Newbie here leasing my first car. Never owned or leased on before. I got this lease offer yesterday. My wife and I loved the car so I figure I’d post here to get an unbiased opinion.
Make/Model: 2024 Audi Q5e PHEV Premium Plus
Packages: Sports Plus, Black Optics
MSRP: $70,270
Selling Price: $64,270 (before EV rebate)
EV Rebate: $7,500
Residual: 55%
Money Factor: 0.002
Miles/Year: 12,000
Drive Off: $5000 (including DMV/Dealer fees, 1st month and down payment)
Monthly Payment including taxes: $817
Misc.: Price includes 3 year Audi care and Lease End protection
Dealer says he can’t guarantee this price though. Since the money factor might increase given I don’t have enough credit history. Been in this country for 10 years and I haven’t ever taken a loan. Credit Karma says 791 but apparently their system pulls in a lower number.
I’m pretty sure there are better deals on this car, but ask yourself this - Is a Q5e really worth 5k DAS and $817/month? If you think so, then at least try looking around SoCal since they have better deals usually. Lease end protection is a waste imo, but Audi Care usually is worth it because it increases the residual enough to offset the cost.
I’ll have to wait for @autopia ’s response. I reached out to them.
Lease end protection is something we definitely need given the terrains we drive in. Also my wife is a new driver and this will be the first car she’ll be driving.
So I feel like the extra 6000$ over 36 months is worth it given the following are included:
Audi Care
Lease End Protection
Sports Plus package
I haven’t been able find any on this forum in Southern California. Will try looking around a little bit more.
You should be targeting 10% off MSRP prior to the EV rebate, or $63,243. They’re being pigs and marking up the MF the most they can. That should be .0016. Keep the Audi Care, but dump lease end protection. If you’re targeting a total of $5000 down, they should get you into the $675/month range, which includes taxes. It is about $625/month pre-tax. That is a loaded premium plus model, but that’s the deal you need to target with your 36/10 lease. If they aren’t playing ball… hire a broker. Cheers.
Thanks a ton. I realized I didn’t add the mikes/year so edited my post.
I’m looking for 12,000 miles/year. So based on your input, if I apply that, I’m probably looking at $700 per month if I dump the lease end protection. Let me go ahead and try to negotiate.
Anytime. $644 pre-tax and about $692 with tax approximately, so yes very close. They legally have to provide you a copy of your credit score, so they could be selling you a bill of goods. If you have other forms of credit such as credit cards, etc, you should still have a strong score. You only need a 740+ for tier 1 with Audi.
My response here isn’t 100% comprehensive, but please keep in mind most auto lending uses “VantageScore 3.0” which is different than the FICO score that may appear on some other tools that you have access to.
While the two credit rating models are similar, the VantageScore 3 is typically used for automotive underwriting for a reason. It includes weighting for types of credit, available credit, usage of that credit.
Vantage Score may be lower than FICO if someone has never had any credit card, never had a personal line of credit, or never had a auto loan/lease. It seems you have 10 years of great habits, so you would be a great credit risk for say a bank on a home loan. But your Vantage Score 3.0 may be much lower for now because you haven’t actually proven your ability to juggle credit cards, a car loan, and all the other pitfalls that often trip people up when they take on auto financing.
I looked at the XC60 and the GLC 300. They wouldn’t budge on the price nor on the money factor. Both are using around 0.0035 money factor. They were quoting 1000$ with minimum drive off. Volvo came with free maintenance for 3 years but the MB one was with no maintenance. Honestly, Audi was the best deal I got amongst Lexus, BMW, Volvo, MB and Audi.
Q5e programs from the bank are really poor, which means it doesn’t really matter how much you negotiate with the dealer.
Your options are to (1) if you really want this car and this car only, lease it to capture incentives and immediately buy it out or (2) look for better values in the Marketplace
And by value don’t go by just payment/MSRP. Look for nuance and break down the stated/unstated assumptions. With a decent lease, you pay a slight premium over ownership for the benefit of being closer to the cutting edge of modernity, tech and design. Does that apply here? Ancient platforms like the Q5 which debuted all the way back in 2018 should really go for a lot less in any remotely rational world. And you’re paying a huge premium over ownership and in return the benefit you’re getting is…?
Any particular reason why you want the PHEV over ICE only? The premium on the PHEVs are like $10-15k over the ICE only, to get ~25 miles of electric-only range. $70k is SQ5 money and from my knowledge, only benefit for the PHEV is an optional air suspension – which I believe requires more than $70k.
I don’t know what the difference in numbers are for both vehicles in a lease, but the delta in MSRP quite a bit.
You should NEVER be asking a dealer pricing when you dont already know what the pricing should be. Just because a dealer gave you a ridiculous number doesnt mean that this is in any way representative of what those vehicles can actually be leased for.
Seriously, stop asking dealers how much they want you to pay.
That is some ridiculous price on a q5e
I’d suggest do some research here in marketplace section and check deals to see what others are paying for the same model
It’s always important to know what the car is worth for before going to a dealership. And do not listen to what dealers are quoting you, they will do whatever maximizes their profit. Bring an offer to them instead, if they won’t do it, move to next dealer. Sticking with certain color or package will limit your options to get a good deal , so ask yourself what’s more important to you? The pricing or the particular features?
