MSRP was $120k and my deal was a single pay that works out to be ~$1,300/month, including a tax rate of 4.75% and 7,500 miles/yr. Interest rate was 1%, discount was 10%, and incentives were $12,500. I believe residual was 61%. I got suckered into the clear bra, tint, scratch/ding coverage, and Audi Care. Doesn’t seem like a great deal, but I couldn’t figure out how to get more money out of the deal. The finance manager was telling me that he was within $500 of negative depreciation, which would be a red flag for Audi Financial to approve the lease.
In Colorado, this would have been easy to avoid if you were able to get a larger discount. Just don’t have the CO incentive applied to the lease and claim it separately on your taxes. Voila, $5k more discount available before you hit negative depreciation (no guarantees they’d give it to you, but it would solve that issues at least)
Unfortunately the CO tax credit is not available if the MSRP is over $80k.
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Did you already sign?
A few things:
- The Premium Plus trim generally leases better
- $1,300 a month for this car doesn’t pass the smell test. Compare what RSs are leasing for, even if you have to go outside your market.
- The MF was probably marked up.
- The clear bra, tint and dent coverage are a waste of money, and they don’t residualize, so these alone probably added hundreds of dollars a month to your cost. Can you cancel these for a refund?
- Audi Care bumps the residual by 1%. But can you still cancel? You keep the residual bump but get a refund for the price you paid for AC. On my 24-month lease, the sum of the cost of both scheduled services at retail price will be less than what Audi Care cost.
- Max MSDs may have yielded a lower MF than a one-pay.
- To prevent negative depreciation and to stay within guidelines for the lease, the dealer could have separately written you a check (in any amount you negotiate) to make the deal more compelling.
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I did sign. In a strange way this makes me feel better. I knew it wasn’t the best deal possible, I see the numbers on this site and I was outside of that. But my main goal was not being a sucker. I really wanted that color combination, otherwise I would have scoured Denver and found the cheapest. My goal was to not be the guy that laughed at for being the knucklehead that paid way too much and they make budget on my foolishness. Based on your feedback, which is very helpful, it was going to take a sophistication and prowess that I’m probably ok admitting is not in me. The add ons were definitely a mistake, but it was 4 hours of negotiations and I was burned out. I caved in a moment of weakness. My rationale for the clear bra and scratch/dent coverage is that I don’t want to get penalized for cosmetic issues at the end of the lease (they included the wheel scratches as well). The Audi Care was almost a throw in since it bumped the residual by a point, I think it was $200 after the extra residual. So it sounds like with more energy and wherewithal there was additional savings, but that my deal wasn’t the worst either. Very helpful feedback, thank you!!
Mission accomplished then. Enjoy the car!
Asking after the fact = enjoy the car! It’s a fun ride.
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Enjoy your new car.
For future reference, there is no need to set foot into a dealership unless you are test driving a car or picking it up. You could have negotiated via phone and/or email. That’s what I have done for all the cars I have leased.
I couldn’t agree more. My last 4 cars have either been Tesla or Rivian and I forgot how terrible the dealership experience can be.
these variables don’t line up to a $1300/month payment on this car. also probably for the best that you onepaid it, so it’s not extendable.
Could have gotten an RS for much cheaper
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If I net out the add ons (tint, clear bra, and both care products) the effective monthly is $1,100, $0 DAS.