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Leasing a new Q5 for the wife, need help on money factors....

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Old 04-15-2014, 03:47 AM   #1
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Default Leasing a new Q5 for the wife, need help on money factors....

As the title states Im having a new Q5 built for my wife, it should be delivered in the next 2-3 weeks. My sales guy shot over the lease info last week and it seems a little high so I wanted to post here and see what you guys think.

Money Factor = .00246
retail price = 47,495,
paying = 45,000
residual = 24,697
Payments with 4500 down 42 mo @ 10K/ yr = 651.09

does this seem in line with what others have gotten lately? I feel its a little high but not sure. Thoughts? Thanks
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Old 04-15-2014, 04:12 AM   #2
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I'd recommend checking out the Q5 forums on Edmunds.com. They are much more active in regards to financing questions.
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Old 04-15-2014, 05:02 AM   #3
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Originally Posted by MDK993 View Post
As the title states Im having a new Q5 built for my wife, it should be delivered in the next 2-3 weeks. My sales guy shot over the lease info last week and it seems a little high so I wanted to post here and see what you guys think.

Money Factor = .00246
retail price = 47,495,
paying = 45,000
residual = 24,697
Payments with 4500 down 42 mo @ 10K/ yr = 651.09

does this seem in line with what others have gotten lately? I feel its a little high but not sure. Thoughts? Thanks

As he stated above - see Edmunds.com.

However that money factor works out to 5.9%. I would say a tad high.

Rate = Money Factor X 2,400 = .00246 X 2,400 = 5.904%.


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Old 04-15-2014, 05:10 AM   #4
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Audi does have high lease rates....
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Old 04-15-2014, 05:23 AM   #5
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Originally Posted by Coolieman1220 View Post
Audi does have high lease rates....
That's why many Audi owners tend to buy their cars, whereas BMW owners lease them.
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Old 04-15-2014, 03:01 PM   #6
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Prefer buying for 48 months, than leasing... Youcan get a low rate and Audis have good resale value.

Bingo,
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Old 04-15-2014, 04:35 PM   #7
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I wouldn't put $4500 down unless it is for multiple security deposits (MSD). If you total the Q, that $4500 is gone if it is a down payment. In the same scenario, you would get the MSD money back. You would also get the MSD money back at lease end. The MSD is used to lower your money factor.
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Old 04-15-2014, 06:04 PM   #8
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Originally Posted by dsackman View Post
As he stated above - see Edmunds.com.

However that money factor works out to 5.9%. I would say a tad high.

Rate = Money Factor X 2,400 = .00246 X 2,400 = 5.904%.


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Thanks for the math, Ill check out Edmonds
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Old 04-15-2014, 06:04 PM   #9
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Originally Posted by habu987 View Post
I'd recommend checking out the Q5 forums on Edmunds.com. They are much more active in regards to financing questions.
Thanks, never looked at that forum. Ill take a look tonight.
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Old 04-15-2014, 06:05 PM   #10
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Originally Posted by Chuck2006 View Post
Prefer buying for 48 months, than leasing... Youcan get a low rate and Audis have good resale value.

Bingo,
I lease for tax purposes, I get to write a larger portion off.
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Old 04-15-2014, 06:06 PM   #11
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Originally Posted by mjfloyd1 View Post
I wouldn't put $4500 down unless it is for multiple security deposits (MSD). If you total the Q, that $4500 is gone if it is a down payment. In the same scenario, you would get the MSD money back. You would also get the MSD money back at lease end. The MSD is used to lower your money factor.
I agree, usually dont put much down if any. I still have a couple weeks before delivery to negotiate with them.
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Old 04-15-2014, 06:08 PM   #12
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Originally Posted by Coolieman1220 View Post
Audi does have high lease rates....
Ive actually done the opposite, leased from Audi and MB but purchased a BMW.
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Old 04-16-2014, 09:56 PM   #13
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Here is a link to a good lease calculator that gives your lease a rating. You can play around with the figures to see how it affects your payment.

http://www.ridewithg.com/calculator/index.html
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Old 04-17-2014, 09:35 AM   #14
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Quote:
Originally Posted by MDK993 View Post
I lease for tax purposes, I get to write a larger portion off.
This is only if you really return the car at the end, otherwise, it evens out over period of time, but you still have the car after that with the buying option.

Getting back to the original topic, right now - lease programs are good (better than 3 years ago) in case you really want to get rid of the car at the end. The residuals values are higher than 3 years ago and it wouldn't benefit the customer to actually buy off the car at the end. Just my 2 cents, after my original RV was set at 20,400 and the car was selling for >30K.
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Old 04-21-2014, 06:33 AM   #15
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Pentagon Federal CU has a payment saver program, a purchase with a balloon
at end of term. This is not a lease, I got my Q5 for 1.24% for 36 months back in January, with a balloon due in 3 years.
Best way to have low payments, very low cost of money, and unencumbered
by lease conditions. Gap is included.

You can go 24 to 60 months. Anyone can join Pen Fed.
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Old 04-21-2014, 07:28 AM   #16
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Quote:
Originally Posted by Zcobra1 View Post
Pentagon Federal CU has a payment saver program, a purchase with a balloon
at end of term. This is not a lease, I got my Q5 for 1.24% for 36 months back in January, with a balloon due in 3 years.
Best way to have low payments, very low cost of money, and unencumbered
by lease conditions. Gap is included.

You can go 24 to 60 months. Anyone can join Pen Fed.
How in the world did you get the Payment Saver Loan at PenFCU on the Q5?! It excludes SUVs and Trucks. I know it allows you to put a VIN in for a Q5, but I was too afraid to actually apply and get struck down with the hammer for not following the rules. If it's possible, I would surely use this as I did the same with my G35 and I actually made money back on the sale to the dealer instead of incurring the balloon at the end.
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Old 04-21-2014, 07:36 AM   #17
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They consider it a "wagon" ......I thought the same thing, would not
approve the Q5. I applied and literally minutes later my loan was approved
and check to purchase the car in the mail....
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Old 04-21-2014, 07:39 AM   #18
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Quote:
Originally Posted by Zcobra1 View Post
They consider it a "wagon" ......I thought the same thing, would not
approve the Q5. I applied and literally minutes later my loan was approved
and check to purchase the car in the mail....
You sir, are my new best friend.
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Old 04-21-2014, 10:24 AM   #19
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Zcobra1,

Interesting feedback on Pen Fed. I spoke to them a few weeks ago specifically on the Pmt Saver for a Q5 and after they looked up a VIN was told it didn't qualify. Maybe I should just apply online and see what happens - want to do a short term deal on a Q5 TDI and flip when the redesign comes out in a couple years.

Below is current info from Pen Fed website

"Trucks, Vans, Crossover Vehicles, Smart cars and SUVs are not eligible as Payment Saver Loan vehicle types. This restriction includes hybrid trucks and SUVs as well.

Pre-approved drafts no longer available for Payment Saver loans."
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Old 04-24-2014, 10:00 PM   #20
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Default Money Factor

The money factor is similar to interest. To get the equivilant interest rat you're paying, multiply the MF X 2400.....Conversely, to change an interest rate to a MF, divide the interest rate by 2400 ( example 4.5% /2400 = .001875).
BTW, this was the best MF I could get my dealer to offer. I won't do it...I'll just have to buy my SQ5.
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Old 04-24-2014, 10:00 PM
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