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Audi Q7 Lease Questions
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I have a $519 quote for 10K lease on Premium 3.6 Q7 with Convenience Package. It does not have sunroof and selling price is $45217. With $3386 cap reduction (tax, acquisition fee and first payment) adjusted cap cost is $43717 since tax is added to selling price. Dealer is using .00062 money factor which seems high compared with .00038 mentioned here. The residual value is $26603 using 55% residual and MSRP of $48370. Should it be calculated using actual selling price instead? Please let me know what you think.
Thanks, Ernie
Thanks
Just saw that Audi came out with another lease offer. Can you please give us the updated lease rates on the 3.6 premium and 4.2 non-premium? Thanks
Car_man
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I personally would never purchase a maintenance plan on a leased vehicle, however in this instance it might pay to. That is because Audi Financial Services boosts the residual values of vehicles that have Audi Care plans by 1%. This often covers the cost of getting Audi Care.
Car_man
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Car_man
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What are the new residuals for 3.6 premium and 4.2 non-premium models? Thanks for your help.
Thanks in advance.
Who is this deal with and what trim?
I am in NY, will see what I can get here.
Could someone take the time to explain to a total newby what all leasing terms mean (I kind of understand residual percentage; but what is money factor).
I am going to lease a Q7, trying to get a 4.2. My budget is $700/months for 36 months, 15000/year, zero down. I figure an MSRP of $60-62k should fit that budget?
And where is a good place to look up the dealer invoice?
Ideally, I would like to configure my car, then use the info published here (money factor, residual, MSRP) to massage it until I am close to my budget. Then approach the dealer to quote/find the car.
Volker
Example Calculation Using the Leasing Formula
Let's assume you've decided on 3-year (36 month term) lease of a Toyota Camry XLE that has a sticker price of $24,600 (MSRP).
You've managed to negotiate the price down to $23,000 (Cap Cost). You decide not to make a down payment, but you have a trade-in worth $5000. Your Net Cap Cost is therefore $23,000 - $5000 = $18,000.
Now, the dealer tells you (because you asked) that the Money Factor is .00375 (.00375 x 2400 = 9.0%) and the Residual Percentage is 60% of MSRP. So your Residual amount, in dollars, is .60 x $24,600 = $14,760.
Now let's do the math:
Depreciation Fee = ( $18,000 – $14,760 ) ÷ 36 = $90.00
Finance Fee = ( $18,000 + $14,760 ) × .00375 = $122.85
—
Monthly Lease Payment = $90.00 + $122.85 = $212.85
(sales tax not included)
Please comment on the above example.
I am going to lease a Q7, budget is $700/months, 36 months, 15,000 mls/year, zero down. Trying to get a 4.2 w/ 20 inch, sunroof, backupcamera, or 4.2 premium.
What would be the factors I should use. Obviously MSRP (I figure $60-62 should get me there), negotiated price (how much should I deduct? Is 5% possible?), what money factor should I use? What residual?
I am in the Lansing/Ann Arbor/West Detroit area.
Where to go to find out the dealer invoice?
Thanks for your help for a lease newbie.
Volker
Car Audi Q7 4.2
Lease time 36 months
mile/yeara 15000
MSRP 62000
Negotiated 58000
Residual 53 %
Redidual 32860 $
Money Factor 0.00038
APR 0.912 %
Downpayment 0
Net Cap Cost 58000
Depreciationg Fee $698.33
Finance Fee $34.53
Monthly lease payment $732.86
Please comment/correct.
Volker
Also, with no money down, you are capitalizing your taxes and all the other fees that a dealer would tack on (Reg, docs, prep, acq fee) which can be a few bucks.
Good luck,
Volker
Zero down just means that there is no cap cost reduction. Expect to pay about $1700 (including 1st month) out the door.
Go to www.edmunds.com to get the invoice pricing.
aH
Car_man
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Audi Financial Services charges a $575 acquisition fee on every vehicle that it leases. Individual dealers do not have the authority to waive this charge. The dealer fee is a different story. This essentially is a way for the dealer that you are working with to add additional profit to your deal. Make sure to take it into account as part of your truck's total price when you negotiate its selling price. If the total selling price of the Q7 that you want is less than or similar to what you would have to pay for it at another dealer it doesn't really matter how the deal breaks down.
I always find that savvy consumers who live in areas that have a decent level of competition can beat the TMV price pretty easily. Try stopping by the following discussion to see how much other community members have paid for similar vehicles lately: "Audi Q7: Prices Paid & Buying Experience".
Car_man
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Car_man
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You can find this truck's dealer invoice price by looking it up in the New Vehicle Pricing section of this site.
Car_man
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Car_man
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Also is the new Advanced Key for the Q7 more reliable than this feature for the Audi A6 2-3 years ago? I see several reports of problems with the Advanced Key on the Audi A6 forums.
Today, I used the key and odo button method and wrote down the following error codes with description from one source:
P0403 Exhaust Gas Recirculation (EGR) Solenoid Control Circuit
P0442 Evaporative Emission (EVAP) System Small Leak Detected
P0455 Evaporative Emission (EVAP) System Leak Detected
P1684 Driver 5 Line 4
Ohter source:
403 An problem was detected in the EGR solenoid control circuit.
442 A leak has been detected in the evaporative system!
455 A large leak has been detected in the evaporative system!
1684 The battery has been disconnected within the last 50 starts.
1) 0403: seems something in the EGR solenoid area.
2) 0442. 0445: both deal with leak in evaporative system. What is the evaporative system? The A/C?
3) 1684: battery was for sure not disconnect within last 50 start. Ohter code Driver 5 Line 4 does not tell me anything.
I would like to tackle the issue, and would appreciate tips and instructions.
Volker
Just looking over the lease contract ... paid 43555 + 550 for audi care totals 44105 gross cap cost. 125.49 of cap cost reduction (collected in the 2k) = 43979.51 adjusted cap cost with residual of 26020.50.
Would it be at all possible and what would be the residual value -- or "extra miles" cost -- of a 36 month, 90,000 miles lease (i.e., 30k mi / yr) of a Q7 4.2 Premium?
Doing something like that also means that you will be leasing a car (meaning you don't own it) that eventually will be out of warranty. You will change the tires several times. You will pay a lot for maintenance for a car that you don't own.
My suggestion, as I actually did this, is lease the car you really want (Q7), and then buy yourself a used Honda Civic to eat the miles.
Is this a good lease?
Go for it!