Would appreciate some feedback on the following offer I just received:
2015 S5 Premium Plus Coupe
Seems a bit high to me...
The sales tax in Texas on leases is what kills you here. However, the dealer may also be marking up the MF as well.
The $2300 of negative equity is also adding money to the payment - about $64/mo.
If you are rolling in the negative equity, the taxes and the fees, I can see the payment being that high.
Thanks, yeah not much I can do about the taxes except pay them up front. I'm questioning the negative equity they quoted and I'm digging into the MF. Appreciate the help.
Would appreciate some feedback on the following offer I just received:
2015 S5 Premium Plus Coupe
Seems a bit high to me...
The sales tax in Texas on leases is what kills you here. However, the dealer may also be marking up the MF as well.
The $2300 of negative equity is also adding money to the payment - about $64/mo.
If you are rolling in the negative equity, the taxes and the fees, I can see the payment being that high.
Thanks, yeah not much I can do about the taxes except pay them up front. I'm questioning the negative equity they quoted and I'm digging into the MF. Appreciate the help.
Head over to the "Real World Trade in Values" discussion to get a value on your trade in - the negative equity may not be as bad as you think.
Are you sure the money factor for the 2015 S5 premium plus coupe is 0.00130? I was at a dealer and when he showed me his screen it said 1.47 next to money factor. If I'm to assume the 1.47 was in % this translates to a MF of 0.0006125. His monthly payment was coming up lower than what I had calculated beforehand using 0.0013.
Are you sure the money factor for the 2015 S5 premium plus coupe is 0.00130? I was at a dealer and when he showed me his screen it said 1.47 next to money factor. If I'm to assume the 1.47 was in % this translates to a MF of 0.0006125. His monthly payment was coming up lower than what I had calculated beforehand using 0.0013.
I confirm the .00130 MF on the 2015 S5 Prem Plus Coupe.
Could the dealer be using a difference finance company than Audi?
Are you sure the money factor for the 2015 S5 premium plus coupe is 0.00130? I was at a dealer and when he showed me his screen it said 1.47 next to money factor. If I'm to assume the 1.47 was in % this translates to a MF of 0.0006125. His monthly payment was coming up lower than what I had calculated beforehand using 0.0013.
Yes.. the base MF is .00130.
The dealer won't use an APR, so you can let that idea go... unless they are putting your lease through an independent bank, which seems extremely unlikely.
A more likely explanation is that they are marking up the rate for some extra profit.
No, the payment that the dealer's computer was showing using "1.47" was coming up lower than what you would get using a MF of 0.00130 so there was no marking up of the rate. If I assume the 1.47% and convert it to a MF the calculations I get don't make sense because the payments would come out much lower than using 0.00130. I'll have to look closer at his spreadsheet if I go back there. Do you know if the loyalty cash of $1500 just works to reduce the capitalized cost?
Also, do you know if an Audi dealer has some sort of help from Audi to reduce/eliminate the lease repair and excess mileage costs if I'm turning in one Audi to lease another? The dealer I spoke to was basically saying anything he did to reduce my lease-end charges would directly be taken out of his pocket.
No, the payment that the dealer's computer was showing using "1.47" was coming up lower than what you would get using a MF of 0.00130 so there was no marking up of the rate. If I assume the 1.47% and convert it to a MF the calculations I get don't make sense because the payments would come out much lower than using 0.00130. I'll have to look closer at his spreadsheet if I go back there. Do you know if the loyalty cash of $1500 just works to reduce the capitalized cost?
Also, do you know if an Audi dealer has some sort of help from Audi to reduce/eliminate the lease repair and excess mileage costs if I'm turning in one Audi to lease another? The dealer I spoke to was basically saying anything he did to reduce my lease-end charges would directly be taken out of his pocket.
Any incentive money can be used to either lower the cap cost or cover your up front costs.
So far as I know, you are responsible for the lease end costs. If the dealer is offering to cover part or all of those costs, then I would agree it comes out of any profit on the new deal.
I did confirm with a different dealer that the MF for a 2015 S5 coupe is 0.00130 after I asked why he was showing it as 0.00180 and he admitted he bumped it up half a point.
I did confirm with a different dealer that the MF for a 2015 S5 coupe is 0.00130 after I asked why he was showing it as 0.00180 and he admitted he bumped it up half a point.
Which he is allowed to do ... unless you call them out on it, which you did.
Which is why I usually avoid going into the dealership and usually handle negotiations via e-mail. It was funny because I wasn't there to negotiate so I just listened as he said "I'm giving you below invoice" and then proceeded to show me the invoice. When I mentioned he bumped up the MF he said "oh if I have to I can bump it down although Audi will hate me for it." His profit from the bump on the money factory equated to around $2000. I can see why most people get screwed on leases.
Which is why I usually avoid going into the dealership and usually handle negotiations via e-mail. It was funny because I wasn't there to negotiate so I just listened as he said "I'm giving you below invoice" and then proceeded to show me the invoice. When I mentioned he bumped up the MF he said "oh if I have to I can bump it down although Audi will hate me for it." His profit from the bump on the money factory equated to around $2000. I can see why most people get screwed on leases.
Let's not even talk about how the invoice price has nothing to do with the actual dealer cost...
No, the payment that the dealer's computer was showing using "1.47" was coming up lower than what you would get using a MF of 0.00130 so there was no marking up of the rate. If I assume the 1.47% and convert it to a MF the calculations I get don't make sense because the payments would come out much lower than using 0.00130. I'll have to look closer at his spreadsheet if I go back there. Do you know if the loyalty cash of $1500 just works to reduce the capitalized cost?
Also, do you know if an Audi dealer has some sort of help from Audi to reduce/eliminate the lease repair and excess mileage costs if I'm turning in one Audi to lease another? The dealer I spoke to was basically saying anything he did to reduce my lease-end charges would directly be taken out of his pocket.
Interestingly, I have found references to money factors in the format I listed above (e.g. 1.47) scattered throughout the forums. In those instances it seems that would translate to 0.00147 which would indeed mean the dealer bumped up the money factor. The odd thing is the monthly payment when the dealer used "1.47" was quite a bit better than what I calculate using 0.0013 for the MF and the same cap cost, etc. It makes me wonder if the $1500 loyalty cash works to more than just reduce the capitalized cost.
Thanks. How much do the residuals improve if you go 7.5K or 8K miles per year? Do residuals change as '16 models arrive?
Add 4% to go from 15K to 7.5K. It's possible that the residuals will change once the 2016's arrive - but usually they go down. As does the MF to compensate.
Any way you look at it, the RS5 is going to be expensive to lease.
Comments
Add 7% to the previously quoted numbers to go from 36mo to 24mo.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Much Appreciated.
Coupe? .00130 MF. 62% residual for Premium Plus, 59% residual for Prestige
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- S5 Prestige 2015
- High Gloss Black Package
- Nappa Leather
- $64,000
- 36mo Lease @ 59% Residual
- 0.00098 MF
- $838 per month
- $4448 due at signing
It was for a new build with a 90 day delivery window.Hard to say without a selling price or the mileage allowance. But, that is the base money factor for the S4, not the S5...
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- 2015 S5 Premium Plus Auto
- Based off $58854
- $697.50/month
- $3650 Out of Pocket (first month + fees)
- 7500 miles/yr
- 36 Months
- Mythos Black Metallic
- Black/Magma Interior
- Technology Package
- Black Optic Package
- Bang & Olufsen Sound System
- Carbon Atlas Inlays
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
With your MSRP and selling price, I get a zero-down pre-tax payment of $690.09.
Is any of the $3650 out of pocket going to cap cost reduction?
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
2015: .00133 MF and 57% residual for 36 months. Premium Plus model
2014: .00046 Mf and 51% residual for 36 months... Premium Plus
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
Would appreciate some feedback on the following offer I just received:
2015 S5 Premium Plus Coupe
MSRP: $63,540
Rebate: $1,500 (loyalty)
Sale Price w/ Adds: $60,769
Trade Value: $31,000
Trade Payoff: 33,311
Tax: $3,798
Acq Fee: $695
Lic, Reg, Fees: $262
36 month, 10k mi/yr, $1,500 down
Monthly Payment: $984.29
Seems a bit high to me...
The $2300 of negative equity is also adding money to the payment - about $64/mo.
If you are rolling in the negative equity, the taxes and the fees, I can see the payment being that high.
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Could the dealer be using a difference finance company than Audi?
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Yes.. the base MF is .00130.
The dealer won't use an APR, so you can let that idea go... unless they are putting your lease through an independent bank, which seems extremely unlikely.
A more likely explanation is that they are marking up the rate for some extra profit.
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Also, do you know if an Audi dealer has some sort of help from Audi to reduce/eliminate the lease repair and excess mileage costs if I'm turning in one Audi to lease another? The dealer I spoke to was basically saying anything he did to reduce my lease-end charges would directly be taken out of his pocket.
So far as I know, you are responsible for the lease end costs. If the dealer is offering to cover part or all of those costs, then I would agree it comes out of any profit on the new deal.
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Thanks.
36/15 - .00136 and 52%
42/15 - .00156 and 48%
Add 2% for 12K
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The higher the trim line, the lower the residual (at least for Audi's). But, it's the only A5 available with a V8 - gotta pay to play.
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Add 4% to go from 15K to 7.5K. It's possible that the residuals will change once the 2016's arrive - but usually they go down. As does the MF to compensate.
Any way you look at it, the RS5 is going to be expensive to lease.
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