2015 Audi A3 Lease Questions

Michaell

@ionlyawd said:
Edmunds, I renegotiated with the dealer for the Audi A3 2015 2.0T Premium with Navigation + Cold Weather Package, Scuba Blue for $36,850, sell price $33,175, money factor .00162, residual value 64%, 7500 miles/yr at $362.58/month with $2500 down (includes fees and taxes). Is this a good deal? Online lease calculators come back with $346 as the likely lease number per month so did I leave money on the table for the dealer as extra profit?

The base MF is .00152, so that is being marked up a little bit by the dealer. 64% is the residual for 36 months @ 7500 miles per year.

Is any of that $2500 due at signing going to cap cost reduction?

With your .00162 MF, I get a pre-tax payment of $358.37. With the base MF of .00152, the pre-tax payment drops to $352.69.

ionlyawd

Michaell, the $2500 pays the 695 acquisition fee, and about 617 in motor vehicle registration, license, document and tire fees. About 1188 should go towards paying down the 33,175 gross cap cost. The dealer says sales taxes are included in the $362.58 monthly payment - but I am going to sign tomorrow and have not figured out what that number is.

Michaell

@ionlyawd said:
Michaell, the $2500 pays the 695 acquisition fee, and about 617 in motor vehicle registration, license, document and tire fees. About 1188 should go towards paying down the 33,175 gross cap cost. The dealer says sales taxes are included in the $362.58 monthly payment - but I am going to sign tomorrow and have not figured out what that number is.

So if I adjust the cap cost to $31,987 to reflect the $1188 down payment, with the base MF the pre-tax payment is $317.88. MF of .00162 takes the pre-tax payment to $323.44.

What state do you live in and what is the local sales tax rate?

ionlyawd

New Jersey, tax is 7%. Wow that is a big drop from 362.58! Maybe adding tax back in on the downpaymt and lease payments will make that number look closer to my quote.

Michaell

@ionlyawd said:
New Jersey, tax is 7%. Wow that is a big drop from 362.58! Maybe adding tax back in on the downpaymt and lease payments will make that number look closer to my quote.

Yeah, NJ collects all sales tax up front and adds it to the cap cost. That will certainly raise your payment up to the quoted number from the dealer.

artiemack

Hi, actually the MSRP is 34600 - 39 months and 12k. NYS tax 8.875%. How does 418 a month sound - bare minimum / necessary costs only at closing? Thanks.

justg0

Looking for MF and residual 10k and 7.5k miles in WA state for A3 2.0 quattro premium plus

Thanks in advance.

justg0

Also I am being told that they are not doing MSD for A3. Is that just the dealer who is making this restriction?

jbnj

@ionlyawd‌ Do you mind sharing the dealer you go to please? Thanks.

Michaell

@artiemack said:
Hi, actually the MSRP is 34600 - 39 months and 12k. NYS tax 8.875%. How does 418 a month sound - bare minimum / necessary costs only at closing? Thanks.

Using all the numbers you've provided me ($34,600 MSRP, $33,200 selling price, .00143MF and 63% residual for 39 months), I get a pre-tax payment of $371.01. Add tax and you're at $403.93.

Changing the lease term to 36 months gets $395.37 pre-tax and $430.46 after tax.

Not sure how they are getting to the $418, unless they are rolling in some fees and taxes into the cap cost.

Michaell

@justg0 said:
Looking for MF and residual 10k and 7.5k miles in WA state for A3 2.0 quattro premium plus

Thanks in advance.

You didn't mention the lease term, so I will assume 36 months.

.00152 and 60% / 61%.

Also I am being told that they are not doing MSD for A3. Is that just the dealer who is making this restriction?

I'm not aware of the A3 being excluded from the MSD program from Audi. Contact a different dealer and see if their story is the same.

ionlyawd

@jbnj I ended up at Paul Miller Audi in Parssippany, NJ. I also talked to dealers at Audi Meadowlands, TrueCar.com offers (though they are competitive pricing their dealerships are about 120+ miles from NYC), and through a car broker Whipnik.com. My brother leased an A4 in Jan 2014 from Paul Miller Audi, so I ended up negotiating with the same dealer salesperson on fairly friendly terms. Obviously don't accept their first pricing offer, and if they don't have the exact car in inventory, make them work to get it, or offer you better prices to take what they do have. I ended up getting the Navigation + Cold Weather package with my Premium, which is nice to play with the new tech, but for $1900 less I do realize I can live without it as long as I use a suction mount for my iPhone/iPad for navigation.

mooglemd

I know it's early, but can you let me know the residual and money factors for a June lease when they are out? I'll be leasing in NY, or from an NJ dealer for NY

I'm looking for either Premium Plus or Prestige 36 month 10k mile lease. (Audi care adds 1% right?) and 12k if possible. Thank you

Michaell

@mooglemd said:
I know it's early, but can you let me know the residual and money factors for a June lease when they are out? I'll be leasing in NY, or from an NJ dealer for NY

I'm looking for either Premium Plus or Prestige 36 month 10k mile lease. (Audi care adds 1% right?) and 12k if possible. Thank you

June numbers won't be available to us until Tuesday at the earliest. Check back with us later in the week.

Yes, adding AudiCare tack on an additional 1% to the residual.

stever

A reporter would like to speak to an owner of a 2015 Audi A3. If this is you, and you'd like to share your story, please send your daytime contact info to pr@edmunds.com no later than Tuesday, 6/3/14 at 7 a.m. PT/10 a.m. ET.

angrysmurf

looking for price, MF and residual for quattro premium plus with MMI nav. 12 and 15k, 24 months

Michaell

@angrysmurf said:
looking for price, MF and residual for quattro premium plus with MMI nav. 12 and 15k, 24 months

Audi numbers expire today, but here is where they stand - .00152 MF and 64% for 15K - add 2% for 12K.

New numbers should be available to us as early as tomorrow - check back in the next few days.

angrysmurf

Michaell, thanks for the information. I was quoted mf .00225. And residual of 64%. Someone would make some serious money..is there variants in the range that would cause a higher money factor or is this just a salesperson trying to pull a shifty?

mooglemd

Are the new numbers for June out yet? Looking for premium plus or prestige 2.0 10k mile 36 month lease info. Heading to dealer this Saturday

Michaell

@angrysmurf said:
Michaell, thanks for the information. I was quoted mf .00225. And residual of 64%. Someone would make some serious money..is there variants in the range that would cause a higher money factor or is this just a salesperson trying to pull a shifty?

The dealer can mark up the base MF for extra profit. Explain to them that you won't do a deal with an inflated MF - period.

The MF can be increased based on your credit score - we always quote top tier MF.

Michaell

@mooglemd said:
Are the new numbers for June out yet? Looking for premium plus or prestige 2.0 10k mile 36 month lease info. Heading to dealer this Saturday

June numbers from Audi aren't available to us just yet. Keep checking back - we should have them any day now.

kyfdx

@mooglemd said:
Are the new numbers for June out yet? Looking for premium plus or prestige 2.0 10k mile 36 month lease info. Heading to dealer this Saturday

.00150 MF and 61% residual for P+. 59% residula for Prestige

mooglemd

@kyfdx said:
.00150 MF and 61% residual for P+. 59% residula for Prestige

Am I reading that right? Residual went up from 58->59% for Prestige for last month? Does that make it 60% then with audi care?

Michaell

@mooglemd said:
Am I reading that right? Residual went up from 58->59% for Prestige for last month? Does that make it 60% then with audi care?

Yes, add 1% if AudiCare is purchased.

egzero

Hi,

Can I please get the current residual and MF for the following?

Premium plus 2.0
Premium plus 1.8

both 12k/36 months

Thank you

kyfdx

@egzero said:
Hi,

Can I please get the current residual and MF for the following?

Premium plus 2.0
Premium plus 1.8

both 12k/36 months

Thank you

.00150 MF and 60% residual for 2.0 P+

.00123 MF and 58% residual for 1.8 P+

egzero

Thanks! Are all of the monthly incentives listed on the audiusa.com? If not where can I look them up? Thanks

Michaell

@egzero said:
Thanks! Are all of the monthly incentives listed on the audiusa.com? If not where can I look them up? Thanks

The Audi website should have them, and you can also use the pricing tools at the top of every Edmunds page.

sander104

Hi there,

Could I please get MF and residual for a 1.8 Premium at 7500 miles for 24 months?

Thanks!

kyfdx

@sander104 said:
Hi there,

Could I please get MF and residual for a 1.8 Premium at 7500 miles for 24 months?

Thanks!

.00123 MF and 70% residual.

That will be a pretty expensive 15,000 miles to drive, at those numbers.

sander104

@sander104 said:
Hi there,

Could I please get MF and residual for a 1.8 Premium at 7500 miles for 24 months?

Thanks!

kydfx,

Thanks for the numbers. So to be honest, I guess I'd never thought of it as cost per mile driven. I should explain that at the moment, I use a lot of carsharing (Zipcar), so I guess I'm already paying a high cost per mile (but the convenience is great).

With the figures you just gave me punched into the calculator (along with taxes and everything else) I'm seeing the total cost of the 2-year lease to be approximately $13k. I suppose you're saying that's a very costly lease, correct? However, it's comparable to what I'm paying for carsharing, so I come out better relative to that.

But also, I need the car more for convenience than raw mileage (lots of small short trips). In fact, I may drive much less than that 7500 per year (I just thought 7500 was usually the minimum you could go). I thought that was actually a good thing for a lease, since it keeps the residual high...

Do low mileage, short term leases not make sense at some fundamental level?

Thanks for the help!!

mooglemd

Ordered my car yesterday, since no one has any Prestige models with tech pack on the eastern part of the US.

I ended up with a 2.0 Prestige, Advanced tech pack 36 month 10k mile lease
MSRP 44375
Cap Cost 41375 + Audicare
Adjusted Cap Cost 42210

I'm paying freaking NY taxes and fees up front for 3800$... (1916 sales tax, 695 acquisition fee, 290 license and registration, 398$ documentation fee + first months payment if it does not arrive by Sept 3rd)

536$ a month. Does this sound right? They told me that if it arrived before Sept 3rd, audi would pay the first month and it would be like 3270 (or lower if I transfer plates). I know the documentation fee sounds high to me, but the price they gave on the car seems to balance that down.

They also told me I am locking those rates in for now, but if they improve by delivery, I can have them changed. Is this true?

mooglemd

@sander104 said:
Do low mileage, short term leases not make sense at some fundamental level?

Yes. But mostly because the initial dip in depreciation (ie what you are paying for in a lease) is tremendous. After 2 years the depreciation slows down. For example say on a 30k car, you lose 9% of the value in the first minute... which is 2700$ and 19% in the first year 5700$, then 31% at 2 years which is 9300$... the 3rd year is less at 42% 12600 or so...

Basically you take the largest hit on the first year, and less each year after that. In a short term lease you pay for the most expensive part of the car. For short term driving, if you consider a used off lease car that had been leased for 3 years, you're looking at from years 3-5 maybe 18% depreciation, which is 5400$ to drive it for 2 years, vs 9300$. But again it's up to you.

edmunds.com/car-buying/how-fast-does-my-new-car-lose-value-infographic.html

sander104

Ahh, yes that makes perfect sense. Thanks for the explanation, mooglemd!

kyfdx

The residual only drops 7% to go from 24 month to 36 months... and, if you are happy with Zipcar, then I'd look for a cheaper car than an Audi A3 (and, I love Audis).

magicwv

Got a quote for an 2.0 Prem w/MMI (37k sticker). $6k out the door, $320/36 months, 7.5kmiles. How does this sound?

Michaell

@magicwv said:
Got a quote for an 2.0 Prem w/MMI (37k sticker). $6k out the door, $320/36 months, 7.5kmiles. How does this sound?

How much of the $6000 is used for cap cost reduction? It's not a good idea to buy down the payment that way; if the car is stolen or totaled, you are out that money.

Rather, you can take that money and make MSDs to lower the MF - and your payment. Plus, you'll get the MSD money back at the end of the lease.

Also, what is the net cap cost?

magicwv

The baseline price would be $36,642, so $6,000 down would make it $30,642.

Michaell

@magicwv said:
The baseline price would be $36,642, so $6,000 down would make it $30,642.

I'm not certain that's how it works .. there are other fees and taxes that are often paid up front, so not all of the $6K would go to cap cost reduction.

Also, you should be negotiating your best selling price off MSRP - you should easily be able to get 4-6% off before any down payment is applied.

Which, as I mentioned earlier, is not something we recommend.

magicwv

Cap price is $35,220. And first month payment is paid by Audi Finance from that summer deal event.

2015a3

Could I please get June MF and residual for a 2.0 Premium at 10K 36 months?

Michaell

@2015a3 said:
Could I please get June MF and residual for a 2.0 Premium at 10K 36 months?

.00150 and 64%. Audi will cover the first payment up to $600 this month as an incentive.

nolarebel

Could I get the June MF and residual on a 2.0 Premium at 12k, and also at 15k, for 24 and 36 months?

kyfdx

@nolarebel said:
Could I get the June MF and residual on a 2.0 Premium at 12k, and also at 15k, for 24 and 36 months?

24mo, 15K/yr = .00150 MF and 68% residual.

36mo, 15K/yr = .00150 MF and 61% residual

Add 2% for 12K/yr

cass8

I'm about to purchase an A3 2.0 Premium, $35,710 MSRP/$31,400 sale price, 48 months/15k, 54% residual, mf .00218. This seems like a good deal after a day driving around trying to find a better price. I am still, however, confused why the mf is so high. Any thoughts? Thanks.

cass8

@cass8 said:
I'm about to purchase an A3 2.0 Premium, $35,710 MSRP/$31,400 sale price, 48 months/15k, 54% residual, mf .00218. This seems like a good deal after a day driving around trying to find a better price. I am still, however, confused why the mf is so high. Any thoughts? Thanks.

Forgot to mention the payment, $418 a month with no money down.

kyfdx

@cass8 said:
I'm about to purchase an A3 2.0 Premium, $35,710 MSRP/$31,400 sale price, 48 months/15k, 54% residual, mf .00218. This seems like a good deal after a day driving around trying to find a better price. I am still, however, confused why the mf is so high. Any thoughts? Thanks.

The money factor is high, because Audi doesn't incentivize the money factor for terms beyond 42 months... The 42 month money factor is .00170, and the residual is 5% higher.... You might find that the payment is the same, or maybe even a little less on a 42 month lease.

gli

A3 1.8T 36/months 15k/year:

1) MSRP: $31,890
2) MSRP: $31,495 (Cold Weather Package)
3) MSRP: $33,595 (Cold Weather Package + Aluminum Style Package)

MF + Residual please?

Michaell

@gli said:
A3 1.8T 36/months 15k/year:

1) MSRP: $31,890
2) MSRP: $31,495 (Cold Weather Package)
3) MSRP: $33,595 (Cold Weather Package + Aluminum Style Package)

MF + Residual please?

MF is .00123 for all trim levels.

Residual values:

Premium 59%

Premium Plus 56%

Prestige 54%

gli

Thanks, Michael. Which one is the Premium package, the Premium Plus, and the Prestige?