Deal Check: etron GT Prestige $1250/month in CA

Ask the Hackrs
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1

First time posting and leasing.

I am being offered the following deal on etron GT Prestige:
MSRP: $113,615

  • $7500 EV Credit
  • $10000 Audi incentive
  • 10% off MSRP

Monthly 24month/12k: $1300~/month with drive off $6280, Residual 67,xxx/ Rent Charge 11k
Monthly 36month/12k: $1250~/month with drive off $6180 Residual 59,xxx/ Rent Charge 15.5k

As I mentioned, I have never leased a car before so have a few basic questions. I can buy the car with cash as well but looking at leasing to see if $7500 EV credit would bring my overall cost down.

  • I have been told that I can buy off the lease anytime. Not sure how that process works in terms of closing cost etc but let’s say I buy it off after 3 months. Would I still be eligible for the full 7500 credit or will it be prorated?

  • Would I still be paying the Rent charge for the remaining 21/33 months? What about the interest amount?

  • I am also being offered to pay full 24/36 month lease as 1 payment which will bring down the MF. (54k/66k for 24/36). Is this something that you would recommend?

Thanks for reading, would appreciate your feedback.

2
  1. You can buy it out after it gets registered with AFS, typically within 30 days. $7500 is not prorated
  2. The rent charge for the remaining months go away, you’re not responsible for it
  3. if you’re buying it at the beginning, bringing down the MF is only a temporary advantage.
  4. you’ll be responsible for the tax on the remaining amount though, just an FYI.
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Thanks so much for the response and clarifying. forgot to mention that this is with VW Credit (at least thats what it says on the offer). Hoping that doesn’t make a difference.

So my overall cost after buy out will be around ~85k (after 10% off MSRP and 17.5k capitalization cost reduction) + taxes (~9%) ?

Thanks!

4

VW Credit/Audi Financial are one in the same

5

Just talked to the dealer. Not sure if he is misinformed. He told me that I would have to make remaining payments (35*1250 in case i buy out within a month) and I will pay the residual amt + taxes. That would take the overall cost of car to 110k-115k range , which is way above what I would pay if I buy with cash (113k-10% -10k =~ 100k).

Wanted to confirm with the experts here before I cancel the deal. The only reason I was looking at eTron GT was because the overall cost was coming around 85k+ taxes with extra 7.5k incentive for leasing.

6

Ask him for a copy of the lease contract. It will spell out what the early purchase price is. I’d be willing to bet he is misinformed.

1 Like
7

It is also likely that the person you talked to does not know what he is talking about.

3 Likes
8

Have you tried shopping around and aiming for a 15-20% off MSRP + the same incentives?

Why are you going with 12k miles? Have you run the numbers for 7.5k miles and paying the excess miles at the end of the lease?

Doing MSDs or 1Pay should both bring down the MF. But if you are doing an early/immediate buyout, MF shouldn’t matter much.

9

Thanks! Have shared the contract with you via pm

10

The best I have got is about 11.5% from a local dealer but the car has MSRP of 120k which is way above my budget. Was looking for a specific color + prestige which is not available in CA. Chose a different color with Prestige and no additional packages. The dealer has been firm on 10%. Not sure if 10k audi incentive will be available next month.

Thanks for the suggestion. No, I have not tried 7.5k miles. If I am buying out, would it matter?

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If the plan is to buyout immediately, I think you come out ahead by going with 7.5k miles, else you’re paying for the excess miles in the remaining payments for no reason (accounting for residual change).

12

If you’re buying it out immediately, the mileage picked is pretty much inconsequential.

13

Not really.

14

Are you sure the residuals aren’t flipped? Why does 24months have lower residual than 36months?

If so, buyout with 24months seem to be better by a few thousands.

You should ask for numbers for 7500 as well just to compare.

15

You are right. Fixed it.
Thanks for the suggestion, will check with 7500 as well!

16

Sorry for the noob question… How are you concluding that 24 month buyout is better than 36 month. I am heading to the dealer today and will ask for 7.5k month quote as well. Knowing how to compare the buyout between 24/7.5k and 24/12k would be helpful.

17

Op consider running it at 24/7500 and doing msds. Then take it to term before you buy it out. With all these incentives I’d personally want to see where used prices stabilize before owning. Yes it will cost you a few bucks more over the life of the vehicle but it’s worth the insurance/option to hand back the keys if it’s underwater.

Also at least in previous months the premium plus leases better.

18

What data points do you have to support this. Over 15% is not happening in this current market.

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If youre doing an immediate buyout in california, it makes almost no difference at all how many months or how many miles per year you do.

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Rent Charge is hefty on the etron this month