 miles / year

    Monthly total: $567 (tax included)
  • Hi Car_man, can you please post new March lease details for 2013 Audi Q5 3.0 Premium Plus based on 12,000 miles for 36 months? Is there a better lease term (39, 42) and if so can you post those numbers as well? Thank you so much.
  • sylwio30sylwio30 Posts: 1
    Hi I lease Audi Q5 2013 few weeks But I am not sure if I like the color Do anyone know If I can switch the car for the different color Thanks For your help
  • tkh1tkh1 Posts: 2
    edited March 2013
    Car_man: Just curious: What would you consider "truly amazing" at this payment level ($700/mo) ?

    tkh1
  • brewinbrewin Posts: 1
    Hello Car_Man and all, based on all the useful data on this forum, I am trying to decide whether it makes more sense to lease or buy used, with $15,000 cash today (combined value of trade-in and cash on hand).

    Here are the inputs for the lease:
    Description: 2013, 2.0T, Premium Plus, and MMI
    MSRP: $45,920
    Residual: 55%
    Invoice: $42,770
    Lease term: 36 months
    Money factor (MF):0.00141 (thanks car_man)
    Cap cost reduction: $3,000 (keeping $12k cash)
    Calculated Payment: $494.85 + tax, or $540.63 (with 9.25% tax)
    Total 3-year payments: $19,462.58

    At the end of the 3-years, I'd have paid about $19,500 for the lease. Q5 would be "worth" $25,000 then. Assuming I purchase the Q5 at the end of the lease ($15,500 loan, 3 years, 3% interest), then it would cost another $16,500 in payments, bringing the total to $36,000 in payments over 72 months or about $500 per month.

    Here are the inputs for the used buy:
    Description: 2011, 2.0T, Premium Plus, Navigation, 36,000 miles
    Used: $35,000 + $4,500 (costs)
    Down: $15,000
    Loan: $24,500
    Rate: 1.75%
    Months: 48
    Payments: $530
    Total Payments: $25,440

    Even though used prices seem very high these days (compared to residual percentages), 48 payments * $530 = $25,500. This appears to be a savings of $10,500 over 6 years or $1,750 per year, buying used instead of leasing.

    Am I look at this the right way? Even if used Q5 prices seems higher than expected, would it still make sense to go the used route (understanding we may have different priorities, etc.)?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Certainly estebanbruin. Audi Financial Services' March buy rate lease money factor and residual value for a 36-month lease of a 2013 Audi Q5 3.0 Premium Plus with 12,000 miles per year are .00143 and 55% for consumers who qualify for its top credit tier.

    The numbers for 39- and 42-month terms are .00163 / 53% and .00163 / 51%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tkh1. I haven't run payments on every vehicle out there this month, though some times it seems like I have ;). The one vehicle that I always personally use as a high-end luxury vehicle lease reference point in my mind is the BMW 7-Series. To me, that's one of the best luxury vehicles out there, so if any other car or truck out there costs more than a 7 to lease then it's not a good deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi brewin. You're better off keeping the entire $15,000 than using any of it as a capitalized cost reduction on your lease. Doing so is much safer. Generally speaking, if you want to keep a vehicle long-term you should just buy it from the beginning. Leasing works better for people who want to get different vehicles every couple of years. In terms of buying, assuming that you don't get a messed up vehicle buying used is almost always cheaper than buying new.

    At least that has traditionally been the case, used vehicle prices have been a little on the high side over the past couple of years. That has mainly been the case because leasing dried up during the financial crisis and it was always responsible for a large number of used vehicles coming onto the market. Leasing has picked back up and we are already seeing signs of used vehicle prices easing some. I suspect that this trend will continue.

    So in short :), buying used is likely your cheapest option.

    Car_man
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  • jc4083jc4083 Posts: 2
    Wondering if this is a good deal. Thanks everyone.

    I live in Northern California.

    Audi Q5 3.0 Premium Plus
    + Bang Olfsun sound
    + Navigation package

    Price: $48,300
    Down: $1800
    Monthly: $673
    Residual: 57% ($27,531)
    Money Factor: .00143

    It seems decent to me, but this is my first time leasing (vs buying). This model is pretty popular here in the Bay Area.

    Thanks
  • jc4083jc4083 Posts: 2
    Oh. 36-months; 10,000 miles p/yr
  • tkh1tkh1 Posts: 2
    Thanks, Car Man. Can you post the April money rates and residuals when you have them? Also, any lease promotions for April that you know of?
  • I have a deal proposed to me from a local dealership. Seems like a very good deal.

    2013 Q5 2.0 - 15K miles, 39 month lease. Premium Package with Convenience Package and Heated Seats, no lighting package or nav.
    Only money down is Bank Fee, DMV/Plate charges and First Month Payment.
    Quoted: $529.00 a month PLUS they will pay the final 4 months of my BMW payment of $609 a month.

    Is this a good deal?
  • thats a great deal. what dealership? wish i could get something like that. also trying to get out of 4 payments left on 335i

    suggestions ??
  • stridersstriders Posts: 4
    I think that is a good deal, I wish I get the same deal!

    I recently good a similar car:

    - 2013 Q5 2.0T Premium Plus
    - No nav, no premium audio - everything else included (panoramic sunroof, premium tires, BT, etc..etc..)
    - 42 months lease w/ 12K miles per year
    - $4,500 down for tax, acquisition fee, 1st month payment, DMV fees
    - $ 520 / month
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome tkh1. Audi Financial Services' April buy rate lease money factor and residual value for a 36-month lease of a 2013 Q5 2.0T Premium Plus with 15,000 miles per year are .00139 and 52% for consumers who qualify for its top credit tier.

    The only cash incentive on this model right now is $1,000 owner loyalty.

    Car_man
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  • CycloneRcrCycloneRcr Posts: 4
    edited April 2013
    Hi Car Man,

    Could you please also post April lease numbers for Q5 3.0T Prem. Plus for 10.000mls/year for a 24month lease.

    Thanks for your contribution to this forum!

    Regards,
    C
  • Hi Everyone,

    I am interested in leasing an Audi Q5. I found the one that I wanted and acted quickly. Please let me know what you think about ths offer....I think it's terrible!

    2013 Ibis White Q5- Premium Plus with Navigation and Sound System- MSRP $50, 100.

    I have a trade- 2010 Honda CRV with 30K miles and still owe $8,356. They are offering me $15K for the trade. Thus a positive difference of $6,644.

    They told me that my credit is great, no problems there.

    What they are offering is: The trade + $2,000 down and monthly payments of $600. 12K miles. 42 month lease.

    I think it is absurd. But I would like to hear from others...they keep pushing me to purchase the car and telling me that the Audi leases are much much different than other companies. I simply don't understand.

    I am willing to put some money down but this is essentially asking for $8644 down for a lease!

    Any feedback is appreciated!
  • stridersstriders Posts: 4
    Ask them what are the lease terms - money factor, residual value, etc. Then use Edmunds Lease calculator to check if you're getting dinged on bad terms (high APR, low residual value, etc.).

    Oh, also, focus on the PRICE of the car first, not monthly payment. You should NOT buying the car at MSRP.

    Just my 2 cents.. ;)
  • weave015weave015 Posts: 1
    Looking at a Q5 3.0 with Nav and sport and sport interior packages for which msrp is $52,270. Would like to get an idea of suggested purchase price as well as April money factors and residual for a 36 mo, 12,000 mile/yr lease. Does anyone know these numbers?

    Thanks in advance...
  • audimdaudimd Posts: 1
    3.0 q5 prem+ 0.00139 and 55% for April 36 month.
    Just got a 42 month lease 3.0 prem+ with sline interior and exterior packages with nav and the b and o. Sign and drive deal 800/ mth. Seems a little pricey but there was nothing similar available for months and this really nice with the phantom lack paint and black interior. Sline interior is really nice looking.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, CycloneRcr. Audi Financial Services' April buy rate lease money factor and residual value for a 24-month lease of a 2013 Q5 3.0T Premium Plus with 10,000 miles per year are .00139 and 62% for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi weave015. I am not personally all that familiar with what the market is like for this truck right now, so I really can't give you an idea of what sort of selling price to shoot for other than to aim for as close as possible to the dealer invoice price that is listed here at Edmunds.com.

    Audi Financial Services' April buy rate lease money factor and residual value for a 36-month lease of a 2013 Q5 3.0 Premium Plus with 12,000 miles per year are .00139 and 54% for consumers who qualify for its top credit tier.

    Car_man
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  • Hi Car Man,

    Could you please post the lease numbers for a Q5 3.0T Premium Plus for 18,000 miles a year for a 36 month lease.
  • markcincinnatimarkcincinnati Posts: 5,102
    edited April 2013
    Car man: We're looking for some education regarding the impact of making multiple security deposits.

    When we didn't know any better, we would consider a cap cost reduction which did, of course, lower the monthly payment, but on a closed end lease seems, in hindsight, ignorant. Doing such a thing going forward would graduate us to being stupid, knowing what we know now.

    Having read posts here (and elsewhere) pertaining to leasing, it appears there may be an approach that ties up some funds (just like making a cap cost reduction contribution) but does allow those funds to be recovered at the end of the lease.

    We have found that Audi Financial allows up to 10 security deposits to be made in order to reduce the monthly payment (apparently by reducing the money factor). What we don't know is where to go to find the impact of 1, 2, 4, or more security deposits. If the sec dep requirement is $500, and instead of "buying down" the payment with a down-payment, one were to make, say $5,000 worth of security deposits, what happens (and is it linear?) to the money factor and hence the payment.

    We're some months away from making a decision, but it seems to us that leasing with $0 down but with a refundable deposit could be a not unreasonable alternative.

    Comments, opinions, facts, etc, please . . . .

    Thank you! ;)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mmalecka41. Audi Financial Services' April buy rate lease money factor and residual value for a 36-month lease of a 2013 Q5 3.0T Premium Plus with 15,000 miles per year are .00139 and 52% for consumers who qualify for its top credit tier.

    I believe that 15,000 miles per year is the highest mileage allowance that AFS publishes residual values for. If this is indeed the case and you were to need 18,000 miles per year, you would have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi markcincinnati. You are absolutely correct, making multiple security deposits is a much better way to lower your vehicle's payment than making a capitalized cost reduction. Each additional deposit you make lower your vehicle's money factor by certain amount. I haven't looked into this aspect of Audi's lease program in a while, but the last time I checked it provided a reduction of .00008 for every additional deposit that consumers made. This may have changed slightly.

    You should be able to make up to nine additional deposits, unless the money factor is already fairly low. Audi won't let money factors go below zero on a lease.

    Car_man
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  • ddjohns1ddjohns1 Posts: 3
    edited April 2013
    We are purchasing a Q4 Hybrid with the PRQ wheel package, $250 worth of wheel locks and cargo nets, and no other options for $52,000. I guess that is $1,500 off MSRP.

    I was told by the dealer that the lease rates are fixed by Audi Financial and are non-negotiable???

    The MF is .0022 and the residual is 51% for 12,000 miles per year and 36 months. This seems really high compared to other lease rates, but I was told the Q5 Hybrid is highly sought after and the rates are higher.

    I'm thinking I might be better off purchasing, and putting a large portion on our home equity line at 4% (which is also tax deductible.)

    Any advice?

    Also, the car is being delivered in May, so the rates may change depending on what Audi is offering at the time. Any idea if rates are likely to go up or down?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ddjohns1. What you were told about the money factors isn't exactly correct. Audi Financial Services does set the buy rate money factor for the vehicles that it leases, however dealers are often allowed to mark this factor up to add additional back-end profit to deals. AFS' April buy rate for a 36-month lease of a 2013 Q5 Hybrid is .00162 for consumers who qualify for its top credit tier. If you're credit is in good shape, this is the factor that you should insist that they use on your deal. Anything higher than that is being padded.

    I don't expect Audi's lease program on this model to be much different in May, but you never know for certain until the program is officially announced.

    Car_man
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