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2015 Audi Q5 3.0 lease payment - Good Deal?

dot001dot001 Member Posts: 2
edited November 2014 in Audi
I just leased a new Audi 3.0 Quattro. MSRP was 53,850 which was discounted to $50656. I put $3000K down including first payment. The payment is $699 for a 10K / 48 month lease. It has an annual percentage rate of 5.79%.

I asked the dealer for the MF and residual but they said neither apply because it was a 'premium purchase'. (I know they have this and clearly did not want to share it with me).

Can anyone weigh in on whether this was a great, good, bad deal?


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Comments

  • jwb3rxjwb3rx Member Posts: 58
    I don't think that is good at all. I'm not sure what the MF is for a 48 mo lease but for a 36 mo it's about 0.00129 so if you converted that to APR would get you 3.1%, no where near the 5.79% you paid. Maybe a credit issue or the 48 month leases are just that bad? Looks like you got 6% off the MSRP which is ok but not great. Why did you go with a 48 mo? You could of had a 36mo for a lower payment without the $3k out of pocket. If a dealer won't share with you what you're signing for then you may need a new dealer and you really should know exactly what you're signing.
  • kyfdxkyfdx Moderator Posts: 236,942
    dot001 said:

    I just leased a new Audi 3.0 Quattro. MSRP was 53,850 which was discounted to $50656. I put $3000K down including first payment. The payment is $699 for a 10K / 48 month lease. It has an annual percentage rate of 5.79%.

    I asked the dealer for the MF and residual but they said neither apply because it was a 'premium purchase'. (I know they have this and clearly did not want to share it with me).

    Can anyone weigh in on whether this was a great, good, bad deal?



    That isn't a lease... It's a balloon note.

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  • dot001dot001 Member Posts: 2
    Good point. It is actually what audi calls a 'premium purchase'. But it sounds like I got taken on the rate (and the term). Live and learn I guess. Thanks!
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