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Audi Q7 Lease Questions

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  • tsinoytsinoy Member Posts: 24
    Hey newbie23, where are you getting this deal? can you provide dealership name and state? Thinking of getting an 08 MDX Tech+Ent and monthly payment run around the same as your quote. Would be interested to drive a Q7 than an MDX if difference is less than $50.
  • newbie23newbie23 Member Posts: 3
    nj, town motors
  • jcolvinjcolvin Member Posts: 1
    How does the current Audi lease deal look?:
    2008 Q7 3.6 premium, Downpayment- $2,999, Acquisition fee $575, Monthly $599, 36 months 10,000 miles, based on MSRP of $50,975. Purchase option at end $26,507.
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chulsoo. I just priced out a 2008 Audi Q7 3.6 Premium with the Panorama moon roof, 4-zone climate control, and the Convenience Package and I came up with a dealer invoice price of $50,157. A selling price of $50,500 is a very good deal. It's less than $500 over the invoice price that I came up with. I definitely would be comfortable with this selling price if I was in the market for this vehicle.

    Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 36 month lease of a 2008 Audi Q7 3.6 Premium with 10,000 miles per year are .00056 and 52%, respectively. At lease signing you will have to pay this vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 increment, AFS' $575 acquisition fee, and any required state taxes or fees. Audi Care pre-paid maintenance is an option. If you choose to purchase it, it will provide a 1% boost to your Q7's residual value helping to offset the cost.

    Audi is not currently offering any special financing rates on this model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey chulsoo. The money factor that you were quoted is too high. Audi Financial Services' current buy rate lease money factor for a 36 month lease of a non-Premium 2008 Q7 3.6 is only .00056. Make sure that the dealer that you are working with uses this factor to calculate your vehicle's monthly payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello barneycourt. Audi Financial Services' December buy rate lease money factor and residual value for a 36 month lease of a 2008 Audi Q7 4.2 Premium with 15,000 miles per year are .00121 and 48%, respectively. Audi Care would increase this residual value by 1%. I believe that the addition of the S-Line package does have a negative impact upon vehicles' residual values.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi copper. The Q7's lease program varies by trim level, term, and mileage allowance. I have provided info for a number of different combinations in my last couple of posts. Check them out, perhaps they contain the info that you're looking for. If not, let me know exactly what you are interested in and I will be happy to help you out.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings jcolvin. You never mentioned the selling price of the Q7 that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    For now I can tell you that in my opinion, $2,999 is way to much money to put down when leasing. I always advise consumers not to make any capitalized cost reduction on leased vehicles. Those who make one risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. Even though your monthly payment will be a little higher, you would be much better off going with a zero down lease.

    Car_man
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  • another_otheranother_other Member Posts: 8
    Hi all,

    I just wanted to share my experience with you all. I bought a pre-owned 2007 Audi Q7 in Beige color yesterday. Picked it up in a dealership in MD for 42,994 plus tax & title. It has 7000 miles on it. It has infotainment, convenience & heated packages on it. It also has the panorama sunroof. MSRP on this originally was 54,990.

    I know pre-owned has its own unique pricing which you can't erally compare to others, but figured I'd share my experience and get your thoughts.

    Thanks.
  • chulsoochulsoo Member Posts: 11
    Car_man - Thanks for responding. I did pick up my '08 3.2 Q7 two weeks ago (a day before month end).
    The negotiated price was $47,225 (on an MSRP of $53,875). Dealer went down from his $50,500 "line in the sand" after I got a competing quote from another dealer. He even threw in another $700 worth of goodies (rubber mats + free service on my other Audi) to get me to buy. I got a 10K/36mo lease at a monthly payment of $663 (which includes tax) $620 w/o tax. The MF he gave me was 0.00095, I wish I had known about the 0.00056 MF as I could have saved an additional $30/mo on my lease payment. But oh well! At delivery, I paid $1316 (which included the first month $663 + $575 acquisition fee + registration fees).
    Moral of the story - anything is possible. With the end of the month/quarter coming up, be prepared to deal, go in after doing your homework and you will walk away with an even better deal than I got. This forum has been great and has saved me a ton of money. Thanks everyone!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Q7, chulsoo. I'm glad that you found this forum so helpful. Thanks for taking the time to stop back and let us all know how everything turned out. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds,com to share your thoughts on your recent dealer experience with everyone. Enjoy your new ride :shades: .

    Car_man
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  • coppercopper Member Posts: 94
    Hi Chulsoo -

    You got a great deal! Was this for a Premium Q7? Seems like you got $2000 BELOW invoice?

    Thanks,
    Copper
  • chulsoochulsoo Member Posts: 11
    Yes Copper, The car was a '08 3.6 Premium with the following options:
    Panaroma Sunroof, 4-zone climate control & Convenience Package.
    The MSRP on the car is $53,875 with an invoice of $49,725 (per Edmunds) and $51,944 per dealer. At $47,225 this is about $2,500 below invoice.
  • mlevinemlevine Member Posts: 581
    Leased Q7 3.6 premium with sunroof option. Cap Cost 48,400 slightly high money factor 0.0008 for 12K/36mon. Money factor higher than 0.00056 but had them drop
    dealer fee 689. Total with tax 711.40 a month. Sounds like chulsoo got a great deal. The key is that one must enjoy the vehicle. Did purchase Audi care which I thought was a good deal.
  • anj2anj2 Member Posts: 4
    hi chulsoo, congrats on a great deal! if you don't me askng, which dealer in atlanta did you use?
  • chulsoochulsoo Member Posts: 11
    This was with Jim Ellis in Chamblee. Nalley Audi in Roswell was the competing dealer that was willing to beat this offer. I chose Jim Ellis because of my prior relationship and proximity to where I live. I would recommend either one because of the quality of sales people they had.
  • afm35afm35 Member Posts: 7
    From Miami, FL, wanted to clue everyone in on the deal I cut yesterday... 08 Q7 Premium with 20" wheels and conv. package. 53% residual with Audi care, MF .00076, MSRP $53425, got it @ 49040, invoice according to dealer paperwork includes destination charge of 775. This is for 36 mo. 10K /year.
  • coppercopper Member Posts: 94
    afm35 - what's the monthly figure?
  • afm35afm35 Member Posts: 7
    $667.72 + tax
  • coppercopper Member Posts: 94
    afm35 -

    What exactly did you have to pay upfront and what is your total monthly payment including tax?
  • afm35afm35 Member Posts: 7
    Copper here you go:
    $714.46 (7% tax), upfront fees were $1600 (includes first month, tax, title, fees, etc.. no security deposit I am already a Audi Finance customer) The total cap cost is $50205 (includes agreed price, Audi service and dealer fees).
    Hope that helps.
  • fenicep3fenicep3 Member Posts: 14
    I am considering leasing for the first time...How do I go about negotiating and what are the main factors to consider. What are the most important terms that I must familiarize myself with and how do I begin this process. Thank you very much..I am a lil lost with leasing...And I would appreciate all help, thank you
  • anj2anj2 Member Posts: 4
    hello, just wanted to let everyone know about the lease deal i got on '08 q7 3.6 premium with sunroof, convenience, 4zone climate, running boards and premium color. msrp 55,755, selling price 51,490, leased for 36 months, 12k miles, $1,400 inception fees, $751/mo. i also got cross bars and all weather floor mats in the deal.
  • vahnvahn Member Posts: 1
    I just leased a Q7. The MSRP was $48,025. I paid $4,000 drive off. (including all fees, taxes and first month payment.) 12K/36. Monthly came out to $600 including taxes. 50% residual. I dont really know the money factor. Does this sound like a good deal or a bad deal?
  • coppercopper Member Posts: 94
    50% - 52% ?? BMW is 62%.
  • ocautoseekerocautoseeker Member Posts: 425
    It's actually not that horrible, it's just very realistic. Plus, Audi is smart by using low money factors as oppossed to inflated residuals. It's more beneficial to the bank and/or the lessee at lease-end. If lessee likes the car and wants to purchase, the residual is likely very close to market value. If lesse returns, bank has the opportunity to recoup some of it's money or at least break even at auction or negotiate a buyout with the dealer.

    BMW's are great vehicles, no doubt, and they pretty much have the market cornered on leasing. The vehicles do retain their values well, but they're still high and banks take baths on lease returns all the time.

    It's a mysterious world how all the money moves around, but after the leasing debaucle of the 90's that almost bankrupted some companies, they're starting to figure things out and are not nearly as aggressive as they used to be.

    Like Ken Bragg says, "two out of three ain't bad in the leasing world."

    1. Low Cap Cost
    2. Low money factor
    3. High Residual
  • meyoungmeyoung Member Posts: 1
    Could you let me know the dealership who offered this deal? Was the lease through audi finance?

    thanks in advance!
  • chrism124chrism124 Member Posts: 134
    Car_man/host,

    Can you provide me with m.f. and residual for a 2008 Q7 both the 3.6 and 4.2 Premium models? The lease would be based on 2 or 3-years at 10k or 12k miles. I live in the Northeast area. Do you know if Audi has a 'sweet' spot for leasing? That is length and mileage that would be their best lease package.

    Thank you and Happy New Year's,
    Chris
  • pbelspbels Member Posts: 8
    Did ou ever get the answer to this?
  • chrism124chrism124 Member Posts: 134
    pbels, no I haven't received an answer as of yet. I believe Audi will be releasing their new rates this coming Friday. Perhaps I will receive an answer within the next few days.

    Regards,
    NHman
  • pbelspbels Member Posts: 8
    I will keep looking

    My car is ordered but will not be in until middle of Jan.

    Have not discussed financing with Finance MGR yet

    depending on rates I could flip from acquisition to lease

    Thanks for responding
  • chrism124chrism124 Member Posts: 134
    pbels, which model did you order? Did you compare it against other SUV's? The Q7 will be for my wife. She currently drives a Volvo XC90 V8. The lease will be up in 6 months and I would like our next vehicle to a bit more modern interior. The Q7 certainly has this but it is bigger (by another foot) over the XC90. Other considerations are the MDX (not sure I like the exterior styling) and X5.

    Regards,
    NHman
  • pbelspbels Member Posts: 8
    4.2 s-line

    I have the Lexus GX right now and it has been a great car

    X5 not a consideration as their are too many in the market
  • acscorpacscorp Member Posts: 5
    2008 Audi Q7 3.6 Base
    24 Month – Residual 57% of MSRP – .00033 Base Rate
    36 Month – Residual 49% of MSRP – .00033 Base Rate
    48 Month – Residual 40% of MSRP – .00329 Base Rate

    2008 Audi Q7 3.6 Premium
    24 Month – Residual 56% of MSRP – .00033 Base Rate
    36 Month – Residual 48% of MSRP – .00033 Base Rate
    48 Month – Residual 39% of MSRP – .00329 Base Rate

    2008 Audi Q7 4.2 Premium
    24 Month – Residual 55% of MSRP – .00085 Base Rate
    36 Month – Residual 47% of MSRP – .00085 Base Rate
    48 Month – Residual 38% of MSRP – .00329 Base Rate

    Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms

    Use the following formula to calculate a lease payment:

    (Cap Cost – Residual Value) / Term = Depreciation
    (Cap Cost + Residual Value) X Money Factor = Interest
    Depreciation + Interest = Base Monthly Payment

    NOTE: AFS lease data is for reference only. Rates may vary by region. Your dealer has the option of offering you a higher rate.
  • afm35afm35 Member Posts: 7
    Sorry, been on vacation... it was @ The Collection and through Audi Finance
  • pbelspbels Member Posts: 8
    I'm not certain that I understand the rate for the 4.2 24 and 36 month lease?

    Can you explain?
  • acscorpacscorp Member Posts: 5
    The rates (money factors) posted are the base or "buy" rates to the dealer. This is the lowest rate you can expect to receive from the dealer.

    These rates can be marked up by the dealer for additional profit.

    Does this help?

    -Tarry
  • pbelspbels Member Posts: 8
    It had more to do with the difference in money factor #'s for the 4.2 at 24 and 36 months

    Thank you
  • acscorpacscorp Member Posts: 5
    The rates on all models are the same for the 24 and 36 month terms.

    -Tarry
  • pbelspbels Member Posts: 8
    It didn't read that way in the grid

    Thank you for the clarification

    Peter
  • ocautoseekerocautoseeker Member Posts: 425
    Also, if you purchase Audi Care for approx $600, it bumps the residual an additional 1%. It's worth it, as it literally adds pennies to your payments.
  • sayuriq7sayuriq7 Member Posts: 1
    wondering if i am getting a good deal 42 month term lease... MSRP is 56,875 - cap cost 54,753 - residual 47% - money factor 0.00078. they are requesting 2,500 down, monthly payment including tax = 781.89

    This is an 08 Q7 3.6 Premium quattro with conv. package, navigation, 20" wheels, panoramic sunroof and towing package.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings fenicep3. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to negotiate a good deal on a leased vehicle is to shop around for the lowest possible selling price on the vehicle that you want. Once you have arrived at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using its buy rate lease money factor. Audi Financial Services' current buy rate for a 36 month lease of a base 2008 Audi Q7 is .00033.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new Q7, anj2. Thanks for taking the time to share the details of your deal with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new Q7 :shades: .

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey vahn. Do you know what your Q7's selling price was? Looking at it is a great way to evaluate your deal. Let me know and I'll tell you what I think.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chrism124. 36 months seems to be the "sweet spot" for Q7 leases this month. Audi Financial Services' new January buy rate lease money factor and residual value for a 24 month lease of a 2008 Q7 3.6 Premium with 12,000 miles per year are .00033 and 58%, respectively. The numbers for an otherwise identical 36 month lease are .00033 and 50%.

    AFS' current 24 month, 12k numbers for the '08 Q7 4.2 Premium are .00085 and 57%. The numbers for an otherwise identical 36 month lease are .00085 and 49%, respectively.

    If you were to lease either of these trucks with only 10,000 miles per year, its residual value would be 1% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings sayuriq7. The dealer invoice price of the 2008 Q7 that you described is $52,948. That puts the selling price that you were quoted at around $1,800 over dealer invoice. That's not terrible, but if you are in an area that has a decent level of competition, I would not be surprised if you were able to negotiate a lower selling price than this by comparison shopping with a few dealers. Make sure to stop by the "Audi Q7 Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar trucks lately.

    The money factor that you were quoted is slightly higher than the buy rate that I have seen for this model According to the latest information that I have seen, Audi Financial Services' buy rate lease money factor for this model is .00058. Make sure that the dealer that you decide to lease from uses this factor to calculate your monthly payment.

    Car_man
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  • ckm1515ckm1515 Member Posts: 52
    What is the max mark up that Audi is allowed? Coming from "BMW land", dealers are allowed to mark up the LRF by as much as .0004, which I'm sure you already know.
  • dcs99dcs99 Member Posts: 1
    Hi,
    I am new here. We recently signed a lease for Q7 but did not take delivery of car due to unforeseen circumstances. Are we still bound by the lease contract even though we haven't taken possession of car?

    Thanks!
  • yatzeeyatzee Member Posts: 7
    Hi,

    I am new here and am trying to figure out the Audi lease deal on their website for San Diego CA. My question is does this look like an amazing deal, for this to make sense in a lease calc the money factor must be .00104 for 36 month 10k miles and 51% Residual...am I right?

    2008 Audi Q7 3.6 Premium$599* lease per month for 36 months
    Now through March 4, 2008

    Down payment: $2,999
    Refundable security deposit: $600
    Acquisition fee: $575
    First month's payment: $599
    Amount due at lease inception: $4,773
    Excludes taxes, title and dealer fees

    *36-mo. closed-end lease offered to qualified customers by Audi Financial Services through participating dealers. Must take delivery by 3/4/2008. Rate based on $50,975 MSRP of 2008 Audi Q7 3.6 Premium with Quattro, Premium Package, Panorama Sunroof and destination charge. Purchase option at lease end for $25,997.

    Required dealer contribution could affect final negotiated transaction. Lessee responsible for insurance and may have some financial liability at lease end. Lessee responsible for $0.25/mile over 10,000 miles per year and a disposition fee of $350 due at lease end. See dealer for details. Refundable security deposit return subject to excess mileage and wear charges. For details, consult your Audi Financial Services contract.

    "Audi," "quattro," "Audi Q7" and the four rings emblem are registered trademarks of AUDI AG. ©2008 Audi of America, Inc.

    Thanks, Alex
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