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Audi A8, Car Leasing, Sedan
#56 of 214 2007 S8 / 2005 A8L
Jan 07, 2007 (5:16 pm)
I always lease because of the huge deduction on my company or myself, personally. I can write off 100% of the payment, the insurance, the gas, etc. I do have several cars but always treat the Audi as my "business car".
That being said, I helped the dealership that sold me my A8L by selling another 40 cars to other friends of mine, albeit A4 Turbo's, A6's, and about another 8 or so A8L's and two A8-W12's, and only dealt with the Fleet/Internet manager. He got me the car fully loaded, except for only the solar sunroof, but threw in the Auto-Armor, the 4-year unlimited tire/wheel replacement package, one-year of prepaid OnStar, the $399 a year package, which was the last year that Audi included that on any Audi - and that saved me about $7.5k. Then he took $8k off the MSRP of the car. So after putting the $10k down, I sold the 48-month lease car as if I had financed it. I used to import European cars in the mid-1980's before all of that ended, so I am familiar with hundreds of Euro cars. I also entered the market when leasing was one year away. Now, I leverage that, keep low miles on the Audi, and get a lot of money back, because I never and WOULD NEVER turn a lease car back in. I usually do a 42-48 month lease, depending on the car, it's residual, etc. But my 2005 A8L had a residual, after 48 months, of almost $49k. So, I sold it two years early and pocketed between $13k and $14k. Never turn in your leased car and get rid of it early. A four year lease usually breaks even, if you purchased (leased) the car at a good price, at between 24-30 months. So, I walked away with that money and then got almost the same freebies, although this time the tire/wheel warranty is illegal to sell in CA, there is NO ONSTAR anymore which I hate, but he threw in the auto-armor, Lo-Jack, and XM Satellite Radio, and reduced the MSRP by $3.5k. Most people cannot get a penny off MSRP, but I got that because I send the dealership a lot of business, albeit not 40 cars in a year anymore, but at least 10-15 finances, cash purchases, and leases. I called Beverly Hills Porsche Audi just to confirm that I had a great deal, and they quoted me $5400 drive-off on a 48-month lease with payments of around $2450 w/tax. But that did not include XM, or the auto-armor, or free Lo-Jack. So, the payment would've most likely been at least $90 higher.
The car had a sticker of about $112995 without ANY satellite radio, I hate Sirius, and they all come with that, and it's total crap, so the car is already pre-wired for any kind of satellite radio, so he got me a new XM Radio, with 90 days free so I can continue my family plan. I have four cars with XM and a portable unit as well.
So, I know the car will hold much more of it's value than what they are estimating - which is basically slightly less than my 2005 A8L at close to $88k, with a residual close to $49k. They are saying that this car will only be worth in the low $40's in four years. But because 2009 brings about the new RS8 with the 604HP engine, making it 0-62 in about 3.5 seconds, I am willing to gamble.
Plus the A8 series is being completely re-designed for 2009. I will order a 2009 RS8, most likely closer to $160k, because of the ceramic brakes and other features they will start to offer in 2008 and 2009, and the re-design of the car, and I bet I will get close to $85k for my car in 18 months. Because it's going, and I ordered a unique S8 color and interior, and because the car is just plain gorgeous.
Hope that helps. Never turn in a lease and sell it early until the lease "break-even" point. This is the best time to sell a leased car and pay it off as if it is a finance. I have been doing this since the late 1980's, and I always get a good chunk of money back, even on BMW's, and especially on the BMW M cars, and Porsche 911's!
Jan 07, 2007 (9:44 pm)
Almost ready to lease an Audi A8L here in the Western burbs in Chicago. I already own an A6 - the wife loves it! I am wondering a few things. First off, this vehicle lists for $80,470 and includes the $4,400 Premium Package, the $1,900 19" wheel option, and the $550 Sorry-is Sat Radio. What kind of discount might I expect? And anyone know the residual and money factor for a 36 month lease? The guys at the dealer said the 36 month lease is the "sweet spot" these days and to expect the best money factor there. They also said that if I pay a $550 service fee, all scheduled maint. is covered. And finally, as a returning customer, there is supposedly some money factor discount?
I know I am asking for a lot, but this $50,000+ for a car is new territory for me. If it wasn't for the beauty and overall package of the A8L, I wouldn't even be doing this - the new A6 is just around the corner anyway.
Thanks in advance for your help.
#58 of 214 A8L (2006 or 2007)
Jan 07, 2007 (11:44 pm)
I know that I had the best deal in my 2005 A8L, the last year Audi covered everything, not just scheduled maintenance, and sold the tire/wheel package, and had OnStar, etc. But my car was almost $90k plus extra options. How can yours be so cheap? I had the 19" wheels, but I also had every option "except" the solar sunroof, plus the tire/wheel 48 month option, Auto-Armor, VERY IMPORTANT in sunny states, like CA, Lo-Jack, OnStar (paid for one year at $399.95), and an extra set of sports Dunlop 19" tires all for free. Plus an extra $7.5k discount off retail. My payment was only $940.03 (including 8.25% sales tax in CA) - $866 base on a 48 month lease and I sold it last month and got back almost $14k with a $10k down payment on the original lease.
This is actually a very cheap car because I had all the packages that were offered plus more than was ever shown on the sticker. I guess it was a better time and lower lease rate for the car. I hear know that you don't even get a real 19" or 20" wheel and tire, that they put that crappy Mercedes-type black wheel, which is smaller, and can't even register on the Tire Pressure System! How pathetic it's become so soon.
The car is great and I went back and leased a 48 month 2007 S8 which I love - but I got about $4k in free stuff and $3.5-4k off MSRP, and my drive-off was only $2500.
So I owe about $110k on the car and my first payment is about $2000 with tax on 02/01/07. I will dump it in about 16 months to get the new body style 2009 A8 and the new RS8 with the high-end Lambo engine in it for between 605-620HP.
I really can't help but this link came to my email.
Good luck. But get at least $10k off the car.
#59 of 214 $50K cars in general
Jan 07, 2007 (11:50 pm)
I am sorry but I did have my first 1983 Porsche 928S in 1983, and took delivery in late 1982 at seventeen. The MSRP was about $55k.
It was the fastest production car in the US at the time at 146mph.
My insurance was about $10.5k a year for the first year. So, I don't think of a car today at $150k or even $350k being expensive. If you do the math, I think my old 1983 928S would be a $400k+ car.
So, maybe you shouldn't stick with the low-end German stuff. I have had only about 550 cars since 1985, mostly about 490 Euro imports between 1984-1990. So, I am quite aware of the expense and insurance costs of these cars. I guess I just don't get it. Unless you pay $250k or more, why bitch about the car. If it breaks down, purchase another one and move one. I mean a decent house in LA is about $5MM! And that's a poor person's house in LA terms.
I guess what I am saying is just get up to speed on cost in this country. There is no longer a middle, or upper middle class. You are either poor, the last of the upper middle class, or rich and/or super-rich (being above $500MM or so).
It's sad but someone voted Bush President!
#60 of 214 Re: 2007 A8 Short Sport [berisky]
by Car_man HOST
Jan 10, 2007 (4:31 am)
Hi berisky. I can give you an idea of what this car's current lease program is like. You never mentioned how long you want to lease it for or what sort of mileage allowance you need, so for now I am going to assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Audi A8 short wheel base with 15,000 miles per year are .00130 and 46%, respectively.
Prices Paid Forum
#61 of 214 Re: 2007 A8 Short Sport [Car_man]
Jan 11, 2007 (7:33 pm)
Thanks for the info. With that residual, I will not be getting an Audi.
Jan 11, 2007 (8:11 pm)
The residual on my lease contract is around $65k after 4 years. Why is that bad?
#63 of 214 Re: A8L (2006 or 2007) [iamtheid]
Jan 12, 2007 (8:13 am)
Good luck. But get at least $10k off the car
I don't know where your buying your cars, but new A8's have between 4500-6000 markup depending on the options, and we don't work for free. At the end of the model year the factory puts money on the cars so, then and only then, is it possible to discount 10g's and not lose money.
#64 of 214 Re: A8L (2006 or 2007) [jpvwaudi]
Jan 12, 2007 (9:10 am)
I got that off of my 2005 A8L when the lease rates were better. Plus they also threw in the auto-armor, the tire/vehicle 4 year warranty, the VIN etching on all windows, and LoJack. But I did sell 40 other cars that year to clients through the same dealership. I only got off about $3k on the 2007 S8.
#65 of 214 Re: A8L (2006 or 2007) [iamtheid]
Jan 12, 2007 (2:11 pm)
Thats understandable then if you brought in that kind of business; I just wanted to make the point that the average buyer off the street isn't going to be able to save 10 grand on an 07 right now. How do you like the S8? IMHO, its the best car on the road for under 200 grand, and the B & O system is worth every penny......