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Hello! Just wanted to stop in and see how bad my deal was that I signed. Unfortunately all the “lease info” started to make sense after i bought the car and having a lot of doubt about my deal. Interested to see what’re the thoughts on my lease deal? I signed a lease on a:
2023 Audi Q5 S-Line 45 TFSI Premium Quattro:
MSRP: 51,905
Agreed Price: 48,121 (~7% off)
Cap Cost: 51,826.37
RV: 29,066.80 (56%)
MF: .00213
Term: 42month/12k
Monthly payment: 715
Down: 1700 (not really down payment, just the negative equity on my trade in that i paid off outright and then my first months payment )
Let me know of any other details you may need! Thanks in advance.
At 42 months with interest at over 5% you should have financed this thing if your credit allows it. Discount is pretty good, some brokers had these advertised at 10% off msrp.
Why ask strangers how the water is, if you’ve already jumped in.
I’ll never understand how people can complete such a large purchase while being financially in the dark. A vehicle is often the second largest purchase for people.
700 for Q5 looks like an awful deal to me. That MF has to be marked up. Do they have addons? Your sales person is probably shopping for new shoes as we speak.
Yea. Pretty upset about it. Don’t know how I ended up there when I def could’ve gotten it for way cheaper. I wish I pulled on a 36 month. Hoping at that marker they can pull it in for me
This was my other question why not 36. They probably thought they would lower your payment by amortizing the negative equity over a longer period. However you may end up paying for some unnecessary maintenance like tires, brakes, 40k miles service. You should have probably considered getting Audi care. Also you are paying high interest on your negative equity. You should have done some research here before signing that deal. Imho the payment for your Q5 should start with a 5.
Thanks! That at least makes me feel a little better. Been beating myself up about it.
For sure! Going to try and learn as much as I can and keep asking questions so I’m better prepared for when my wife’s lease is up next year. Appreciate your insight, Max_g.
Well, it is a costly 3.5 year lesson…next time value your trade separately too…for all we know it was at least break even or more if you had shopped to Vroom, CarMax, etc beforehand instead of a 2200+ loss. Rarely does anything good happen on post mortems of deals signed where person didn’t understand numbers/how to lease.
I really need to study this better. I keep thinking that for the same model, it matters what I would pay in total as I don’t plan on keeping the car after the lease term. But I can sort of see how this would not be able to differentiate value of lease between different models/brands…
