2019 Q7 Lease - I Think I'm Getting Hosed...just not sure where

cganilo93cganilo93 Member Posts: 7
edited July 2019 in Audi
Just got quoted $0 down, 36mos/12k per year lease at $1264.04. It's a 2019 Q7 Prestige that has an MSRP of $74,575. Dealer discounts of $4,500 ($3k dealer, $1500 rebate). What I'm shocked by is the residual value of 48%, which feels 6-7% lower than I would have expected. Dealer said they do this to avoid upside down consumers at the end of their lease. Feels strange...any feedback on this would be most appreciated.
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  • MichaellMichaell Moderator Posts: 259,561
    cganilo93 said:

    Just got quoted $0 down, 36mos/12k per year lease at $1264.04. It's a 2019 Q7 Prestige that has an MSRP of $74,575. Dealer discounts of $4,500 ($3k dealer, $1500 rebate). What I'm shocked by is the residual value of 48%, which feels 6-7% lower than I would have expected. Dealer said they do this to avoid upside down consumers at the end of their lease. Feels strange...any feedback on this would be most appreciated.

    What is your ZIP code?

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  • cganilo93cganilo93 Member Posts: 7
    80516
  • MichaellMichaell Moderator Posts: 259,561
    cganilo93 said:

    Just got quoted $0 down, 36mos/12k per year lease at $1264.04. It's a 2019 Q7 Prestige that has an MSRP of $74,575. Dealer discounts of $4,500 ($3k dealer, $1500 rebate). What I'm shocked by is the residual value of 48%, which feels 6-7% lower than I would have expected. Dealer said they do this to avoid upside down consumers at the end of their lease. Feels strange...any feedback on this would be most appreciated.

    cganilo93 said:

    80516

    .00076 and 48%
    $1500 incentives

    If you can live with the equipment levels of a Premium Plus, the residual is 4% higher.

    Audis are not known for their strong lease programs.

    Dealer can say anything they want; it's the bank that sets the residual value.

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  • cganilo93cganilo93 Member Posts: 7
    Ok - thanks for the heads up and the information. I'm still staggered by the residual, perhaps incorrectly so but still. A shame that the lease program isn't competitive as I really like the car. Thanks again
  • MichaellMichaell Moderator Posts: 259,561
    cganilo93 said:

    Ok - thanks for the heads up and the information. I'm still staggered by the residual, perhaps incorrectly so but still. A shame that the lease program isn't competitive as I really like the car. Thanks again

    Isn't that always the case? :smile:

    I have a friend who owns a Q7 Prestige - it is a very nice ride. He bought his as a service loaner with less than 10,000 miles on it.

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