First time car buyer - Need advice if its good deal!

patel6

After a long month negotiation, I have been offered following deal. Need expert's advice on if I should take it or ?:
2016 Audi Q5 3.0 TFSI Premium Plus with Tech package
MSRP: $51410
Selling Price: $47300
Monthly lease payments: $609
Down payment: $5000
Mileage: 10000/year
36 months lease

I don't know much about money factory and residual. Also keeping into mind, my credit score is not that great (around 700) since I recently moved to US.

Michaell

patel6 said:

After a long month negotiation, I have been offered following deal. Need expert's advice on if I should take it or ?:
2016 Audi Q5 3.0 TFSI Premium Plus with Tech package
MSRP: $51410
Selling Price: $47300
Monthly lease payments: $609
Down payment: $5000
Mileage: 10000/year
36 months lease

I don't know much about money factory and residual. Also keeping into mind, my credit score is not that great (around 700) since I recently moved to US.

The 36/10 lease numbers are .00178 and 60%. using your MSRP and Selling Price I get a payment of $596.16/mo before tax. This is with $0 down.

What state is this and what is the tax rate?

Do you know the breakdown of the $5000 due at signing?

Looks like your dealer may be marking up the MF on you.

patel6

Thank you for the quick response Michaell.
I am in Washington state and tax rate is 9.5%
Not sure how $5000 is breakdown.
So, which part should I negotiate? If its required.
Thank you again!

stever

This may be of interest:

A leasing expert is looking for a new car shopper in the Seattle area who needs help navigating the leasing process. The expert will help you go through the leasing process from start to finish for free in exchange for taking a few pictures and/or video of the experience with leasing a new car using an iPhone app. If interested, please send an email to stever@edmunds.com.

Michaell

patel6 said:

Thank you for the quick response Michaell.
I am in Washington state and tax rate is 9.5%
Not sure how $5000 is breakdown.
So, which part should I negotiate? If its required.
Thank you again!

There are only two parts to a lease that are variable - the selling price and the money factor. You want the base MF that I quoted above, and you should negotiate the best selling price you can. For a 2016, there might not be a lot of room.