2022 Audi Q7 55 Premium Plus
MSRP: 70,515
Sales Price: 66,000
36/10k
Due on signing: 2400
Monthly: $1247 (including tax and audicare)
Residual for 36/10k is 56% ($39,488)
In Socal - Zip is 91401
Edmunds said MF is .00315 and Residual is 56% right now.
My alternative is to buy out my current lease - 2019 Audi Q7 55 Premium with only 18k miles. After taxes, audicare, extended warranty, new tires and 3.49% interest we are looking at $1257 per month also. Argument for this option is that I would have equity in the car after 3 years. So overall about $12k less in total cost over 3 years.
is this lease a good deal? which would you guys pick?
That MF (nearly 8%), the lack of incentives, and the low RV is making this deal a no go, IMO.
You have a few more options:
If you want another Q7, check out broker deals in the Marketplace.
If you are not married to this car, check out the Marketplace for other SUVs that might lease better.
Btw, when does your current lease expire? What is the buyout price before taxes and fees? Have you checked with an Audi dealer to see if you have any equity?
~$1,300/mo to rent a Q7 is insane to me. While the mf (I.e. interest rates) may not retract anytime soon…manufacturers will start issuing trunk money at some point. We are already seeing it in some areas and I would anticipate that the overall state of auto market will continue to decline.
It’s crazy that you’re even considering this lease as an option. Get an X5 and save yourself 400/mo. IMHO there’s a chance Audi lowers the Q7 MF in December. The discount you got is not that great, so I would definitely wait to see the December program.
Btw, when does your current lease expire? What is the buyout price before taxes and fees? Have you checked with an Audi dealer to see if you have any equity?
Lease is due Jan 13. Buyout price is $32,859. Audi dealer is washing me out of last month payment and a scratch on the hood. My car is a 2019 model even though I bought it early 2020 so it looks like a 4 year old car on paper. I have already gotten estimates from 3rd party sellers and they are giving me quotes ranging from $32,500-$38,500(carmax). And this assumes I would buy out car in cash and then sell it within 10 days (to avoid use tax).
I assume the financing the new one is also a no-go? 4.99% is lowest I’ve found for 72 mo (including my local credit union) so payments would be about the same. I’m worried I’ll be underwater on it for a long time.
I hope you are aware that Audi normally offers a 3 months pull ahead program if you lease or finance a new Audi. What will it cost you to fix the scratch?
One more reason I would not recommend buying it out.
Check out this thread for credit unions offering decent rates on new and used cars.
@Bluemkn57cars: One more reason I would not recommend buying it out.
Would you recommend I finance? If I finance it’s going to be underwater as well even at a low interest rate. Thanks for the interest rate link, looks like I could get down to 3.3% which isn’t too bad.
$1,300? Is that an actual quote from a decent shop, or a scare tactic from the dealership? If this is actually just a scratch, there is no way. Even the most reputable of shops aren’t charging $1,300 to spray a panel.
I looked at estimate again, I was wrong on number - actual estimate is $1,158.34. I took it in to the shop I’ve used before. I’m in Bay Area (norcal) so I feel like everything is inflated pricing.
Fyi, there are currently no Penfed incentives on the Q7 this month. You have to be a member for at least 60 days to be able to generate a certificate for additional savings on a lease or finance.
I am a current owner of 2019 Q8 Premium Plus. My lease was expiring on Jan 5 2023. I leased for 3/45.
My payoff was $45k in May 2022. I had 25k miles in june. I went ahead and bought out the Q8 in May.
Get 2.24% 72 month financing from my local CU.
Monthly payments $634 includes Tax plus payoff plus Gap. I already had Audi Care till 45k.
I did not bought any Extended warranty. Q8 is in Mint condition no issues. TIRES and brakes are still good at current 30k they will easily go till 40k…
My advice to you is forget the Extended warranty, keep the Tires till they last. You can easily sell it in a year or so when leases numbers come back to earth.
When I finance my Q8 the appraisal was $68k
In may 22… I think I paid $69k when I leased in 2019 with 15% discount…
F*** this car market lol. I just had an accident and I am praying it is not a total loss. Is that a good deal? I guess if you only compare it to deals you can get this year because 2 years ago this would be an hilariously bad deal. If you can afford to wait a bit - see what things look like in the near future as supply increases and demand drops
Don’t know if dealers are telling the truth or not, one of the dealers i had Q5 from them yesterday saying the supply is not going to be normal anytime soon. This shortage will continue few more years . He gave me almost 15% off MSRP($54,500) on 2022 Q5 45 S premium plus. I got it for 47k with %3.99 60 month finance.
