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Audi Q5 Lease Questions
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Thanks!
Looking for a 36 Month Lease
2012 Q5 2.0 Premium Plus with NAV, B&O, Rear Side Airbags
Thanks!!
We live near Cleveland Ohio and My wife is coming out of an 08 Lexus RX lease in December and would like to get into something new.
We test drove a 2011 Q5 3.2 with Nav and the standard sound system and she loved it. (of course we didn't let him know how much...) We were Quoted $46,350 out the door. We want to lease for $0 down, 39 months, 15,000 mi per year. His monthly figure came to a total of $758 per month.
Does this look like a good Quote? (seems a bit high to me) I'm not sure how to figure the money factor thingamajig that you often speak of, so I wonder I you could direct us to the area on the site that instructs us how to figure that out for future reference. Thank you for your help.
Car_man
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Car_man
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Let's work up a payment on this truck for you and see what we come up with. According to my calculations, if you were to lease a 2012 Audi Q5 3.2 that has an MSRP of $46,875 and a selling price of 45,125 ($1,000 dealer discount - $750 loyalty cash) through Audi Financial Services right now for 36-months with 10,000 miles per year, your zero down, pre-tax monthly payment would be around $657.
A $2,000 dealer discount would drop this car's payment to around $627.
If you provide me with an exact selling price I'd be happy to use that in my calculations.
Car_man
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One can't really calculate a vehicle's money factor. That is a number that is published by the bank that you are leasing through. It is important to know what your vehicle's money factor is and what the dealer is charging you though because dealers are often allowed to mark-up vehicles' money factors to add additional, hidden back-end profit to deals.
Audi Financial Services' current buy rate lease money factor for a 39 month lease of a 2012 Q5 3.2 Premium Plus is .00188 for consumers who qualify for its top credit tier.
Car_man
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Audi Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2012 Q5 2.0T Premium Plus with 15,000 miles per year are .00157 and 52%, respectively for consumers who qualify for its top credit tiers.
Car_man
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I've been quoted the following by 2 different dealers for Q5s, 2.0 PP w/nav.
1) 44,250 msrp - 6% discount 41,650 net price. 10k miles, 36 mo prepaid lease. $24,196, 56% residual. Includes all taxes and fees. This dealer would have to order the car...2 month delivery.
2) 45,570 msrp (slightly different eqpt). No discount on the price offered yet. 10k miles, 36 mos, $25,918. (didn't get residual quote yet). This car is on the lot.
I should expect a greater difference in the prepayment amount for the 1st dealer based on $4k difference in msrp correct? How does the money factor math work for a prepay? Since this dealer has the car on the lot, wouldn't you expect a better price since they have inventory $ tied up?
Finally, I noticed in another post you said that it is not advisable to put $ down on a leased car due to risk of car being totalled or stolen...does that apply to a prepay? If I prepay and my car is stolen or totalled, doesn't the leasing company have to either refund my $ or give me a replacement car?
Thank you in advance!!
The car I'm leasing is the Q5 2.0T Premium Plus, Nav, Smart Key, Tow Hitch, floor mats and exhaust tips. MSRP is $45980. I also want to include the $800 for Audi Care. Discount from the dealer is $1100. Tax in my state is 3.125%. Based on the numbers MF and residual you provided, I come up with a lease payment about $50 a month lower than than dealer. Dealer also shows a $695 aquisition fee that the say comes from Audi in addition to their $199 doc fees. Please advise. Many thanks.
AFS does indeed charge a $695 acquisition fee on every vehicle that it leases.
Car_man
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42 mth lease. 10k/yr. 2000 down. 550/mth tax included for a 2012 Q5 2.0T Quattro with Premium Pkg(not premium plus). I would be turning in my current lease - I'm upside down about 2500.00. Should I shoot for a 36 mth lease instead?
2) What are some key points that I should be focusing on in the negotiation? If I'm Tier 1 credit, what's the money factor? Can that be negotiated? Is the residual value negotiable? Finally, on a lease, should I get the price set before talking monthly payments and down payment? I'm in SoCal
Thanks. Sorry, these seem like pretty rookie questions. Any input would be greatly appreciated.
Here are the numbers presented to me by the dealer for 2012 Q5 2.0 with Premium package plus heated seats, panorama moonroof:
3K down
10K/yr mileage
48mths
599.00/mth tax included
Car invoice is 39980
I have a trade-in: I am upside down about 1900.00
The dealer is going to get me the money factor and residual value.
Questions I have:
1) What is AFS november MF and residual on this car with those terms above?
2) Is this deal solid or am I getting hosed? If there is a place or point to negotiate, would it be the mthly rate? Money down? Final sale price? Length of the lease? Or all of it?
I will also post this to the Forum in case it is easier to respond there.
Thanks Car Man.
I'm in Dallas and have a 2012 Q5 2.0 Prestige with nav for sticker price of $46,450 plus $875 destination chg on order (gave $1K deposit). I currently drive a 2009 328i sport that's leased and have determined it's better to turn back at least end in december rather than trade it (i'm upside down). The car will be here in the next couple of weeks but I'll be on vacation, so the sales guy asked if I could come in this week to take care of the financial stuff and then pick up the car when I get back the second week in december.
Can you give me any information on what I could be looking at payment-wise? Will be doing a 36 mo lease with 10K miles/yr. and looking to give as little down as possible. Should I be worried that there will be better incentives when I take delivery of the vehicle that I could miss out on?
Any information is greatly appreciated. Thanks in advance!
Dealer quoted me 57% residual and .00159 MF last month for a Q5 PP. I called in to see if the latest advertised deal makes it more enticing. Salesman quoted me 55% residual and .00283 MF. He told me they buy the leasing for the former rate and sell it to me for the latter. Really?
Am I getting a raw deal here? Is this the dealer trying to goose the rate. Salesman told me the financing was the least of my worries because the vehicle is difficult to acquire regardless. Seems like he is already setting the stage for a difficult sale. What do folks think of this?
When calculating this out, do I still calculate the monthly base rental + monthly finance charge and monthly tax OR do I drop the monthly finance charge since there isn't any money financed since it is prepaid upfront and add in the tax all upfront?
WTF is up with vehicle sales people? I understand folks need to make a buck - that's fine and dandy and I fully support the concept - but are they so desperate to make a buck that instead of compromising a little profit to make a sale, they try to extract as much $$ as possible and risk losing the deal. As mdxlessee points out, the spread Audi is trying to make is atrocious. They just tack on another 78% (yes, seventy freaking 8 percent) to the finance rate and say to themselves, "Yeah, that seems about fair." Are they out of their f'ing minds? Do I seem mathematically challenged? Does asking for the MF and Residual make me sound stupid?
It's not just Audi. I tried to buy a Hyundai a couple months back and contacted them via Costco for their *special* price. After 3 conversations via email where he denied that they have a Costco price sheet I showed him Costco's documentation on their website. Then he claimed he didn't know I was a "Costco customer." Really? Did you forget? Buddy, if you scroll down and read the email YOU started the conversation with "Welcome Costco Customer." All I asked for is the price Costco said you are required to give me. Anyways... arggg!
Why is it so hard to spend 20, 30, 40 thousand dollars these day. Isn't there something about a bad economy I'm hearing about...something about people not spending. Will somebody PLEASE just take this money off my hands in a fair and equitable transaction.
WTF?
I'm new to leasing cars and am looking to lease our first car in December 2011.
We live in the NYC metro area (plenty of dealers to choose from!) and have zeroed in on a 2012 Model Year Audi Q5 2.0T Premium Plus, which will likely have an MSRP of approx. $42,000 based on the options we'd like.
Two questions -
1. We are looking for a 36 month 10,000 or 12,000 mile lease. What would be a good discount, money factor, and residual value to be quoted for a December 2011 purchase (of dealer inventory, not ordered car)? FICO in high 700s. What are the additional taxes and dues beyond what the dealer will quote? I take it that we will have to pay NY sales taxes on monthly lease payments? I'm tring to get a full picture of one time / month cash outflows.
2. My employer qualifies for the Audi Supplier Discount Program of 6% on MSRP (ex. destination charge). Does anyone know if I'd be able to negotiate additional discounts with the dealer (from the dealer's margin)? I assume that the 6% Supplier Discount is reimbursed by the manufacturer to the dealer so I should be able to negotiate further discounts. Is that right?
Regards,
I chalk this up to customers being better educated. The practice probably hasn't changed much since cars have been sold. Selling cars from what what I see in wanted ads doesn't require a college degree or experience of any kind and thus these are the results.
Find the car you want and search dealers in a specific radius, say 50 miles or so (I've gone out further), you'll find a good dealer with good people that will respect your time and theirs.
Q5 2.0 with premium plus and nav, 36 month lease, 10k miles, MSRP of 44,590, negotiated price of 43,276 (invoice was $42,276.66). + Audi care, nothing down, but the acquisition fee is put on the loan, MF of .00157, residual 56%, the monthly payment is $717, which includes tax (which is 8.75 in my state). Is that a good deal? Thanks!
Car_man
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Car_man
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I'm trying to lease a Q5 2.0 Premium Plus for a 36 months, 10k miles/yr. In November a dealer said the lowest Money Factor was 0.0019 and residual was 55%. In December he quoted me 0.00282. When I asked about the 0.0019, he said it is still available for applicants with the best credit. In a post on Dec 4, you mentioned that the MF was 0.00157 for the same model but for 12k miles/year. Does the MF increase with lower mileage/year or is the dealer not offering the true lowest MF? Is this value published anywhere, and is it expected to change in January?
Thanks in advance.
http://www.legendleasing.com
I looked at them on-line based on a friend's recommendation and the deals seem incredible.
For ex, they advertise an Audi A4 Quattro 2.0 Premium+ Nav for $409/mon for 36 months 0 down.
Any opinions?
thx
Audi is scheduled to introduce a new lease program later this week. Please feel free to check back with me for an update.
Car_man
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Thanks for the confirmation on the money rate. Hope you had a good New Years.
A manager at a dealership first quoted me in Nov 2011 a Q5 at "invoice + advertising (about $800)", so I ordered the car. I had the understanding that that was the price regardless if it's a sale or lease. Now he says that was not the selling price, but only the leasing price with the money rate bumped up from 0.00157 to 0.00282 so he can make more money. I was never aware of this, so I felt misled. Is this a common practice?
He also said he needed the money more than I did, but 5 minutes later added proudly that they were making a lot of money off these cars. The car will be arriving very shortly, but I don't feel comfortable signing the lease, due to changing terms. When asked then how much he would sell the car for, he said $500 below sticker, but who knows that may change any time too.
Do you think the latest terms are reasonable? I somehow lost faith. I'm currently considering a (gasp!) Toyota Venza or Ford Edge.
Thanks for any comments you are kind enough to offer.
This is my first time leasing a vehicle but I am not sure if I am getting a great deal. I live in Chicago. So, the taxes are pretty crazy. I am in the process of leasing a Audi Q5 2.0 premium plus package with an navigation system. There were a lot of throw on in this vehicle all-weather floor mats, bang & olufsen sound system, and 19" wheels with seasonal tires. So, the MSRP came to $45,955. I was not able to get the MSRP down because of the high demand. There is a two month waiting period. The one that is available and shipping in this week have all these features. I have a great credit score. So, I qualified for Tier A rate. Initially, they gave me interest rate of 0.00246 (5.9 %) and I was able to get it down to 0.00225 (5.4%). Then, they were talking about a balloon auto financing with 42 month term and 49% residual. He was willing to contract me at 12,000 miles but I can drive up 15,000 miles. Furthermore, If I am able to put down $2,500 for downpayment, I can get a monthly payment to $776. The interest rate of 5.4 percent still seem to be high. I don't want to feel that I'm getting ripped off. Any advices will be greatly appreciated. Thank you soo much for all your help.
Did you end up making a purchase? I also get the Supplier Discount through my employer and was wondering if you were able to negotiate any lower than 6% off MSRP? I'm guessing the dealer just gets reimbursed up invoice.
Would love to know how it went for you and if you learned anything else in the process.
Thx!
-BD
The Q5 is pretty expensive anyhow. While it's a nice vehicle, there's a lot better deals out there in the SUV world.
Car_man
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If I was offered this deal, I personally would shop around with a different dealer or more likely go with a different vehicle.
Car_man
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Thanks.
You mentioned earlier that Audi was set to release a new lease program this week. Any details?
I'm specifically looking for the MF and residual on a 2012 Q5 Premium Plus lease.
Also - I qualify for the Audi Supplier Discount of 6% off of MSRP. Do you know if that's just 6% off of the base, or if that would include any features (nav, etc) in the MSRP price as well? Does Audi reimburse the dealer for the difference? Just curious if it's worth doing or if it's better to negotiate my own deal. Details are a little difficult to come by.
Thanks!
On a three year lease the money factory quoted to me was .00205 and residual of .53.
Assuming I should qualify for Audi's top credit tier the money factor seems way out of bounds with market (car loans are available at 2.5-3%).
What is the actual money factor currently for an 2012 Audi Q5 for a well qualified buyer via Audi Financial Services?
What I find interesting is the last two leases have traded with very positive cash going toward the down payment on a new car. We just purchased a new 2012 Q5 that we ordered three months ago and paid $500 over invoice which included Audicare, taking advantage of the 1.9% financing from AFS. The 2010 Q5 had over $6k "equity" that I used toward the purchase of the new Q5. This effectively lowered our 29 month lease payment (we traded 7 months early!) to about $500/mo. The point being, the trade/resale value on a nice, clean, 12k miles/yr. Q5 is very high right now. A similar situation occurred when we traded a leased allroad back in 2006. No guarantees of course and to some this will seem like to much of a gamble, but has worked for us so far. Something to consider though I'd recommend buying an Audi over leasing in general.
The 2011 ML was a better deal, but certainly not the redesigned 2012 model. It's really expensive right now.
There's a ton of really nicely appointed SUVs out there that just don't have the "luxury" nameplates as well.
Car_man
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I suspect that the pricing for the Audi Supplier Purchase Program is 6% of of the vehicle's MSRP, including the destination charge and any factory-installed options, but I haven't looked into the program specifically.
Car_man
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Car_man
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