I’m in the process of considering a lease deal for an Audi Q8 e-tron Prestige in Georgia and would greatly appreciate your input and expertise.
I tried putting it into the calculator but my numbers seem to be off and I’m not sure what I’m screwing up. I used one of the LH broker’s calculator for the same make/model/trim car so I have their RV preloaded. My guess is the MF is inflated, but, not sure how to validate that (still learning the ropes around here).
Are there specific questions I can/should be asking the dealer for?
First of all you can ask the dealer what Residual Value and Money Factor they are using. Also, the calculator you used as a template, was it from this month? Programs change from month to month (i.e. residual, money factor, rebates, etc.)
Not necessarily… 0 down and 0 due are two different things. A lot of people pay 1st month and fees at signing, especially if it’s a weird program with high MF but high residual or rebates, you wind up subjecting those upfronts to interest.
I wouldn’t say a DEAL is good or bad based on cash down, it’s just whether or not it’s advisable.
@EA_7, on the road most of today, give me a call or leave a text if I don’t answer with your username and I’ll either set you up with a deal or give you some advice on yours
I wouldn’t say this is necessarily a bad deal. Its not great and its not bad. To me, its a beautiful car but doesn’t warrant 900+ monthly. If you can get it to 850-875 on a prestige trim, then I’d do it. I haven’t checked this months MF, is that base rate? I remember last month was much lower.
Try to aim for at least 10% pre incentive. If you wait till end of month, you may be lucky with a desperate dealership at 11.5 to 12%.
As others have mentioned, hopefully you have Penfed, it does stack with Costco, adds another 750 + 1.5K on top of the other incentives.
The $15.5k in “rebates” already includes the Costco discount.
RE: PenFed, I could join the credit union, but I’m unsure if there’s a required membership duration for rebate eligibility.
@dloco - How can I verify the base MF? I suspect they might be inflating it for profit, despite the dealer’s claim of selling at a $5k+ loss, which is “unheard of”. However, the fact is they have 3x the inventory of Q8 e-trons in my city, and there are several multiple dealerships here.
I agree with the idea of aiming for a 10% pre-incentive discount; currently, they’re offering 7.5%. They also mentioned that they usually don’t do MSDs, which is a bummer since I’m trying to get payments to be sub $750/mo
Check with Edmunds, they will provide you the MF. Also, not every dealership does MSD so that is expected - also penfed requires 60 days - for a Q8 etron its only 750 so its not a “game changer” unlike the other cars which can be 2K.
Might shop around to push for a slightly more discount + base MF.
Could you share a breakdown of you rebates?
$7500 ev
$5000 national offer
$1500 costco
Sounds like you are not getting the $750 penfed? Are you returning an Audi lease?
@parkville , thanks for confirming the Base MF. As I suspected, they’ve inflated it a bit to limit their “loss”.
In terms of the actual rebates, that is still unclear to me. I’ve asked and got a less-than-straightforward response from the dealer. I’ve just asked again…
I suspect it’s a combo of a “private incentive”, loyalty, and equity in the Audi I’m returning ('21 Q5 PHEV premium plus s-line, which has a 37k payoff)
