Hi Stick. Unfortunately, used vehicle leases are so much less popular than new vehicle leases and there are so many variables associated with them that I do not personally keep tabs on the specific details of manufacturers' used vehicle lease programs. Sorry that I could not be of more help.
I custom-ordered a light silver and blue leather 2005 Audi A8L and only put on about $14k miles on it as of a few weeks ago. My payoff was $56k, and retailed for $89k, and I added a lot of dealer options, and they threw in a lot, $7k or so worth, and I was able to just sell the car around December 19th for $70,500, not even Audi certified. The car did have all brand new tires and wheels because I was given that program. If a tire or wheel goes bad, they give you a new one - a 3rd party company. Mine all went bad in LA, so I got all new ones including the spare. So, the most miles on any tire, including the spare was only about 500 miles. I sold it for cash, paid off my lease, and pocketed over $13k. My down was $10k when I leased it on a 48 month lease. I just leased a 2007 S8 and again got an incredible deal. I think my payments are at least $600 per month less than some of my friends who also ordered the car. I ordered it in July of 2006, but because of lack of carbon fiber, the car just came in on 12/17 or so. I expect to do well on this as well. If you end up with $10-20k after 2 years you are doing pretty well, especially if you put less than $10k (2005 A8L), or $2500 (2007 Audi S8).
I also rented the new Mercedes 2007 S550 and it was like a Chrysler! And about $130k with lots of options. I have owned three S Class Mercedes since 2000 and they were great. But this new 2007 was crap!
I tend to agree with you on the new S Class. To me it drives very Lexus like which is fine if you want that but the steering is way overboosted. Can I ask you the specifics on your S8 lease deal. I've leased many cars and have never walked away on the plus side. I've just turned the car in and paid for any excess mileage. Thanks
I always lease because of the huge deduction on my company or myself, personally. I can write off 100% of the payment, the insurance, the gas, etc. I do have several cars but always treat the Audi as my "business car".
That being said, I helped the dealership that sold me my A8L by selling another 40 cars to other friends of mine, albeit A4 Turbo's, A6's, and about another 8 or so A8L's and two A8-W12's, and only dealt with the Fleet/Internet manager. He got me the car fully loaded, except for only the solar sunroof, but threw in the Auto-Armor, the 4-year unlimited tire/wheel replacement package, one-year of prepaid OnStar, the $399 a year package, which was the last year that Audi included that on any Audi - and that saved me about $7.5k. Then he took $8k off the MSRP of the car. So after putting the $10k down, I sold the 48-month lease car as if I had financed it. I used to import European cars in the mid-1980's before all of that ended, so I am familiar with hundreds of Euro cars. I also entered the market when leasing was one year away. Now, I leverage that, keep low miles on the Audi, and get a lot of money back, because I never and WOULD NEVER turn a lease car back in. I usually do a 42-48 month lease, depending on the car, it's residual, etc. But my 2005 A8L had a residual, after 48 months, of almost $49k. So, I sold it two years early and pocketed between $13k and $14k. Never turn in your leased car and get rid of it early. A four year lease usually breaks even, if you purchased (leased) the car at a good price, at between 24-30 months. So, I walked away with that money and then got almost the same freebies, although this time the tire/wheel warranty is illegal to sell in CA, there is NO ONSTAR anymore which I hate, but he threw in the auto-armor, Lo-Jack, and XM Satellite Radio, and reduced the MSRP by $3.5k. Most people cannot get a penny off MSRP, but I got that because I send the dealership a lot of business, albeit not 40 cars in a year anymore, but at least 10-15 finances, cash purchases, and leases. I called Beverly Hills Porsche Audi just to confirm that I had a great deal, and they quoted me $5400 drive-off on a 48-month lease with payments of around $2450 w/tax. But that did not include XM, or the auto-armor, or free Lo-Jack. So, the payment would've most likely been at least $90 higher.
The car had a sticker of about $112995 without ANY satellite radio, I hate Sirius, and they all come with that, and it's total crap, so the car is already pre-wired for any kind of satellite radio, so he got me a new XM Radio, with 90 days free so I can continue my family plan. I have four cars with XM and a portable unit as well.
So, I know the car will hold much more of it's value than what they are estimating - which is basically slightly less than my 2005 A8L at close to $88k, with a residual close to $49k. They are saying that this car will only be worth in the low $40's in four years. But because 2009 brings about the new RS8 with the 604HP engine, making it 0-62 in about 3.5 seconds, I am willing to gamble.
Plus the A8 series is being completely re-designed for 2009. I will order a 2009 RS8, most likely closer to $160k, because of the ceramic brakes and other features they will start to offer in 2008 and 2009, and the re-design of the car, and I bet I will get close to $85k for my car in 18 months. Because it's going, and I ordered a unique S8 color and interior, and because the car is just plain gorgeous.
Hope that helps. Never turn in a lease and sell it early until the lease "break-even" point. This is the best time to sell a leased car and pay it off as if it is a finance. I have been doing this since the late 1980's, and I always get a good chunk of money back, even on BMW's, and especially on the BMW M cars, and Porsche 911's!
Almost ready to lease an Audi A8L here in the Western burbs in Chicago. I already own an A6 - the wife loves it! I am wondering a few things. First off, this vehicle lists for $80,470 and includes the $4,400 Premium Package, the $1,900 19" wheel option, and the $550 Sorry-is Sat Radio. What kind of discount might I expect? And anyone know the residual and money factor for a 36 month lease? The guys at the dealer said the 36 month lease is the "sweet spot" these days and to expect the best money factor there. They also said that if I pay a $550 service fee, all scheduled maint. is covered. And finally, as a returning customer, there is supposedly some money factor discount?
I know I am asking for a lot, but this $50,000+ for a car is new territory for me. If it wasn't for the beauty and overall package of the A8L, I wouldn't even be doing this - the new A6 is just around the corner anyway.
I know that I had the best deal in my 2005 A8L, the last year Audi covered everything, not just scheduled maintenance, and sold the tire/wheel package, and had OnStar, etc. But my car was almost $90k plus extra options. How can yours be so cheap? I had the 19" wheels, but I also had every option "except" the solar sunroof, plus the tire/wheel 48 month option, Auto-Armor, VERY IMPORTANT in sunny states, like CA, Lo-Jack, OnStar (paid for one year at $399.95), and an extra set of sports Dunlop 19" tires all for free. Plus an extra $7.5k discount off retail. My payment was only $940.03 (including 8.25% sales tax in CA) - $866 base on a 48 month lease and I sold it last month and got back almost $14k with a $10k down payment on the original lease.
This is actually a very cheap car because I had all the packages that were offered plus more than was ever shown on the sticker. I guess it was a better time and lower lease rate for the car. I hear know that you don't even get a real 19" or 20" wheel and tire, that they put that crappy Mercedes-type black wheel, which is smaller, and can't even register on the Tire Pressure System! How pathetic it's become so soon.
The car is great and I went back and leased a 48 month 2007 S8 which I love - but I got about $4k in free stuff and $3.5-4k off MSRP, and my drive-off was only $2500.
So I owe about $110k on the car and my first payment is about $2000 with tax on 02/01/07. I will dump it in about 16 months to get the new body style 2009 A8 and the new RS8 with the high-end Lambo engine in it for between 605-620HP.
I really can't help but this link came to my email.
I am sorry but I did have my first 1983 Porsche 928S in 1983, and took delivery in late 1982 at seventeen. The MSRP was about $55k.
It was the fastest production car in the US at the time at 146mph.
My insurance was about $10.5k a year for the first year. So, I don't think of a car today at $150k or even $350k being expensive. If you do the math, I think my old 1983 928S would be a $400k+ car.
So, maybe you shouldn't stick with the low-end German stuff. I have had only about 550 cars since 1985, mostly about 490 Euro imports between 1984-1990. So, I am quite aware of the expense and insurance costs of these cars. I guess I just don't get it. Unless you pay $250k or more, why [non-permissible content removed] about the car. If it breaks down, purchase another one and move one. I mean a decent house in LA is about $5MM! And that's a poor person's house in LA terms.
I guess what I am saying is just get up to speed on cost in this country. There is no longer a middle, or upper middle class. You are either poor, the last of the upper middle class, or rich and/or super-rich (being above $500MM or so).
Hi berisky. I can give you an idea of what this car's current lease program is like. You never mentioned how long you want to lease it for or what sort of mileage allowance you need, so for now I am going to assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Audi A8 short wheel base with 15,000 miles per year are .00130 and 46%, respectively.
I don't know where your buying your cars, but new A8's have between 4500-6000 markup depending on the options, and we don't work for free. At the end of the model year the factory puts money on the cars so, then and only then, is it possible to discount 10g's and not lose money.
I got that off of my 2005 A8L when the lease rates were better. Plus they also threw in the auto-armor, the tire/vehicle 4 year warranty, the VIN etching on all windows, and LoJack. But I did sell 40 other cars that year to clients through the same dealership. I only got off about $3k on the 2007 S8.
Thats understandable then if you brought in that kind of business; I just wanted to make the point that the average buyer off the street isn't going to be able to save 10 grand on an 07 right now. How do you like the S8? IMHO, its the best car on the road for under 200 grand, and the B & O system is worth every penny......
I absolutely love my 2007 S8 ... the exterior color/and dual interior seats is completely amazing! I know I will be able to pocket some money when I get rid of it. I am already to order my 2009 RS8 with the 610+hp LAMBO engine and the new body of the A8.
I love the tweeters popping up and stuff, but with XM, CD, etc., I was kind of disappointed with an option that retails for about $6300. I did get about $600 off that option. I just hope it all works out.
I just went by a friend in a new Aston Vanquish S ($289k or so), he tried NOT to look but eventually did.
The car is truly gorgeous. And again, I have every option, except the Solar Sunroof, which I think is a waste in CA or anywhere sunny, because it's doesn't charge a separate battery to run the actual compressor, just the fans. So it can barely cool the car in the sun.
I started my quest for a new car this week and had no intentions of buying an A8. Well needless to say, one look and I was hooked. The offer I have on the table is the following:
A8 Short w/ premium, 19”, massage, Sirius MSRP - $77970 Invoice - $72574 (according to KBB) Offer - $73608 Residual – 44% (45% if I have them throw in the $599 maintenance program) Money Factor – 0.00145 Payment with 7.75% tax - $1322.79
I’m in So Cal and wanted to know if the Residual and MF sound right for my region thru Audi Financial. A couple of posts back you stated that they were 46% and 0.0013. I just want to be sure that they are not marking these up. Also, do you think that there is room for further negotiation?
Hi Tim-in-Cali. The Audi A8 is definitely a very nice car. The selling price that you were quoted, $1,100 over dealer invoice, isn't bad. Audi's March lease program is different than the numbers that you were quoted though. Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 A8 Short Wheel Base with 12,000 miles per year are .00080 and 40% (man what a bad residual value), respectively. Make sure that the dealer uses these numbers to calculate your car's monthly payment. Since you are in such a competitive market, it wouldn't hurt to see if another Audi dealer in your area was willing to beat this offer, but it's not bad.
UGGG ... I can't believe that the residual dropped so much. If I plug in the same numbers to my lease calculator, the payment jumps to 1382.65 w/tax. That's an increase of $60. I also dropped the residual by 1% to account for the 15K miles (this is what I was told the delta was between 15K and 12K). Any suggestions?
A8's are in extremely short supply and there are very few on dealer lots right now depending on the region you live in. Audi doesn't have to really push this car int the US market with inventory levels so low, so that's why the residuals are pretty bad right now.
I'm sorry that this car's lease program isn't better, Tim. It is what it is. The only thing that you can do to lower your lease payment is to negotiate as low a selling price as possible.
I'm negotiating for an A8L using a Premier Purchase. Quoted 41% residual. 2.25% interest. The salesman maintains that with the PP they don't use a money factor. True? So is the interest on depreciated amount (difference between MSRP and residual)? When I do my numbers I get a monthly of depreciation payment + monthly interest that is about $200 less per month. Thoughts?
I have seen this car's lease program and would be happy to help you out, ebb. Audi Financial Services' program for it varies by term and mileage allowance. You never mentioned how long you are interested in leasing for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Through June 4th, AFS' current 36 month, 15k buy rate lease money factor and residual value for the 2007 S8 are .00355 and 45%, respectively.
What you were told is correct, orm1. Audi Financial Services' Premier Purchase Program is what is known as a balloon note program. Balloon notes use interest rates instead of money factors to calculate the interest portion of payments. I do not personally keep tabs on the details of balloon note programs, but the 2.25% interest rate that you were quoted for this car looks about right to me.
Does anyone have the current (month of June) 24 and 36 rates and residuals for the S8? I am also wondering if there are any incentives for the S8. As much as I love this car, they are simply not selling and there is a huge amount of inventory sitting on dealer lots. There are over 100 S8s listed on AutoTrader alone and I know of 2 local dealers that have S8s that aren't listed on AutoTrader. I can only imagine how many there are out there. I would think (and hope) as the '07 model year comes to and end there will be a huge incentive on this car either in the form of cash back or an aggressive lease program. Thanks in advance for any info.
Here's the information that you're looking for, jkrutch. Through July 31st, Audi Financial Services' buy rate lease money factor and residual value for a 24 month lease of a 2007 Audi S8 with 15,000 miles per year are .00323 and 51%, respectively. The numbers for an otherwise identical 36 month lease are .00323 and 42%. As you can see, this car's lease program is pretty bad.
I need to turn in my Lexus LS at the end of August and want to lease (or buy) an 07 A8L. The numbers right now look pretty bad. I am looking for 36/48 month 15k.
1) Do you think Audi 2007 lease programs will get more aggressive when we get into August?
2) Right now, the lease program on the 2004s is great. DO you think that a similar program for the 2005's is coming soon? and is this a better value?
Hi hotsko. Audi's current lease program for the 2007 A8 is scheduled to run through July 31st. It is difficult to say what its August program for this car will be like, but I personally do not expect it to be dramatically different.
Don't count on great leasing deals on the 2007 A8 as time goes by. The new 08 A8 models won't be here until late October or November at the earliest.
The A8/S8 is currently the only car that has no year end dealer cash or special financing incentives. That leads me to believe there aren't a whole lot of 07 A8's sitting on dealer lots, and Audi isn't really worried about selling the last of them off.
You gotta buy the A8 because you really want it, not because of a cheap lease payment. You can get a 7 series for 150- 200/mo less money on a lease, but that doesn't seem to keep people from buying the A8.
And I think the minor reskin on the fender flares on 08 models has the 07 production cut short, and there aren't near as many cars left on dealers lots as last year this time.
Just a quick question. I am going through a "lease broker" where the offer is to take over a lease from someone elses AUdi.
It is an Audi A8L, fully loaded (convenience pckg,leather arm rest, cold weather Pkg, 19 inch spoked wheels, front/rear parktronic, dual pane security glass,front seat vent/message, rear seat lumbar support). I believe it is certified and has another 50k on the warranty.
The price is 1050/month. No down payment since I am simply taking over his lease. It is a 2005 A8L with 25,000 miles with 28 months left on the lease.
Sounds pretty good, just don't know if this is currently a good lease price since the original buyer got this price 2 years ago.
That doesn't sound too bad of a deal. You're looking at 1400 month + on a new A8 with at least 4,000-5000 down.
I would verify that this A8 is certifed. I would never want to own an A8 out of warranty, so be careful about that.
Also, be aware that Audi changed it's policy and you can no longer transfer the 6/100k warranty. I think it was Aug/Sept of 2006 that was the cut-off for transferring CPO's, so make sure your car was purchased before that date and you can send the transfer form in for $150.
Thanks rjlaero, I checked and since I am simply assuming his lease, the owner (the bank) does not change. So I should not even need a transfer form. (at least that is what my lease broker says). He sounds quite knowledgeable, so I guess I will go for it. If there is a problem I will let the forum know.
Great to read your post. I have an 06A8L loaded with premium/sport package, front ventilation, massage, heat, sun shades, parking sensor and so on... my end of lease purchase price is 56K, and current millage is 19800.
You said never turn in a lease. In my case, shall I sell it myself? If so, how do it do it? My lease ends next month.
FYI, according to edmunds, trade in value is about 60K, private party price is 65K, dealer sell price is 69K, and CPO is 73K.
Thanks a lot for help.
ps. I try to lease a new A8L (need the size for family), 12K/yr, 2-3 yr lease. any idea how much to pay for same options (live is SoCal)?
Good luck getting 65k selling your 2006 A8 private party.
A8's are wonderful cars, but you will take a big hit on depreciation. And they can be very hard to sell at times. Why spend that much on a used one when you can get a brand new one for not that much more?
With market allowances and rebates, few would pay 73k for a certified 2006 A8L.
There's $7,000 cash back right now on A8's. So a 82k brand new A8 has a net dealer cost of 70-71,000.
Edmunds numbers are way off base sometimes, so take that with a grain of salt. The high end of the market is very tough and there's a lot of competition out there.
Sometimes you're better off turning your high end car in and walking away and getting something else. Maintenace and repair are expensive for any high end car and they lose value quickly.
Does anyone know if Audi is likely to take back a 2005 8L with 19000 miles whose lease expires 3/08 early inorder to get the new 08 8L now? Also what is the 3 year residual on the car I had a 42 month lease for $1096 on a well equipped 05.Someone mentioned a 6000 or 7000 dealer rebate is that on the 08's?
The new 2008 A8 is a minor re-style. There isn't a new 2008 A8 on a dealers lot right now. The offical release won't be until November.
There's usually no incentives on A8 leases. If there's dealer cash, it's always at the end of the model year. There's dealer cash on leftover 2007's right now.
Unless you put a lot of money down, it's hard to get out of an A8 lease early. 9 times out of 10 the car won't be worth the current payoff.
I sure can, nygxdriver. You never mentioned what term or mileage allowance you are interested in, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 Audi A8L with 15,000 miles per year are .00048 and 41%, respectively. Good luck in your quest for a new A8, it's a really nice car.
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Hi shawn757. Audi pulled the plug on its special lease program for the A8. This car's residual values are so terrible that they probably figured that it was too expensive to provide a reasonable lease program on it. A 36 month, 15k resid of 37% is pretty darn bad. Instead of lease support, Audi is currently providing $8,000 dealer cash on long wheel base A8 models plus an additional three grand on units that have been sitting on dealer lots for a really long time.
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Thanks for the info. My question is car man is that 0.9% finance rates compatible with the dealer cash? Also what about the 2009 models? What is the residual for 15k and money factor?
Hey shawn757. Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 A8 4.2 with 15,000 miles per year are .00301 and 36%, respectively. the numbers for an otherwise identical lease of a 2009 A8 are .00048 and 40%.
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I also rented the new Mercedes 2007 S550 and it was like a Chrysler! And about $130k with lots of options. I have owned three S Class Mercedes since 2000 and they were great. But this new 2007 was crap!
Can I ask you the specifics on your S8 lease deal. I've leased many cars and have never walked away on the plus side. I've just turned the car in and paid for any excess mileage.
Thanks
That being said, I helped the dealership that sold me my A8L by selling another 40 cars to other friends of mine, albeit A4 Turbo's, A6's, and about another 8 or so A8L's and two A8-W12's, and only dealt with the Fleet/Internet manager. He got me the car fully loaded, except for only the solar sunroof, but threw in the Auto-Armor, the 4-year unlimited tire/wheel replacement package, one-year of prepaid OnStar, the $399 a year package, which was the last year that Audi included that on any Audi - and that saved me about $7.5k. Then he took $8k off the MSRP of the car. So after putting the $10k down, I sold the 48-month lease car as if I had financed it. I used to import European cars in the mid-1980's before all of that ended, so I am familiar with hundreds of Euro cars. I also entered the market when leasing was one year away. Now, I leverage that, keep low miles on the Audi, and get a lot of money back, because I never and WOULD NEVER turn a lease car back in. I usually do a 42-48 month lease, depending on the car, it's residual, etc. But my 2005 A8L had a residual, after 48 months, of almost $49k. So, I sold it two years early and pocketed between $13k and $14k. Never turn in your leased car and get rid of it early. A four year lease usually breaks even, if you purchased (leased) the car at a good price, at between 24-30 months. So, I walked away with that money and then got almost the same freebies, although this time the tire/wheel warranty is illegal to sell in CA, there is NO ONSTAR anymore which I hate, but he threw in the auto-armor, Lo-Jack, and XM Satellite Radio, and reduced the MSRP by $3.5k. Most people cannot get a penny off MSRP, but I got that because I send the dealership a lot of business, albeit not 40 cars in a year anymore, but at least 10-15 finances, cash purchases, and leases. I called Beverly Hills Porsche Audi just to confirm that I had a great deal, and they quoted me $5400 drive-off on a 48-month lease with payments of around $2450 w/tax. But that did not include XM, or the auto-armor, or free Lo-Jack. So, the payment would've most likely been at least $90 higher.
The car had a sticker of about $112995 without ANY satellite radio, I hate Sirius, and they all come with that, and it's total crap, so the car is already pre-wired for any kind of satellite radio, so he got me a new XM Radio, with 90 days free so I can continue my family plan. I have four cars with XM and a portable unit as well.
So, I know the car will hold much more of it's value than what they are estimating - which is basically slightly less than my 2005 A8L at close to $88k, with a residual close to $49k. They are saying that this car will only be worth in the low $40's in four years. But because 2009 brings about the new RS8 with the 604HP engine, making it 0-62 in about 3.5 seconds, I am willing to gamble.
Plus the A8 series is being completely re-designed for 2009. I will order a 2009 RS8, most likely closer to $160k, because of the ceramic brakes and other features they will start to offer in 2008 and 2009, and the re-design of the car, and I bet I will get close to $85k for my car in 18 months. Because it's going, and I ordered a unique S8 color and interior, and because the car is just plain gorgeous.
Hope that helps. Never turn in a lease and sell it early until the lease "break-even" point. This is the best time to sell a leased car and pay it off as if it is a finance. I have been doing this since the late 1980's, and I always get a good chunk of money back, even on BMW's, and especially on the BMW M cars, and Porsche 911's!
Good luck.
Brian
Almost ready to lease an Audi A8L here in the Western burbs in Chicago. I already own an A6 - the wife loves it! I am wondering a few things. First off, this vehicle lists for $80,470 and includes the $4,400 Premium Package, the $1,900 19" wheel option, and the $550 Sorry-is Sat Radio. What kind of discount might I expect? And anyone know the residual and money factor for a 36 month lease? The guys at the dealer said the 36 month lease is the "sweet spot" these days and to expect the best money factor there. They also said that if I pay a $550 service fee, all scheduled maint. is covered. And finally, as a returning customer, there is supposedly some money factor discount?
I know I am asking for a lot, but this $50,000+ for a car is new territory for me. If it wasn't for the beauty and overall package of the A8L, I wouldn't even be doing this - the new A6 is just around the corner anyway.
Thanks in advance for your help.
Jim
This is actually a very cheap car because I had all the packages that were offered plus more than was ever shown on the sticker. I guess it was a better time and lower lease rate for the car. I hear know that you don't even get a real 19" or 20" wheel and tire, that they put that crappy Mercedes-type black wheel, which is smaller, and can't even register on the Tire Pressure System! How pathetic it's become so soon.
The car is great and I went back and leased a 48 month 2007 S8 which I love - but I got about $4k in free stuff and $3.5-4k off MSRP, and my drive-off was only $2500.
So I owe about $110k on the car and my first payment is about $2000 with tax on 02/01/07. I will dump it in about 16 months to get the new body style 2009 A8 and the new RS8 with the high-end Lambo engine in it for between 605-620HP.
I really can't help but this link came to my email.
Good luck. But get at least $10k off the car.
It was the fastest production car in the US at the time at 146mph.
My insurance was about $10.5k a year for the first year. So, I don't think of a car today at $150k or even $350k being expensive. If you do the math, I think my old 1983 928S would be a $400k+ car.
So, maybe you shouldn't stick with the low-end German stuff. I have had only about 550 cars since 1985, mostly about 490 Euro imports between 1984-1990. So, I am quite aware of the expense and insurance costs of these cars. I guess I just don't get it. Unless you pay $250k or more, why [non-permissible content removed] about the car. If it breaks down, purchase another one and move one. I mean a decent house in LA is about $5MM! And that's a poor person's house in LA terms.
I guess what I am saying is just get up to speed on cost in this country. There is no longer a middle, or upper middle class. You are either poor, the last of the upper middle class, or rich and/or super-rich (being above $500MM or so).
It's sad but someone voted Bush President!
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Brian
I don't know where your buying your cars, but new A8's have between 4500-6000 markup depending on the options, and we don't work for free. At the end of the model year the factory puts money on the cars so, then and only then, is it possible to discount 10g's and not lose money.
I love the tweeters popping up and stuff, but with XM, CD, etc., I was kind of disappointed with an option that retails for about $6300. I did get about $600 off that option. I just hope it all works out.
I just went by a friend in a new Aston Vanquish S ($289k or so), he tried NOT to look but eventually did.
The car is truly gorgeous. And again, I have every option, except the Solar Sunroof, which I think is a waste in CA or anywhere sunny, because it's doesn't charge a separate battery to run the actual compressor, just the fans. So it can barely cool the car in the sun.
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I started my quest for a new car this week and had no intentions of buying an A8. Well needless to say, one look and I was hooked. The offer I have on the table is the following:
A8 Short w/ premium, 19”, massage, Sirius
MSRP - $77970
Invoice - $72574 (according to KBB)
Offer - $73608
Residual – 44% (45% if I have them throw in the $599 maintenance program)
Money Factor – 0.00145
Payment with 7.75% tax - $1322.79
I’m in So Cal and wanted to know if the Residual and MF sound right for my region thru Audi Financial. A couple of posts back you stated that they were 46% and 0.0013. I just want to be sure that they are not marking these up. Also, do you think that there is room for further negotiation?
Thanks,
Tim-in-Cali
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Thanks,
Tim-in-Cali ...
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Thanks in advance!
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I need to turn in my Lexus LS at the end of August and want to lease (or buy) an 07 A8L. The numbers right now look pretty bad. I am looking for 36/48 month 15k.
1) Do you think Audi 2007 lease programs will get more aggressive when we get into August?
2) Right now, the lease program on the 2004s is great. DO you think that a similar program for the 2005's is coming soon? and is this a better value?
Thanks,
Confused.
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The A8/S8 is currently the only car that has no year end dealer cash or special financing incentives. That leads me to believe there aren't a whole lot of 07 A8's sitting on dealer lots, and Audi isn't really worried about selling the last of them off.
You gotta buy the A8 because you really want it, not because of a cheap lease payment. You can get a 7 series for 150- 200/mo less money on a lease, but that doesn't seem to keep people from buying the A8.
And I think the minor reskin on the fender flares on 08 models has the 07 production cut short, and there aren't near as many cars left on dealers lots as last year this time.
I am going through a "lease broker" where the offer is to take over a lease from someone elses AUdi.
It is an Audi A8L, fully loaded (convenience pckg,leather arm rest, cold weather Pkg, 19 inch spoked wheels, front/rear parktronic, dual pane security glass,front seat vent/message, rear seat lumbar support). I believe it is certified and has another 50k on the warranty.
The price is 1050/month. No down payment since I am simply taking over his lease. It is a 2005 A8L with 25,000 miles with 28 months left on the lease.
Sounds pretty good, just don't know if this is currently a good lease price since the original buyer got this price 2 years ago.
Any thoughts??
I would verify that this A8 is certifed. I would never want to own an A8 out of warranty, so be careful about that.
Also, be aware that Audi changed it's policy and you can no longer transfer the 6/100k warranty. I think it was Aug/Sept of 2006 that was the cut-off for transferring CPO's, so make sure your car was purchased before that date and you can send the transfer form in for $150.
I checked and since I am simply assuming his lease, the owner (the bank) does not change. So I should not even need a transfer form. (at least that is what my lease broker says).
He sounds quite knowledgeable, so I guess I will go for it. If there is a problem I will let the forum know.
THanks again
C
Great to read your post. I have an 06A8L loaded with premium/sport package, front ventilation, massage, heat, sun shades, parking sensor and so on... my end of lease purchase price is 56K, and current millage is 19800.
You said never turn in a lease. In my case, shall I sell it myself? If so, how do it do it? My lease ends next month.
FYI, according to edmunds, trade in value is about 60K, private party price is 65K, dealer sell price is 69K, and CPO is 73K.
Thanks a lot for help.
ps. I try to lease a new A8L (need the size for family), 12K/yr, 2-3 yr lease. any idea how much to pay for same options (live is SoCal)?
A8's are wonderful cars, but you will take a big hit on depreciation. And they can be very hard to sell at times. Why spend that much on a used one when you can get a brand new one for not that much more?
With market allowances and rebates, few would pay 73k for a certified 2006 A8L.
There's $7,000 cash back right now on A8's. So a 82k brand new A8 has a net dealer cost of 70-71,000.
Edmunds numbers are way off base sometimes, so take that with a grain of salt. The high end of the market is very tough and there's a lot of competition out there.
Sometimes you're better off turning your high end car in and walking away and getting something else. Maintenace and repair are expensive for any high end car and they lose value quickly.
There's usually no incentives on A8 leases. If there's dealer cash, it's always at the end of the model year. There's dealer cash on leftover 2007's right now.
Unless you put a lot of money down, it's hard to get out of an A8 lease early. 9 times out of 10 the car won't be worth the current payoff.
Can you tell me what the current money factor and residuals are for the A8L?
Thanks,
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