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I was hoping someone could tell me the money factor and residual figures for a 2016 Audi S4 Premium Plus model, 12K/year.
I live in MA and was offered the following:
MSRP: 58,665
Selling price: 52,603
Taxes: 3,312
Doc fee, etc: 560
Balance: 56,474
I was quoted 704/mo for a 42/12K lease with 2K down (residual 55%, APR 2.9%).
Does that make sense? When I use the lease calculator I get a lower monthly payment, but I'm unsure as to what number I should use for the residual. Is it 58,665 * 0.55?
I live in MA and was offered the following:
MSRP: 58,665
Selling price: 52,603
Taxes: 3,312
Doc fee, etc: 560
Balance: 56,474
I was quoted 704/mo for a 42/12K lease with 2K down (residual 55%, APR 2.9%).
Does that make sense? When I use the lease calculator I get a lower monthly payment, but I'm unsure as to what number I should use for the residual. Is it 58,665 * 0.55?
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Answers
.00084 MF and 51% residual for 42/12.
So, which term are they quoting?
Also, I believe MA taxes the monthly payment, not the full price, so the tax quote won't really be applicable in a lease.
You'll have to straighten out those details on the quote, before you can check the calculations. Be sure ask for the adjusted CAP cost on the lease and the money factor.
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Monthly payment : 630 (tax included).
P.S.
No sales tax (the dealer claimed that was quoted only for the purpose of a straight sale).
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