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Residual and MF numbers for 2018 Audi Q7?

markcav1markcav1 Member Posts: 34
edited January 2018 in Audi
Hi-

Can someone please provide me with the Residual and MF numbers on a 2018 Audi Q7 Prestige at 36 months and 12,000 miles per year.

Thank you and Happy New Year!
«1

Comments

  • kyfdxkyfdx Moderator Posts: 235,188
    markcav1 said:

    Hi-

    Can someone please provide me with the Residual and MF numbers on a 2018 Audi Q7 Prestige at 36 months and 12,000 miles per year.

    Thank you and Happy New Year!

    .00184 MF and 56% residual

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  • markcav1markcav1 Member Posts: 34
    Thank you so much. Happy New Year!
  • markcav1markcav1 Member Posts: 34
    Hi Michael- 

    Can you please give the Residual and MF figures for the Audi Q7 Prestige (36 @ 12,000) for Januar7 2018.. 

    Also- I had a salesman tell me the following regarding his dealership and the MF. Can you please give me your opinion on this:

    “I probably should have explained the MF a bit better so I apologize for that. All dealers mark up the MF by a margin set by the manufacturer. Usually with Audi that margin shouldn't exceed .00125 markup. Our company policy is .00100 markup. That is how we make money on leased vehicles. You would be getting .00050 markup. I'm just being honest with you about it. No dealer is going to lose money discounting a car and then not make any money on the finance side.”

    Thanks Michael—
  • MichaellMichaell Moderator Posts: 240,063
    markcav1 said:

    Hi Michael- 

    Can you please give the Residual and MF figures for the Audi Q7 Prestige (36 @ 12,000) for Januar7 2018.. 

    Also- I had a salesman tell me the following regarding his dealership and the MF. Can you please give me your opinion on this:

    “I probably should have explained the MF a bit better so I apologize for that. All dealers mark up the MF by a margin set by the manufacturer. Usually with Audi that margin shouldn't exceed .00125 markup. Our company policy is .00100 markup. That is how we make money on leased vehicles. You would be getting .00050 markup. I'm just being honest with you about it. No dealer is going to lose money discounting a car and then not make any money on the finance side.”

    Thanks Michael—

    .00187 and 55%

    "All dealers?" Um, no.

    Lots of folks lease Audi's with the base MF. Expand your search area; it only takes one to meet your numbers.

    That said, dealers are becoming more savvy on lease negotiations - you can either get a big discount in price but an inflated MF, or the base MF and a smaller discount.

    You'll have to run the numbers both ways, to see which results in the better deal.

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  • markcav1markcav1 Member Posts: 34
    Thank you Michael!
  • tx_oilmantx_oilman Member Posts: 3
    Looking at 2018 Audi Q7 Prestige. Dallas-Fort Worth area. Can you please provide current MF rates and residuals for 36 months and 48 months on a 10k/yr lease? TIA.
  • MichaellMichaell Moderator Posts: 240,063
    tx_oilman said:

    Looking at 2018 Audi Q7 Prestige. Dallas-Fort Worth area. Can you please provide current MF rates and residuals for 36 months and 48 months on a 10k/yr lease? TIA.

    36/10 - .00187 and 56%
    48/10 - .00249 and 49%

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  • socalkpksocalkpk Member Posts: 27
    Hi, could someone please provide the MF and Residual in Southern California for a 2018 Audi Q7 Premium 2.0? I'm looking for:

    12K miles / 36 months
    12K miles / 42 months

    THANK YOU!
  • kyfdxkyfdx Moderator Posts: 235,188
    socalkpk said:

    Hi, could someone please provide the MF and Residual in Southern California for a 2018 Audi Q7 Premium 2.0? I'm looking for:

    12K miles / 36 months
    12K miles / 42 months

    THANK YOU!

    Already asked and answered, here:
    https://forums.edmunds.com/discussion/comment/5447867#Comment_5447867

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  • cmrusnakcmrusnak Member Posts: 2
    Hi could someone please prove me with the MF and Residual for a 2018 Q7 Prestige with a 30 month / 20k miles - in Houston 77379? Thx
  • MichaellMichaell Moderator Posts: 240,063
    cmrusnak said:

    Hi could someone please prove me with the MF and Residual for a 2018 Q7 Prestige with a 30 month / 20k miles - in Houston 77379? Thx

    We don't have residuals for anything higher than 15,000 miles - you should check with your dealer on how the extra miles affect the residual.

    .00187 and 56% for 30/15
    $1000 loyalty

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  • cmrusnakcmrusnak Member Posts: 2
    Thanks- first-time lessor!
  • jitterboyjitterboy Member Posts: 3
    Hi, new to the forum and first time lessor - can you provide me the mf and residuals for a 2018 Audi q7 premium plus. Deal I currently have is below. This is for Boise

    10k miles - 36 month lease (Boise)

    6% off MSRP (feel like there is more to give on price)
    MSRP is $62,050; sale price is $58327
    Fees are $1,208
    59% residual
    0.00205 money factor (4.92% interest rate)

    Also, are the fees negotiable?
    $313 doc fee
    $895 acquisition fee

    finally, we are trading in a vehicle and have about $12 or $13k to apply against the lease. I read somewhere not to put in such a large down payment to reduce lease payments (you lose your down payment in the event the car is totaled). Any advice would be welcome - thank you!
  • kyfdxkyfdx Moderator Posts: 235,188
    jitterboy said:

    Hi, new to the forum and first time lessor - can you provide me the mf and residuals for a 2018 Audi q7 premium plus. Deal I currently have is below. This is for Boise

    10k miles - 36 month lease (Boise)

    6% off MSRP (feel like there is more to give on price)
    MSRP is $62,050; sale price is $58327
    Fees are $1,208
    59% residual
    0.00205 money factor (4.92% interest rate)

    Also, are the fees negotiable?
    $313 doc fee
    $895 acquisition fee

    finally, we are trading in a vehicle and have about $12 or $13k to apply against the lease. I read somewhere not to put in such a large down payment to reduce lease payments (you lose your down payment in the event the car is totaled). Any advice would be welcome - thank you!

    2.0?

    .00185 MF and 59% residual
    Looks like they've marked up your money factor a little.
    $895 AFS acquisition fee is fixed.
    You can negotiate a dealer's doc fee, but it's easier to just negotiate a little more off the price, to make up for it. Is the $313 all doc fee, or does that include the state fees (title/registration, etc)?
    6% off an Audi is usually pretty good.

    What is the quoted payment?
    Tax rate?

    No, I would have them cut you a check for the balance of your trade, after paying for first payment and dealer/DMV fees.

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  • jitterboyjitterboy Member Posts: 3
    Thank you. Yes, it is a 2.0 premium plus Q7
    Trade in is worth $12,675, so after subtracting out 1st month payment, cap cost reduction is $12,205
    Adjusted cap cost is $58,327 (selling price) + $1,208 (fees) - $12,205 = $47,330 (had them quote assuming trade in goes towards reducing cap cost)
    tax rate 6%
    Monthly payments - $469.87 (pre tax) and $498.06 (post tax) which is quite affordable for my wife but I take your point about having them just cut us a check

  • jitterboyjitterboy Member Posts: 3
    2 last questions, does the lease agreement cover gap insurance? Also, is audicare worth it and how much would it add to cost? Thank you again!
  • kyfdxkyfdx Moderator Posts: 235,188
    jitterboy said:

    2 last questions, does the lease agreement cover gap insurance? Also, is audicare worth it and how much would it add to cost? Thank you again!

    The lease includes GAP, but GAP won't protect your downpayment, only the payoff of the lease. So, in the case of making a big, big downpayment, GAP insurance has no value. If you make no CAP cost reduction, you are protected by GAP, in case a total insurance settlement doesn't cover the lease payoff.

    AudiCare is worth it. It's $959 on an Q7, but it increases the residual by 1%, effectively cutting the price by $620 to $339. $10/mo. to maintain an Audi is dirt cheap.

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  • kyfdxkyfdx Moderator Posts: 235,188
    jitterboy said:

    Thank you. Yes, it is a 2.0 premium plus Q7
    Trade in is worth $12,675, so after subtracting out 1st month payment, cap cost reduction is $12,205
    Adjusted cap cost is $58,327 (selling price) + $1,208 (fees) - $12,205 = $47,330 (had them quote assuming trade in goes towards reducing cap cost)
    tax rate 6%
    Monthly payments - $469.87 (pre tax) and $498.06 (post tax) which is quite affordable for my wife but I take your point about having them just cut us a check

    Put the money in the bank, and use it to supplement the payments, each month.

    Also, it will be a nice reminder of exactly how much you are spending to lease the Audi. ;)

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  • roxyj1812roxyj1812 Member Posts: 5
    1. Hello, may I please get MF & residual for a Q7 2.0 P+ in Portland,Oregon ? I'd like 7.5k miles as well as 10k miles

    2. Also do you think this is a good deal and somehow for 7500 miles
    MSRP : 56,650 Lease Price - $51,855 , Audi Care : $869 ., Sale Tax : 259.27 & Title/DMV Fee : $481. So total is $53464.27 . MF they mentioned is 0.00185 . Residual : $34546. But somehow they are saying if I put $4500 down - the payment will be $599.month. But based on my calculation it should be $555/month.

    3. What am I doing wrong here ?
    4. Also do we need Audi care in a lease ?
  • kyfdxkyfdx Moderator Posts: 235,188
    roxyj1812 said:

    1. Hello, may I please get MF & residual for a Q7 2.0 P+ in Portland,Oregon ? I'd like 7.5k miles as well as 10k miles

    2. Also do you think this is a good deal and somehow for 7500 miles
    MSRP : 56,650 Lease Price - $51,855 , Audi Care : $869 ., Sale Tax : 259.27 & Title/DMV Fee : $481. So total is $53464.27 . MF they mentioned is 0.00185 . Residual : $34546. But somehow they are saying if I put $4500 down - the payment will be $599.month. But based on my calculation it should be $555/month.

    3. What am I doing wrong here ?
    4. Also do we need Audi care in a lease ?

    Hi roxyj1812

    I think we already answered your question, here:
    https://forums.edmunds.com/discussion/comment/5463631/#Comment_5463631

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  • spartanpf9spartanpf9 Member Posts: 4
    Hi, could you please provide the MF and residual for 2018 Audi Q7 Premium Plus? 36 months, 10k miles in Illinois. 

    THANK YOU!
  • kyfdxkyfdx Moderator Posts: 235,188

    Hi, could you please provide the MF and residual for 2018 Audi Q7 Premium Plus? 36 months, 10k miles in Illinois. 

    THANK YOU!

    2.0 or 3.0?

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  • spartanpf9spartanpf9 Member Posts: 4
    3.0, approx msrp is 62,275. 
    Thank you
  • MichaellMichaell Moderator Posts: 240,063

    Hi, could you please provide the MF and residual for 2018 Audi Q7 Premium Plus? 36 months, 10k miles in Illinois. 

    THANK YOU!

    3.0, approx msrp is 62,275. 
    Thank you

    .00187 and 59%
    $1000 loyalty

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  • loumontejrloumontejr Member Posts: 14
    Hi - Thx for all the feedback and insights here. Can someone help me out with Residual and Money Factor on a Q7 2.0 T Premium Plus MSRP 57K 36 Mo/12K Mi in NJ?
  • MichaellMichaell Moderator Posts: 240,063

    Hi - Thx for all the feedback and insights here. Can someone help me out with Residual and Money Factor on a Q7 2.0 T Premium Plus MSRP 57K 36 Mo/12K Mi in NJ?

    .00197 and 57%
    $1000 loyalty

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  • confsd_lesseconfsd_lesse Member Posts: 3
    Hi, Can you please provide me MF and residual for Audi 2018 Q7 Prestige for 36 months for 10k and 12K miles. This is in North Carolina.

    I got the following from the dealer, but I am feeling, am being charged a lot. They are saying the MF is 0.00251.

    MSRP = 70,700
    Term = 36 months
    Miles = 12K
    Residual = 38,205
    doc fee = 598
    DMV = 104
    acq fee = 895
    down = $1000
    Monthly = 1119


    Thank you for you help.
  • confsd_lesseconfsd_lesse Member Posts: 3
    Its a Q7 3.0
  • MichaellMichaell Moderator Posts: 240,063

    Hi, Can you please provide me MF and residual for Audi 2018 Q7 Prestige for 36 months for 10k and 12K miles. This is in North Carolina.

    I got the following from the dealer, but I am feeling, am being charged a lot. They are saying the MF is 0.00251.

    MSRP = 70,700
    Term = 36 months
    Miles = 12K
    Residual = 38,205
    doc fee = 598
    DMV = 104
    acq fee = 895
    down = $1000
    Monthly = 1119


    Thank you for you help.

    Its a Q7 3.0

    .00201 and 54%, so your dealer is marking up the MF for extra profit.

    What is the negotiated selling price?

    The Q7 does not have all that great of a lease program to begin with; what the dealer is doing just makes it worse.

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  • confsd_lesseconfsd_lesse Member Posts: 3
    Michaell said:

    Hi, Can you please provide me MF and residual for Audi 2018 Q7 Prestige for 36 months for 10k and 12K miles. This is in North Carolina.

    I got the following from the dealer, but I am feeling, am being charged a lot. They are saying the MF is 0.00251.

    MSRP = 70,700
    Term = 36 months
    Miles = 12K
    Residual = 38,205
    doc fee = 598
    DMV = 104
    acq fee = 895
    down = $1000
    Monthly = 1119


    Thank you for you help.

    Its a Q7 3.0

    .00201 and 54%, so your dealer is marking up the MF for extra profit.

    What is the negotiated selling price?

    The Q7 does not have all that great of a lease program to begin with; what the dealer is doing just makes it worse.
    Negotiated price is 66,000
  • jayb11jayb11 Member Posts: 16
    Hi,
    Can you please provide MF and Residual for 2018 3.0T Prestige, 36 months with 12k And 15k? This is in Missouri.

    Thanks
  • kyfdxkyfdx Moderator Posts: 235,188
    jayb11 said:

    Hi,
    Can you please provide MF and Residual for 2018 3.0T Prestige, 36 months with 12k And 15k? This is in Missouri.

    Thanks

    36/15
    .00201 MF and 52% residual

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  • rkaregaranrkaregaran Member Posts: 6
    Hi, Can you please provide residual and MF for 2018 Audi Q7 2.0t Quattro Tiptronic?

    36/10
    36/12

    Thabks in advance,

    Reza
  • MichaellMichaell Moderator Posts: 240,063

    Hi, Can you please provide residual and MF for 2018 Audi Q7 2.0t Quattro Tiptronic?

    36/10
    36/12

    Thabks in advance,

    Reza

    What ZIP code?

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  • rkaregaranrkaregaran Member Posts: 6
    Michaell said:
    Hi, Can you please provide
    residual and MF for 2018 Audi Q7 2.0t Quattro Tiptronic?

    36/10
    36/12

    Thabks in advance,

    Reza
    What ZIP code?
    92123
  • MichaellMichaell Moderator Posts: 240,063


    Michaell said:

    Hi, Can you please provide
    residual and MF for 2018 Audi Q7 2.0t Quattro Tiptronic?

    36/10
    36/12

    Thabks in advance,

    Reza

    What ZIP code?

    92123

    .00197 and 58% / 57%

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  • socalguy7socalguy7 Member Posts: 3
    q7 premium plus 3.0 with vision MSRP 64,835 for $58,800 in santa ana. MF .00261, residual 36,955.95. $2,731 due on deliver. 12,000 miles. 36 months $929.90/mo.
    how is this deal? MF seems high.
  • MichaellMichaell Moderator Posts: 240,063
    socalguy7 said:

    q7 premium plus 3.0 with vision MSRP 64,835 for $58,800 in santa ana. MF .00261, residual 36,955.95. $2,731 due on deliver. 12,000 miles. 36 months $929.90/mo.
    how is this deal? MF seems high.

    Base MF is .00201, so yeah, MF is marked up.

    That is adding over $60/mo to the payment.

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  • socalguy7socalguy7 Member Posts: 3
    Michaell said:

    socalguy7 said:

    q7 premium plus 3.0 with vision MSRP 64,835 for $58,800 in santa ana. MF .00261, residual 36,955.95. $2,731 due on deliver. 12,000 miles. 36 months $929.90/mo.
    how is this deal? MF seems high.

    Base MF is .00201, so yeah, MF is marked up.

    That is adding over $60/mo to the payment.
    the base MF of 0.00201 is determined by the dealer or audi financial? they said i would get tier 1 credit.
  • MichaellMichaell Moderator Posts: 240,063
    socalguy7 said:


    Michaell said:

    socalguy7 said:

    q7 premium plus 3.0 with vision MSRP 64,835 for $58,800 in santa ana. MF .00261, residual 36,955.95. $2,731 due on deliver. 12,000 miles. 36 months $929.90/mo.
    how is this deal? MF seems high.

    Base MF is .00201, so yeah, MF is marked up.

    That is adding over $60/mo to the payment.
    the base MF of 0.00201 is determined by the dealer or audi financial? they said i would get tier 1 credit.
    Base MF is set by Audi Financial, and is for top tier credit.

    The markup is purely profit grabbing for the dealer.

    Tell them you won't make a deal unless you get the base MF.

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  • fjgrfjgr Member Posts: 12
    edited June 2018
    Thanks for your awesome work here @Michaell

    I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed?

    P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY.

    2018 Q7 Premium (2.0) base model
    3-year lease, 10k miles per year
    MSRP: $51,525
    Selling price: $47,250
    Residual: 59%
    Money factor: 0.00257
    Acquisition fee: $895
    Processing (doc) fee: $495
    Upfront charges: $555
    AudiCare: $869


  • kyfdxkyfdx Moderator Posts: 235,188
    fjgr said:

    Thanks for your awesome work here @Michaell

    I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed?

    P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY.

    2018 Q7 Premium (2.0) base model
    3-year lease, 10k miles per year
    MSRP: $51,525
    Selling price: $47,250
    Residual: 59%
    Money factor: 0.00257
    Acquisition fee: $895
    Processing (doc) fee: $495
    Upfront charges: $555
    AudiCare: $869


    .00197 MF and 59% residual, assuming the $869/mo is for AudiCare.
    The calculations are correct.

    I wouldn't assume that you don't qualify for top tier. Especially as a returning customer.
    Ask them if they are marking up the rate, or if the increase is because of your credit.
    To get a bump of .00060, you'd have to be Tier 4 (660-679 FICO)

    That money factor increase adds $50/mo. to the payment

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  • fjgrfjgr Member Posts: 12
    kyfdx said:

    fjgr said:

    Thanks for your awesome work here @Michaell

    I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed?

    P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY.

    2018 Q7 Premium (2.0) base model
    3-year lease, 10k miles per year
    MSRP: $51,525
    Selling price: $47,250
    Residual: 59%
    Money factor: 0.00257
    Acquisition fee: $895
    Processing (doc) fee: $495
    Upfront charges: $555
    AudiCare: $869


    .00197 MF and 59% residual, assuming the $869/mo is for AudiCare.
    The calculations are correct.

    I wouldn't assume that you don't qualify for top tier. Especially as a returning customer.
    Ask them if they are marking up the rate, or if the increase is because of your credit.
    To get a bump of .00060, you'd have to be Tier 4 (660-679 FICO)

    That money factor increase adds $50/mo. to the payment
    Thank you @kyfdx ! I will ask them whether I qualified for top tier. If it turns out the dealer did mark up the MF, would it be 'reasonable' to demand the Buy Rate even if I already negotiated 8.3% off MSRP?
  • kyfdxkyfdx Moderator Posts: 235,188
    fjgr said:

    kyfdx said:

    fjgr said:

    Thanks for your awesome work here @Michaell

    I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed?

    P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY.

    2018 Q7 Premium (2.0) base model
    3-year lease, 10k miles per year
    MSRP: $51,525
    Selling price: $47,250
    Residual: 59%
    Money factor: 0.00257
    Acquisition fee: $895
    Processing (doc) fee: $495
    Upfront charges: $555
    AudiCare: $869


    .00197 MF and 59% residual, assuming the $869/mo is for AudiCare.
    The calculations are correct.

    I wouldn't assume that you don't qualify for top tier. Especially as a returning customer.
    Ask them if they are marking up the rate, or if the increase is because of your credit.
    To get a bump of .00060, you'd have to be Tier 4 (660-679 FICO)

    That money factor increase adds $50/mo. to the payment
    Thank you @kyfdx ! I will ask them whether I qualified for top tier. If it turns out the dealer did mark up the MF, would it be 'reasonable' to demand the Buy Rate even if I already negotiated 8.3% off MSRP?
    Yes.. the lease program for this vehicle is not good.. you shouldn't have to pay extra finance charges to lease it.

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  • fjgrfjgr Member Posts: 12
    edited June 2018
    kyfdx said:

    fjgr said:

    kyfdx said:

    fjgr said:

    Thanks for your awesome work here @Michaell

    I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed?

    P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY.

    2018 Q7 Premium (2.0) base model
    3-year lease, 10k miles per year
    MSRP: $51,525
    Selling price: $47,250
    Residual: 59%
    Money factor: 0.00257
    Acquisition fee: $895
    Processing (doc) fee: $495
    Upfront charges: $555
    AudiCare: $869


    .00197 MF and 59% residual, assuming the $869/mo is for AudiCare.
    The calculations are correct.

    I wouldn't assume that you don't qualify for top tier. Especially as a returning customer.
    Ask them if they are marking up the rate, or if the increase is because of your credit.
    To get a bump of .00060, you'd have to be Tier 4 (660-679 FICO)

    That money factor increase adds $50/mo. to the payment
    Thank you @kyfdx ! I will ask them whether I qualified for top tier. If it turns out the dealer did mark up the MF, would it be 'reasonable' to demand the Buy Rate even if I already negotiated 8.3% off MSRP?
    Yes.. the lease program for this vehicle is not good.. you shouldn't have to pay extra finance charges to lease it.
    Dealer said they just 'assumed' I was Tier 1 when they quoted me .00257 MF, without running a credit check. I asked them run my credit today, and (according to the dealer) Audi Financial says I'm Tier 4. That seems very unlikely with my credit score and income... should I just take the dealer's word for that? Can I verify this somehow with Audi Financial directly?

    And if I'm really Tier 4, what is the MF Buy Rate for that? The dealer quoted me a MF of .00297 based on Tier 4.

    Thanks again for all your help!
  • MichaellMichaell Moderator Posts: 240,063
    fjgr said:

    kyfdx said:

    fjgr said:

    kyfdx said:

    fjgr said:

    Thanks for your awesome work here @Michaell

    I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed?

    P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY.

    2018 Q7 Premium (2.0) base model
    3-year lease, 10k miles per year
    MSRP: $51,525
    Selling price: $47,250
    Residual: 59%
    Money factor: 0.00257
    Acquisition fee: $895
    Processing (doc) fee: $495
    Upfront charges: $555
    AudiCare: $869


    .00197 MF and 59% residual, assuming the $869/mo is for AudiCare.
    The calculations are correct.

    I wouldn't assume that you don't qualify for top tier. Especially as a returning customer.
    Ask them if they are marking up the rate, or if the increase is because of your credit.
    To get a bump of .00060, you'd have to be Tier 4 (660-679 FICO)

    That money factor increase adds $50/mo. to the payment
    Thank you @kyfdx ! I will ask them whether I qualified for top tier. If it turns out the dealer did mark up the MF, would it be 'reasonable' to demand the Buy Rate even if I already negotiated 8.3% off MSRP?
    Yes.. the lease program for this vehicle is not good.. you shouldn't have to pay extra finance charges to lease it.
    Dealer said they just 'assumed' I was Tier 1 when they quoted me .00257 MF, without running a credit check. I asked them run my credit today, and (according to the dealer) Audi Financial says I'm Tier 4. That seems very unlikely with my credit score and income... should I just take the dealer's word for that? Can I verify this somehow with Audi Financial directly?

    And if I'm really Tier 4, what is the MF Buy Rate for that? The dealer quoted me a MF of .00297 based on Tier 4.

    Thanks again for all your help!
    Try another dealer, and see if you get the same answer.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • kyfdxkyfdx Moderator Posts: 235,188
    fjgr said:

    kyfdx said:

    fjgr said:

    kyfdx said:

    fjgr said:

    Thanks for your awesome work here @Michaell

    I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed?

    P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY.

    2018 Q7 Premium (2.0) base model
    3-year lease, 10k miles per year
    MSRP: $51,525
    Selling price: $47,250
    Residual: 59%
    Money factor: 0.00257
    Acquisition fee: $895
    Processing (doc) fee: $495
    Upfront charges: $555
    AudiCare: $869


    .00197 MF and 59% residual, assuming the $869/mo is for AudiCare.
    The calculations are correct.

    I wouldn't assume that you don't qualify for top tier. Especially as a returning customer.
    Ask them if they are marking up the rate, or if the increase is because of your credit.
    To get a bump of .00060, you'd have to be Tier 4 (660-679 FICO)

    That money factor increase adds $50/mo. to the payment
    Thank you @kyfdx ! I will ask them whether I qualified for top tier. If it turns out the dealer did mark up the MF, would it be 'reasonable' to demand the Buy Rate even if I already negotiated 8.3% off MSRP?
    Yes.. the lease program for this vehicle is not good.. you shouldn't have to pay extra finance charges to lease it.
    Dealer said they just 'assumed' I was Tier 1 when they quoted me .00257 MF, without running a credit check. I asked them run my credit today, and (according to the dealer) Audi Financial says I'm Tier 4. That seems very unlikely with my credit score and income... should I just take the dealer's word for that? Can I verify this somehow with Audi Financial directly?

    And if I'm really Tier 4, what is the MF Buy Rate for that? The dealer quoted me a MF of .00297 based on Tier 4.

    Thanks again for all your help!
    .00257 MF for Tier 4.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • fjgrfjgr Member Posts: 12
    kyfdx said:

    fjgr said:

    kyfdx said:

    fjgr said:

    kyfdx said:

    fjgr said:

    Thanks for your awesome work here @Michaell

    I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed?

    P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY.

    2018 Q7 Premium (2.0) base model
    3-year lease, 10k miles per year
    MSRP: $51,525
    Selling price: $47,250
    Residual: 59%
    Money factor: 0.00257
    Acquisition fee: $895
    Processing (doc) fee: $495
    Upfront charges: $555
    AudiCare: $869


    .00197 MF and 59% residual, assuming the $869/mo is for AudiCare.
    The calculations are correct.

    I wouldn't assume that you don't qualify for top tier. Especially as a returning customer.
    Ask them if they are marking up the rate, or if the increase is because of your credit.
    To get a bump of .00060, you'd have to be Tier 4 (660-679 FICO)

    That money factor increase adds $50/mo. to the payment
    Thank you @kyfdx ! I will ask them whether I qualified for top tier. If it turns out the dealer did mark up the MF, would it be 'reasonable' to demand the Buy Rate even if I already negotiated 8.3% off MSRP?
    Yes.. the lease program for this vehicle is not good.. you shouldn't have to pay extra finance charges to lease it.
    Dealer said they just 'assumed' I was Tier 1 when they quoted me .00257 MF, without running a credit check. I asked them run my credit today, and (according to the dealer) Audi Financial says I'm Tier 4. That seems very unlikely with my credit score and income... should I just take the dealer's word for that? Can I verify this somehow with Audi Financial directly?

    And if I'm really Tier 4, what is the MF Buy Rate for that? The dealer quoted me a MF of .00297 based on Tier 4.

    Thanks again for all your help!
    .00257 MF for Tier 4.
    Thanks! And for Tier 2/3?
  • kyfdxkyfdx Moderator Posts: 235,188
    fjgr said:

    kyfdx said:

    fjgr said:

    kyfdx said:

    fjgr said:

    kyfdx said:

    fjgr said:

    Thanks for your awesome work here @Michaell

    I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed?

    P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY.

    2018 Q7 Premium (2.0) base model
    3-year lease, 10k miles per year
    MSRP: $51,525
    Selling price: $47,250
    Residual: 59%
    Money factor: 0.00257
    Acquisition fee: $895
    Processing (doc) fee: $495
    Upfront charges: $555
    AudiCare: $869


    .00197 MF and 59% residual, assuming the $869/mo is for AudiCare.
    The calculations are correct.

    I wouldn't assume that you don't qualify for top tier. Especially as a returning customer.
    Ask them if they are marking up the rate, or if the increase is because of your credit.
    To get a bump of .00060, you'd have to be Tier 4 (660-679 FICO)

    That money factor increase adds $50/mo. to the payment
    Thank you @kyfdx ! I will ask them whether I qualified for top tier. If it turns out the dealer did mark up the MF, would it be 'reasonable' to demand the Buy Rate even if I already negotiated 8.3% off MSRP?
    Yes.. the lease program for this vehicle is not good.. you shouldn't have to pay extra finance charges to lease it.
    Dealer said they just 'assumed' I was Tier 1 when they quoted me .00257 MF, without running a credit check. I asked them run my credit today, and (according to the dealer) Audi Financial says I'm Tier 4. That seems very unlikely with my credit score and income... should I just take the dealer's word for that? Can I verify this somehow with Audi Financial directly?

    And if I'm really Tier 4, what is the MF Buy Rate for that? The dealer quoted me a MF of .00297 based on Tier 4.

    Thanks again for all your help!
    .00257 MF for Tier 4.
    Thanks! And for Tier 2/3?
    .00227 MF for Tier 3
    .00197 MF for Tier 2

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • fjgrfjgr Member Posts: 12
    edited June 2018
    kyfdx said:
    Thanks for your awesome work here @Michaell I got the following lease offer today, could you please help me with the MF and residual and let me know if anything else needs to be addressed? P.S. I'm a returning lease customer (this will be second lease) and have average credit, not top tier. Will be using my $1k incentive to reduce cap cost. State is KY. 2018 Q7 Premium (2.0) base model 3-year lease, 10k miles per year MSRP: $51,525 Selling price: $47,250 Residual: 59% Money factor: 0.00257 Acquisition fee: $895 Processing (doc) fee: $495 Upfront charges: $555 AudiCare: $869
    .00197 MF and 59% residual, assuming the $869/mo is for AudiCare. The calculations are correct. I wouldn't assume that you don't qualify for top tier. Especially as a returning customer. Ask them if they are marking up the rate, or if the increase is because of your credit. To get a bump of .00060, you'd have to be Tier 4 (660-679 FICO) That money factor increase adds $50/mo. to the payment
    Thank you @kyfdx ! I will ask them whether I qualified for top tier. If it turns out the dealer did mark up the MF, would it be 'reasonable' to demand the Buy Rate even if I already negotiated 8.3% off MSRP?
    Yes.. the lease program for this vehicle is not good.. you shouldn't have to pay extra finance charges to lease it.
    Dealer said they just 'assumed' I was Tier 1 when they quoted me .00257 MF, without running a credit check. I asked them run my credit today, and (according to the dealer) Audi Financial says I'm Tier 4. That seems very unlikely with my credit score and income... should I just take the dealer's word for that? Can I verify this somehow with Audi Financial directly? And if I'm really Tier 4, what is the MF Buy Rate for that? The dealer quoted me a MF of .00297 based on Tier 4. Thanks again for all your help!
    .00257 MF for Tier 4.
    Thanks! And for Tier 2/3?
    .00227 MF for Tier 3 .00197 MF for Tier 2
    Thanks! Is Tier 1 also .00197? I confronted the dealership and now I'm suddenly Tier 1.... :smile:
This discussion has been closed.