Last post on Nov 28, 2013 at 6:52 AM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Audi Q7, Car Leasing, Car Buying, SUV
#758 of 1078 Re: Looking to lease a Q7 [trabd123]
May 13, 2009 (2:27 am)
Greetings trabd123. In order to determine whether you should purchase your A6, nice car BTW, at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your vehicle's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.
As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".
If your car's purchase option price is in line with or less than its current market value, which unfortunately is doubtful given the overinflated residual values that were available several years ago, you may want to buy it. If the price is too high, just walk away.
As far as the Q7 that you are considering leasing as a replacement goes, Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 Q7 Premium with 10,000 miles per year are .00015 and 45%, respectively.
Prices Paid: Buying & Leasing Experiences Forum
#759 of 1078 Re: May lease numbers [frommx5tomz3]
May 13, 2009 (2:51 am)
Hi frommx5tomz3. Here's the info that you're looking for. Audi Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 Q7 Premium with 15,000 miles per year are .00015 and 42%, respectively.
Audi is currently providing a $1,500 loyalty or $1,000 conquest incentive on leases of the '09 Q7. In addition to that, it is waiving the first month's payment on leases of this truck right now.
Prices Paid: Buying & Leasing Experiences Forum
#760 of 1078 Re: Looking to lease a Q7 [Car_man]
May 13, 2009 (5:24 am)
Thanks very much for your reply. I already spoke to the bank and the dealer and since the mileage on the car is only 17k, nobody wants to negotiate.
The residual value for my car is 26,5k but the purchase price on the Used Vehicle pricing site is around 26,3k (dealer retail) and 24,6k (private party). I guess both prices are almost inline with the car residual value but I'm just afraid that a year from now, major issues with the car could come up that will make regret buying it.
Audi A6 is a great car but I'm a 6'2" man so the in and out of the car operation was such a pain so I was avoid using it most of the time and use my wife's car instead.
The Q7 new purchase offer sounds attractive. 3k loyalty incentive, first two month payments, 4.9% finance for 60 months and around 3k below MSRP.
#761 of 1078 Pretty good offer to lease a Q7
May 18, 2009 (7:27 am)
Here is what we are considering. Please let me know your feedback on whether this is a good deal or not. It seems pretty aggressive.
2009 Q7 3.6 with Premium Plus Package and Panoramic Sunroof
MSRP = 52,825
Invoice = 49,642
Sales Price = 48,825
In addition, Deal is putting in $1500 of loyalty cash-back as cap cost reduction
Lease 36 months w/ 10K miles / year
Audi Maintenance Pkg included
Money Factor = .00015
Residual = 45%
First payment paid by Audi Financial
And, dealer is paying the last two lease payments on current car ($1200 total)
No out-of-pocket money for down payments, etc.
Monthly payment = $725 per month including local taxes
#762 of 1078 Re: Pretty good offer to lease a Q7 [gt97]
May 18, 2009 (8:02 am)
Sounds like an excellent and very aggressive deal. Below invoice deals are something that we don't experience up here in the Northeast.
The money factor is 0.0015 and not 0.00015 and it should make a big difference in the monthly payment.
Here's what I found based on your numbers:
MSRP = 52,825
Selling price = 48,825
Loyalty Incentive = 1,500
Residual Value = (52,825 * 45%) = 23,771.25
Leased portion = (47,325 - 23,771.25) = 23,553.75 /36 = 654.27
Money factor = (47,325 + 23,771.25) * 0.0015 (not 0.00015) = 106.65
Total monthly payment = $760.92
Taxes = ???
So I'm not sure why your payment is only $725 a month including taxes?
#763 of 1078 Re: Pretty good offer to lease a Q7 [trabd123]
May 18, 2009 (8:23 am)
The sales rep told me the money factor was .00015, which was a big drop from earlier this year. If you use that money factor, then it gets you to right around $725 per month, taxes included). I double-checked and it looks like those are the current money factors in place for Audi Financial. I have worked with this sales rep before and he has never done a bait and switch or anything shady. Thanks for your feedback.
#764 of 1078 Re: Pretty good offer to lease a Q7 [gt97]
May 18, 2009 (9:00 am)
I will verify the money factor again from the dealer and let you know. If it's 0.00015, then, my dealer is mistaken when he said that Audi Q7 doesn't have a good money factor in May.
#765 of 1078 Re: Pretty good offer to lease a Q7 [trabd123]
May 19, 2009 (2:46 pm)
I just saw that there is an Audi Conquest rebate program for the Q7 3.6 for $1,000 this month. As you can see in my previous post, the dealer is already including $1,500 rebate of Audi Loyalty cash since we own an A6.
The car we are replacing is a BMW X5, so will Audi let us combine the Loyalty and the Conquest rebates for a total of $2,500?
#766 of 1078 Audi Q7 3.0 Lease
Jun 06, 2009 (5:13 am)
Car_Man, do you know what the current MF, Residual (12K/yr) for the Q7 3.0 and 3.6 for a 3 year lease. Is a 48 month lease available, and if so is it worth it to lease for 4 years. Is the $1,000 conquest still available for new customers.