sid369

Hi all,

As I am researching the q7, I was sure to lease it as thats what is generally said about when buying any german car. However, the lease rates for q7 is really not favorable with MF being really high. So I am going to finance it and have a couple questions from folks who are financial experts.

I saw someone say Light stream they got 1.74% for 60 months, but I don't see that on their website. Do you guys suggest financing for 72-84 months. Instead of paying down payment I am thinking of financing almost the whole about? is this advisable, I think instead of paying $10,000 down payment, that money can can earn more if I invest in the market.

How easy is to get approved and how does it work, If the car I order takes 4 months can I get approved and have the money now and use it in 4 months when the car gets here?

I have a score of around 780 and wife is 800+ should she apply?
Should I apply for other banks as well so that its all one credit pull, do I have to do that in the same day or can it be a few days apart?

As I am thinking of financing the car, I am worried about what happens after the warranty expires, or if i want a newer model after 4-5 years, will the value of the car go down significantly. I Know the Toyota and Honda hold their value, but would the q7 hold its value?

The folks here who financed, did you buy extended warranty? or are you planning to see before warranty expires?

Looking for some finance whiz to help me make a right financial decision.

mgm864

I think she should apply too since it is over 800+, might get a better interest rate but wait until the car gets here if you order.


So far Lightstream seems to provide the best interest rate but all we saw back then was 1.99%. Try the other financial institution also, perhaps they can give you a better rate and usually Audi Financial would just match it.

PeteDin206

I'm going with AFS to get any and all incentives available and will quickly refinance with USAA at 2.25%. While I'm sure I can find better rates out there, I prefer to do business with companies I work with on a regular basis.

BigKutta

I personally dont go over a 4 yr loan, and only because money is cheap. I cant worry about a car not paid off outside warranty, so I'll put money down on a car. I think these 6-8 year loans are very long...look at the total interest paid.

Get a quote from your bank (or better yeat join a credit union), and then get audi to beat it. You have a great credit score so will get a great rate (close to 2% these days). A couple of pulls of credit are also ok

The car loses value each year, so doesnt matter about warranty. All depreciate using a similar curve

I never buy extended warranties. They are (obviously) designed to be a win for the warranty provider. I'll take my chances

titoj19

That's interesting - I operate the same way with the single exception of borrowing. All I need to know is that the lender can close the loan, and I'll take the lowest rate any day of the week. Had never heard of the mortgage broker I went with but they got good reviews on bankrate and I got an absurd rate. They paid up at closing and everyone's happy.

flynavy

I always just write a check....its lots easier than all that other stuff!

Back2BA6

Don't you think in todays world, you would be better off putting the 50k plus into some sort of an investment for 5 years. Most banks can get you around 2% for that term...im sure you can do better that 2% over 5 years with 50k.

Buckerine

Yes, but that takes thought and thinking is hard.

all joking aside, I agree. Just picked up a Q7 at 2.24% over 60 months. Could've probably done a little better with the interest rate, but not worth the time and effort. Financing precisely because I'm putting the rest of the money into investments.

PeteDin206

The difference for me is USAA provides me a lot of other value and security around my finances. My mortgage was run through my bank due to my private banking relationship. I'd do my refinance on my q7 once it arrives through them but the rate is .25% higher than USAA.

flynavy

I can do a lot better than that (usually)