Audi Q3 Premium in Chicago - Lease

I am very interested in leasing the Q3 and I have never leased before. I was given the following by the dealer but feel like it’s a terrible deal.

MSRP 37,300
Selling Price: 36,916
Gov Fees: 172
Admin Fee: 221
Acq Fee: 795
Gross Cap Cost: 34,695
Residual: 23,504
Rebate: 0
Net Cap Cost: 36916
Cash Cap Reduction: 0
Money Down: 0

36 Monthly/12K miles payments of 530.86 (include 10% sales tax)

yes it’s a pretty awful deal.

what’s the money factor?

If i calculated it accurately it’s 0.0026

This is my first time leasing a car, what do you suggest?

oh that’s a mighty high MF.

I’m getting lower numbers on Edmunds does your credit score not qualify for their Tier 1 numbers?

What is the range for tier 1? I have over a 700

Edmunds folks are reporting MF of .0018 which is lower than yours (but still high)

Can you share that Edmunds
link? Also, I just looked it up it, says tier 1 scores are 600-800. Thanks

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And that discount is disgusting, I’ve seen at lease 10% off.

Ask for a bigger discount and lower MF. Tell them people are getting 10% off and MF below 0.02. That should save you a 100 easy. But have you looked at X3 leases (or GLE for that matter at this price)? Tell that to the salesman, and hopefully he will give you a better deal. The target for this should be maximum 400 payment with no down.

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I see Morton Grove Audi and International both have Q3 2.0T Premiums starting at 33,276 and 33,480 respectively.

Walk away from the first offer, don’t even bother negotiating down from there. Generally, I don’t. I negotiate up (if unaccepted initially) from my offer.

There’s a lot of good content re: lease negotiations archived in this forum. You just have to search.

Check out the advice in this thread, for example:

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Terrible for sure!

A reasonable sell price would be ~10% off

Straight away that is 100 less / month