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Audi Q5 Lease Questions

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  • Hi,

    I'm new to leasing cars and am looking to lease our first car in December 2011.

    We live in the NYC metro area (plenty of dealers to choose from!) and have zeroed in on a 2012 Model Year Audi Q5 2.0T Premium Plus, which will likely have an MSRP of approx. $42,000 based on the options we'd like.

    Two questions -

    1. We are looking for a 36 month 10,000 or 12,000 mile lease. What would be a good discount, money factor, and residual value to be quoted for a December 2011 purchase (of dealer inventory, not ordered car)? FICO in high 700s. What are the additional taxes and dues beyond what the dealer will quote? I take it that we will have to pay NY sales taxes on monthly lease payments? I'm tring to get a full picture of one time / month cash outflows.

    2. My employer qualifies for the Audi Supplier Discount Program of 6% on MSRP (ex. destination charge). Does anyone know if I'd be able to negotiate additional discounts with the dealer (from the dealer's margin)? I assume that the 6% Supplier Discount is reimbursed by the manufacturer to the dealer so I should be able to negotiate further discounts. Is that right?

    Regards,
  • mvs1mvs1 Posts: 462
    I experience this most every time I go to purchase a vehicle. And between my wife and I it's easily every 2-3 years.

    I chalk this up to customers being better educated. The practice probably hasn't changed much since cars have been sold. Selling cars from what what I see in wanted ads doesn't require a college degree or experience of any kind and thus these are the results.

    Find the car you want and search dealers in a specific radius, say 50 miles or so (I've gone out further), you'll find a good dealer with good people that will respect your time and theirs.
  • arundarund Posts: 5
    Carman, I'd really appreciate if you could evaluate what a local dealer quoted me:

    Q5 2.0 with premium plus and nav, 36 month lease, 10k miles, MSRP of 44,590, negotiated price of 43,276 (invoice was $42,276.66). + Audi care, nothing down, but the acquisition fee is put on the loan, MF of .00157, residual 56%, the monthly payment is $717, which includes tax (which is 8.75 in my state). Is that a good deal? Thanks!
  • smyersmyer Posts: 1
    What is the November 2011 Audi MF and residual for a 2012 Q5 2.0 premium plus with navigation and 19" wheels - 12k miles/year for 36 months? Thanks in advance.
  • Hi arund. The money factor that you were quoted is right on line with AFS' buy rate for it. That is obviously a good sign. A selling price of $100 over invoice is very attractive as well. While a payment of $717 isn't a great payment for a lease on an SUV, this is a good deal on this particular vehicle.

    Car_man
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  • Here's the information that you're looking for, smyer. Audi Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2012 Q5 2.0 Premium Plus with 12,000 miles per year are .00157 and 54%, respectively for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • I am getting Audi Q5 PP + NAV for $43775. The dealer is quoting me $1500 discount. Is this a good discount. What will be my lease price? I live in Illinois.
  • arundarund Posts: 5
    Thanks Car_man! The selling price was actually $1000 over invoice (and about $1000 below MSRP), not $100. Do you still consider it a good deal? And, are you saying that, in general, SUVs are not worth such a high monthly payment, but with specific regard to the Audi Q5, it is worth it? Thanks!
  • $1,000 over invoice is a good deal. Not the best out there but damn good considering the limited supply. I dont believe the $717 makes sense tho. How much are you giving them due at signing? To be more clear what is the amount of cash/check you will give them when you pick up the car, which includes first month payment (which audi is paying for in december)?
  • arundarund Posts: 5
    $1150 up front, which includes the first payment and registration. So basically nothing down (which is a no brainer on leases right?). I believe Audi is only paying for the first month on A4s, A6s and A8s. $717 includes tax (which is 8.5% for me). Does $717 still sound off?
  • 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 discussion has been closed.