Just leased at 2023 Audi SQ5 Premium Plus. I think I got a pretty good deal given the market.
I had a 2019 Porsche Cayenne E-Hybrid lease that was up in mid-December. Buy-out was $57K and I was getting quotes of $61-63K at various Porsche dealerships and at CarMax.
Decided to give Audi a try since I saw they were doing some deals on Q5 and SQ5’s here in LA. Figured perhaps I could put a good deal together on a SQ5.
First off, they offered me $67K for my Cayenne, which was way more than anyone else was offering. I gladly took the offer and banked the $10K equity as check. I never put money down on any lease ever.
After a bunch of back and forth on the new car, here’s where I landed:
2023 Audi SQ5 Premium Plus
$71,400 MSRP
$4,000 discount
7,500 miles
36 months
.00198 MF
64% residual
Audi care - 3 years (plus 1% residual bump)
drive off of $2,700 (tax, license, bank fee)
$889 / month plus tax (I took the equity from my Porsche as a check and put that into the bank)
It’s possible I could have shopped their offer around gotten a bigger discount on the car, but they gave me way more money than anyone else was going to give me for my old car without playing games. The equity I got back was worth way more than any discount I could have gotten elsewhere.
Definitely not the kind of deals I used to get on Audi’s, but then again I didn’t get checks back when I would turn in leased cars either.
Subsidized rates & residuals for Q5 and SQ5 here in SoCal. Rest of their inventory’s leases are pretty terrible due to high MF and low residuals…$1,200+ for e-tron & Q7 and not even heavily optioned units…yikes!
First off, I’m not paying over $1k a month. Not sure where you live but your sales tax sounds outrageous.
Second, I got a check for $10K for a car I didn’t even own. Factoring that into the deal, I am paying $673 w/ tax per month. I wouldn’t have leased this car if I didn’t get that equity in my pocket.
Third, car market is still extremely shitty. Lack of supply in most parts of the country, greedy ass dealers asking over MSRP on a lot of models and interest rates that would have sounded crazy just 6 months ago. Leasing a car for 1% of MSRP / month these days is very difficult if not impossible. Just about every car I have leased in the past has been at or even below 1% for the record.
Lastly, if you can get a better deal, that’s great. Passing this info along to help others to get the same or better deal.
That doesn’t mean you didn’t get a good deal taking into account the trade, but the residual is calculated based solely on MSRP and isn’t affected by the discount. If what you meant is that you only see the benefit of the discount over the term of the lease as you pay less each month because your cap cost was less vs. getting a check for the entire equity amount that you can take to the bank today, that one’s true.
When I read your post again I think you are fine. Just note that if everyone was at max 63K for you car and they gave you 67K then effectively there was room for 8K discount on the SQ5.
Yeah, I don’t understand when people always jump to broker deals when that is not the cost to get the vehicle landed. Many of the offers are better than most, but that doesn’t mean they’re always the holy truth.
An additional ~4% off of MSRP is give or take $3k. Now deduct the shipping fees, the broker fee, and you’re not left with much. That’s not even considering the potential difference in dealer doc fees; that can be a ~$500+ swing alone.
