Ordered an 04..good deal?
09-05-2003, 11:14 AM
#11
New Member
Join Date: Jun 2003
Posts: 256
Likes: 0
Received 0 Likes
on
0 Posts
With the options you selected...
MSRP is $31315
Invoice is $28485
I think you can do better on the agreed price.
For a comparision I am getting 1.8t, quattro 6 speed, cold weather, premium, lighting and ultra sport for just over $32000.
BTW all the prices include destination.
Invoice is $28485
I think you can do better on the agreed price.
For a comparision I am getting 1.8t, quattro 6 speed, cold weather, premium, lighting and ultra sport for just over $32000.
BTW all the prices include destination.
09-05-2003, 11:40 AM
#13
GTakacs to the rescue! :-D (I just can't help it, I need my AW fix!)
I guess I can brake my own silence (wasn't easy not to post anything new this morning I gotta tell you :-D ) and help you out.
MSRP is $31,765 on that car, invoice is $28,886. That price is $1K off sticker. It is nothing spectacular but since I have no idea where you live it's hard for me to gauge if that's a good deal or not. In TX most dealers will not discount an Avant for example any less than $1500 doesn't matter if it's the end of the model year or not. So $1K off sticker might be a good deal in your area, if I were you I'd negotiate more or have them throw in a free tint, floormats or other stuff like that.
As for the figures:
The new finance residuals and money factors just came out and they are not looking good. for 48 months the residual is actually 45% (it was 49% in July, it dropped like a bomb now). Add 3% to that one to get the 10k/year residual so your residual is actually 48% not 51%. If your dealer can do it at 51% he is a magician.
Money factor also went up to 0.0019 which is pretty bad news too.
With these figures (assumed 7% sales tax) and only bank fee, security deposit and first payment down (about $1700) you're looking at a $438/month payment.
Also, I don't know which state you live in so tax might be assessed on the entire purchase price in which case the payment would be $458/month. In this case a premiere purchase might be a better option, current PP rate is 4.44% so payment would be $444/month with zero down (no bank fee, no security deposit, no first month's payment)
Actually looking at those numbers a PP makes more sense to you even if the tax is only assessed on the usage as you'd save the bank fee and the other up-front costs and you would not have to pay sales tax on the remainder of the car should you decide to keep it at the end of the term. I'd PP this car for sure if I were you.
Regarding mileage and payments. If you opt for a 15k/year term instead of a 10k/year term your payment would jump from $438 to $457 ($444 to $462 on the PP) but your payoff would be reduced from $15,250 to $14,300. That is almost $1K less to refinance at the end of the term and you would pay an extra $900 for it over the lease term. And if you decide to turn it in you would not find yourself seriously upside down and owe a ****load in excess mileage. Also since it's not buying miles up front you'd not lose that money, it comes straight off of your payoff.
Honestly, I think you're thinking about leasing for the wrong reasons. You're trying to lease to keep your payments low and not because you want to, and can afford, to get a new car every 3-4 years. If you lease for 4 years with 10k and end up buying the car with all the excess miles you will be seriously upside down and you will be stuck with that car for a long time to break even. This is the standard recepie for disaster! If you want to avoid it, I'd recommend you pay the extra $20 a month and go with a 15k lease so you have your options open at the end of the term and you can truly walk from the car if you wish.
Just to show you what you're setting yourself up. If you actually drive your car 5k more every year you'll have 20k mile overage which would cost you $5K in excess mileage at the end of the term. Your car payoff would be $15K and the car with that many miles would probably worth $12K if that much. So if you wanted to get out of the car at that point you'd be $3K in the hole. You don't want that, believe me!
Good luck and don't hesitate to ask if you have more questions!
BTW if you want to run your own numbers I have made and <A HREF="http://klasstruckingllc.com/lease/Lease.xls">Excel file</A> that you can use to crunch them.
THERE, that's a typical GTakacs response :-D
MSRP is $31,765 on that car, invoice is $28,886. That price is $1K off sticker. It is nothing spectacular but since I have no idea where you live it's hard for me to gauge if that's a good deal or not. In TX most dealers will not discount an Avant for example any less than $1500 doesn't matter if it's the end of the model year or not. So $1K off sticker might be a good deal in your area, if I were you I'd negotiate more or have them throw in a free tint, floormats or other stuff like that.
As for the figures:
The new finance residuals and money factors just came out and they are not looking good. for 48 months the residual is actually 45% (it was 49% in July, it dropped like a bomb now). Add 3% to that one to get the 10k/year residual so your residual is actually 48% not 51%. If your dealer can do it at 51% he is a magician.
Money factor also went up to 0.0019 which is pretty bad news too.
With these figures (assumed 7% sales tax) and only bank fee, security deposit and first payment down (about $1700) you're looking at a $438/month payment.
Also, I don't know which state you live in so tax might be assessed on the entire purchase price in which case the payment would be $458/month. In this case a premiere purchase might be a better option, current PP rate is 4.44% so payment would be $444/month with zero down (no bank fee, no security deposit, no first month's payment)
Actually looking at those numbers a PP makes more sense to you even if the tax is only assessed on the usage as you'd save the bank fee and the other up-front costs and you would not have to pay sales tax on the remainder of the car should you decide to keep it at the end of the term. I'd PP this car for sure if I were you.
Regarding mileage and payments. If you opt for a 15k/year term instead of a 10k/year term your payment would jump from $438 to $457 ($444 to $462 on the PP) but your payoff would be reduced from $15,250 to $14,300. That is almost $1K less to refinance at the end of the term and you would pay an extra $900 for it over the lease term. And if you decide to turn it in you would not find yourself seriously upside down and owe a ****load in excess mileage. Also since it's not buying miles up front you'd not lose that money, it comes straight off of your payoff.
Honestly, I think you're thinking about leasing for the wrong reasons. You're trying to lease to keep your payments low and not because you want to, and can afford, to get a new car every 3-4 years. If you lease for 4 years with 10k and end up buying the car with all the excess miles you will be seriously upside down and you will be stuck with that car for a long time to break even. This is the standard recepie for disaster! If you want to avoid it, I'd recommend you pay the extra $20 a month and go with a 15k lease so you have your options open at the end of the term and you can truly walk from the car if you wish.
Just to show you what you're setting yourself up. If you actually drive your car 5k more every year you'll have 20k mile overage which would cost you $5K in excess mileage at the end of the term. Your car payoff would be $15K and the car with that many miles would probably worth $12K if that much. So if you wanted to get out of the car at that point you'd be $3K in the hole. You don't want that, believe me!
Good luck and don't hesitate to ask if you have more questions!
BTW if you want to run your own numbers I have made and <A HREF="http://klasstruckingllc.com/lease/Lease.xls">Excel file</A> that you can use to crunch them.
THERE, that's a typical GTakacs response :-D
09-05-2003, 12:13 PM
#20
AudiWorld Super User
Join Date: Nov 2001
Posts: 2,020
Likes: 0
Received 0 Likes
on
0 Posts
I knew he'd be back... (m)
... because he's a good guy who likes to help people. and most of what caused him to leave was typical forum misuderstandings. let's face it, this isn't the best form of communication. it's tough to read body languange and sarcasm.
also because AW is a very hard habit to break. i have tried many times. i can't stay away for more than a day.
G... glad that cooler heads prevailed, and you decided to stay. your posts are almost as informative as april's (and that's good company).
also because AW is a very hard habit to break. i have tried many times. i can't stay away for more than a day.
G... glad that cooler heads prevailed, and you decided to stay. your posts are almost as informative as april's (and that's good company).