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Audi A3 Lease Questions

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  • Hi tzhang. I am sorry to say that it is usually fairly expensive to get out of leases and balloon notes (which is what the Premier Purchase Program is) well before their scheduled end dates. In order to do so, you need to purchase the vehicle from Audi Financial Services. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your car by comparing its purchase price to its value on the open market at this time. You should place a call to AFS to find out its exact price. Once you know exactly how much money it is going to cost you to buy your A3 you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your vehicle's current value and how much it will cost you to buy it plus any remaining payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your current deal to get another new vehicle.

    Car_man
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  • Hi theresa11. In November Audi was providing $1,500 dealer cash on 2007 A3s, but as you have heard I do not believe that this cash incentive is available any longer.

    Car_man
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  • Hello cmel. A selling price of below dealer invoice is an excellent deal on a leased 2008 Audi A3 right now. I don't think that you are going to be able to do much better than this. Just make sure that the dealer you are working with uses Audi Financial Services' current buy rate lease money factor of .00286 to calculate your monthly payment and you're all set. Audi is running an enhanced lease program on this car in California, Washington DC, and Florida.

    Car_man
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  • Welcome lulu20. You never mentioned the selling price of the A3 that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you a detailed analysis of this deal if you let me know what its selling price is.

    Is this an advertised lease payment? Where did you see it? If it is an official Audi advertisement, there is a good chance that it leaves a little meat on the bone so to speak and that you might be able to beat it by comparison shopping and haggling a little over the car's price.

    One thing that I don't like about this deal is the $2,500 down payment. I always advise consumers against making capitalized cost reductions on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you would be better off going with a zero down lease on this car.

    Car_man
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  • Hi blakebart. For some reason, Audi is running a special lease program on the '08 A3 in California, Washington DC, and Florida right now. Its money factor for this car in these areas is .00075, versus .00286 in the rest of the country. This will make a significant difference in its lease payment.

    Car_man
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  • Thanks for the info car_man.

    The deal I posted is an official Audi advert. in the DC area. I emailed all the local dealers (there are only 4) and asked what the selling price of the car is and got back responses that they would all be happy to schedule test drives, but nothing concrete in the way of a selling price number...

    Do you have any tips on negotiating a better deal? What should I be especially certain to keep a lookout for?

    Thanks so much!

    Lulu
  • Car_man,

    Here's a specific response from one of the dealers and it seems that the MF is different from the one you stated is available in DC.

    Here are the terms:

    Down payment: $2,500
    Refundable security deposit: $300
    Acquisition fee: $575
    First month's payment: $279
    Amount due at lease inception: $3,654
    Excludes taxes, title and dealer fees
    55% and .00115
  • We went to look at some A3s

    Here was our best offer
    MSRP: 31,485
    Selling Price: 29,350
    MF: .0009
    Residual: 55 (56 if we take the audi service)

    what do you think? seems pretty great to us.
  • jnm3jnm3 Posts: 2
    the demand may be high where you and supplies may be low but if you are going to basically pay MSRP wait for the 2010s to get here. they aren't selling a lot of $36k A3's as it is so they should want to get the 09's off the lot but if not then i say wait. we got one last night that wasnt as pricey as yours but it ended up being $2,133 off invoice (though we do have an extra $500 loyalty credit).

    also that money factor is high. the current base is .00081 which our dealer gave us, how is your credit?

    im not sure your residual rate is correct on that car either.
  • jdmjdjdmjd Posts: 1
    As a California resident my son (age 25) is seeking to take advantage of Audi's special leasing before the end of today on an Audi A3 automatic. He has been given the price as $29,988. He has been offered a monthly payment of $311.84 with a $2700 down payment. Based on a post I saw on your site, is it worth taking the $895 wear and tear insurance option. He will be driving the full 15,000 miles per year and goes snowboarding a lot. Also, you mentioned the ability to negotiate more miles at a discounted rate. Is this at the time of the lease or later into it? What is a good residual value for this car? Finally, is a $350 fee upon return of the car mandatory or can we bargain that one away? Thanks for your help
  • novattnovatt Posts: 8
    I am looking for a MF, residual on an A3 with 12k/month on a 24 month lease.

    I am wondering if Audi is offering a customer loyalty incentive as I currently have an A6.

    Thanx Carman
  • Hey lulu20. The selling price that you were quoted for the A3 that you are interested in looks good. Just make sure that the dealer that you are working with uses Audi Financial Services' buy rate lease money factor of .00075 to calculate your monthly payment (for others reading this post, this is a special regional program that is only available in California, Florida, and Washington DC).

    Car_man
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  • Hi jdmjd. Unless your son is notoriously tough on his vehicles, he probably would be better off passing on the excess wear and tear coverage. Audi's WearCare plan is a different story though. The cost of this pre-paid maintenance plan is partially offset by a special residual value boost that Audi provides on leased vehicles that are covered by this plan.

    If your son knows that he will drive more than 15,000 miles per year, he would be better off paying for the additional miles that he plans to use at lease signing than waiting until the end of his lease and having to pay a penalty for excess wear and tear. Miles that are purchased at signing are less expensive.

    Audi Financial Services charges a $575 acquisition fee at lease signing and a $350 disposition fee at lease-end. Neither of these charges are negotiable, but AFS will waive its disposition fee for consumers who lease another vehicle through them.

    It is difficult for me to give you my opinion on the selling price that your son was quoted for this car without knowing what its MSRP is. The MSRP will show me how much of a discount he is being given. Let me know what it is and I'll tell you what I think.,

    I see that the deal that he was quoted includes a $2,700 down payment. He would be better off going with a zero down lease, even though it means his monthly payment will be a little higher. Consumers who make large down payments on leases risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.

    Once your son has arrived at a selling price that he is comfortable with, make sure that the dealer calculates his lease payment using Audi Financial Services' buy rate lease money factor. AFS' current buy rate lease money factor and residual value for a 36 month lease of a base 2008 Audi A3 2.0T with 15,000 miles per year are .00075 and 48% in California.

    Car_man
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  • Greetings novatt. Here is the information that you're looking for. Audi Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a base 2008 Audi A3 2.0T with 12,000 miles per year are .00286 and 58%, respectively in most of the country. In California, Florida, and Washington DC Audi is running a special, enhanced lease program on this car featuring a money factor of .00075.

    Unfortunately, Audi is not providing any owner loyalty cash on the A3 right now.

    Car_man
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  • zkaudiozkaudio Posts: 60
    Anyone have any figures for current a3 leases? I am more specifically trying to find what other people have paid. I am getting the runaround from all of my local SoCal dealers...
  • Hello,

    I live in Cincinnati, Ohio and I am looking for some input on whether the price I was quoted for a new 2007 A3 is a good one or not. The car is a 2.0T, 6 speed and not heavily optioned, only metallic paint and open sky. The MSRP is $27,910 and the selling price is $24,500, which includes the $590 maintenance cost waiver, if it is a purchase. This is the lowest the dealer will go.I thought 20% off the MSRP was a good price but that was rejected by the dealer.

    If I lease it, the maintenance cost is added on which increases the residual a little. The lease would be 36 months, 12,000 miles per year, and a residual of 42% or $11,792. The money factor is 0.00206. I have a 2000 Audi A6 2.7T with 80,000 miles as a trade and was offered $6,500. The lease cost with the trade in is about $324/month and about $475/month if I take the trade in money back in cash.

    My concern is that I'm not getting enough price reduction for a 2007, given the extra depreciation of the leftover 2007 model. I also think the trade in price is low,since the Edmunds estimate is about $8,500 but the dealer uses the Black Book. What do you think?

    Thanks,

    Mike
  • jccai1jccai1 Posts: 106
    Hi Car_Man,

    I'm interested leasing a 2008 A3 2.0T with S-line and S-tronic for 24-month, 12,000 miles/year. The residual and MF quoted to me by the dealer seem quite bad: 56% and .00345. I live in Texas, by the way. Do these number look right to you?

    Thanks a bunch!
  • Hi jccai1. Audi is running a special lease program on the 2008 A3 in certain states right now. Unfortunately, Texas is not one of them. As a result, if you were to lease one through Audi Financial Services in your area right now, you would have to use its standard lease money factors. Even though AFS' standard factor isn't great, it is a lot better than the .00345 that you were quoted. Its current buy rate lease money factor and residual value for a 24 month lease of a 2008 A3 2.0T with the S-Line package and 12,000 miles per year are .00261 and 57%, respectively. Make sure that the dealer that you are working with uses this lease program to calculate your car's monthly payment.

    Car_man
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  • Does this seem fair? I would prefer to have a zero drive off, is this possible with Audi?

    Below is the e-mail quote I received from the Internet Sales Manager:
    -----------------------------------------------------------------------
    2008 Audi A3 2.0T S-Tronic
    Lava Gray Pearl Effect
    Light Gray Leather
    Options:
    Premium Package
    Open Sky System
    Heated Seats
    Rear Side Airbags
    Wood Trim
    iPod Adapter

    MSRP: $32,685
    Internet Price: $31,272

    36 month lease with 10K miles/year
    $339 plus tax with $4,869 due at signing (structured like the lease ad).

    or

    36 month lease with 10K miles/year
    $425 plus tax with $1,856 due at signing (I took out the $2,999 down payment).
    --------------------------------------------------------------------------------- ----------------
  • gforce11gforce11 Posts: 225
    Ouch...it seems so much...I think the MF is so darn unattractive for Audi's right now.
    At this price, I'd probably head over to Infiniti for a G37
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