Lease payment - Ouch!
#13
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My car will also be $39,300. My inception costs only (delivery, tag, title, 1st month payment, security, local taxes) come to $2200. That is lease-speak for no money down, which is how you should do any lease (a lease is a pay me now, pay me later deal, so down payments are a waste of money).
My monthly payment with Florida's 6.5% sales tax is $610.00 for a 39 month lease through Audi Financial Svces.
I got $4k back from insurance company, and Audi has to refund my $500 security deposit on my first TT lease. I put down the minimum, and invest the rest. Way I see it, I came out pretty good considering.
My monthly payment with Florida's 6.5% sales tax is $610.00 for a 39 month lease through Audi Financial Svces.
I got $4k back from insurance company, and Audi has to refund my $500 security deposit on my first TT lease. I put down the minimum, and invest the rest. Way I see it, I came out pretty good considering.
#14
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is exactly the same as yours, down to the color, except I'm full leather, no nubs. Which brings up another point. The ideal lease candidate does not drive too much, at least does not HAVE to drive too much.
When my May delivered TT was totaled two weeks ago, it had 3,500 miles on the odometer, that in 6 months. I travel frequently for my job, so during that 6 months I was out of the country for maybe 6 weeks. You have to consider your lifestyle as well. In those 3,500 miles however, I drove to the Keys 3 times (I live in Miami), Orlando twice, Naples 2-3 times, and several other semi-long drives. So, it's not like I was sitting around biting my nails because mileage was piling up.
Sit down and figure out exactly how many miles you drive per month, and go with the minimum that you can live with, it'll save you some bucks.
By the way, did you also look into how much higher your insurance rates will be because you are leasing? Leased cars carry higher liability limits, usually in the order of 100/300/100K, versus a typical owned car at around 50/100/50K. Gotta do all the homework.
When my May delivered TT was totaled two weeks ago, it had 3,500 miles on the odometer, that in 6 months. I travel frequently for my job, so during that 6 months I was out of the country for maybe 6 weeks. You have to consider your lifestyle as well. In those 3,500 miles however, I drove to the Keys 3 times (I live in Miami), Orlando twice, Naples 2-3 times, and several other semi-long drives. So, it's not like I was sitting around biting my nails because mileage was piling up.
Sit down and figure out exactly how many miles you drive per month, and go with the minimum that you can live with, it'll save you some bucks.
By the way, did you also look into how much higher your insurance rates will be because you are leasing? Leased cars carry higher liability limits, usually in the order of 100/300/100K, versus a typical owned car at around 50/100/50K. Gotta do all the homework.
#15
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brad, you're probably the smartest of the lot. leasing is a total scam. the lowest possible price for any car since it is a severely depreciating asset, is paying cash, or financing and paying it off asap.
i'm doing the same thing because the leasing quote for mine was ridiculous. $675/48/15K/$22K buyout/$2000 down. i think that works out to over $55K total on a $40K purchase price, about 10% interest rate.
financing, i'm going the longest term possible to reduce the monthly payment, but plan to pay off the car within a year, all the while writing off 90% of the cost (plus interest costs) for business use, including depreciation by mileage. i figure i will save at least $10K in year one, pay less than $4000 in interest until paid off, and by year three, have spent less than $10K per year on it, considerably less than any lease.
one must really crunch the numbers when looking at leasing. if one is driving a ford taurus for business i can see why; but owning a tt is probably a long term love affair for most owners. i know i will be keeping this car for decades, making all kinds of upgrades and keeping it in perfect condition.
now if my goddamn broker would just get my car to me...
rb.
i'm doing the same thing because the leasing quote for mine was ridiculous. $675/48/15K/$22K buyout/$2000 down. i think that works out to over $55K total on a $40K purchase price, about 10% interest rate.
financing, i'm going the longest term possible to reduce the monthly payment, but plan to pay off the car within a year, all the while writing off 90% of the cost (plus interest costs) for business use, including depreciation by mileage. i figure i will save at least $10K in year one, pay less than $4000 in interest until paid off, and by year three, have spent less than $10K per year on it, considerably less than any lease.
one must really crunch the numbers when looking at leasing. if one is driving a ford taurus for business i can see why; but owning a tt is probably a long term love affair for most owners. i know i will be keeping this car for decades, making all kinds of upgrades and keeping it in perfect condition.
now if my goddamn broker would just get my car to me...
rb.
#16
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All lending institutions I spoke to would not offer a lease to me, unless I was a dealership or a dealer co-op or consortium. The lease products seemed to be aimed at the commercial market, not consumer.
Did some of you get competetive leases? From where?
Thanks
Did some of you get competetive leases? From where?
Thanks
#17
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I put the numbers into my sheet and get 661 a month for a 39 month lease.
Your money factor seems high though, I was quoted 0.0036 for AFS and 0.00345 for Harn (sp?), unfortunately as an expat I can't get the lower rate...
Andy
Your money factor seems high though, I was quoted 0.0036 for AFS and 0.00345 for Harn (sp?), unfortunately as an expat I can't get the lower rate...
Andy
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