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Audi Q7, Car Leasing, Car Buying, SUV
Sep 24, 2008 (4:34 pm)
I am in the market for an Audi Q7 lease. I just got a quote for the following:
Cap Cost: 46K
Lease end value: 24,339 (assumes 51% Residual)
Total Inception Fees: $3500
Monthly Payment: $650
The dealer indicated to me that 2009 Lease rates are more favorable than 2008 models, but buying a 2008 model may actually lead to a better deal. I'm primarily interested in leasing. I was wondering if anyone out there has received similar quotes or even better ones.
Oct 11, 2008 (9:08 am)
I am in the market for an Audi Q7 3.6 Prestige lease. I went to a Socal dealer for the following quote:
2009 Q7, Prestige Package+Pana roof+Warm Pack
Lease-end buy price: 27460
Monthly Payment (plus Audi care): $750
Initial Down payment (include everything): $3500
Is that a good deal? Thanks!
#722 of 1080 Lease Transfer
Oct 14, 2008 (7:58 am)
I considering transferring the lease that I got (with help from the folks on here) in 9/07. I'm hoping that since I got a pretty good deal then, and Audi seems to have dropped lease support on the Q7, that the terms I have would be attractive to someone that wants a 2 year lease (17k/miles year available).
Anyways, come to find out that transferring a lease through Audi does not get you off the hook, so if the person I transfer to defaults or otherwise screws over the lease, I would still be liable. I saw an article on lease default protection that is basically an insurance policy in case this happens, but besides Swap A Lease dot com, I can't find anyone selling it (maybe I'm googling the wrong terms). Unfortunately with Swap A Lease you need to input the information for yourself and the person taking over the lease and such a person doesn't exist yet - I just want to find out how much it costs before deciding to move forward with this. Anyone have any experience with this and could tell me where I could buy this insurance and about how much it costs?
#723 of 1080 Re: Lease Transfer [woolooloo]
by kyfdx@Edmunds HOST
Oct 14, 2008 (8:00 am)
I would call or e-mail swapalease directly. I bet they can give you a ballpark figure... I've found them responsive to e-mails.
#724 of 1080 Re: [bobplus]
Oct 22, 2008 (12:06 pm)
What did you end up doing with the lease?
I have been offered the following deal:
Q7 Premium Plus
3.6 Premium plus
1250 out the door
682 or 735 includes tax
Does anyone have any deals to compare?
#725 of 1080 Re: [mrcr]
Oct 22, 2008 (2:04 pm)
I ended up with this deal:
3 year/15K miles, 3000 down, 769/mon (include tax and audi care)
The car is 58K, 3.6 L, prestigious option, plus sunroof and 20 wheel.
#726 of 1080 Re: Lease Transfer [kyfdx]
Oct 22, 2008 (3:11 pm)
Thanks kyfdx, I did call and speak with them yesterday. In case anyone is interested, here's what I found out. Their lease default protection works out to roughly a lease payment every six months, so since I have 2 years left on the lease, their policy would run about 4 monthly lease payments, roughly $2500 for me.
The problem is that while the policy would help cover the costs if the person who picks up the lease defaults, it would not help my credit if they make late payments and my credit score gets dinged by the late payments. I'm not sure if I want to take that risk with the economy as it is where even a good intentioned person with great credit could find themselves in a position where they couldn't make the payments.
They do offer another alternative. Basically, you find someone who wants to take the lease, they buy out the old lease, and re-lease it through one of their banking partners. That way the old lease is satisfied and I would no longer be on the hook. The problem there is the terms of the new lease are not that generous and I was told that basically the new person would have to take the vehicle with a 3 year lease that would be basically $900/mo, a heck of a lot worse than the $660/mo for 2 years that I was hoping to entice someone with. Plus it seems people could get that sort of deal right now on a new vehicle, so I don't think I want to spend the $500 they charge to advertise the vehicle for re-lease. I guess advantages of the re-lease are that you don't need a down payment and she said they would accept anyone with a credit score over 680 and I'm not sure what Audi's threshold is.
Anyways, not sure what I'm going to do. I'd like to get out of the lease but it looks like I'm stuck with it.
#727 of 1080 Re: Lease Transfer [woolooloo]
by kyfdx@Edmunds HOST
Oct 23, 2008 (6:48 am)
I feel for you.. It doesn't sound like you have any good options..
#728 of 1080 Re: Lease Transfer [kyfdx]
Oct 23, 2008 (7:25 am)
Thanks. I think one thing I learned is not to lease from Audi since they don't let you re-lease in a way that makes you not liable for the remainder of the lease. If you care about your credit, that basically means you cannot re-lease.
BMW and Mercedes do release you from obligation if you re-lease. If someone would like to find out about other lease companies, they can check the link below - however obviously terms may change so make sure you check the lease documents you actually have to sign rather than rely solely on that link. I for one will not lease from Audi again or any other company that has this rule.
#729 of 1080 Recently Offered Lease Deal
Oct 29, 2008 (5:19 pm)
Not going to post all the details but if your in the market for a Q7 I and your in the Chicagoland area I would seriously check out Continental. Here is a brief description of what I was offered.
2008 Q7 Premium
First and Plates Only - Drive Off
$709.00 per month