Hi Car man, can you help? Please forgive the many questions, but it's not as if I can ask a dealer any of this?
I am totally confused by the wildly different lease deals on this forum, can you help clarify why everybody's experience seems to be so different? I want to lease a 2011 Audi A4 Quattro with Premium Plus and Nav and bluetooth connect. Edmunds pricing has that at True market Value for $36,466 for Dutchess County NY. MSRP is $38,625, Invoice is $35,985. So here are some questions:
1. Is there a choice of 36 or 39 months and who sets this time? 2. What is the typical or required down payment? Can it be zero as some here have posted? What does zero really mean, does it mean 0, no tax due, no destination fee, nothing? If true zero is not possible, what's the lowest down possible in NY. 3. What is true market value and who says what that is? Can the dealer, if he is not hungry, charge whatever he wants? If I show him that Edmunds says invoice of $35,985, can't he just say, "no, not in NY"? What I'm really asking here is, what do you say to an unmotivated dealer? Buy in CT instead? Is it better to lie and say you want a price for purchase? Does the dealer jack up the price when he knows you want to lease? If yes, isn't that manipulation, shouldn't that really piss off a buyer? 4. Is milage up to me and how does it affect cost of the lease? If I say 10,000 miles will that be less of a monthly than 12 or 15? Will they even consider someone at 10,000 miles? 5. I have a high credit score and no debt, can that get me a better lease price? if so, how does that work, how do I make that benefit transparent? 6. I see no lease incentive program on the Audi site, why so little info? I ask this because it seems every dealer has a different lease price for exactly the same car. I mean, within NY, shouldn't all lease deals in an area that has the same tax rate be exactly the same? If they are not the same, why is this, is it dealer motivation or dealer sleight of hand? 7. Who offers the lease, Audi, or the individual dealer, or both together? How does the dealer make money on a lease? Why does it seem he is desperate to make money off the lease by manipulating numbers? Is this just my imagination? 8. In my mind, because this seems so complicated, and variable, I try to look at only 3 factors, in order to clarify. 1. What is the final best price of the car with the options I want 2. What is the minimum down 3. What is the monthly payment (with 10k or 12k miles) So my question here is, why make it more complicated than that? The dealer gives you his best price with options, then he says what he wants for minimum down, then that sets the monthly payment. What am I missing here if anything? If the dealer is setting these terms by residual and money factor, so what? Should I assume he is always fudging numbers to get more? Should I assume he is not following true residual and true MF? Are dealers that shady, that manipulative? I've had dealers say to me, "well, what monthly do you want" and of course that's just a complete insult to my intelligence because everyone knows if you give them more up front you get a (seemingly) lower monthly, but the dealer said this to make the monthly "look good" as if I was saving money, not to give me a better deal. I walked from that dealer over that comment but he didn't care, "cars were flying out the door" back then.
Finally, I want to avoid all the showroom BS, can I get a lease quote that's true and firm online or is it never the same through email compared to going into a showroom?
PS: I like cars, I hate the buying process. I believe someday you will be able to walk into a showroom and get a professional tour of the car by the car maker (not a dealer), but make the deal for it at another time and place with a (transparent) professional rep from the car maker (not a dealer). I know that's what many people want, but dream on, right? Thanks!
Just picked up tonight a 2011 Audi A4 FrontTrak...Black on Black with Premium Plus, Navigation, Sport Package & Bang and Olufsen Sound System.
We negotiated over the phone throughout the day and got the cost of the car from the sticker of $41,475 to $36,725 + tax, registration and their usual fees. Did a lease so the payment is $560/month with $0 out of pocket, literally drove away without ever taking out my wallet. The residual is $20,562 and I actually plan on buying it out at the end.
Looking at the contract though...itt says "Amount Due at Lease Signing or Delivery" is $2506.37...but we weren't asked to pay anything. Did the dealer discount this like a sort of "cash rebate"? The first payment is due 04/27/11. I'm not sure how they spun it but the Adjusted Capitalized Cost is also significantly higher than the $36,725 they showed us on the quote...it's $40,658. With the "cash rebate" of $2506.37, if that's what it was, it would make the car price $38,151, and not $36,725 that was on the quote.
I feel like they screwed us somewhere which kind of puts a damper on the mood but I'm still super excited about having the car, it's the exact setup I wanted and I love it.
Hello, I guess you can say I put money down if you count the $750 loyalty credit + tax, licensing and first month payment.
My payment with tax (9.5%) is $514.
I think timing is really the issue when it comes to buying an Audi, or any car for that matter. I went in the beginning of the month and the sales guy wanted me to put 10k down in order to get to my current number, which was absurd. Then I came back later in the month and they were able to cut me a sweet deal. At that point the dealer could be needing to get rid of cars to make the company quota.
I also think the $750 helped. That's cash Audi pays the dealer. If you have the loyalty, that's a card I'd wait to throw out at the very end of the negotiation. See how far you can get and when all else fails, drop the loyalty rebate.
with 39 mo, 10k miles, and $3595 down, I get a payment of 417 inclusive of tax. I have a negative equity of 900, so that brings the payments to about 440 inclusive of tax.
This is WITH audi care. This is my first audi purchase, so any help with this would be greatly appreciated. Thanks!
That comes about to about $509 per month, before rolling in the negative equity. It is hard to comment on your deal without knowing what your credit rating is. Credit rating will impact the money factor. If you have sterling credit, the dealer could still jack up your payments by marking up the interest.
How many months?Miles per year? Sorry to say, but from your description, it looks like the dealer ended up charging you sticker price. "Adjusted cap cost" is the selling price of the car. Did you have a trade? If you rolled negative equity into the deal, it would explain why the cap cost was higher.
They haven't checked my credit yet but it's around 700. How did you figure the 509 a month? They quoted me a price of 440 a month with everything included.
There was no trade in of any sort. They did try to screw us and here is what happened...
After not being able to sleep all night because I kept going through everything in my head, I went back to the dealership yesterday and asked them to explain why the Capitalized Cost did not match the Quote. The finance guy kept trying to say that I don't understand and that the sales tax is included of the vehicle price and that it's the amount of the monthly payment I agreed on. That would be all fine and dandy except I asked him to do the math...divide the vehicle price by 39 months and that should be my payment according to him...but it wasn't, it was that amount PLUS sales tax added again at the end of the contract. They basically added in the sales tax to the cost of the car, making it appear like it's something I had to pay (it was "sales tax" afterall) when in fact they were keeping it as profit and charging me sales tax at the end again. He kept trying to explain, saying I didn't understand, and finally said he will get a manager to explain it me better.
Another guy comes in, puts the contract and quote side by side..and asks the finance guy why they don't match. The finance guy didn't have much to say at which point the manager says to him "Make the prices match...and sir, your payment will be lower."
It dropped the payment from $560 to $506 per month. The new "Adjusted cap cost" is now $38,175. Then...the gave us $1707 in "cash rebate", dropping the price to $36,468. Again, nothing down..all fees, registation and first month payment included in the "cash rebate". The finance guy actually said they are losing $1100 on selling this car now.
Now here is the kicker...and this will be interesting. Shortly after, the finance guy comes back with credit report in hand, saying there is a discrepancy on there and that Audi Financial needs to review it. Now it's true, there is something on there that was settled years ago, but still showing up for some reason. But isn't it convenient that now this comes up? I mean it may still have...but can't help but wonder if they want their car back now and are digging trying to find something. He said they will call yesterday or today, haven't got the call yet.
To answer your question, its a 39 month lease with 10k miles per year. Sticker for the car was $41,475.
Sounds similar to my story. Shady Financial guys. What they were doing is considered fraud. Its great that you caught on and waited before signing the papers. After being tricked in every way possible with my first and last lease with an AUDI dealer, I am aware and educated on the tricks. Better late than never I guess and I just may be the one smiling at the end, "bank error in your favor, collect $$$". I actually spent HOURS 1 night with the contract in hand and created a spreadsheet just so I could see how they figured their math on the contract and what money factor rate and residual value percentage that I got. I'll be glad to dissect your numbers for you. If you would like me to then I need to know a few things: Do you know the money factor rate that you received? Or the residual value %? Or do you just have a section on your contract that says "residual value" and the price that they state the car would be worth? And then do you have the actual money factor % or do you just have something that reads "Rent Charge"? I will need: 1-) the Agreed upon price of the car 2-) Net Capitalized Cost 3-) Residual Value 4-) Depreciation fee 5-) Rent Charge 6-) Total monthly Payment
I can get it back to you quickly. If they do however call you up and ask you to bring the car back that the financing fell through then that is a scam called "Yo-Yo Car Financing, Spot Delivery Scam" Which is considered fraud.
Thank you for offering to help. Here is the information I have...
1. Agreed On Price of the Car: $37,475 (including $750 loyalty discount) 2. Net Capitalized Cost: $38,175 (Agreed on price + $700 acquisition fee) 3. Residual Value: $20,561.50 4. Is this the same as "Rent Charge"? If so, it is $673.71. 5. See above 6. Base payment: $468.88 + tax of $42.67 = $511.55 total payment.
We also paid nothing down. The contract says "Amont due at least signing: $2457.33". They put the $750 loyalty toward that plus $1707.33 in "cash rebate" which covered first month payment, licence fees ($772.90 for all licence/tag/title fees) and doc fee.
So the way I figure we got the car was for:
$37,475.00 agreed on price + $700 acquisition fee + $673.71 Rent Charge - $1707.33 in "cash back" ____________ $37,141.38 actual cost
Hi Car man, stories like this is what I'm talking about, it's disgraceful that people willing to spend $38,000 for a product have to put up with this. Or should I say "rent" something worth $38,000 for $21,840 for 3 and half years.
Thanks for your continued help on these lease forums.
I just priced out an A4 Premium Quattro with 6-speed manual, 36 months, 12k/year. Car has Audi Music Interface, Heated Seats, mats, and chrome exhaust tips as options.
MSRP: 36,300
Offer: 443/mo (incl 6% tax) 0 down, but 1400 due at signing (443 for 1st month, 695 acq fee, 213 in registration/documents, 53 in city tax).
Is this a decent deal? (I have deals in place for both, Infiniti G37x and acura tl SH-AWD, however with automatic transmissions, for 370/mo, same terms, 0 down).
Hi liszt. Audi Financial Services' buy rate lease money factor and residual value for a 39 month lease of a 2011 A4 Sedan Premium CVT with 10,000 miles per year are .00029 and 55%, respectively.
It would be easier for us to evaluate this deal if you provided us with this car's MSRP and selling price.
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Hi nickr1. You are free to lease for however long you want. If I was going to lease an A4 this month, I would do so for 39 months. That is probably the best term right now.
Consumers can lease any vehicle they want without making any sort of capitalized cost reduction. There are other fees that one has to pay at signing, such as the acquisition fee, tax, title, etc... One can usually either pay these fees at signing or roll them into their vehicle's capitalized cost to bake them into their payment.
The selling prices of leased vehicles are negotiable, just as if you were financing or paying cash for them. You are fortunate to be in an area, New York, that likely has a number of Audi dealers. Shop around and try to get the lowest possible selling price for the car that you want.
You can lease with any mileage allowance you want, 10,000, 12,000, or 15,000. The fewer miles you go with, the lower your monthly payment will be.
The fact that your credit is in good shape will enable you to take advantage of the best available money factors.
Dealers make money on leases because they are essentially selling the vehicle to the bank that you are leasing through. Dealers can also sometimes mark up vehicles' money factors to add additional back-end profit to deals.
In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.
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Sorry, I didn't get an email alert that you responded. Nevertheless, I ran the numbers that you provided and if they are exactly as printed on the contract then, "selling price" did not match up to any of the calculations. I tried several different residual %, and I could not get the same selling price of $37,475 actually nothing is adding up correctly. I personally would wonder why, and how they came up with a rebate with such an odd amount $1,707.33? Seems like they might have rigged up some numbers to make it appear like you were getting the deal of not having to put money down, but they were able to add the money to the price of the car. Tricky!
If you leased through AUDI Financial then you should see an area on the contract that reads "Depreciation Fee". That amount is how they figure out your monthly payment and it is the total amount (minus other fees) that you basically pay during the 39 months. It is calculated like this:
Depreciation Fee = ( Net Cap Cost – Residual ) ÷ Term
Your depreciation fee would be $17,613.50 and your monthly payment would be $451.62 + 17.27taxes/rental fee = $ 468.90
So, from the numbers that you provided your monthly payment should be $468.90
Do you see anywhere on your contract that reads "Depreciation and any Amortized Amounts. The amount charged for the Vehicle's decline in value through normal use and for other items paid over the Lease Term" should be below the residual value on the contract and above the rent fee? If so, what amount do they have?
About the odd rebate, it's the amount of First Monthly Payment, Taxes on Capitalized Cost Reduction, Title and registration fee, License fee and Doc. fee. All that adds up to $1707.33. They actually listed it as "Amount to be paid in cash" but they said I don't have to pay it, they paid it for me.
As for the "Depreciation and any Amortized Amounts", the amount is $18412.50.
At this point, I don't even know if any of it matters as it looks like they may be asking for their car back. Like I previously said, they ran the credit the night of purchase and the score was not the greatest (643) so I myself was a bit surprised it went through, I thought it had to be in the 720+. When I went in the next day to question them about the numbers on the contract, they said they found some lien on my credit report and need to have a supervisor at Audi Financial override the transaction. There is no lien that I'm aware of so I don't know where they are getting that from and I have pulled the same credit report.
Anyway, fast forward to today, Thursday, and apparently still no answer from Audi Financial. I really don't understand what the hold up is, either its a go or not. They have made my week very stressful and full of anxiety. I've had the car going on 5 days now and I still don't know if it's mine. Now they are saying tomorrow morning (Friday) the guy who has to make the decision at Audi Financial will be in...we'll see.
Ok, I ran the numbers with the depreciation amount that you provided from the contract along with the others you gave before. NOTHING adds up correctly!
To get their same depreciation amount the agreed upon selling price would be $38,974. Thats +$1,499 difference from the selling price they have listed and +$799 from the Adjusted Capitalized Cost that they had listed and would make the residual value about 52% (which didn't work out to be exact) from the $38,974 and your monthly payment should be $489.39 The only way that I got the exact residual value that they had listed was to make the agreed upon selling price $40,316.66 and the res. value % turns out to be 51%. You might have expressed to them that you planned on buying it at the end of the lease? Because your res. value (the buying price of the car at the end of the lease) should have been $18,412 with the agreed upon selling price-computed from the depreciation value.
Basically they worked the numbers deceptively to get more from you per month, and to be able to charge you more for the car if you were to buy it at the end of the lease. Did you actually see the MSRP total on the window of the car to see the $41,475 ?
---- Ok to your credit report.... I would encourage you to go to identityguard.com and pull your credit report for yourself just in case the dealership is also fibbing about the issue on your report..it could be that Audi Financial has raised question to the calculations... Identity guard will give you 14 days free .... will pull your report from all 3 reporting agencies and give you a score from all three. You can take the 3 scores, add them together, and then divide them by 3 to get an average credit score. Also look to see your credit inquires..check to see what companies have pulled your credit file since you completed an application at the dealership... also of course check out the lien issue that they are stating.. if its not true and they request for the car back tomorrow...let me know asap if you need any other tips.
My plan now is to see what happens tomorrow morning before I do anything else. I am honestly expecting them to say that there is nothing they can do and ask for the car back. The odd thing is, today is the end of the money and tomorrow is the first...could it really be a coincidence that they didn't get back to me until tomorrow? Would they benefit in anyway in showing the car "sold" but not financed at the end of the month/quarter?
If they say to bring it back, any idea how much time I have? I am thinking about possibly financing the car instead of leasing. The purchase quote they gave me (that they said was converted into the lease) was...
Vehicle Price: $41,125 (oddly, the same exact setup is $41,475 which is where I got the MSRP price) Preferred Customer Discount: $2,900 Customer Rebate: $1500 (Audi Loyalty) __________________ Selling Price: $36,725.00
Sales tax, Doc and Lieu Fees are $4452.13 on top of that. For a selling price of $36,725, I feel the car is a great value. I have really fallen in love with the car and do not want to turn it back over to them. From what I've read online, its typically easier to get a car financed than to get it leased because they can shop the loan to different banks vs just to Audi Financial on the lease. I will also try to get my own car loan.
They should, or I should say they better, still honor the $36,725 selling price. Why do I have a feeling that they will try and pull something like "Well, that was last month's special, we can no longer offer that."
Does anyone know what Audi Financial's April 2011 money factor and residual is for an A4 Avant premium with 12K for 39 mo? Did the price of this car go up this month from March pricing? Thank you.
Here's the deal would like to know if i am getting the run down at the dealer. the car is a 2011 Audi A4 2.0 T Premium Quattro 8 speed Automatic (add ons - heated seats, wood interior, bluetooth sync, ipod hookup, exhaust tips.) I forget what they say the MSRP is but according to this site it is 37,305(i think that's what dealer has it listed as well). They will take 2,100 off list approx $35,205. 12k miles a year for 39 months just dealer fees, tax title etc down payment of 1,770.50 @ 412 a month (tax included in monthly payment). Is this a good deal? Also here's the kicker you don't get 3,000 additional miles for those 3 extra months you only get 36kmiles for 39 months is it me or is this crazy. Mercedes says that's crazy. Also should i ask them to kick in for all of my maintenance i.e. oil changes as a bargaining tool? Please help first time going through this process.
Hi byunwong. It would be much easier to evaluate this deal is you were able to share this car's selling price with us. This number will show us how much of a dealer discount you are being given and in turn if there is any room left to negotiate.
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Here's the information that you're looking for, fergusona.
Audi Financial Services' April buy rate lease money factor and residual value for a 39 month lease of a 2011 A4 Avant Premium with 12,000 miles per year are .00083 and 54%, respectively.
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Car Man Can you confirm the April lease rates for the following
2011 Prem + quattro 39 month / 15k miles
Just wondering how they faired with last months rates. I ordered a car and locked last months rates until delivery unless rates change for the better and I can lock those.
If the dealer has been playing games and apparently manipulating figures to increase their profit at their expense I would give them a chance to fix their math (could have been honest mistake), if they try to increase your costs due to this credit error I would simply thank them for their time and leave them with their slightly used new car. Sounds like they are planning on you being emotionally attached to the car but you probably would be better off getting the same model at a different dealer. Good luck with the lease/purchase!
I certainly can cjacob6. Audi Financial Services' April buy rate lease money factor and residual value for a 39 month lease of a 2011 A4 Sedan Premium with quattro and 15,000 miles per year are .00072 and 53%, respectively.
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Hi jayd4. Audi Financial Services' April buy rate lease money factor and residual value for a 36 month lease of a 2011 A4 Sedan Premium Plus quattro with 15,000 miles per year are .00072 and 50%, respectively.
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Being as I know nothing about leases, how do I take the money factor and residual value for the vehicle and figure out my best bet for a monthly lease payment?
I just got quoted over the phone $429, 0 money down (cap), 15k miles per year at a local deal in los angeles for an Audi A4 Premium Plus without navigation. I think it's a real good deal and am thinking about going in today.
It is a really good deal at least comparing the dealer in STL, MO. Dealer there gave a quote for $500 (tax included) with 12k per year. 0 down, but need to pay the fee of 695+199+89 for an Audi A4 Quattro Premium Plus with a sticker price of $38775. I insisted no fee, they rejected.
19 Inch Sport Pkg Audi Side Assist Nutmeg Trim Exhaust Trim Destination charge $875
for a MSRP of $46880.00
I am being offered the following:
Price of 44,500 + 800 Audi Care.....
15K miles per year - $794.00 with a residual 46% 39 month lease $1500 Out of Pocket 15K miles per year - $794.00 with a residual 43% 42 month lease $1500 Out of Pocket
12K miles per year - $770.00 with a residual 48% 39 month lease $1500 Out of Pocket 12K miles per year - $772.00 with a residual 45% 42 month lease $1500 Out of Pocket
I am being told that Money Factor for 39 month lease is .172 and for 42 month is .192 (I assume they are leaving off zeros)
I am also being told that for every $1000 I put down, it would lower my monthly payment by $26.00.
How badly am I being taken advantage here and any ideas on what I should tell them the selling price of the car should be, etc... I sure appreciate the help! Be blessed
I never ended up going as we decided we're gonna wait a bit. The dealership that I received that price from was Circle Audi in Long Beach, I spoke to Rick there over the phone
What are money factor and residuals for May of 2011 for an Audi Premium Plus (not quattro) with Navigation and Sports Package on a 36mo/15k lease and a 39mo/15k lease?
Hi applejack777. The money factor that you were quoted is way too high. Audi Financial Services' May buy rate for a 39 month lease of a 2011 A4 Sedan Prestige is only .00073 for consumers who qualify for its top credit tier. If your credit is in good shape, you shouldn't pay much more than that.
As far as the selling price goes, it looks to me as though you're at around $700 or so over invoice...which isn't bad.
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Here's the information that you're looking for, htram516.
Audi Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2011 A4 Sedan Premium Plus without quattro with 15,000 miles per year are .00020 and 47%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical 39 month lease are .00040 and 46%.
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car man, can you post May numbers for a 2011 Premium Plus Quattro for both 36 and 39 month, 15k miles?
I ordered a car in march and locked in march rates for the 39 month program, .00072 and 49% residual. The only way it could change is if programs get better.
Im taking delivery this month, so wondering what rates are so im armed with the correct info when taking delivery.
Comments
I am totally confused by the wildly different lease deals on this forum, can you help clarify why everybody's experience seems to be so different? I want to lease a 2011 Audi A4 Quattro with Premium Plus and Nav and bluetooth connect. Edmunds pricing has that at True market Value for $36,466 for Dutchess County NY. MSRP is $38,625, Invoice is $35,985. So here are some questions:
1. Is there a choice of 36 or 39 months and who sets this time?
2. What is the typical or required down payment? Can it be zero as some here have posted? What does zero really mean, does it mean 0, no tax due, no destination fee, nothing? If true zero is not possible, what's the lowest down possible in NY.
3. What is true market value and who says what that is? Can the dealer, if he is not hungry, charge whatever he wants? If I show him that Edmunds says invoice of $35,985, can't he just say, "no, not in NY"? What I'm really asking here is, what do you say to an unmotivated dealer? Buy in CT instead? Is it better to lie and say you want a price for purchase? Does the dealer jack up the price when he knows you want to lease? If yes, isn't that manipulation, shouldn't that really piss off a buyer?
4. Is milage up to me and how does it affect cost of the lease? If I say 10,000 miles will that be less of a monthly than 12 or 15? Will they even consider someone at 10,000 miles?
5. I have a high credit score and no debt, can that get me a better lease price? if so, how does that work, how do I make that benefit transparent?
6. I see no lease incentive program on the Audi site, why so little info? I ask this because it seems every dealer has a different lease price for exactly the same car. I mean, within NY, shouldn't all lease deals in an area that has the same tax rate be exactly the same? If they are not the same, why is this, is it dealer motivation or dealer sleight of hand?
7. Who offers the lease, Audi, or the individual dealer, or both together? How does the dealer make money on a lease? Why does it seem he is desperate to make money off the lease by manipulating numbers? Is this just my imagination?
8. In my mind, because this seems so complicated, and variable, I try to look at only 3 factors, in order to clarify.
1. What is the final best price of the car with the options I want
2. What is the minimum down
3. What is the monthly payment (with 10k or 12k miles)
So my question here is, why make it more complicated than that? The dealer gives you his best price with options, then he says what he wants for minimum down, then that sets the monthly payment. What am I missing here if anything? If the dealer is setting these terms by residual and money factor, so what? Should I assume he is always fudging numbers to get more? Should I assume he is not following true residual and true MF? Are dealers that shady, that manipulative? I've had dealers say to me, "well, what monthly do you want" and of course that's just a complete insult to my intelligence because everyone knows if you give them more up front you get a (seemingly) lower monthly, but the dealer said this to make the monthly "look good" as if I was saving money, not to give me a better deal. I walked from that dealer over that comment but he didn't care, "cars were flying out the door" back then.
Finally, I want to avoid all the showroom BS, can I get a lease quote that's true and firm online or is it never the same through email compared to going into a showroom?
PS: I like cars, I hate the buying process. I believe someday you will be able to walk into a showroom and get a professional tour of the car by the car maker (not a dealer), but make the deal for it at another time and place with a (transparent) professional rep from the car maker (not a dealer). I know that's what many people want, but dream on, right? Thanks!
Does anyone knows if there's a 12 - 24 months short term lease offered on 2011 Audi A4?
Thanks~
Just got back from the dealer and I was quoted this:
2011 A4 CVT (Automatic)
Heated Front Seats
Audi Music Interface
$1,200 down inclusive of first month's payment
39 month lease but with 2 months free (effectively 37 payments)
12,000 miles per year
$440 Lease/Month all in (inclusive of tax)
What do you guys think?
We negotiated over the phone throughout the day and got the cost of the car from the sticker of $41,475 to $36,725 + tax, registration and their usual fees. Did a lease so the payment is $560/month with $0 out of pocket, literally drove away without ever taking out my wallet. The residual is $20,562 and I actually plan on buying it out at the end.
Looking at the contract though...itt says "Amount Due at Lease Signing or Delivery" is $2506.37...but we weren't asked to pay anything. Did the dealer discount this like a sort of "cash rebate"? The first payment is due 04/27/11. I'm not sure how they spun it but the Adjusted Capitalized Cost is also significantly higher than the $36,725 they showed us on the quote...it's $40,658. With the "cash rebate" of $2506.37, if that's what it was, it would make the car price $38,151, and not $36,725 that was on the quote.
I feel like they screwed us somewhere which kind of puts a damper on the mood but I'm still super excited about having the car, it's the exact setup I wanted and I love it.
My payment with tax (9.5%) is $514.
I think timing is really the issue when it comes to buying an Audi, or any car for that matter. I went in the beginning of the month and the sales guy wanted me to put 10k down in order to get to my current number, which was absurd. Then I came back later in the month and they were able to cut me a sweet deal. At that point the dealer could be needing to get rid of cars to make the company quota.
I also think the $750 helped. That's cash Audi pays the dealer. If you have the loyalty, that's a card I'd wait to throw out at the very end of the negotiation. See how far you can get and when all else fails, drop the loyalty rebate.
Hopefully this helps!
2011 A4 Quat Premium
MSRP 37,755
Price 35, 755 ($2000 off)
with 39 mo, 10k miles, and $3595 down, I get a payment of 417 inclusive of tax.
I have a negative equity of 900, so that brings the payments to about 440 inclusive of tax.
This is WITH audi care. This is my first audi purchase, so any help with this would be greatly appreciated. Thanks!
After not being able to sleep all night because I kept going through everything in my head, I went back to the dealership yesterday and asked them to explain why the Capitalized Cost did not match the Quote. The finance guy kept trying to say that I don't understand and that the sales tax is included of the vehicle price and that it's the amount of the monthly payment I agreed on. That would be all fine and dandy except I asked him to do the math...divide the vehicle price by 39 months and that should be my payment according to him...but it wasn't, it was that amount PLUS sales tax added again at the end of the contract. They basically added in the sales tax to the cost of the car, making it appear like it's something I had to pay (it was "sales tax" afterall) when in fact they were keeping it as profit and charging me sales tax at the end again.
He kept trying to explain, saying I didn't understand, and finally said he will get a manager to explain it me better.
Another guy comes in, puts the contract and quote side by side..and asks the finance guy why they don't match. The finance guy didn't have much to say at which point the manager says to him "Make the prices match...and sir, your payment will be lower."
It dropped the payment from $560 to $506 per month. The new "Adjusted cap cost" is now $38,175. Then...the gave us $1707 in "cash rebate", dropping the price to $36,468. Again, nothing down..all fees, registation and first month payment included in the "cash rebate". The finance guy actually said they are losing $1100 on selling this car now.
Now here is the kicker...and this will be interesting. Shortly after, the finance guy comes back with credit report in hand, saying there is a discrepancy on there and that Audi Financial needs to review it. Now it's true, there is something on there that was settled years ago, but still showing up for some reason. But isn't it convenient that now this comes up? I mean it may still have...but can't help but wonder if they want their car back now and are digging trying to find something. He said they will call yesterday or today, haven't got the call yet.
To answer your question, its a 39 month lease with 10k miles per year. Sticker for the car was $41,475.
I can get it back to you quickly. If they do however call you up and ask you to bring the car back that the financing fell through then that is a scam called "Yo-Yo Car Financing, Spot Delivery Scam" Which is considered fraud.
1. Agreed On Price of the Car: $37,475 (including $750 loyalty discount)
2. Net Capitalized Cost: $38,175 (Agreed on price + $700 acquisition fee)
3. Residual Value: $20,561.50
4. Is this the same as "Rent Charge"? If so, it is $673.71.
5. See above
6. Base payment: $468.88 + tax of $42.67 = $511.55 total payment.
We also paid nothing down. The contract says "Amont due at least signing: $2457.33". They put the $750 loyalty toward that plus $1707.33 in "cash rebate" which covered first month payment, licence fees ($772.90 for all licence/tag/title fees) and doc fee.
So the way I figure we got the car was for:
$37,475.00 agreed on price
+ $700 acquisition fee
+ $673.71 Rent Charge
- $1707.33 in "cash back"
____________
$37,141.38 actual cost
Thanks for your continued help on these lease forums.
I just priced out an A4 Premium Quattro with 6-speed manual, 36 months, 12k/year.
Car has Audi Music Interface, Heated Seats, mats, and chrome exhaust tips as options.
MSRP: 36,300
Offer: 443/mo (incl 6% tax)
0 down, but 1400 due at signing (443 for 1st month, 695 acq fee, 213 in registration/documents, 53 in city tax).
Is this a decent deal? (I have deals in place for both, Infiniti G37x and acura tl SH-AWD, however with automatic transmissions, for 370/mo, same terms, 0 down).
Thanks!
It would be easier for us to evaluate this deal if you provided us with this car's MSRP and selling price.
Car_man
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Consumers can lease any vehicle they want without making any sort of capitalized cost reduction. There are other fees that one has to pay at signing, such as the acquisition fee, tax, title, etc... One can usually either pay these fees at signing or roll them into their vehicle's capitalized cost to bake them into their payment.
The selling prices of leased vehicles are negotiable, just as if you were financing or paying cash for them. You are fortunate to be in an area, New York, that likely has a number of Audi dealers. Shop around and try to get the lowest possible selling price for the car that you want.
You can lease with any mileage allowance you want, 10,000, 12,000, or 15,000. The fewer miles you go with, the lower your monthly payment will be.
The fact that your credit is in good shape will enable you to take advantage of the best available money factors.
Dealers make money on leases because they are essentially selling the vehicle to the bank that you are leasing through. Dealers can also sometimes mark up vehicles' money factors to add additional back-end profit to deals.
Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.
Car_man
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Sorry, I didn't get an email alert that you responded. Nevertheless, I ran the numbers that you provided and if they are exactly as printed on the contract then, "selling price" did not match up to any of the calculations. I tried several different residual %, and I could not get the same selling price of $37,475 actually nothing is adding up correctly. I personally would wonder why, and how they came up with a rebate with such an odd amount $1,707.33? Seems like they might have rigged up some numbers to make it appear like you were getting the deal of not having to put money down, but they were able to add the money to the price of the car. Tricky!
If you leased through AUDI Financial then you should see an area on the contract that reads "Depreciation Fee". That amount is how they figure out your monthly payment and it is the total amount (minus other fees) that you basically pay during the 39 months. It is calculated like this:
Depreciation Fee = ( Net Cap Cost – Residual ) ÷ Term
So using the numbers that you gave:
? = (38,175 - 20,561.50) ÷ 39 ..... ? (17,613.50) ÷ 39 = 451.62
Your depreciation fee would be $17,613.50 and your monthly payment would be $451.62 + 17.27taxes/rental fee = $ 468.90
So, from the numbers that you provided your monthly payment should be $468.90
Do you see anywhere on your contract that reads "Depreciation and any Amortized Amounts. The amount charged for the Vehicle's decline in value through normal use and for other items paid over the Lease Term" should be below the residual value on the contract and above the rent fee? If so, what amount do they have?
About the odd rebate, it's the amount of First Monthly Payment, Taxes on Capitalized Cost Reduction, Title and registration fee, License fee and Doc. fee. All that adds up to $1707.33. They actually listed it as "Amount to be paid in cash" but they said I don't have to pay it, they paid it for me.
As for the "Depreciation and any Amortized Amounts", the amount is $18412.50.
At this point, I don't even know if any of it matters as it looks like they may be asking for their car back. Like I previously said, they ran the credit the night of purchase and the score was not the greatest (643) so I myself was a bit surprised it went through, I thought it had to be in the 720+. When I went in the next day to question them about the numbers on the contract, they said they found some lien on my credit report and need to have a supervisor at Audi Financial override the transaction. There is no lien that I'm aware of so I don't know where they are getting that from and I have pulled the same credit report.
Anyway, fast forward to today, Thursday, and apparently still no answer from Audi Financial. I really don't understand what the hold up is, either its a go or not. They have made my week very stressful and full of anxiety. I've had the car going on 5 days now and I still don't know if it's mine. Now they are saying tomorrow morning (Friday) the guy who has to make the decision at Audi Financial will be in...we'll see.
Ok, I ran the numbers with the depreciation amount that you provided from the contract along with the others you gave before. NOTHING adds up correctly!
To get their same depreciation amount the agreed upon selling price would be $38,974. Thats +$1,499 difference from the selling price they have listed and +$799 from the Adjusted Capitalized Cost that they had listed and would make the residual value about 52% (which didn't work out to be exact) from the $38,974 and your monthly payment should be $489.39
The only way that I got the exact residual value that they had listed was to make the agreed upon selling price $40,316.66 and the res. value % turns out to be 51%. You might have expressed to them that you planned on buying it at the end of the lease? Because your res. value (the buying price of the car at the end of the lease) should have been $18,412 with the agreed upon selling price-computed from the depreciation value.
Basically they worked the numbers deceptively to get more from you per month, and to be able to charge you more for the car if you were to buy it at the end of the lease. Did you actually see the MSRP total on the window of the car to see the $41,475 ?
----
Ok to your credit report.... I would encourage you to go to identityguard.com and pull your credit report for yourself just in case the dealership is also fibbing about the issue on your report..it could be that Audi Financial has raised question to the calculations... Identity guard will give you 14 days free .... will pull your report from all 3 reporting agencies and give you a score from all three. You can take the 3 scores, add them together, and then divide them by 3 to get an average credit score. Also look to see your credit inquires..check to see what companies have pulled your credit file since you completed an application at the dealership... also of course check out the lien issue that they are stating.. if its not true and they request for the car back tomorrow...let me know asap if you need any other tips.
If they say to bring it back, any idea how much time I have? I am thinking about possibly financing the car instead of leasing. The purchase quote they gave me (that they said was converted into the lease) was...
Vehicle Price: $41,125 (oddly, the same exact setup is $41,475 which is where I got the MSRP price)
Preferred Customer Discount: $2,900
Customer Rebate: $1500 (Audi Loyalty)
__________________
Selling Price: $36,725.00
Sales tax, Doc and Lieu Fees are $4452.13 on top of that. For a selling price of $36,725, I feel the car is a great value. I have really fallen in love with the car and do not want to turn it back over to them. From what I've read online, its typically easier to get a car financed than to get it leased because they can shop the loan to different banks vs just to Audi Financial on the lease. I will also try to get my own car loan.
They should, or I should say they better, still honor the $36,725 selling price. Why do I have a feeling that they will try and pull something like "Well, that was last month's special, we can no longer offer that."
Thank you.
Car_man
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Audi Financial Services' April buy rate lease money factor and residual value for a 39 month lease of a 2011 A4 Avant Premium with 12,000 miles per year are .00083 and 54%, respectively.
Car_man
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Can you confirm the April lease rates for the following
2011 Prem + quattro
39 month / 15k miles
Just wondering how they faired with last months rates. I ordered a car and locked last months rates until delivery unless rates change for the better and I can lock those.
Thanks!
Thanks!
If the dealer has been playing games and apparently manipulating figures to increase their profit at their expense I would give them a chance to fix their math (could have been honest mistake), if they try to increase your costs due to this credit error I would simply thank them for their time and leave them with their slightly used new car. Sounds like they are planning on you being emotionally attached to the car but you probably would be better off getting the same model at a different dealer. Good luck with the lease/purchase!
Final figures are $468.88 + tax, $0 out-of-pocket (including registration and first month payment). MSRP was $41,125.
Car_man
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Car_man
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Im assuming money factor is the same, but the residuals lower for the prem+.
March as 49% if im not mistaken.
Chad
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Did you get a good deal? Be sure to come back and share!
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I just got quoted over the phone $429, 0 money down (cap), 15k miles per year at a local deal in los angeles for an Audi A4 Premium Plus without navigation. I think it's a real good deal and am thinking about going in today.
Is this a good deal?
Anything I should look out for?
Thanks for the help!
19 Inch Sport Pkg
Audi Side Assist
Nutmeg Trim
Exhaust Trim
Destination charge $875
for a MSRP of $46880.00
I am being offered the following:
Price of 44,500 + 800 Audi Care.....
15K miles per year - $794.00 with a residual 46% 39 month lease $1500 Out of Pocket
15K miles per year - $794.00 with a residual 43% 42 month lease $1500 Out of Pocket
12K miles per year - $770.00 with a residual 48% 39 month lease $1500 Out of Pocket
12K miles per year - $772.00 with a residual 45% 42 month lease $1500 Out of Pocket
I am being told that Money Factor for 39 month lease is .172 and for 42 month is .192 (I assume they are leaving off zeros)
I am also being told that for every $1000 I put down, it would lower my monthly payment by $26.00.
How badly am I being taken advantage here and any ideas on what I should tell them the selling price of the car should be, etc... I sure appreciate the help! Be blessed
What are money factor and residuals for May of 2011 for an Audi Premium Plus (not quattro) with Navigation and Sports Package on a 36mo/15k lease and a 39mo/15k lease?
Thanks
As far as the selling price goes, it looks to me as though you're at around $700 or so over invoice...which isn't bad.
Car_man
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Audi Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2011 A4 Sedan Premium Plus without quattro with 15,000 miles per year are .00020 and 47%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical 39 month lease are .00040 and 46%.
Car_man
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can you post May numbers for a 2011 Premium Plus Quattro for both 36 and 39 month, 15k miles?
I ordered a car in march and locked in march rates for the 39 month program, .00072 and 49% residual. The only way it could change is if programs get better.
Im taking delivery this month, so wondering what rates are so im armed with the correct info when taking delivery.
Thanks!