Hi All,
First time poster – long-time reader. I’m making my first lease in the northern NJ area and would love to hear your opinions on a deal I recently received. I’m planning on adding Audi Care to add another 1% to the residual for $675. It seems to pay for itself. Thoughts on below?
MSRP - $60,995
Sales Price - $54,250 (11% off of MSRP)
Monthly Payment - $600 (After MSDs)
Term - 36 Months / 10,000 miles
Money Factor - .00166
MSDs - $5,400 (9 total - MAX allowed)
MF - (after MSDs) .00121 (APR - 2.9%)
Residual % - 60% (Prior to Audi Care)
Residual Value - $36,594
Cash Due at Signing - $9,523 (Total after Rebates)
First Payment - $600
Down Payment - $0
Security Deposits - $5,400
Total Tax - $1,772
Acquisition Fee - $895
Registration Fees - $406
Documentation Fee - $449
Leasehackr Score (FWIW) - 8.3
**Seems to be a “good not great” deal according to the calculator. But it’s by far the best I’ve heard after negotiating at 3 separate Audi dealerships.
Hey gc2a,
Apologies for the ignorance…I’m still new to this. You’re saying I should negotiate the Doc/Registration/Acquisition Fees? Since the rest of the DAS is Tax and should be non-negotiable?
It’s typically recommended to roll in every last penny into the MP and just pay the 1st MP at signing. That way you have a real clear idea of how much it’s costing per month, and additionally, if anything happens to the car, you won’t lose the extra cash you put down at signing. (For example, our brand new Jeep needed a new tranny, Jeep offered to reimburse us 2 MPs, which is more cash to us since we rolled it all in at signing!)
January is a bad month to lease and Audis lease horribly so I really dunno if your deal is so terrible considering all that.
Did you hit up Bell Audi? They were one of the better offers when I was recently looking into a Q7 lease for a friend
Thanks gc2a! I had read that you want to pay tax and other fees (acquisition, doc, registration) upfront so you don’t pay tax on those costs over the course of the lease. Is that not the case IYO? I guess you’re stating that there’s a risk that if the car is totaled you’ll lose all the upfront cash. (Minus MSDs – but still a risk there too)
It does seems Audi is difficult. But from what I’ve been reading this seem to be pretty good. According to the calculator on this site, it I don’t pay the upfront costs it should be approximately $660. Which was some of the numbers I was getting from dealers with a $4k upfront cost.
I’m working with Meadowlands Audi, Paul Miller Audi, and Town Audi.
That part about taxes is bogus. I’m a CPA and assure you the tax is the same whether paid upfront or throughout the lease. Definitely roll all the payments into the MP.
Regarding your deal, ya it’s hard to know. Over $700 for an SQ5 is about the going rate I suppose. Best bet may be to wait till the end of the month and see how aggressive they’d get.
From looking at Edmunds it seems like a 2018 is only 1 RV point lower but has a lower MF and $1500 in lease cash vs. $500 on a 2019. I think a 15% discount all in is still achievable. My deal was 17% but Season of Audi plus loyalty gave me $3,750 in incentives.
It probably varies by state, but I believe at least in California there are some lease inception fees that are untaxed if paid at signing, but become taxed when rolled into the monthly. And as mentioned they are subject to interest when capitalized.
The deal itself is a bit higher, but it’s a ‘19 and we’re now in January.
I’ve been struggling to find 2018s in the Tri-state area. I would definitely head in this direction if it was available. However, every dealer I talk to says they’re completely out of stock for 2018 SQ5s. I’m currently in the 11-12% range for discounts. But I’m still planning on playing dealerships off each other to try to get in the 13-15% range. At that point, I’m hoping they bite.
It has been difficult to get a “good” lease with Audi. I’ll keep pushing.
