chickdr

We have a 2007 3.6 Premium with Convenience, Technology, Infotainment, 19" wheels and Panoramic SR. The lease ends in June and the dealer contacted me about buying the car since we are inside 90 days. The car is in great shape and has a little over 25K on the clock. They offered the following:

Residual $29,099
CPO warranty $1,490
CPO inspection $350
One lease payment $631 (the dealer will pay the second)
Total $31,570

I am shopping it with the other two Audi dealers in town to see if I can do better. I also plan to wait a bit as we just made this months lease payment so I want to get our money's worth...

Just wanted some input. It seems like a good deal as any CPO Q7's I have seen listed are above $35K(especially with under 30k miles).

Thanks!

mstams

Is the residual you quoted the amount specified in your lease agreement? If so, you should be able to do better. I don't know what current Q7 values are, but I do know it is possible to get a market valued payoff quote from your dealer. This often beats the lease end residual value. Just thought I would pass this along. Good luck.

chickdr

Thanks for the info. I have read about these adjustments on this forum before. Yes, $29K is the contract residual value. Our car has relatively low mileage(25K) and comparable 07 3.6's are selling above $35K so our residual is actually pretty fair. The two dealers I have contacted gave me very similar figures so I assume they are legit.

chickdr

We went ahead and bought the car tonight. They took another couple of hundred off and we will get 2.9% financing so I think we did ok. My wife is happy as she was not looking forward to having to drive something less than an Audi if we leased again.

GRNMACHINE

I am missing something important, have never leased before. What is the reason to pay for the CPO Warranty and CPO Inspection? How much longer will the CPO Warranty last and what exactly do you get for it? Have spoken with Audi Financial multiple times, can send them a check for the exact residual which to me seems alot more enjoyable than dealing with sales at dealership etc. My assumption, is CPO Warranty has to be done at dealer? Is it worth it? Going to dealership isnt out of the question, just not something I have much interest in. Thanks in advance.

QuartzQ7

Sorry to jump in mid-thread, but your feelings about visiting the dealer for this purpose are similar to mine. AUDI FS can't certify the car, only offer an extended warranty. They were unable to provide a price for a Q7 extended warranty (for a NJ resident at least) for over two months. They extended my lease one month as a courtesy when they couldn't provide the answer. I ended up turning it in since this didn't resolve and it didn't give me a good feeling that the warranty couldn't be priced. Additionally, there was no flexibility shown in the residual amount or waiving payments.

The CPO warranty doesn't transfer to the next owner making it much less valuable if you aren't going to hold the car until it expires. Additionally you could have cost for tires or brakes, etc to bring it up to the level required.

GRNMACHINE

Thanks Quartz. Due to unforeseen circumstances, the vehicle has about 7500 miles. Thats like renting an apartment you lived in for a few months out of the year. It is like brand new, still has new car smell. I will definitely be owning this vehicle until the warranty ends so resale isnt an issue. I am wondering if extended warranty is worth it or not. Havent purchased one in many years.

QuartzQ7

Grn, I understand. Here is a link to the audi program description.

http://microsites.audiusa.com/ngw/09...S_Brochure.pdf

In your situation, the CPO program should offer access to the lower finance rates.


APR Rates as low as 0.9% on all 2007 A4 and Q7 models*
(Also, special financing available for up to 66 months)


APR Rates as low as 1.9% on all 2007 A6 models*
(Also, special financing available for up to 66 months)

APR Rates as low as 2.9% on all 2006 – 07 A8 models*
(Also, special financing available for up to 66 months)

APR Rates as low as 3.4% on all 2005 A8, 2005-06 A4 & A6, 2008 - 2009 A4, A6, A8 & Q7 models*
(Also, special financing available for up to 66 months)

APR Rates as low as 3.9% on all 2005 - 2010 all A3, A5, TT & Q5 models*

- Special APR Rates apply to all models including S and RS models.

*APR financing offers including 0.9,1.9, 2.9, 3.4 and 3.9% APR on approved credit to qualified buyers through Audi Financial Services (AFS) at participating Audi dealers. APR financing offers apply to limited models and model years, see dealer for details on length of terms by model. Offers end May 3, 2010.

GRNMACHINE

Quartz,

Thanks ALOT for the INFO!!! AFS over the phone offered me 4.99%. Have found better rates, but if I can get 0.9% I will be talking a ride to the dealership. Will make a few calls this well. Again, thanks!! I do alot of research on the net, apparently, not enough....

chickdr

Sorry for not checking this thread more frequently. Funny how I got no responses when I asked for them but after I made my decision they came flooding in...

The CPO is sold by the dealer and the $350 inspection is required. As was already reported, the CPO is only for the purchaser and can not be transferred(stupid IMO since it isn't cheap). I do not usually recommend these extra warranties(I did not buy a CPO Z4M when I could have due to the extra 2-3K cost involved) but for the Q7, I am warry of issues popping up as time goes by. The extra 2yrs gives me peace of mind. Now I am covered until 3/2013 as my OEM warranty expires 3/11. I also took advantage of 2.9% financing(for 60mths) from AFS, which was lower than I have seen elsewhere(I pay 3.9% on my Z4M). The dealer paid one of my remaining 2 lease payments as well. The CPO inspection revealed the brakes are at 0% so now I am getting them done at an independent as the dealer quoted $800 for new pads on all 4 wheels. I will end up paying $360 by doing it elsewhere...

Also - you mentioned the desire to skip the dealership "experience". I actually did everything online except sign the paperwork(which was done in 20 minutes). I just met my salesperson today as I took the car in to have the rear bumper buffed out. I never actually went in for any negotiating.