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Audi A3 Lease Questions

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  • teddyohteddyoh Posts: 7
    First time poster. I've been following the A3 for months now. I really wanted to jump on the lease deal back in April or so when the Premium/Open Sky was $379. However, I wasn't able to do it at that time.

    Now, it's the end of the model year for the 2007's, and I'm ready. I know there are plenty left on the lots. I live in New Orleans, but have also been looking in Baton Rouge and Houston. Plenty available, but the financing is ABSOLUTELY AWFUL!

    I didn't even ask the MF or residuals, because the quote I got for $3000 down, 48 month, 12k miles was "a little over $600 a month!" I was disgusted! I am leasing a 2007 GMC Acadia which has an MSRP about $15k more than the A3 for that! It seems obvious that Audi is not serious about selling these A3's.

    That being said, I really like the car, and the 2008 changes seem minor, but cool. Sirius is standard and iPod link is available now. I know they are in the US, as a dealer has told me they are in the port of Houston.

    Does anybody have any idea about time from port to lot? Also, I echo the question above. Any ideas about lease specials on the new model year? Does Audi have a track record with that?
  • Hi all. I'm a first-time poster as well and I too have been watching and hoping for better lease deals on the A3. Is there a chance that they'll offer more appealing deals on the 2007s once the 2008s are on the lot? I really want an A3, but I'm not very impressed with the lease terms I've seen so far.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks intuneman. The money factor that you mentioned in your post is right on the money. However, Audi Financial Services' current residual value for a 36 month lease of a 2007 Audi A3 2.0 S-Line with 15,000 miles per year is only 46%. The residual value for an otherwise identical lease with 12,000 miles per year is 48%. These residual values are lower than you thought because the residual values of models that are equipped with the S-Line package are 2% lower than normal. As you mentioned, the addition of Audi Care would raise your car's residual by one point.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jkevinc. Through September 4th, Audi Financial Services' buy rate lease money factor for a 24 or 36 month lease of an '07 A3 is definitely .00205. The .00330 money factor that you were quoted looks more like AFS' standard lease money factor. Perhaps the dealer is trying to use the standard rate on your lease so that they can take advantage of the $1,500 dealer cash that Audi introduced on the '07 A3. Have them calculate your lease payment using the .00205 money factor and see what sort of payment they come up with. If they are unwilling to work with you, I'm sure that you won't have much trouble finding a dealer that will.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome aboard teddyoh. Audi has introduced a lease program on the 2008 A3, but it is not very good yet. Through September 4th, its buy rate lease money factor for it is .00317. I suspect that this money factor will get better over time, but in general Audi has not been providing a lot of support on the A3. It is a little too expensive for what it is for my personal taste.

    Car_man
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  • hnethnet Posts: 3
    Just getting into the market and love the A3. I live in San Francisco. What is the best MF I can hope for an '07 or '08? Not in a huge rush, so I'm not sure if I should try to pickup an '07 or wait for a leasing deal on the '08. It looked like Audi had a leasing special back in April on the A3. Any thoughts on when that will come back around? My buddy just got a great lease on a Q7 and an initial probe into leasing an '07 A3 was almost the same monlty payment!

    Thanks in advance for any and all advice!
  • jkevincjkevinc Posts: 2
    Thanks Car_man. You are so right that the .00205 MF was from AFS. I had an excellent price on the 07 A3 which included a corporate discount; however, when I entered the dealer to buy the car the AFS rate quoted for a 24 month lease was not available. Apparently AFS rates start at 36 months. I left the dealer after they presented me with the .00330 MF. It would have been a great deal with the 07 discounts that were being pushed.

    jkevinc
  • pfjepfje Posts: 25
    Hi Car man,

    I live in Maryland and I am looking to lease an Audi3. I visited the local Audi dealer and they gave me this price for Audi A3 2.0T with automatic trans, S-package, and cold weather package.

    MSRP: $31,385
    Selling price: $31,284

    Could you work up a lease package for 24 months/15,000 per year? What is the money factor and what is the residual?

    Thanks in advance.
  • Hi hnet. Unfortunately, Audi is not providing much in the way of lease support on the A3 right now. As a result, it is not that great a car to lease. There are a lot better deals out there. Audi's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 12,000 miles per year. Let me know if you want something different. Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2008 A3 2.0T with 12,000 miles per year are .00307 and 53%, respectively. The numbers for an otherwise identical lease of a 2007 model are .00307 and 49%. Audi is currently providing $1,500 dealer cash on the 2007 model, but no dealer cash on the 2008 model.

    It is difficult to say what Audi's future lease program on the A3 will look like, but I do not personally expect it to make any significant enhancements to the A2's program in the near future.

    Car_man
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  • Hi pfje. You're only being given a $100 discount on the A3 that you are interested in :surprise: . I am not personally all that familiar with what the market is like for the A3 right now, but that's not a very good deal. Combine the lack of discount with this car's lousy lease program and it becomes a pretty expensive vehicle to lease.

    You never mentioned what model year the car that you are considering leasing is, so for now I will assume it is a 2008 model. Through October 1st, Audi Financial Services' 24 month, 15,000 mile per year buy rate lease money factor and residual value for the 2008 A3 2.0T Sedan with the S-Line Package are .00307 and 58%, respectively. Using these numbers, an MSRP of $31,385, and a selling price of $31,284, I estimate that your zero down, pre-tax monthly payment should be around a whopping $697. There are a TON of nice vehicles out there that you could get for less than that.

    Car_man
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  • hnethnet Posts: 3
    Hi Car_man,

    Been told by a couple of local dealers that a new leasing incentive just started for the A3's this month. Any idea how long the new incentives will last? Looking to get a 2008 2.0T w/ Premium Package, Open Sky, and iPod Interface. 36 month lease @ 12,000 miles per year.

    Thanks!

    hnet
  • tzhangtzhang Posts: 3
    Hey Car_man,

    I am wondering if it's possible to return a premier purchased A3 back to Audi early ? Currently I have 24-month payments to go.

    Thanks

    --TZH
  • Car_man,

    My Audi dealer told me that they have dealer cash until October 26th. Seems like an odd date for the cash to end. Any idea of when it really ends? Am looking at a 2007 A3 w/premium, open sky, metallic paint and 6 CD. Any idea of price? They offered $27,900. Thanks for comments!
  • Car_man,

    How much is the early termination charge for premier purchase program?

    Thanks

    --Tony
  • cmelcmel Posts: 1
    Hi Car_man,

    I’m looking to lease a 2008 A3 2.0T S tronic with Preminum package, open sky, and ipod interface. My local dealer offers me this:

    MSRP Price: $32,385.00
    Invoice Price: $29,845.00

    Your Price: $29,500.00
    Lease 36 months at 10K miles per year:
    Drive Off: $2,000.00
    36 months at: $365.01 + Tax

    What do you think? Is this a good price or still can negotiable?

    Thanks,
    cmel
  • It is a good product, but whatever you do, don't use Audi Financial for a lease.
    Who ever you do use, be prepared at the end of the lease to get charged plenty. Audi uses a third party to inspect cars, and this third party has nothing to loose in charging for bogus wear and tear charges. Then they will take the car off the lot the same day, so if you do have an issue, it cannot be re-inspected. It reaks of rip-off. BMW has a much better turn in program, and they seem to be honest. If you really want this car, I would purchase it rather then lease. If you do end up leasing, I will wager that it will be your last Audi.
  • Hello,
    I am new to the forum and not all that brilliant at number crunching. Can someone evaluate this lease offer and provide an opinion on whether it's a decent deal? Or maybe throw in some tips on how to get a better deal? Thanks so much!!

    $279 lease per month for 36 months

    Down payment: $2,500
    Refundable security deposit: $300
    Acquisition fee: $575
    First month's payment: $279
    Amount due at lease inception: $3,654

    36-mo. closed-end lease offered to qualified customers by Audi Financial Services through participating dealers. Must take delivery by 1/2/2008. Rate based on $29,305 MSRP of 2008 Audi A3 2.0T Premium 6-Speed with 6-speed manual transmission, premium package, panorama sunroof and destination charge. Purchase option at lease end for $16,118.

    Required dealer contribution could affect final negotiated transaction. Lessee responsible for insurance and may have some financial liability at lease end. Lessee responsible for $0.25/mile over 10,000 miles per year and a disposition fee of $350 due at lease end.
  • Hi,
    It looks like the lease payment is too low, maybe a typo?

    Here's the current A3 lease deal Audi is offering, seen on a California Audi dealer site:

    _______________

    $349* lease per month for 36 months
    Now through January 2, 2008

    Down payment: $2,499
    Refundable security deposit: $350
    Acquisition fee: $575
    First month's payment: $349
    Amount due at lease inception: $3,773
    Excludes taxes, title and dealer fees

    *36-mo. closed-end lease offered to qualified customers by Audi Financial Services through participating dealers. Must take delivery by 1/2/2008. Rate based on $30,785 MSRP of 2008 Audi A3 2.0 T with DSG, Premium package, open sky panoramic roof and destination charge. Purchase option at lease end for $16,932.

    _______________

    I'd LOVE to get an A3 for $279 a month if that's true ;)
  • Wait, I see it! You're right, $279 per month in DC! Whiskey Tango Foxtrot? Why would Audi have such a different program between east and west coast?
  • Hi hnet. Audi is running a special lease program on the 2008 A3 this month, but it is only available in certain areas, specifically California, Washington DC, and Florida. In these areas, Audi Financial Services' buy rate lease money factor and residual value for a 36 month lease of an '08 A3 2.0T Premium with 12,000 miles per year are .00075 and 53%, respectively. The residual value for leases outside of these areas would be the same, but the money factor would increase to .00286. This lease program is scheduled to run through January 2nd.

    Car_man
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