My bad. This deal is pretty awful.
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Might just be worse than an XC40 recharge for $1,100.
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@Bluemkn57cars ok I have no idea how do the fancy quotes…
Definitely only stopped in since we brought the current car in to swap in winter tires finally. Did not plan on signing anything but was starting to sound ok after a while but gut was saying differently. Bought from these guys before so sort of trusted them since we like the service center… glad I came home and started researching.
Started and will read the leasing 101 articles, we aren’t dead set on leasing, just wasn’t sure between leasing or financing. The $74K was for Prestige, it was also an estimate, I think the sales manager said there is no price since it didn’t arrive on shore yet. The $69K was for a Premium Plus but had I think couple of options we didn’t want but was pretty close to what we saw on Audi’s website. We were getting quoted 8-10 months for ordering.
We only need 1 car, partner wanted an upgrade for a while, like the SQ5 still… mechanically still fine, needs new brakes and few other things that were quoted to be $4k-ish?
In this environment, you want to keep whatever car you have…unless there is a special situation.
Buy your 2016 SQ5 for 28K…maybe get an extended warranty, because German luxury cars are expensive to repair.
Wait out this market as long as you can comfortably.
Leasing, for the most part, makes little sense today. The advantage, which was always driven by low sales prices relative to MSRP/high residuals/low interest rates/incentives don’t exist anymore. I guess residuals and interest rates haven’t changed that much (or have they?), but the MSRP discounts and incentives have disappeared…and that’s where the bulk of the deals were created.
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Run away from this dealership.
Find an independent, trustworthy mechanic.
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Thanks everyone, I also didn’t know about Edmund’s forums for MF and RV. This is what I received for 36/12 for my zip.
.00177 MF
58% P+
55% Prestige
No lease incentives
Thankful I found this place, prob needed more sleep today. 
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Effective 1400/mo on an SQ5. Some dealers are really doing nasty things to the uninformed…
got a little nostalgic - I thought that deal was so average back then but looks pretty good now 
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The one thing I hope for coming out of this market is an appreciation for the dealers who didn’t go full predator mode during this challenging time.
Pigs get fat, Hogs get slaughtered.
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We saved another one!
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OP only owes ~3k.
Imho at this point, pay it off and enjoy no car payment until things normalize.
If a new car is an absolutely a must, at least leverage your equity into a purchase, possibly thru a broker who can order allocation at msrp or less.
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This. You’re gonna buy a car for over MSRP, or am I reading that wrong?
What’s wild is that this dealer STILL asked for 5k on top of the $25k equity.
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They’re absolutely absorbing a significant percentage of the OP’s equity in this proposal.
Im sure its not the first time this dealer does this either. Highway robbery tbh.
So many sharks, they might as well put it on Discovery.
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Did we ever get confirmation from OP that the dealer actually wanted $5k out of pocket + the $25k trade equity?
Cuz if not, it’s pretty good deal in this market for an Audi S-car.
But if the dealer was really pitching $30k down + 530/mo on a 3yr $70k lease, they should win some kind of Academy award for keeping a straight face. What is that, a 25% residual?
I mean, I knew a dude once that put $10k down on a $19k Acura Integra and still had a lease payment. Worst part was a few months later he totaled it and walked away empty handed and confused. It’s ok though. Several years later he paid $5k over sticker for a Pontiac Solstice.
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Of course that’s what the dealer was asking, they were going in for the kill on a completely uneducated buyer.
‘Pretty good’ doesn’t even begin to describe it 
~$650/mo with $0 DAS on a $74k Prestige wasn’t even possible pre-2021(in IL no less), in the current market it would be a complete unicorn.
Good lord this may be the single worst deal ever proposed.
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$30k down on a lease…
This is a hall of fame level of atrocious. I have seen bad deals posted on here but nothing like this.
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Lets perhaps break it down like this for you.
You owe $3000 on the current car.
They offer trade in on it. That is $28,000 - $3000 = $25,000 down payment (yikes).
Then, they still want $5,000 down.
To top it off, they want $531.33 monthly, for 3 years = 531.33 X 36 = $19,127.88.
The dealer is asking you to pay a total of $49,127.88 to lease this vehicle. You would have paid about 66% (49,127.88 / 74,000 X 100) of the cost of this vehicle by the end of the lease. It is not a good deal. You are better of financing it if you really want it.
All this before considering what the residual value is, the money factor etc.
This is probably SQ8 or Cayenne S money, if you acquire the lease at the end you would have paid roughly 95K for a 70K car.