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Audi Q7, Car Leasing, Car Buying, SUV
#331 of 1080 Re: May Q7 Money Factors and Residuals [f1freak]
May 15, 2007 (8:29 am)
Two different dealers have told me that there have been no changes since 4/20/07. These are the numbers for that date:
The below is for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
Add 1% residual if you get AudiCare (which adds $590 to the cap cost).
2007 Audi Q7 3.6 Premium
24 Month – Residual 60% of MSRP – .00038 Base Rate
36 Month – Residual 51% of MSRP – .00038 Base Rate
#332 of 1080 How's this deal??? Please help...
May 16, 2007 (12:32 pm)
Here's my latest from my dealer. Does it look ok? Anything else I can push for? I'm new to this leae thing so still learning. Thanks.
'07 Q7 4.2 Premium
Selling price 59900
15k mls/yr + 5k in $.15 prepaid miles for a total of 20k miles (Yes, I do need all 20k/yr)
Residual % .45
Residual amount 28017
mileage adjustment 2250
adjusted residual 25767
base monthly 1076 + tax
#333 of 1080 Re: How's this deal??? Please help... [tmorefi]
May 16, 2007 (1:15 pm)
I'm not going to try and explain again why you shouldn't do the 20k -- it WOULD save you at least $400 at the end of the lease, but I can't explain it any better than I already did. And I guess taking my word for it is riskier than just forgetting about the $400...
Even discounting that, your monthly payment is EXTREMELY high.
First you're being robbed on the price. $2,360 under MSRP is highway robbery for a 2007 4.2 Premium at this point in the year. You should be getting pretty close to invoice, or even below it. They want to get rid of the car. I wouldn't offer a cent over $58k -- probably less.
Your residual also looks like at least they didn't add AudiCare -- ask them for it!
Your cap cost also looks strange (doing a reverse calculation) -- I'm assuming that you're on a very low drive-off (i.e., everything and their mother is being added to the cap cost).
#334 of 1080 Re: How's this deal??? Please help
May 16, 2007 (3:44 pm)
Ya, I'm not really getting the lower mileage thing. i talked it through a few times and given I am 90% sure I will not buy the car at the end (I never keep a car longer then 3 yrs), and will put 20k miles on it, it just makes sense to me this way.
Nevertheless, I will definitely work on the selling price to get at or below invoice. They did forget to put the Audi care into these numbers and I will be doing that. These are the drive off #'s right now. Which of them can/should I try to get them to scratch.
1 month's payment = 1165.46
doc fee = 45
acquisition fee = 575
upfront fees = 441
upfront taxes = 51.15
total initial payment = 2277
#335 of 1080 Re: How's this deal??? Please help [tmorefi]
May 16, 2007 (4:40 pm)
They can't scratch any of those, that wasn't my point;
If that's your total initial payment, the cap cost should be the price. However, if you run the numbers, they don't add up. Check yourself:
Use the following formula to calculate a lease payment (assuming you're paying all the fees upfront like you say above):
(Price – Residual Value) / Term = Depreciation
(Price + Residual Value) X Money Factor = Interest
Depreciation + Interest = Base Monthly Payment
Using the above, with the numbers you gave, the base monthly payment (i.e., before tax) is about $40 below the one you got quoted. Something doesn't add up.
#336 of 1080 Re: 1st time lease, nervous, please help / explain? [0audilicious0]
May 21, 2007 (7:28 am)
20k miles a year kills your residual. But the 10k down does sound quite high.
#337 of 1080 Q7 4.2 base lease money factors
May 22, 2007 (8:55 am)
These sure dropped on May 20th!
Down from 50% to 47%!
So much for a good deal on the 4.2 base.
#338 of 1080 Re: Q7 4.2 base lease money factors [aveghte]
May 22, 2007 (9:12 am)
You mean the residuals?
Yeah, we're at the end of model year, so the residuals are going to go down pretty quickly. You'll only get a good deal if you buy very close to or below invoice at this point...
#339 of 1080 Re: Q7 4.2 base lease money factors [hspder]
May 22, 2007 (12:48 pm)
I am confused - if you are talking residuals going down with the same money down, payments etc isn't that a good thing?? Lower residual makes it more attractive to purchase at the end of the lease.
#340 of 1080 Re: Q7 4.2 base lease money factors [mdiab]
by kyfdx@Edmunds HOST
May 22, 2007 (12:53 pm)
But.. it makes the payment higher.. If you just want to rent the car for the lease term, you want a high residual, all things being equal.