First time lease shopper here, I never thought I’d be looking at European cars since I’ve always been a Honda/Toyota owner, but here I am in the midst of super high interest rates shopping for a fun and less practical car to own for the first time in my life.
I live in CO, my county has auto sales tax of 8.75%. I’m trading in a 2023 Highlander Hybrid Platinum - yes I know I’ll probably be losing money, but rather drive something I love than being practical this time around.
This is offer after some negotiations for a 2023 Audi Q5 P+ seems just OK, I would like to know what I’m getting into before pursuing this offer. I’m also looking at the Prestige trim. I know that Audi’s money factor is super high right now. I don’t know how much room there is to negotiating this at signing?
Attached is the offer.
Thank all for any input for this newbie lease shopper.
No one here would touch that with a ten foot pole.
You need to realize you can’t fit square pegs into round holes.
At any given time there are only a handful of makes/models/trims that have good lease programs. Nothing else will lease well no matter how much you try.
If there’s something else outside that narrow category that you’ve fallen in love, you’ll have to buy/finance it.
Have you shopped the Highlander around to see if 49K can be beat?
Q5s now should be discounted at least 8% before the rebate…RVs aren’t spectacular in the high 50s and MFs are high in the 6% range…a lot of these units are starting to stack up on dealer lots so waiting a month or three might bring larger discounting…or better lease programs…I’d wait to see what September brings!
Yeah very high. Look at the broker deals and try to model a deal that you can present to dealers.
Also - at least where I am located - cars are starting to pile up. Hopefully this means more aggressive incentives from the factory and discounts from the dealer. Maybe consider some of the EV cars as well? For example - I had an offer for a Q8 etron sportback. 24/10. 10% off MSRP. Base MF is 0.00199 in some places. 9000 in incentives (lease cash + costco). Payment was like 960 with 1st month due at signing for a car with ~85K MSRP
This thing is already outdated. Do you really want to drive it for 42 months? Shop your highlander around. Unless you paid over MSRP I’d be surprised if your underwater (but maybe the market has changed).
And Q5 is not terrible this monrh with $4k cash, $1k Costco and 58% RV on 36/10. May still be not the best deal, but not bad either.
Edit: not talking about OPs deal
For a car in the Q5/X3 30i category a decent lease program should mean a decent discount (9-10%) yields a ~$500 plus tax kinda payment before any levers such as MSD, OL, etc.
Any program worse than that isn’t even worth talking about IMO because…
… these are actually rather basic cars.
Once you get past the badge and look rather objectively there’s nothing special about the engines or transmissions, or the plastics or upholstery or “wood” etc etc. And you’ll probably be shocked at how many options and features are missing from your Highlander.
There are some things that will look and feel better just because of how bad Honda is at certain things (NVH, for example) and Toyota with plastics and interior aesthetics. But that’s a low bar and even Kia and Hyundai’s nicer models blow them away at those things.
