This CPO RSQ8 lease seems off to me by a good amount but I’m not sure where I’m getting sideways with it. Can anyone take a look and help me understand where this isn’t coming up favorable?
Just finance it.
I would NOT suggest an Audi after what misery I been through with RS6. I rather get X5M or GLE63 for way less
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How about a CPO Cayenne Coupe Turbo at $1200-1500?
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Maybe - I need to trade in my GX550 Overtrail for the Texas tax liability and want to pull all the equity out of it in the same transaction.
$2k a month to lease a 2023 Audi with 20k miles? Hard pass.
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FYI- Some preliminary information…
Collateral Value = 89950 is the value of the car assigned by the fund provider for purposes of managing financial risk. The Maximum loan to value ratio for most banks is 125%.
So, the Max L/V Limit = 125% x 89950 = 112437.50. This means that the max amount of the advance can’t exceed 112437.50. The adjusted cap = 102916 is similar to the amount financed in a loan and is well below the Max L/V limit.
CRV = 106500 is the Certified Retail Value of the vehicle according to criteria established by the fund provider. It is analogous to the MSRP of a new car. Thus, the residual value is…
42% x 106500 = 44730
Now, let’s look at the upfront fees, credits, and capitalized amounts…
Lease Inception Fees…
TLR…………………….. 2100.00
Doc Fee………………. 225.00
Acq Fee………………. 695.00
TOTAL………………… 3020.00
Trade Credit……….. 3000.00
Amount Capped…… 20.00
The 20 is added to the purchase price of 102896 to arrive at the 102916 adjusted cap. The monthly payment is calculated as follows:
.00256 x (102916 + 44730) + (102916 – 44730)/36 = 1994.25
Concerns…
The CRV = 106500 and purchase price = 102896 reflects a 3604 or 3.4% discount. That seems awful to me. It would be helpful if you knew the original MSRP of this vehicle to get an idea of the depreciation time-line profile. Is it reasonable given the condition of a car with 20K miles? What are the selling prices of similar CPOs in your marketing region? CPOs will always have lower residuals. The MF = .00256 equates to an interest of approximately 6.14% which is not too bad. Research competitive discounts. Perhaps shoot for 10% off CRV? It will depend upon used car sell prices in your local market.
EDITS
Max Front end Advance = 115% x Collateral Value
= 115% x 89950.00 = 103442.50
Max Back end = 10% x Collateral Value
= 10% x 89950.00 = 8995.00
Max Advance = 125% x Collateral Value
= 125% x 89950.00 = 112437.50
103442.50 + 8995.00 = 112437.50
??? Let me know.
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I believe the original MSRP was $133,715
Genuine question: why do you think it seems off?
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Need to learn the math and negotiables in leasing…do that first before leasing anything.
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Holy mother of god, that residual is terrible.