But we've been thru this before!!
08-31-1999, 08:45 AM
#1
Guest
Posts: n/a
But we've been thru this before!!
I know that some time back, this thread/topic was already run on this forum. However I didn't give it much thought since it didn't apply to me then. But now it does. Any input would be greatly appreciated.
Went to my somewhat local dealer to inquire about leasing a TT. He's telling me that if I shell out $5K, my lease payments for 15K mile/36-month lease will be around $475. This doesn't seem remotely accurate. I know the Audi website comparator is just a "rough guesstimate", but I input the same numbers there and I get a cost around $350. My question: Why the $125 discrepancy? The dealer assures me that my quoted lease cost was entirely on Audi's decision, thus the dealership had virtually no say in what my cost would be. If that's the case, then I wonder even more: Why the $125 discrepancy.
BTW, I live in RI and they only charge tax on the portion of the car that I'm leasing, not the entire cost of the car.
Can anybody help??
Thanks in advance,
-Mike
Went to my somewhat local dealer to inquire about leasing a TT. He's telling me that if I shell out $5K, my lease payments for 15K mile/36-month lease will be around $475. This doesn't seem remotely accurate. I know the Audi website comparator is just a "rough guesstimate", but I input the same numbers there and I get a cost around $350. My question: Why the $125 discrepancy? The dealer assures me that my quoted lease cost was entirely on Audi's decision, thus the dealership had virtually no say in what my cost would be. If that's the case, then I wonder even more: Why the $125 discrepancy.
BTW, I live in RI and they only charge tax on the portion of the car that I'm leasing, not the entire cost of the car.
Can anybody help??
Thanks in advance,
-Mike
08-31-1999, 08:57 AM
#2
Guest
Posts: n/a
Excel lease program
In order to calculate a lease rate you will need to know the residual (26% for my TTQ), money factor, and MSRP. When you get these go to the link below and download the program to find out what your lease should be.<ul><li><a href="http://www.carbuyingtips.com/lease2.htm">http://www.carbuyingtips.com/lease2.htm</a</li></ul>
08-31-1999, 11:00 AM
#5
Guest
Posts: n/a
Re: But we've been thru this before!! How to get an acurate picture
Michael:
Set up a simple Excel spreadsheet to calculate the payment.
You need to know 1) the Total Cost of the car, including taxes, etc.
2) The total amount of your down payment, tradein
3) The estimated residual value on the car on return (You dealer has a sheet)
4) The anticipated interest rate (Audi quoted me 8.5% annually 10 days ago)
Base on that the payment is based on the sum of:
a) Interest on the risidual value @8.5% for the life of the loan.
b) The total payment for the (Total cost less Down payment) - Residual Value.
Use the Excel PMT function to calculate b, above, based on the input info.
You'll get the monthly payment within a few cents or else someone is lying to you.
Set up a simple Excel spreadsheet to calculate the payment.
You need to know 1) the Total Cost of the car, including taxes, etc.
2) The total amount of your down payment, tradein
3) The estimated residual value on the car on return (You dealer has a sheet)
4) The anticipated interest rate (Audi quoted me 8.5% annually 10 days ago)
Base on that the payment is based on the sum of:
a) Interest on the risidual value @8.5% for the life of the loan.
b) The total payment for the (Total cost less Down payment) - Residual Value.
Use the Excel PMT function to calculate b, above, based on the input info.
You'll get the monthly payment within a few cents or else someone is lying to you.
Thread
Thread Starter
Forum
Replies
Last Post
Iridium7777
S4 / RS4 (B5 Platform) Discussion
2
06-14-2002 06:52 AM
timcar
A6 / S6 (C5 Platform) Discussion
8
08-17-2000 07:23 PM