djtroymx1

This is my first post of many I am sure. I am the new owner of an Audi s3.
I was out car shopping yesterday and was out in a c63 AMG but ended up buying a brand new S3. The AMG was an uncomfortable plastic monster and I wasnt feeling it.
I called my local dealer asking if they had arrived yet and he said that he got one an hr ago so I drove down and took it for a spin and fell in love.

I actually paid for a Daytona Gray (just to hold it) but decided to get the Sepang blue instead. So the dealer is trading for a blue one and I will have it in my driveway today hopefully.

This is one of the strangest purchases for me because Im as serious shopper. The problem with this is I didnt get any real world feedback and there are no customer reviews. I literally bought this on instinct and because I think its bad *** and I hope I like it.
This is the very first new car I have ever owned in my 42 years of existence. Its also the first lease I have ever had.

I wanted to run the terms and conditions by you guys to see if anyone could share their thoughts on my lease. I am new to leasing this is my first new car ever. I always feel a little uncomfortable with a lease because you can hide the numbers a little easier and I just plain don't understand them very well.

Ok here it goes. The price was $48,500 the term was 36 months, 12k mile odometer limit , I put $4500 down and have a monthly payment of $799 through Audi Financial on a B tier. Let me know if this sounds reasonable. I thought lease payments were supposed to be low LOL

Spoonie G

Congrats. You made the best choice. But $799 a month on a lease? Wow! Seriously though, Audis are known for horrible lease rates. I'm financing mine and I'm paying a lower monthly payment.

eltook

I also think that your lease payment are very high:/ you'll pay 29k$ in 36 month + 4,5k$ in cash down for a big total of 33,5k$! Thats represent 70% of the car value, lost in 3 years..

irenesbob

For perspective:
In January 2013 I leased a new '13 A6 2.0 Premium Plus Quattro with NAV, Cold Weather Package, floor mats, Quartz Gray, Side Assist. Total MSRP $51,170 with shipping. The negotiated sale price was $49,059. I paid sales tax upfront with no down payment. It is 3-years, 10,000 miles a year; my monthly payment is $670 all-in.
Bear in mind that even though this is “only” a 2.0 it includes all the other A6 goodies like Audi Drive Select, MMI, Audi Music Interface w/cable, 18” wheels/tires, Xenon Plus headlights, 7” pop-up screen, parking system with rear camera, advanced key, etc. This is a large well-outfitted car with amazing comfort and technology for $670 a month with no down payment.
The $4,500 you put down would equate to about an additional $125 a month that would need to be added to your $799, for a total of $924 to compare with my deal. Another $15 a month should be added to my number to be consistent with your 12K annual miles (mine is 10K),
Even so, the net effect is your $924 vs.my adjusted $685 for a car that has a higher MSRP – sketchy, me thinks.
I guess there’s a price to being the first one on the block with a new S3.

Spoonie G

If I'm being honest. With those lease numbers, you can get a lot more car than the S3. Personally, I wouldn't spend that for a S3 lease. No way in hell

Q5 Bob

To the OP, is the $799/mo. a typo? I agree with the others that it sounds VERY high for that car. Any chance that you can renegotiate?

djtroymx1

Well I have already left the dealer $3500 down. They are having the car delivered as we speak. It was traded from another city.

I have the numbers its a 57% residual with a .000275 MT and a loan amount of $49,000

Can anyone shed light on that?

DennisMitchell

I presume there is sales tax in the money down as well as first month's payment, and lease acquisition fee, etc. So we really need the breakdown of the out of pocket to advise better. A 57% residual is not bad on a 3 year lease.

At $49,000 it sounds like you paid MSRP.

djtroymx1

Yeah not sure but thats all the details I have. Ughhh Im so torn at the moment.

DennisMitchell

I don't know how you can get to a $799 payment with $3500 down.

I did a lease calculation using your factors: $49,000 cap, 57% residual, .000275 money factor, assume 36 month lease.

Without sales tax and out of pockets (1st month payment, acquisition fee, DMV) is $607 per month. You should verify those factors further with dealer. You may have something in error (too high residual), too low money factor. Hopefully you are not paying over MSRP.

Good luck with your new car.

Auto Lease Payment Calculator Formulas
BizCalcs.com
Vehicle or Leasing Co. Name 2015 AUDI S3
Vehicle MSRP $49,000.00
Negotiated Price $49,000.00
Total Cost Reductions -
Total Financed Add-on Costs -
Net Capitalized Cost Negotiated Price - Total Cost Reductions + Total Financed Add-on Costs
$49,000.00 = $49,000.00 - $0.00 + $0.00
Length of Lease 36 Months
Money Factor 0.000275
New Car Interest Rate 0.6600 %
Residual Value $27,930.00
Percent of MSRP 57.0000 %
Sales Tax - %
Monthly Lease Payment Monthly Depreciation Fee + Monthly Lease Fee + Monthly Sales Tax
$606.44 = $585.28 + $21.16 + $0.00
Payment Breakdown
Monthly Depreciation Fee Lease Financed Amount / Length of Lease (months)
$585.28 = $21,070.00 / 36
Monthly Lease Fee (Net Capitalized Cost + Residual Value) * Money Factor
$21.16 = ($49,000.00 + $27,930.00) * 0.000275
Monthly Sales Tax (Monthly Depreciation Fee + Monthly Lease Fee) * Sales Tax %
$0.00 = ($585.28 + $21.16) * 0%
Lease Financed Amount Negotiated Price - Total Cost Reductions + Total Financed Add-on Costs - Residual Value
$21,070.00 = $49,000.00 - $0.00 + $0.00 - $27,930.00