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The first thing you need to do is remove your downpayment. You lose every which way doing putting money down. You should negotiate purchase price first, not lease price. Then we can compare apples and apples.
I just leased my Q7 on June 2nd, and for a 3.6 Premium, with Audi Care, for 3 years, 12K miles per year, and the residual was 53%. The money factor on the lease was .00019 (1/2400). Per the dealers finance office, these are the rates through 7/2/07.
I think I have been looking at numbers wrong. Can someone please clarify something... Is the lease residual calculated from MSRP (regardless of how much I pay) or from the sell price I negotiate?
It seem to me that no matter how much I discount a price to plug into lease calculators, I always end up with outrageous monthly payments. I'm wondering if I'm doing something wrong...
It makes the use of a cellular phone much safer and it makes the armrest look much nicer with covers over the cupholders instead of both cupholders being exposed.
Sorry for the delay in responding, a long weekend of lacrosse games & tournaments.... The sales price on my Red Q7 3.6 Premium was $53318 (1% over invoice), + 2671 taxes (MD) and $229 tags/fees. I put down $3500, and lease pmt is $704. I maybe could have gotten a bigger discount, but I needed a car (my lexus was totalled) and they had the color and options I wanted, and it was month end. I do not knw if the residuals and money rates apply to the base modelss, but I would think so.
Could someone please look at these numbers? I’m looking to lease a Q7. Based on the June numbers above, here’s what I’m coming up with (assuming that I am able to negotiate invoice as selling price)
If these are correct. Would I be better off waiting for the ’08? These numbers looking kinda bad to me
Also, would I have any sales tax advantage negotiating a trade in with the Audi dealer vs. leasing outright? I prefer clean deals and can always get rid of the other car on my own
Thanks in advance. You guys are always so helpful!
What should I expect from my dealer regarding a lease on a pre-driven "factory executive car"? Do they offer any lease incentives? I am considering a Q7 3.6 Premium w/ s line. MSRP was $58,300. The vehicle has almost 8k miles on it and Edmunds is calculating invoice at $53,800. (It carries the Audi certified warranty) What is a fair selling price for this vehicle? (Dealer is asking 52k) Thanks!
Also, keep in mind that those factory exec cars are driven pretty hard. The sales people pound on them and the customers that get them as loaner cars pound on them.
I personally wouldn't touch that car for more than $47k and then only if it included the CPO warranty on top of the factory warranty.
araskin - - did you ever find the residual percentage for 10k miles? I was wonder the same thing. Hopefully that residual moves up a little. Only thing on this website quotes 12k miles at 52%.
Here's the info that you're looking for, araskin. Through July 31st, Audi Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2007 Audi Q7 3.6 Premium with 10,000 miles per year are .00014 and 52%, respectively.
Hi sb07. I can give you an idea of what this truck's lease program is like right now and if you provide me with its MSRP and approximate selling price I would be happy to use it to estimate what your monthly payment should be for you. Through July 31st, Audi Financial Services' buy rate lease money factor and residual value for a 24 month lease of a 2007 Q7 3.6 Premium with 15,000 miles per year are .00014 and 57%, respectively. The numbers for an otherwise identical 36 month lease are .00014 and 49%.
Hi tke822. The problem that I personally have with demo vehicles is that dealers never seem to be willing to provide enough of an additional discount on them for me to justify purchasing or leasing one over an otherwise identical brand new vehicle. I personally would want a selling price that at least $2,000, probably more, below what it would cost to purchase a brand new Q7 to convince me to go with a demo that has 8,000 miles on it.
No I never did. The funny thing was that when I went into the dealer to sign the lease they wrote up the lease as a 12K/year even though we negotiated it as a 10K. I did the right thing and pointed it out to the dealer but he said 'not to worry about it'. So I now have signed up my Q7 as a 12K/year... should give me plenty of breathing room. I have had my Q7 for about a week now and so far I couldnt be happier...
Thanks for the info on the Q7 lease numbers! If you happen to be around the Infiniti forum, I posted a question regarding IFS July numbers for the '08 QX56. I'd appreciate it if you could head over ther to get me those numbers. I'm hoping to make a decision this weekend and go lease either a Q7 or a QX56.
Thanks!
Jose
P.S. To everyone else, PLEASE no comments bashing either car. This is the lease questions thread. :P
Wow... Audi has really low residual values across the board. Any idea why that is? Others (BMW and Infiniti) are in the 70% range for 24 months. Audi's at:
57% for the Q7 (24 mos, 15k) 54% for the A4 (24 mos, 12k) 56% for the A3 (24 mos, 15k)
I guess they have low Money Factors, but that usually isn't as significant a factor...
What do you guys think? Is it just tough to lease an Audi? Or are this just due to the upcoming 2008 lineup?
Can someone look this over and tell me if it's a good deal? I'll be taking a test drive tomorrow afternoon, and will most likely get it. This seems like an incredible deal compared with what I was getting quoted last year.
Audi 3.6 Premium. Silver w/ black interior. Panorama Sunroof, 3rd Row Seat, 19" wheels. The MSRP is $50,015 and because I am using the special finance and lease rates the selling price is $46,631 plus tax, license and dealer fees.
On a 36 month lease at 12k miles per year with $1120 drive offs you have a payment of $641.39 plus tax. The residual value is 26007.86 and it does include the Audi Care scheduled maintenace program.
YOu are right. I dont know if its the money factor, residuals or both but the repayments are so low compared to BMW and Merc Bens. I love my Q7 and I got such a good price for it compared to the other brands.
You should double check with your dealer as I dont think your numbers are accurate. The residuals have changed on the 3.6P and the $4,000 Ad money is only good if you don't use Audi financial. You dont get both. I have been looking really hard and then the good residual on the 36 changed to 50 from 53.
Let me know if I am wrong but i dont think i am. I have been dealing with audi MV in cali.
you might be right. I didn't include the bottom part of his email where he quotes me prices for an actual purchase.
I probably won't be buying it today. I was originally going to this dealer near my inlaws, which is where my appointment is at, but I found out last night that they made a quick trip to vegas.
This will give me another week to think about it.
I haven't had a car payment in 3 years. That's pretty much what is holding me back. :confuse:
Hi orangebang. The Q7 that you described probably has a spread of a little over $3,800 between its full MSRP and its dealer invoice price. The $3,384 discount that you are being given probably puts you at around $500 over dealer invoice, which is a very good price for a Q7 that is leased through Audi Financial Services right now. Just make sure that the dealer that you are working with uses Audi Financial Services' current buy rate lease money factor of .00014 to calculate your monthly payment and you're all set.
Greetings jasonrhcastle. If you are in an area that has a decent level of competition, there is a decent chance that you will be able to negotiate a larger discount than $1,200 on the Q7 that you are interested in. I personally would shoot for $1,000 to $1,500 over invoice, which probably amounts to a discount of $2,800 to $3,300. Make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Audi Q7: Prices Paid & Buying Experience".
When you arrive at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using Audi Financial Services' current buy rate lease money factor of .00014.
Hey Guy's I really Enjoy reading this forum. CarMan you are awsome! Can you please take a look at the numbers below and let me know what you think. I would be getting 2 of these Q7's for my company. Thanks
MSRP $60865 Invoice $56795 Sale Price $56995
36 Month Lease 10k per year milage. $2k down $760/mo plus tax = $823
You pay $400 each for trucking.
Q7 3.6 Mugello Blue - S-Line with 21" -Towing package -Panorama roof -Rear side airbags -6 seat configuration -4 zone climate control -Convenience package -Technology package -Infotainment package
Thanks for all your help with MF and residuals! I ended up ordering an '08 Q7 as there were no 07's with the options I want. It is scheduled for delivery at the end of September or begining of October. So, I'm gonna request your help again with numbers in a couple of months
I appreciate you listing the MF and LEV%. My question is what if the dealer is unwilling to reduce the MF from 0.00054 to 0.00014? I have one dealer quoting a MF of 0.00094. Am I correct is stating that I am being taken to the bank?
I have two quotes as below - which one should I take? Both are 3.6 Premium models with identical options. Should I walk away from both dealers?
MSRP 55403 55403 Discount 4107 2000 Term 36/10000 36/10000 Payment 671.54 680.00 Amt Due 3526.34 6696.45 MF 0.00054 0.00094 LEV% 53% 46% LEV 29420 25122
I'm new at this leasing thing, so I appreciate your help.
I am not a host, but have learned a fair amount from this forum. Your numbers don't add up. I ran them through a lease calculator (www.leaseguide.com/calc.htm) and for the $4,107 discount, (assuming you pay 6% sales tax), the payment should be $586.11 including tax. The payment on the $2,000 discount car comes out to be $775.61.
So, in both cases, dealers are not giving you real numbers.
Lease Guide (leaseguide.com) has all the information you need to learn how leasing works. I suggest you go an read it.
But, in a few words, this is the skinny:
- MSRP (is set by the manufacturer) - Miles, Term, MF and LEV (are set by the finance company) - Sales tax (is set by the government)
All you have to negotiate is the price of the car and any money you want to put down to reduce your monthly payment (this is called the "cap cost reduction"). Once you have the price of the car negotiated, simply plug everything into the lease calculator mentioned above and your lease payment comes out. What you come up with should match your dealer's number or at least be very very close.
I strongly suggest that you buy the Lease Guide package (20 bucks). Also, if you have a laptop with an internet card, take it to the dealer with you! That way you can run YOUR numbers parallel to the dealer's.
Good luck!
Jose
P.S. Remember that cap cost reduction (money down) is money you would loose should your car ever get stolen or totaled. The consensus out there is to never give a down payment on a lease. Keep your cash!
Okay, so I am getting ready to order my Q7 tomorrow. Below are the options I want.
I am looking at leasing the following:
3.6 Premium Infotainment Tech 20 inch wheels iPod Convenience
MSRP: 52720
Sales Tax 6%
I am looking at 27 months and 36 month (would do 39 if favorable).
Would add the audicare on as well.
What are the specials (money incentives) on the remaining 07's currently? I know the MF is .00014. Residual on 27 and 36 months with AudiCare included?
I just ordered my Q7 last week. You won't be negotiating your deal when you place your order. All my dealer required was a $500 deposit (fully refundable).
You'll negotiate your deal when the car arrives and at the rates and residuals avilable at that time. Mine is set to arrive mid october.
By the way, the Q7's standard equipment and options were re-suffled for 2008. So, based on what you describe above, you might end up with a few things you don't want and a higher MSRP. You can check-out the changes here
Leased a Phantom Black/Limestone Gray 3.6 Premium for 36 months/12k yesterday, here are the details:
Options: Third Row seat 20' inch wheels Panorama Sunroof 4 way climate
MSRP $51710 Cap cost $44245 (got the $4000 below invoice deal) Residual %52(with audi care) MF .00084 (can't combine .00014 with the $4000 discount, but still a pretty good rate)
Drive off: $595 Bank fee $590 Audi care $581 First month $45 Doc fee $360 Registration Tire fee I think was $8 Total drive off $2179
That seems like a great deal that you got. Can you tell me how you were able to get the $4000 below invoice? Is this state specific? can you tell me what dealership/state this was in?
I don't think this is state specific, what I should have mentioned in the post is that this for model year 07. I guess since 08's are coming, dealers are trying to clear their lots. This was in San Jose, CA, Stevens Creek Audi. Their internet sales person is the best. Very professional and willing to work with you.
Thanks for the info arm_jan. I spoke with a dealership here in NJ and they are able to offer the 4000 discount but not able to give the same MF. The salesman told me that the only other bank they use is Chase and they aren't offering such a low money factor. Do you buy any chance know if your dealership used Chase? Thanks so much for all your help.
They used Audi Financial, the dealer told me that since the car has been on the lot for too long Audi authorized to use a lower rate, I wasn't sure if this is really the case.
Looking to lease a 2008 Q7 3.6 Premium dealer invoice of $54,546.- Dealer told me they sell the car for $500.-- over Dealer invoice. What are the residual and money factor used for a 2008 by Audi finance. Looking for 15.000 miles 36 month lease sign and drive. Only tax title first month.
I am suppose to pick my 2008 Q7 this week. Here are the numbers my dealer is giving me for my lease: Cap cost- $59,500 36 month lease 12000 miles a year money factor -- .00140 Residual -- 51% $912 PLUS TAX I really need your help with this as I am new at leasing . Really feel the 51% residual is low for a brand new 2008 . Please let me know if I am getting ripped off or how I could bargain .
Comments
Can anyone help me with the current June residual and MF rates for Q7 3.6 premium for 36 months w/ 12k?
Thanks!
Thanks
ody02tjk if you don't mind, can you share the deal you got?
It seem to me that no matter how much I discount a price to plug into lease calculators, I always end up with outrageous monthly payments. I'm wondering if I'm doing something wrong...
Thanks
Jose
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Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
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It makes the use of a cellular phone much safer and it makes the armrest look much nicer with covers over the cupholders instead of both cupholders being exposed.
Could someone please look at these numbers? I’m looking to lease a Q7. Based on the June numbers above, here’s what I’m coming up with (assuming that I am able to negotiate invoice as selling price)
3.6 Premium
- Convenience
- Infotainment
- Technology
- 3rd Row
- 20” wheels
- iPod integration
- Second-Row comfort
- Panorama
MSRP 58,620
Invoice 54,068
MF 0.00019 (0.456%)
Residual 52%
PAYMENT $671.23 + 40.27 (6% tax) = $711.50
4.2 Premium
- 20” wheels
- iPod integration
MSRP 60,990
Invoice 56,852
MF .00050 (1.2%)
Residual 47%
PAYMENT $825.73 + $49.54 (6% tax) = 875.27
If these are correct. Would I be better off waiting for the ’08? These numbers looking kinda bad to me
Also, would I have any sales tax advantage negotiating a trade in with the Audi dealer vs. leasing outright? I prefer clean deals and can always get rid of the other car on my own
Thanks in advance. You guys are always so helpful!
Jose
Does anyone have residuals/money factor, etc on a 3.6 Premium with 10K miles/year over 36 months?
I want to check that the dealer isnt padding the repayments.
Regards,
24-36 Month
$2,500 Down
Money Factor
Monthly Payments
Thank you
Thanks!
I personally wouldn't touch that car for more than $47k and then only if it included the CPO warranty on top of the factory warranty.
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
Car_man
Host
Prices Paid Forum
No I never did. The funny thing was that when I went into the dealer to sign the lease they wrote up the lease as a 12K/year even though we negotiated it as a 10K. I did the right thing and pointed it out to the dealer but he said 'not to worry about it'. So I now have signed up my Q7 as a 12K/year... should give me plenty of breathing room. I have had my Q7 for about a week now and so far I couldnt be happier...
Thanks for the info on the Q7 lease numbers! If you happen to be around the Infiniti forum, I posted a question regarding IFS July numbers for the '08 QX56. I'd appreciate it if you could head over ther to get me those numbers. I'm hoping to make a decision this weekend and go lease either a Q7 or a QX56.
Thanks!
Jose
P.S. To everyone else, PLEASE no comments bashing either car. This is the lease questions thread. :P
57% for the Q7 (24 mos, 15k)
54% for the A4 (24 mos, 12k)
56% for the A3 (24 mos, 15k)
I guess they have low Money Factors, but that usually isn't as significant a factor...
What do you guys think? Is it just tough to lease an Audi? Or are this just due to the upcoming 2008 lineup?
Audi 3.6 Premium. Silver w/ black interior. Panorama Sunroof, 3rd Row Seat, 19" wheels. The MSRP is $50,015 and because I am using the special finance and lease rates the selling price is $46,631 plus tax, license and dealer fees.
On a 36 month lease at 12k miles per year with $1120 drive offs you have a payment of $641.39 plus tax. The residual value is 26007.86 and it does include the Audi Care scheduled maintenace program.
You should double check with your dealer as I dont think your numbers are accurate. The residuals have changed on the 3.6P and the $4,000 Ad money is only good if you don't use Audi financial. You dont get both. I have been looking really hard and then the good residual on the 36 changed to 50 from 53.
Let me know if I am wrong but i dont think i am. I have been dealing with audi MV in cali.
I probably won't be buying it today. I was originally going to this dealer near my inlaws, which is where my appointment is at, but I found out last night that they made a quick trip to vegas.
This will give me another week to think about it.
I haven't had a car payment in 3 years. That's pretty much what is holding me back. :confuse:
3.6 Premium
Infotainment
Tech
20 inch wheels
iPod
Convenience
MSRP: 52720
Selling: 51500
Sales Tax 6%
I am looking at 27 months and 36 month (would do 39 if favorable).
Would add the audicare on as well.
Thanks...
Car_man
Host
Prices Paid Forum
When you arrive at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using Audi Financial Services' current buy rate lease money factor of .00014.
Car_man
Host
Prices Paid Forum
MSRP $60865
Invoice $56795
Sale Price $56995
36 Month Lease 10k per year milage.
$2k down
$760/mo plus tax = $823
You pay $400 each for trucking.
Q7 3.6 Mugello Blue
- S-Line with 21"
-Towing package
-Panorama roof
-Rear side airbags
-6 seat configuration
-4 zone climate control
-Convenience package
-Technology package
-Infotainment package
700 per month including tax. Good deal?
Panorama Sunroof
19" wheels
3rd row
Convenience Package
MF .00014
53% Residual
36 month lease at 10K year for $650 per month (which includes tax).
$1200 drive off + $675 deposit + $590 audicare.
The guy even took off the charge for the premium color.
It was a great deal, and I couldn't have been happier. I got the car I wanted with the options I wanted, at a very good price.
Thanks for all your help with MF and residuals! I ended up ordering an '08 Q7 as there were no 07's with the options I want. It is scheduled for delivery at the end of September or begining of October. So, I'm gonna request your help again with numbers in a couple of months
Thanks again!
Jose
I have two quotes as below - which one should I take? Both are 3.6 Premium models with identical options. Should I walk away from both dealers?
MSRP 55403 55403
Discount 4107 2000
Term 36/10000 36/10000
Payment 671.54 680.00
Amt Due 3526.34 6696.45
MF 0.00054 0.00094
LEV% 53% 46%
LEV 29420 25122
I'm new at this leasing thing, so I appreciate your help.
I am not a host, but have learned a fair amount from this forum. Your numbers don't add up. I ran them through a lease calculator (www.leaseguide.com/calc.htm) and for the $4,107 discount, (assuming you pay 6% sales tax), the payment should be $586.11 including tax. The payment on the $2,000 discount car comes out to be $775.61.
So, in both cases, dealers are not giving you real numbers.
Lease Guide (leaseguide.com) has all the information you need to learn how leasing works. I suggest you go an read it.
But, in a few words, this is the skinny:
- MSRP (is set by the manufacturer)
- Miles, Term, MF and LEV (are set by the finance company)
- Sales tax (is set by the government)
All you have to negotiate is the price of the car and any money you want to put down to reduce your monthly payment (this is called the "cap cost reduction"). Once you have the price of the car negotiated, simply plug everything into the lease calculator mentioned above and your lease payment comes out. What you come up with should match your dealer's number or at least be very very close.
I strongly suggest that you buy the Lease Guide package (20 bucks). Also, if you have a laptop with an internet card, take it to the dealer with you! That way you can run YOUR numbers parallel to the dealer's.
Good luck!
Jose
P.S. Remember that cap cost reduction (money down) is money you would loose should your car ever get stolen or totaled. The consensus out there is to never give a down payment on a lease. Keep your cash!
I am looking at leasing the following:
3.6 Premium
Infotainment
Tech
20 inch wheels
iPod
Convenience
MSRP: 52720
Sales Tax 6%
I am looking at 27 months and 36 month (would do 39 if favorable).
Would add the audicare on as well.
What are the specials (money incentives) on the remaining 07's currently? I know the MF is .00014. Residual on 27 and 36 months with AudiCare included?
Thanks....
I just ordered my Q7 last week. You won't be negotiating your deal when you place your order. All my dealer required was a $500 deposit (fully refundable).
You'll negotiate your deal when the car arrives and at the rates and residuals avilable at that time. Mine is set to arrive mid october.
By the way, the Q7's standard equipment and options were re-suffled for 2008. So, based on what you describe above, you might end up with a few things you don't want and a higher MSRP. You can check-out the changes here
Good luck!
- Audi Side Assist
- Adaptive Cruise Control
- 20" Wheels
MSRP: $64,075
Drive off: $4000
Money factor: 0.000395
Monthly Payment: $899 incl.tax
This is in California.
Thoughts? Where is the dealer working me?
Options:
Third Row seat
20' inch wheels
Panorama Sunroof
4 way climate
MSRP $51710
Cap cost $44245 (got the $4000 below invoice deal)
Residual %52(with audi care)
MF .00084 (can't combine .00014 with the $4000 discount, but still a pretty good rate)
Drive off:
$595 Bank fee
$590 Audi care
$581 First month
$45 Doc fee
$360 Registration
Tire fee I think was $8
Total drive off $2179
$581 a month (including 7.25 tax)
Any comments are welcome!
That seems like a great deal that you got. Can you tell me how you were able to get the $4000 below invoice? Is this state specific? can you tell me what dealership/state this was in?
Thanks.
Good luck in your search!
Looking to lease a 2008 Q7 3.6 Premium dealer invoice of $54,546.- Dealer told me they sell the car for $500.-- over Dealer invoice. What are the residual and money factor used for a 2008 by Audi finance. Looking for 15.000 miles 36 month lease sign and drive. Only tax title first month.
Thanks,
Marcel
Cap cost- $59,500
36 month lease
12000 miles a year
money factor -- .00140
Residual -- 51%
$912 PLUS TAX
I really need your help with this as I am new at leasing . Really feel the 51% residual is low for a brand new 2008 .
Please let me know if I am getting ripped off or how I could bargain .