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Audi Q7 Lease Questions
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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
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.
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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.
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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.
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!
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You got a great deal! Was this for a Premium Q7? Seems like you got $2000 BELOW invoice?
Thanks,
Copper
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.
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.
What exactly did you have to pay upfront and what is your total monthly payment including tax?
$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.
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
thanks in advance!
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
Regards,
NHman
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
Regards,
NHman
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
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.
Can you explain?
These rates can be marked up by the dealer for additional profit.
Does this help?
-Tarry
Thank you
-Tarry
Thank you for the clarification
Peter
This is an 08 Q7 3.6 Premium quattro with conv. package, navigation, 20" wheels, panoramic sunroof and towing package.
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.
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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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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.
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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!
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