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Audi Q7 Lease Questions

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Comments

  • amirs4amirs4 Posts: 2
    I've been reading through the messages and there is alot of good information here. Thanks for all of the information. I am looking at a 2007 3.6 S-Line, here is what the dealer offered:
    MSRP: $57560
    Negotiated price: $55560
    Residual: 51%
    Rate: 2.5%
    36 Month/12K Mile per year
    $0 Down
    $951.66 monthly
    The salesman said the S-line has a worse residual than the non-Slines.
    Here's a pic for your troubles
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  • alex088alex088 Posts: 1
    :confuse: Hi, can anyone tell me if it is better to lease a car at the beginning of a year term(like in Sept. 2007 for buying a 08's model), Or it does not matter when you lease it. One of the sales tell me that if I wait till summer to lease one(2007 model), it will cost me more ? is this true? Please help , thanks
  • hoosbesthoosbest Posts: 39
    No one is going to have the specific info any time soon.

    Yes - the 2008s will probably cost more in MSRP - as I believe the prices are going up. Also, the potential discounts with the new model year will be reduced as well in the beginning. Dealers are incentivized to get the 2007s off their lot right now.

    On the flip side, you probably can expect a higher residual value in September on the 2008 year model whcih could also be offset by an increase in the money factor. Audi has been offering 1% area money factors for a number of months now.
  • kris17kris17 Posts: 18
    I'm interested in a Q7 3.6 and have credit score in the 720 range for all 3 credit scorce. Does anyone know who qualifies for the noted .00038 money factor for the 3.6l and .0007 for the 4.2 ....on the 36 month 15k lease? Would my credit qualify?
  • homantaghomantag Posts: 21
    Audi Financial (from what I was told), works ona "qualification" basis. Once you "qualify", there is no change in rate (i.e., anyone who "qualifies", gets the same rate). I qualified with scores of 680, 690, and 725, so you should be fine.
  • kris17kris17 Posts: 18
    Great ....I'm off to the dealer!!!!
  • Dear Car Man,
    I live in South Florida and after waiting for 3 months, I will finally pick up my 3.6 Premium S-line this weekend. MSRP is $57005 and selling price is $52990 plus dealer fee. Dealer is telling me that 36/15 MF "Buy" and "Sell" rates are different. Shall I insist on a "Buy" rate or give in? What is the current rate to go by?

    Dealer is also saying that S-line has 50% RV based on 36/15 that can be bumped to 51% with Audi Care? How much is Audi Care and should I get it?

    They mentioned that if I put $3100 towards security deposits (I guess 4 x $775) the MF will go further down but I don't know for how much.

    You have helped many and we all respect you for that immensely. Thanks a million in advance. Z-man
  • hspderhspder Posts: 13
    I'm not car_man but I since I haven't seen him around in a while, I'll take a stab at it myself:

    2007 Audi Q7 3.6 Premium:
    36 Month, 15k – Residual 51% of MSRP – 0.00038 Base ("Buy") Rate

    Residual is +1% with Audi Care, -2% with S-line, so *with* Audi Care it should actually be 51 - 2 + 1 = 50%. Your dealer is giving you 1% extra somehow. Strange.

    Audi Care is around $570 and hence pays for itself (1% of MRSP = $570). So do it!

    Even with such a low monthly payment, DO NOT do ANY more than 1 security deposit; after the first one (if you don't put it down, your MF increases by 0.00015, which will cost you $450 in interest over the life of the lease, but multiple SDs will decrease the MF by much less), at these extremely low Money Factors, the opportunity cost is far greater than the reduction in interest. Generally, you should minimize the drive-off as much as you can.

    (actually, for people who have a monthly payment above the $1k mark, you shouldn't even put down the 1 security deposit, since the opportunity cost will be greater than even the $450).

    Yes, "Buy" and "Sell" rates can be different; your dealer is giving you a price pretty close to invoice so he's trying to make money on the lease. That's normal -- but be careful on how much he charges up. Ask for the total interest. By each 0.00035 he marks up the MF, he's pocketing around $1,000 extra from you. So be careful!
  • mikeoc1mikeoc1 Posts: 46
    You are not correct in the advice not to put down more than one security deposit. I will be taking delivery of my 3.6 Premium on Saturday. My money factor was 0.00038. I am giving them $3000 (4 security deposits) and lowering the money factor to 0.00006. It saves me $30/month in payments. $360/year on a $3000 fully refundable security deposit is 12% tax free on a very low risk investment. Have them quote you without security deposits and with and see the direct savings with and make your decision from there. Good luck
  • kris17kris17 Posts: 18
    I just leased a white w/beige 4.2l Q7 premium w/ tow pack. And 20” wheels for MSRP $61090 … for $2000 UNDER invoice. I planned to do this lease in a month or 2 but I got this e-mail from a HBL of Tyson’s in Va. (Someone who I had initially contacted about inventory) who was offering $2000 under invoice on all Q7s in stock. I rushed down and found the exact car I wanted (they have a huge inventory of Q7s) about 2 months earlier than I had planned. While closing the deal I was told “I got the last slot” available on some “limited promotion” of 21 slots Audi was giving the dealers to subsidize this $2000 under invoice thing. I don’t know how true it was, but I do know they had at least 30 2007 Q7’s with new 2008 Q7s on the way. My deal was:
    $2000 under invoice
    Sec deposit and 1st month
    Acquision fee $575
    Title fee $23
    MF .0007
    Residual after Audi care 49% boooo
    License fee $216
    Sale Tax 5.2% for Maryland where I live $2867
    Documentation fee $345
    Audi care $590

    Wonderful car..probaly more car than I need (I wanted a loaded 3.6L) but this was about $3k more so why not….
    I believe at this point anyone can get invoice for any 2007 Q7 in any dealers stock.
    Now I have to figure out how to pay for the $90 tanks of gas?
  • I am looking at getting a 3.6 premium. With options, selling price is $52,100. What kind of monthly payment would I be looking at? Everytime I seem to calculate, I get wrong numbers compared to everyone else posting. I have perfect credit, and my tax rate is 6%.

    Thanks...
  • hspderhspder Posts: 13
    I'm assuming a 36 month, 15k lease, WITH Audi Care, of a non-S-line 3.6 Premium. Because you didn't quote the MSRP, I'm also assuming you are paying MSRP. I am also assuming your cap cost increases (license fees, dealer fees, etc.) are similar to California's. Finally, I'm also assuming you are putting down the first month twice: once as security deposit, the other as drive-off.

    Yes, it's a lot of assumptions, but you are not giving us much information...

    MF: 0.00038
    Residual: 52%
    Cap Cost $53,861.80
    Residual Value $27,092.00
    Depreciation $743.61
    Interest $30.76
    Sales Tax $46.46

    Total Monthly Payment: $820.83
  • ody02tjkody02tjk Posts: 66
    I am looking for a Q7 as well. You gave all your costs at purchase. Can you tell me what your monthly lease payment is?
  • mikeoc1mikeoc1 Posts: 46
    I just took delivery of my 3.6 Premium. Bright silver, black interior, Convenience, Technology, Infotainment, Moonroof, 19" wheels. I absolutely love it. There is PLENTY of power with the 3.6, especially in Sport Mode. It is total luxury, incredibly smooth, very fun to drive. Bluetooth integration is flawless with my Motorola Q. The NAV system works very well (although the lady's voice is a bit robotic). BOSE system is decent.

    The MSRP of my car was $55,670. I am leasing for 36 months, 15,000 miles per year. I gave Audi a $3,000 refundable security deposit to lower my Money factor to 0.00006 (0.14%) Doing this saved $30/month in payment. I also have Audi Care. All scheduled maintenance is covered. Since they add 1% to the residual value, the payments didn't change at all. I paid $1785 at lease signing (first month payment, acquisition fee, registration, etc) plus $3000 security deposit. My payments, including NJ taxes, are $732.
  • carhead2carhead2 Posts: 3
    Can someone please tell me this month's money factor and residual value from Audi Financial for both the 3.6 Premium and 4.2 Premium Q7 -- 12K miles, 36 months? Thanks.
  • asteinbergasteinberg Posts: 138
    (1) For the 3.6 and 4.2, what is the MF for May?
    (2) A few months ago, at one So Calif dealer, there was an Audi promotion to pay the first month? At that time, it was invoice+$1000 -first month ($800) -- which meant net cost of invoice+$200. Is there any current promotion?
    (3) Can you get closer to invoice and still get the good MF?
    (4) What will purchase of AudiCare due to transaction?
    (5) How do deposits work?
  • erubensterubenst Posts: 3
    carman:

    Could you confirm the may lease rates (residual % and money factor) for the Q7? 3.6 premium? 10,000 miles per year?

    thank you very much
  • tmorefitmorefi Posts: 6
    I have never leased a car but when attempting to buy a new 4.2 Premium Q7, my local dealer is pushing me towards a lease. I always sell in 3-4 years so I guess I should consider it. The car I am looking atis a Q7 4.2 Premium with towing, Ipod interface, 20" wheels, and Sirius. The MSRP is $63k. The dealer is looking for $10k down and a monthly of about $875/month for 20k miles/yr. We do need that many miles. I don't understand the residual stuff but does all this sound right? Can I push for anything? Thanks for the help..
  • That's a horrible deal when you factor in the down payment. You'll be $40k into this car at the end of 3 years and should look at a purchase at that point.

    I'm generally a fan of leasing, but the numbers have to work out and your's don't with that down payment.
  • hspderhspder Posts: 13
    I agree. For a 20k/yr lease that's actually a good monthly payment BUT as we discussed before here it's just a bad idea to do a lease for those many miles a year -- and definitely a bad idea putting that much money down.

    You're much better off doing a 15k/yr lease with AFS (low MF) and then at the end of the 3 yrs, trade in or sell to CarMax or something. Even if you're slightly upside down, at least you weren't paying interest you didn't need to.

    Even if you do a 20k/yr lease, DO NOT, EVER, put that much money down. If you total the car, or something else happens, you're hosed. Remember: the car IS NOT YOURS in a lease; there's absolutely no reason you should put ANY money down!
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