Hey all,
I haven’t leased a vehicle since 2019, so I’m a little rusty. I’m helping my sister find a new vehicle and have been making inquiries and getting quotes for her. She wants the payment to be at or below $500. I wanted to share this quote in particular because I’m wondering if I’m missing something. Is it too good to be true?
Vehicle Details:
Model: Audi Q5 45 S Line Premium
VIN: WA1GAAFYXR2117966
MSRP: $53,090.00
AutoNation Savings: $6,090
AutoNation Price: $47,000
Window Tint (Lifetime Warranty): $499
Vehicle Selling Price: $47,499
Sales Tax (Estimate): $2,968.69
Dealer Documentation Fee: $225
Title Fee: $33
Inspection to State: $16.75
License Fee: $108.25
Road and Bridge Fees: $23
Buyer Tag Fees: $5
Inspection to Station: $7
VIT: $68
Balance Due: $50,953.99
The residual is 56%, and I was told they matched TFS’s rate of 4.99% (I was originally working with a 4Runner quote) for 10k miles/36 months. We’re looking at $4,500 down and $574 per month.
I should also note that I sent this to another Audi dealer (Sewell), and they said they would take off another $1,000 and add the $1,000 Costco rebate for a total of $2,000 off the MSRP, which would bring the payment to $525. They won’t send me a quote because “we’re Sewell, and we honor what is said above.”
So my question for you is: Is this a good deal? Is there something I’m missing? Am I leaving money on the table? Should I go back and ask for more? Is that too much of a down payment? (My last lease was $1,000 down.)
she just liked the car, but open to other options. she was looking at a 4runner, and VW Atlas Cross Sport. She wants the payment in general to be at or around 500$/m
None of those cars will lease for close to $500/mo, esp the 4runner.
Unless you have lots of time and lots of patience, I would strongly suggest you have your sister reach out to one of the highly rated brokers here to get a sense of what might fall into her budget and what models are eligible for tax credits. She’s not going to find an mildly expensive ICE SUVs from brands are notoriously lease-unfriendly in her budget, esp in TX.
Otherwise, I think you are going to feel very frustrated.
That’s actually better than I thought it would be. 4Runners are notoriously lease-unfriendly, and it remains to seen if this new generation is as bullet-proof as previous gens (b/c, if so, it would make more sense to purchase, esp given the TX tax situation).
Honestly, at least w/o the bad tax situation, your sis would be looking at like mid-level RAV4s, CR-V, and the like, if she wants to stick w/ ICE or a hybrid. There can be several mid-level EV SUVs she can get at or below her budget (at least outside of TX).
@IAC has BMW sedan loaners that are kind of in her budget (and only if she qualifies for loyalty).
She needs to decide if her budget is the most important thing or the specific car. She’s not getting a Q5, 4Runner, or Cross Sport (also lease poorly) for anything close to an effective $500/mo in TX.
It makes no sense at all to pay more taxes and fees on a lease than on a purchase, which is the typical situation in TX.
And she’s not getting an Atlas CS in her budget so forget about that too.
The best bet in her price range is a CX50 or Sportage if they are still offering 1.9% for 60 months.
Definitely do not get into the habit of paying $500 to lease in this segment. That’s $18,000 paid in 36m with zero to little equity and if repeated that’s $36,000 paid over 72m with zero to little equity.
So you wouldn’t recommend the Q5 at $525m with 4k down?
The more time I spend on this the more I think the 4runner is a better idea. Lease or not. Ive had good experiences leasing Toyota’s. I bought out my 2019 Tacoma with equity.
I see your point, but I sure loved my 320$ payment. I dont remember all the details of the deal, but it was a TRD Off Road 39k msrp and paid 36k OTD. My buy out was 26k and wrote a check.
