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Audi A3 Lease Questions

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  • hattrihattri Posts: 3
    Car Man,

    Could you please provide lease params for A3 TDI 36 months, 15000 miles for Jan 2010?
    Do they change if it is Premium Plus?

    Thanks a lot in advance!

    Best wishes
  • 1st Month Payment: 397.99
    Security Deposit: none
    Acq Fee (Upfront): 625.00
    Fees & Ins: (Upfront): none
    Upfront Taxes: 1,495.63
    Cap Reduction (Cash): none
    Total Inception Fees: 2,518.62
    Net Trade as Cap Reduction: none
    Rebate as Cap Reduction: none
    Total Drive Off: 2,518.62

    AUDI A3 4dr HB 2.0T quattro Premium AT w/AC; Automatic; Cold Package
    MSRP: 32,175.00

    Let me know what you guys think? Thanks.
  • Thanks hattri. Here's the information that you're looking for. Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 A3 TDI with 15,000 miles per year are .00173 and 54%, respectively.

    The money factor for the Premium Plus trim level is exactly the same, but its residual value drops to 51%.

    Car_man
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  • To better assess the deal, you'll need to provide a little bit more information, such as: car invoice price, cap cost, lease length/mileage, and negotiated money factor (if not at buy rate).
  • sjmdsjmd Posts: 1
    Hello Car_man
    I am looking to lease an Audi A3 quattro with a premium plus package.
    Any promotions that Audi is currently running?
    I am looking for a 36 mo lease at 12k mile/year.
  • jayriderjayrider Posts: 3,329
    I'm seeing a local add for zero down $299 plus inception fees for a premium fwd A3 -10k miles 42 month lease. No figures -- not in the market yet so didn't research the deal.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited March 2010
    Hi sjmd. Audi is providing lease support on the 2010 A3 this month. Its current buy rate lease money factor and residual value for a 36 month lease of a 2010 A3 Premium Plus quattro with 12,000 miles per year are .00062 and 50%, respectively.

    Audi is providing owner loyalty cash on this model for current owners and lessees.

    Car_man
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  • mdc1114mdc1114 Posts: 7
    I'm looking to lease a new A3 TDI Premium Plus, optioned out with an MSRP of about $34,000. Any ballpark idea of what the monthly payments would be with a down payment of $3,500 for a standard 36/12,000 lease.

    If it makes a difference, I'm in the DC area. Would you also provide the money factor, residual etc.

    Thanks for your help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mdc1114. the car that you're interested in probably has a spread of around $2,300 between its full MSRP and its dealer invoice price, give or take. Let's work up a sample payment on one assuming that you were able to get it for $500 over dealer invoice.

    According to my calculations, if you were to lease a 2010 Audi A3 TDI Premium Plus that has an MSRP of $34,000 and a selling price of $32,200 through Audi Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $481.

    A $3,500 capitalized cost reduction, which I advise against making, would lower this car's payment to around $378.

    I used a money factor of .00173 and a residual value of 53% to arrive at this payment.

    Car_man
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  • Hi Car Man: Looking to lease at 2010 A3 Quattro, with Nav, Open Sky, MMI, SportPackage and Premium Plus. MSRP $36,125

    They are quoting the following:
    $2000 cash, 15k per year, 42 months, LA county Quoting at MSRP, 539 plus tax. Residual 45%, mf .00078

    The residual seems very low and the rate very high. Whats you take on residual, money factor and what they should sell the car at?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi flyfish23. The residual value that you were quoted looks about right, but you're correct the money factor that you were quoted is indeed too high. Audi Financial Services' current buy rate for a 42 month lease of a 2010 A3 is .00028. Make sure to insist that the dealer uses that factor to calculate your car's payment.

    I am not personally all that familiar with what the market is like for the A3 in your area right now, but I would be very surprised if you couldn't do better than full MSRP. Between the high selling price and the marked up money factor, I personally would want to shop around to see if I could find a different dealer to work with if I was in your situation.

    Car_man
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  • Hi Car man:

    What are the residuals for the A3 Quattro at 36, 39 and 42 months with 12 and 15k per year?
  • oli1oli1 Posts: 33
    I am interested in the A3 TDI, but worried about reliability. Would I be better off leasing or purchasing?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, flyfish23. Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 A3 2.0T Premium quattro with 15,000 miles per year are .00062 and 50%, respectively.

    The numbers for an otherwise identical 39 month lease are .00082 and 48%. This car's 42 month numbers are .00082 and 46%.

    If you were to lease it with only 12,000 miles per year, its residual values would be 2% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi oli1. One of the advantages of leasing is that as long as you are not over mileage and don't have any excess wear and tear you can just walk away from your vehicle at lease-end for free if you're not happy with it. This feature comes in handy with vehicles that have been in serious accidents. Even if it a vehicle has been repaired properly, an accident is going to take a serious toll on its resale value. On a lease, the bank has to absorb that hit, not the lessee. The same goes for problem vehicles that don't quite qualify for the lemon law. If you are afraid about the reliability of Audi's TDI engine then you may be better off leasing.

    Car_man
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  • eurocar3eurocar3 Posts: 1
    Offer on Audi A3 premium quatro with bluetooth package, heated seats and metallic paint. I have $500 audi loyalty and live in Michigan (sales tax 6%) 12000 miles per year for 3 years
    MSRP 33250
    Selling price 31997

    Payment at deal $ 1369 includes $500 loyalty
    Monthly payment 467
    The numbers they use are residual 0.52 and rate 0.00093
    Does not include audicare

    The rate seems high. Is this a decent deal
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi eurocar3. Let's take a look at this deal. The dealer invoice price for the car that you described is $30,982. That puts the selling price that you were quoted at around $1,000 over invoice if the $500 loyalty cash has not already been taken into account and $1,500 over if it has. If you are in an area that has a decent level of competition, I would not be surprised in the least if you were able to negotiate a price more like $500 to $750 over invoice.

    Also, the money factor that you were quoted for this car is way too high. Audi Financial Services' current buy rate lease money factor for a 36 month lease of a 2010 A3 2.0T quattro Premium is only .00043 for consumers who qualify for its top credit tier. Make sure that the dealer uses this factor to calculate your payment.

    Car_man
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  • jp540jp540 Posts: 1
    Hello Car Man,

    I'm looking to lease an A3 with a MSRP of $32,675 in California. Currently, Audi has a 10,000 mi/yr, 39 month lease special running on this car for $399 a month with $999 down.

    My questions to you are:

    1) If you think it would be reasonable to get this car for around $360 a month with 12,000 mi/yr?

    2) Does a 12K vs 10K annual mileage affect the depreciation and lease rate structure? More so than just a tacked on extra $X amount per month?

    3) Edmunds says the invoice price of this car is $30,448, though one dealer is telling me it's $31,069. Think there is any truth to this??

    Thank You for your help.
  • kyfdxkyfdx Posts: 29,371
    12K vs. 10K lowers the residual by 1%.. That will add about $9/mo, to the lease payment...

    As to your first question, the lease you propose would result in a selling price of $1900 less than the advertised special.. Don't know if that's reasonable or not...

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jp540. Manufacturers' official advertised payments definitely usually leave a little meat on the bone in terms of the selling prices that are used to calculate them. The problem is that they don't include sales tax and they are usually for lower mileage allowances than most people drive. Once you switch the advertised lease to 12,000 miles per year and ad CA's massive sales tax there's a good chance that you'll be right back at the advertised payment, or even higher even if you are able to negotiate a lower selling price.

    Switching from 10,000 miles per year to 12,000 miles per year lowers Audi Financial Services' residual value percentages by 1%.

    I suspect that Edmunds.com has the dealer invoice price correct and that the dealer you spoke with is adding some sort of fee or fees to arrive at the higher price that they mentioned.

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  • Hi Carman,

    I've got an '08 A3 2.0T with a lease that expires in mid-November. I've just spotted a 2010 A3 TDI Premium Plus with the convenience package, cold weather package, and Bose for $31543. Could you tell me the current residual rate and money factor for A3 TDIs for 3yr/36K leases? Is Audi running any customer loyalty program right now? Does Audi ever buy you out of an existing lease to get you into a new one, or should I expect to pay several month's worth of duplicate payments? Thanks for the help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, westoftown. According to the latest information that I have seen, Audi Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 A3 TDI Premium Plus with 12,000 miles per year are .00174 and 51%, respectively. That residual value is definitely right, but the money factor might be old and off slightly.

    Audi is currently running a loyalty program on the 2010 A3. It is providing $1,000 on purchases and $500 on leases to current owners and lessees of its vehicles.

    A number of manufacturers run official early lease termination programs from time to time. While it's possible that Audi has such a program right now, I have not heard anything about it if it does. Chances are that you will be better off waiting until the scheduled end of your lease to get something new.

    Car_man
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  • nebatuganebatuga Posts: 9
    I'm really curious about how Audi handles early lease termination when you pick up a new Audi lease. I'm about half way into an A3 lease through AFS. When I had the car in to the dealer for service, I was browsing the showroom. A sales person came up and told me that it's no problem to turn in a car early, as long as you sign a lease on another Audi. He made it sound as if there were no penalties. They simply evaluate the market value of your current car, do some calculations, and voila!-- "here's what we can do on a new lease." He also said the "sweet spot" for market valuation of your current car is likely around the two year old point. I didn't get the specifics from him, nor am I able to find any information about how this process works. Anybody know?
  • jayriderjayrider Posts: 3,329
    Check your lease for the residual. Then add up all your payments as if you put zero down. Check trade in values for your model and see if there is any equity. I doubt there is so you will be charged for the lease buyout. Have them run the numbers and don't forget you will lose the sales tax on the current a3 and be recharged for tax on the new one. Unless you are having problems with your current a3-- why even consider a swap unless you can save on the payments big time.
  • nebatuganebatuga Posts: 9
    Thanks.

    How do you figure "equity," provided the three figures you reference in your post?

    No problems with my A3. Really nice car. I like it just fine, but I haven't loved it (as I did previously leased A4s). I wouldn't have even considered trading, but the sales associate made it sound pretty easy. I figured if it's not too costly, I'd look into it. Obviously, I know that paying for the remaining payments (all 21 of them!) is too costly. But if there's no penalty for moving from one Audi lease to another, and you can roll into a new lease (or pay cash up front) a modest difference between whatever two values they use to determine a deal, then it might be worth considering. My suspicion is that it would be a pretty costly move, or more folks would do it.
  • jayriderjayrider Posts: 3,329
    edited July 2010
    With 21 payments left, you will be penalized. To figure equity look at the residual value and add what you owe in payments. Then compare with the trade in values on various sites. If the trade in price is more than what you owe, you have some equity. I don't think the dealer is that hot for your A3 but you never know. Would wait until just a few months are left -- then test the waters.
  • caswil55caswil55 Posts: 1
    edited July 2010
    Hello,
    I am looking into buying a 2011 Audi A3 Quattro, with cold weather package and bluetooth in Colorado. I don't know if I am getting a good deal or not!

    Price of Car: $33, 625 (same as invoice- but I haven't even seen the invoice, as the car is currently being shipped from Germany)
    Monthly payment including 4.75% tax: $492 (15 k miles on 36 month lease)
    Money factor: 0.00129
    Residual: 57% 19,166

    These were not included in the lease payment:
    Acquisition fee: $625
    Dealer fee: $399
    Audi care: $790

    They seem very reluctant to go down on the price- I think they will drop it to $33,000 because they were trying to charge for some fancy tires that I didn't want.
    I don't know if they are reluctant because they don't import too many basic A3's or because this car is a new 2011, or because I am a woman!
    I have excellent credit, so maybe I could bargain them down on the money factor, the residual value, or overall cost?!? Or should I just accept it and take it as is?
  • jayriderjayrider Posts: 3,329
    What was the msrp ? The money factor and rv are set. You can negotiate the price of the car but if they are selling at invoice then that isn't bad. If you only need 12k miles per year the rv should improve by 2% to 59. The dealer fee seems high so I would ask for the Audicare to be included free to seal the deal.. Then sit on it awhile. Say you have other rides to evaluate. You could always offer to meet halfway on the $790 if you haven't found something else. A3's aren't the best leases but this one doesn't seem too bad -- 492 including taxes with 1800 down + first payment. You could save a bit by going with fwd. The awd system on the A3 is fwd biased anyway so it stays there except in hard acceleration. You will do fine in winter with fwd. Something to consider.
  • Hi Car_Man,

    Do you happen to know the current residual value and money factor for 2011 TDI Premium and Premium Plus?

    I'm also looking at a gently used 2010 TDI Premium w/ roughly 10K miles on it. Any idea why this car would be priced $500 over invoice for a brand new 2011, when it's a used 2010? Seems crazy.

    Thanks much!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly do, westoftown. Audi Financial Services' August buy rate lease money factor and residual value for a 36 month lease of a 2011 A3 TDI Premium with 15,000 miles per year are .00179 and 58%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical lease of an '11 A3 TDI Premium Plus are .00179 and 54%.

    The used A3 that you're interested in sounds as though it is way too expensive. I generally find that people who try to sell low mileage used vehicles underestimate the significant depreciation that new vehicles experience the moment that they are driven off the lot. I wouldn't bother purchasing a used A3 unless it was significantly less expensive than a similar brand new one.

    Car_man
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