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Audi A3, Car Leasing, Sedan
#265 of 348 Looking at 2010 A3 TDI
Jul 04, 2010 (6:10 am)
I've got an '08 A3 2.0T with a lease that expires in mid-November. I've just spotted a 2010 A3 TDI Premium Plus with the convenience package, cold weather package, and Bose for $31543. Could you tell me the current residual rate and money factor for A3 TDIs for 3yr/36K leases? Is Audi running any customer loyalty program right now? Does Audi ever buy you out of an existing lease to get you into a new one, or should I expect to pay several month's worth of duplicate payments? Thanks for the help!
#266 of 348 Re: Looking at 2010 A3 TDI [westoftown]
Jul 07, 2010 (1:43 am)
I'd be happy to help you out, westoftown. According to the latest information that I have seen, Audi Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 A3 TDI Premium Plus with 12,000 miles per year are .00174 and 51%, respectively. That residual value is definitely right, but the money factor might be old and off slightly.
Audi is currently running a loyalty program on the 2010 A3. It is providing $1,000 on purchases and $500 on leases to current owners and lessees of its vehicles.
A number of manufacturers run official early lease termination programs from time to time. While it's possible that Audi has such a program right now, I have not heard anything about it if it does. Chances are that you will be better off waiting until the scheduled end of your lease to get something new.
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#267 of 348 Re: Looking at 2010 A3 TDI [Car_man]
Jul 09, 2010 (6:55 am)
I'm really curious about how Audi handles early lease termination when you pick up a new Audi lease. I'm about half way into an A3 lease through AFS. When I had the car in to the dealer for service, I was browsing the showroom. A sales person came up and told me that it's no problem to turn in a car early, as long as you sign a lease on another Audi. He made it sound as if there were no penalties. They simply evaluate the market value of your current car, do some calculations, and voila!-- "here's what we can do on a new lease." He also said the "sweet spot" for market valuation of your current car is likely around the two year old point. I didn't get the specifics from him, nor am I able to find any information about how this process works. Anybody know?
#268 of 348 Re: Looking at 2010 A3 TDI [nebatuga]
Jul 09, 2010 (7:04 am)
Check your lease for the residual. Then add up all your payments as if you put zero down. Check trade in values for your model and see if there is any equity. I doubt there is so you will be charged for the lease buyout. Have them run the numbers and don't forget you will lose the sales tax on the current a3 and be recharged for tax on the new one. Unless you are having problems with your current a3-- why even consider a swap unless you can save on the payments big time.
#269 of 348 Re: Looking at 2010 A3 TDI [jayrider]
Jul 09, 2010 (11:06 am)
How do you figure "equity," provided the three figures you reference in your post?
No problems with my A3. Really nice car. I like it just fine, but I haven't loved it (as I did previously leased A4s). I wouldn't have even considered trading, but the sales associate made it sound pretty easy. I figured if it's not too costly, I'd look into it. Obviously, I know that paying for the remaining payments (all 21 of them!) is too costly. But if there's no penalty for moving from one Audi lease to another, and you can roll into a new lease (or pay cash up front) a modest difference between whatever two values they use to determine a deal, then it might be worth considering. My suspicion is that it would be a pretty costly move, or more folks would do it.
#270 of 348 Re: Looking at 2010 A3 TDI [nebatuga]
Jul 09, 2010 (11:44 am)
With 21 payments left, you will be penalized. To figure equity look at the residual value and add what you owe in payments. Then compare with the trade in values on various sites. If the trade in price is more than what you owe, you have some equity. I don't think the dealer is that hot for your A3 but you never know. Would wait until just a few months are left -- then test the waters.
#271 of 348 2011 A3 quattro
Jul 13, 2010 (6:50 pm)
I am looking into buying a 2011 Audi A3 Quattro, with cold weather package and bluetooth in Colorado. I don't know if I am getting a good deal or not!
Price of Car: $33, 625 (same as invoice- but I haven't even seen the invoice, as the car is currently being shipped from Germany)
Monthly payment including 4.75% tax: $492 (15 k miles on 36 month lease)
Money factor: 0.00129
Residual: 57% 19,166
These were not included in the lease payment:
Acquisition fee: $625
Dealer fee: $399
Audi care: $790
They seem very reluctant to go down on the price- I think they will drop it to $33,000 because they were trying to charge for some fancy tires that I didn't want.
I don't know if they are reluctant because they don't import too many basic A3's or because this car is a new 2011, or because I am a woman!
I have excellent credit, so maybe I could bargain them down on the money factor, the residual value, or overall cost?!? Or should I just accept it and take it as is?
#272 of 348 Re: 2011 A3 quattro [caswil55]
Jul 14, 2010 (5:55 am)
What was the msrp ? The money factor and rv are set. You can negotiate the price of the car but if they are selling at invoice then that isn't bad. If you only need 12k miles per year the rv should improve by 2% to 59. The dealer fee seems high so I would ask for the Audicare to be included free to seal the deal.. Then sit on it awhile. Say you have other rides to evaluate. You could always offer to meet halfway on the $790 if you haven't found something else. A3's aren't the best leases but this one doesn't seem too bad -- 492 including taxes with 1800 down + first payment. You could save a bit by going with fwd. The awd system on the A3 is fwd biased anyway so it stays there except in hard acceleration. You will do fine in winter with fwd. Something to consider.
Aug 28, 2010 (5:57 am)
Do you happen to know the current residual value and money factor for 2011 TDI Premium and Premium Plus?
I'm also looking at a gently used 2010 TDI Premium w/ roughly 10K miles on it. Any idea why this car would be priced $500 over invoice for a brand new 2011, when it's a used 2010? Seems crazy.
#274 of 348 Re: 2011 A3 TDI [westoftown]
Aug 30, 2010 (1:55 am)
I certainly do, westoftown. Audi Financial Services' August buy rate lease money factor and residual value for a 36 month lease of a 2011 A3 TDI Premium with 15,000 miles per year are .00179 and 58%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical lease of an '11 A3 TDI Premium Plus are .00179 and 54%.
The used A3 that you're interested in sounds as though it is way too expensive. I generally find that people who try to sell low mileage used vehicles underestimate the significant depreciation that new vehicles experience the moment that they are driven off the lot. I wouldn't bother purchasing a used A3 unless it was significantly less expensive than a similar brand new one.
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