Never leased a car before. Does it make sense to lease an S4?
11-05-2003, 10:00 AM
#21
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Oh crap...but they were saying that the Premiere Purchase combines the benefits...
...of both a Finance and a Lease. How can that be? If even after 48 months, the residual will be around, say, 23K. I'll still have to finance that amount too..
11-05-2003, 11:14 AM
#22
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Sounds like it might be a purchase plan with a balloon payment
Did you have to pay tax on your downpayment? Did you have to pay tax on the car purchase? Are you paying tax on the monthly payments?
A purchase plan with a balloon payment works like a purchase, just the last payment is large.
If you are putting 19k down, might as well just purchase, as you'll likely be rightside up on the loan from day 1, and can sell at any time if needed and not have additional out-of-pocket expense.
A purchase plan with a balloon payment works like a purchase, just the last payment is large.
If you are putting 19k down, might as well just purchase, as you'll likely be rightside up on the loan from day 1, and can sell at any time if needed and not have additional out-of-pocket expense.
11-05-2003, 11:29 AM
#23
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No, I didnt' have to pay tax on the downpayment. Yes, I had to pay tax on the car...
...purchase. I don't know if the final monthly payment incorporates the tax or not.
Damn...I'd hate to see all that money down the drain...but then again, the finance option does come with a high monthly payment
(Like around $555/mo vs. $250/mo). Insurance is going to be like $300/mo. Damn...I don't know what to do here. Maybe buy a 2004 Acura TL with NAV??? Please help. Any advice is appreciated.
Damn...I'd hate to see all that money down the drain...but then again, the finance option does come with a high monthly payment
(Like around $555/mo vs. $250/mo). Insurance is going to be like $300/mo. Damn...I don't know what to do here. Maybe buy a 2004 Acura TL with NAV??? Please help. Any advice is appreciated.
11-05-2003, 11:49 AM
#24
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Your plan is a purchase plan with a balloon payment.
It's not a lease. The money you put down on the car went into equity on the car. So, it's not money down the drain. A balloon payment plan is an option for lower monthly payments, with the option to finance or walk away from the final payment. The balloon payment tends to be quite a bit lower than what a residual would be on a lease.
If it was like a lease, you'd have to pay tax on the downpayment, wouldn't pay tax on the car, and pay sales tax on each monthly payment. And the downpayment is just advance lease payments.
If it was like a lease, you'd have to pay tax on the downpayment, wouldn't pay tax on the car, and pay sales tax on each monthly payment. And the downpayment is just advance lease payments.
11-05-2003, 12:13 PM
#26
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Read the docs carefully....
You should be aware of your early termination options (which I believe work just like a purchase), and what happens at the end of the installment payments.
If you haven't purchased yet, you should ask the finance guy *all* the questions you have, and point out all your concerns. That's much better than just listening to advice from a random person on the internet.
(And I haven't read the details of the Audi Premier Purchase plan, so please don't take my word as gospel)
If you haven't purchased yet, you should ask the finance guy *all* the questions you have, and point out all your concerns. That's much better than just listening to advice from a random person on the internet.
(And I haven't read the details of the Audi Premier Purchase plan, so please don't take my word as gospel)
11-05-2003, 12:27 PM
#27
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I think I'll have to call the finance dude and talk to him.
Wait, don't we have representation on this forum? I heard that there are salespeople here sometimes...can they shed some quick light on this too?
11-05-2003, 02:54 PM
#28
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But can't the dealership refuse to take the car back and
force you to pay the residual which will probably end up being more then if you just financed the car in the first place?
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