Audi financial lease approval process

[itspaul]

I'm looking to lease an Audi RS E-Tron GT that will arrive in May 2022

I currently have a Jaguar with a $900 payment, $30k total shows as financed with Chase (Jaguars captive). 

The new lease would be $90k financed for 36months, $2600 monthly payments which is a 3x my current high credit

How does Audi financial look at this payment shock?

I assume they will require a huge down payment to put me at 2x my high limit that would be $60k financed, or $30 upfront. I know thats not the optimal thing to do for a lease

My TU is 819, Exp and Eq will be over 780 by then 

[Shooting-For-800]

$2600 for a lease for $90k car seems insane to me regardless of income.

I would check out some other $90k car leases for reference points.

Why not just buy it using a CU for 72 or 84 months?

You could always sell it before the end of the loan.

Your payment would be less than half of $2600 and have no lease requirements.

[itspaul]

It's a $168k car, $90k financed, 36/12k lease. 

There are no luxury performance EVs other than the Taycan which would be significantly more. 

I would only lease an EV

[Msafiri732]

I've bought three Audi vehicles through AF and they don't really care about the amount of your past car payment so long as it was paid on time and in full. Your credit score and DTI is what will make their decision. 

[itspaul]

I think DTI is the key more than anything. 

Any idea what DTI % they are looking for?

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@Msafiri732 wrote:

I've bought three Audi vehicles through AF and they don't really care about the amount of your past car payment so long as it was paid on time and in full. Your credit score and DTI is what will make their decision. 

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[Msafiri732]

Rule of thumb is 30% but I've seen people get approved at 35%. If you can walk in there with anything under 30%, you're golden.

By the way, good luck on the E-Tron GT, that's an amazing car, I'm literally turning green because the lady that runs our household would never allow it. So if we meet at a parking lot someday, allow me to take a few pics standing next to it!

[itspaul]

I appreciate that. If all goes well and you're in California, I would love for you to drive it. 

Its an incredible machine, EV propulsion aside. I prefer the Taycan, but it would be considerably more than I can afford 

[Creditplz]

Audi FS will (I'm assuming) require a bigger dp but regardless will approve.. 

also I'm not sure how likely the 2600 payment is.. if it's slated to come in mid 2022 MF & RV could be altered as they were when I was waiting on a 2016 Audi A8. 

also I've seen some reports on leasehackr where people are getting EQ5 for $300/mo for a 75k SUV so I'm not sure what's going on with Audi EV market but I don't think it's off to sprint yet.. 

I know it's a new car but regardless try getting something off MSRP as Audi don't usually sell that well from my understanding.

[itspaul]

There is a big caveat for this deal and it's based on the key points you made. 

For October 2021 (changes in 2 days, changes every month. I have a comprehensive list of monthly changes) the MF is .00184, RV is 55% for 36/12k 

Every point in RV is equal to $50 a month. 

I'm targeting at least 6% off by then. 

Problem is I see the pipeline of dealer orders and from now until the first half of 2022 and it's very low. Most dealers will get 1-3 cars max in the first half of 2022 

Maybe there will be more allocations known by November 1st. 

Another major headwind is the EV tax credits that will most likely disappear by then. That's a swing of $7500 and a huge chunk of payments. 

Can you explain what happened to your A8? 

[Shooting-For-800]

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@itspaul wrote:

It's a $168k car, $90k financed, 36/12k lease. 

There are no luxury performance EVs other than the Taycan which would be significantly more. 

I would only lease an EV

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Why would you only lease an EV?  

You can sell it in 2 years, 3 years, 4 years, 5 years, whenever.

"8 year/100K miles (whichever occurs first) high-voltage battery limited warranty coverage on MY21 Audi e-tron vehicles."

"4 years or 50,000 miles, whichever occurs first on all new vechicles"

"Four years or 50,000 miles, whichever occurs first on all new vechicles"

"12-year limited warranty against corrosion perforation on all new vechicles"

"Audi 24-hour roadside assistance for four years on all new vechicles"

Enjoy you new car!