No money down? Leasing packages (Audi/BMW)

[LambnPork710]

So I really have my heart set on an Audi Q5 Sportback. I checked my Fico 8 Auto Scores

EQ 723

Transunion 736

EX 722

I know I will qualify for Tier 1 leasing rates with Audi because of my scores. Is there a such thing as "no money" down now ?

Also does anyone know the leasing Tiers for BMW ? 

I know Audi doesn't have the greatest leasing packages right now & BMW seems to have better packages, just in case I need a backup plan

[CreditCuriosity]

Typically never want to put money down on a lease.  I believe you will have to make first payment though is all that is down if i recall my last lease other than that maybe some dealer fees I can't remember but know I definitely didnt put any money down when I had a lexus 5 or so cars back.  Make sure you check the money factor and residual to back into an interest rate can to make sure it isn't crazy or getting a bad deal that you wouldn't be happy with.  Although believe these are set by Audi or BMW and not negotiable.  Probably they ar epublished on various sites for a given month and model as well.

Someone more savoy wiht leases hopefully will pipe in as been forever since i have had one.

[sccredit]

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@CreditCuriosity wrote:

Typically never want to put money down on a lease.  I believe you will have to make first payment though is all that is down if i recall my last lease other than that maybe some dealer fees I can't remember but know I definitely didnt put any money down when I had a lexus 5 or so cars back.  Make sure you check the money factor and residual to back into an interest rate can to make sure it isn't crazy or getting a bad deal that you wouldn't be happy with.  Although believe these are set by Audi or BMW and not negotiable.  Probably they ar epublished on various sites for a given month and model as well.

Someone more savoy wiht leases hopefully will pipe in as been forever since i have had one.

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Keep a very close eye on the MF from BMW. All maufacturers set the MF for leases but some (like BMW) allow delaers to mark it up.

On Audi IIRC you can AudiCare and receive a bump in residual (1% I think) that might save you some pennies over the long run.

[LambnPork710]

I received a "no money down" offer from Audi

36 months, 10k per year $871 monthly 

It just seems super expensive, again I'm new to leasing so this is all new to me 

[cashorcharge]

When you lease, you are not required (with good credit) to put money down...but you WILL have Drive Off Fees.  Those typically are a lease acquisiton fee, first months' payment and applicable tax.  Depending on what you're looking at....likely not significant.

To review lease Money Factors and Residual values, go to https://forums.edmunds.com/

You can review the specifics by model and lease term specifics (term, residuals, money factor and incentives by zip code) to give you an idea of what figures to expect during negotiations.

Remember...to calculate the APR for a lease, take the money factor and multiple by 2400 to get your APR percentage

Examples:  Money Factor .00299 x 2400 = 7.17% 

[ironchef]

So, I picked up a lease from Audi over the 4th july  and got a RS5 sportback 2024. I received a decent MF on a lease 36/12 and audi Fi had a deal if you had tier 1 they would take care of first payment. I usually always pay the taxes and tag even in a purchase .. 

The Dealership online had a deal for leases or purchases on 2024 select models  to pick up the Maintenance for the 3 years. I took advantage of that right away as well 3600$ saving... 

I wanted to mention I have owned BMW last 6 years with M6 & Recently a M3 at 2.49% and just sold it. Bmw didnt have a great program last or this month ... I could have went CU and picked up 5.43% but i wanted a great deal to go back. Since not I moved on ... 

I think my MF was .00223 and my Residual was decent as well roughly 51% Not bad during the Period of time we are in ,..

My Scores are all roughly 785-805 

[Thomas_Thumb]

Congratulations on the Audi RS5 sportback! A couple pics would be nice.

[ironchef]

[Thomas_Thumb]

Thanks for the pics. That car has been on my wish list since 2019. That interior color is a nice change from black. I was particularly struck by the deep green exterior paint color they offered only on the RS.

[MissLiz]

Woohoo! Congratulations!