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

patel6patel6 Posts: 2
edited August 2015 in Audi
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.
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  • MichaellMichaell ColoradoPosts: 141,095
    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.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • patel6patel6 Posts: 2
    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!
  • steverstever Posts: 52,462
    This may be of interest:

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  • MichaellMichaell ColoradoPosts: 141,095
    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.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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