Anyone leasing a 2013 S5?
08-03-2012, 09:20 AM
#11
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Plus, with Audi Financial rates around 1% - 1.9%, you're really better off financing. In my case, financing (with down payment) was only $20 more a month.
08-03-2012, 11:35 AM
#12
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OP, based on the July numbers, leasing from Audi FS, MY13 S5 Premium Plus Coupe 3yr/12k has a residual of 59% and m.f. of .00161.
I configured an S5 with enough options to have an MSRP of $56,670. Invoice would be $52,767. Assuming a sale of $1k over invoice, no incentives and not accounting for taxes, the payment would be $705.
The .00161 (3.865 converted) is not that great but is offset but a good residual. Most likely there would be a loyalty credit and the buy level should be between $500-800 over invoice. Both would reduce the payment. I don't know what the tax rate is for your state. But this would need to be factored into the payment.
I configured an S5 with enough options to have an MSRP of $56,670. Invoice would be $52,767. Assuming a sale of $1k over invoice, no incentives and not accounting for taxes, the payment would be $705.
The .00161 (3.865 converted) is not that great but is offset but a good residual. Most likely there would be a loyalty credit and the buy level should be between $500-800 over invoice. Both would reduce the payment. I don't know what the tax rate is for your state. But this would need to be factored into the payment.
08-03-2012, 11:37 AM
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08-03-2012, 11:40 AM
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Plus some credit unions (see PenFed) offer a rate at 1.5-1.75 even at 72 months. A 52k loan over 72 months # 1.75% is $761 per month. Almost free cash.
08-03-2012, 03:44 PM
#15
Ultimate Keyboard Warrior
$6372 down, $700/mo
$8374 down, $650/mo
$10016 down, $600/mo
$11659 down, $550/mo
With regards to saying it is always better to put nothing down. I can argue that the savings for putting more down are better than putting nothing down - interest rates are nothing right now for sitting on the cash.
$8374 down, $650/mo
$10016 down, $600/mo
$11659 down, $550/mo
With regards to saying it is always better to put nothing down. I can argue that the savings for putting more down are better than putting nothing down - interest rates are nothing right now for sitting on the cash.
Plus, if you put a lot down on a lease, and the car is stolen or totaled, you lose the down payment.
08-03-2012, 04:04 PM
#16
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If you look at how the interest on a lease is calculated it is based on two numbers, residual value and capital cost (i.e. buy price less money down). So any money down will decrease the cap cost but have no impact on residual. Therefore you will always be paying some level of interest.
The best approach is to a) negotiate the best buy price with factory incentives and b) obtain the best money factor. It is very common for the Finance Mgr to mark-up the m.f.
Leasing can still be an option. However with the interest rates being so low, traditional financing can be a better path forward.
08-04-2012, 10:48 AM
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08-04-2012, 03:46 PM
#19
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Just leased a 2013 S5 (MSRP $57520)
Hi folks,
My lease with $5K down is right around $680 w/gap insurance, CA tax, Audicare, wheel insurance.
About the issue of whether or not to put money down:
With gap insurance, you are better off putting very little down if you for some reason you terminate the lease early.
However, if you are qualifying for a mortgage, the additional monthly burden of the higher lease may impact your mortgage rate. So, we just moved to LA and sold all of our cars in MA before we left (including a 2010 Q, 2008 R32 and 2009 A4 Cab S-Line). We now have a 2012 A6 3.0T and the 2013 S5 - but are house shopping as well, so I put money down on both to relieve the monthly burden a bit.
My first choices were a TTRS and a Boxster S, but the leases on both were horrific and I could not tie up the cash to buy. So, we are loving the S5 (I did go with the manual - gluttoun for punishment that I am). Attached is a rather poor cell phone picture of the new team...
Don't forget your Audi Club NA $500 rebate
Good luck,
Eric
My lease with $5K down is right around $680 w/gap insurance, CA tax, Audicare, wheel insurance.
About the issue of whether or not to put money down:
With gap insurance, you are better off putting very little down if you for some reason you terminate the lease early.
However, if you are qualifying for a mortgage, the additional monthly burden of the higher lease may impact your mortgage rate. So, we just moved to LA and sold all of our cars in MA before we left (including a 2010 Q, 2008 R32 and 2009 A4 Cab S-Line). We now have a 2012 A6 3.0T and the 2013 S5 - but are house shopping as well, so I put money down on both to relieve the monthly burden a bit.
My first choices were a TTRS and a Boxster S, but the leases on both were horrific and I could not tie up the cash to buy. So, we are loving the S5 (I did go with the manual - gluttoun for punishment that I am). Attached is a rather poor cell phone picture of the new team...
Don't forget your Audi Club NA $500 rebate
Good luck,
Eric
08-04-2012, 04:21 PM
#20
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Explain to me how you would lose your Down Payment (as long as its insured] in the event of it being stolen or totaled.