S4 leasing question
#1
S4 leasing question
Hi all,
I'm interested in leasing an S4 within the next 3 weeks. I've never leased before, so I obviously have a few questions. I would love to know what others are paying for their leases and also would like to know what you thought of this lease:
S4 or S4 Avant
Closed-end lease.
39 mo/ 10k per yr.
Lease end value= $23478. No security dep./ .20 per mi over 10k.
What should I look out for in the paperwork? How much haggling and or bargaining tools are available with leases?
Finally, I'm trading in my A4 for the S4. No money owed on the A4. Do I have to put the trade-in money towards the lease or can I get a check?
TIA
Safe driving....
I'm interested in leasing an S4 within the next 3 weeks. I've never leased before, so I obviously have a few questions. I would love to know what others are paying for their leases and also would like to know what you thought of this lease:
S4 or S4 Avant
Closed-end lease.
39 mo/ 10k per yr.
Lease end value= $23478. No security dep./ .20 per mi over 10k.
What should I look out for in the paperwork? How much haggling and or bargaining tools are available with leases?
Finally, I'm trading in my A4 for the S4. No money owed on the A4. Do I have to put the trade-in money towards the lease or can I get a check?
TIA
Safe driving....
#2
make sure that you get GAP insurance and that you don't get screwed on the Money Factor (m)
The guys in F&I can really stick it to you. They like to talk in terms of how much do you want your monthly payment to be. you should be talking in terms of residual and interest.
#3
Just leased an 02' Black - Onyx/Silver Alcantara
Cap cost is the # you want to keep track of, that is the number they make all the calculations from. I got $40K after I had a $1200 negative equity from my '99 Accord (Lease). So they applied that to the CAP Cost. So, I could have gotten it for $38.5 or so. Payments are what you should be thinking of as well. I have a 39 month 10K per year lease. That had the best money rate that Audi offers, unless you want to go for a 48 month lease. Not sure if they will let you get a check for your A4, but you might want to think about buying a S4 if you think you will get $15K or more for your A4. I leased because I didn't have anything I wanted to put down, or a trade in that was paid for. If you are planning on keeping your S4 for many years, your better off buying it.
I am waiting on the '03-'04 Redesigned S4 in a couple of years. So, I won't keep my '02 for more than 3 years.
With that in mind, leasing isn't a bad idea if you are going to get rid of your S4 in a couple of years. Otherwise, you might think about selling your car outright and buying a used S4 to cut down on the depriciation you will get if you buy it new. Good luck, but you will be much more happy with your S4 if you don't screw yourself in the purchase/lease.
I am waiting on the '03-'04 Redesigned S4 in a couple of years. So, I won't keep my '02 for more than 3 years.
With that in mind, leasing isn't a bad idea if you are going to get rid of your S4 in a couple of years. Otherwise, you might think about selling your car outright and buying a used S4 to cut down on the depriciation you will get if you buy it new. Good luck, but you will be much more happy with your S4 if you don't screw yourself in the purchase/lease.
#5
Don't put the trade-in $$$ toward the lease...
You don't want to put anything down on a lease. Let them apply the trade-in money toward the "money due at signing," i.e. first payment, security deposit, registration, inspection, etc., but do NOT put a "down payment" on the lease. Then have them cut you a check for the difference. While a down payment lowers your monthly payments, the equity you are purchasing in the car is not really insured. So, let's say you put $5k down to lower your payments. If the car is stolen or wrecked, you lose the $5k. The gap insurance only covers what is owed on the car, so that you won't have to owe money for a car that you no longer have. But, it won't reimburse you for money already spent on the car. By putting no money down, you put the entire risk of theft/totaling on the insurer and leasing company.
#6
Negotiate the price as if you were buying the car, THEN talk about the lease payments.
The dealer is still "selling" the car, just not to you but a bank instead so try to get a good price on the car first. Go to Edmunds.com to get the invoice/options price. Like Black S4allion said, DONT put any money as a down payment. The dealer may sugesst this to get you a lower payment but instead "suggest" back to him to lower the price of the car. You may think that the car might not get stolen and that you are not the type of driver who would wreck a brand new car but take it from me, ANYTHING can happen. Just ask the stupid idiot who plowed into my rear end in an SUV goin 90 MPH and totaled my 4 month old A4 (very safe car by the way, walked away with just a sprained neck and a bump on my noggin).
It also helps to know exactly HOW the lease payment is made up<ul><li><a href="http://www.leaseguide.com">go here for some good info</a></li></ul>
It also helps to know exactly HOW the lease payment is made up<ul><li><a href="http://www.leaseguide.com">go here for some good info</a></li></ul>
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