Leasing a new Q5 for the wife, need help on money factors....
#11
AudiWorld Junior Member
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I wouldn't put $4500 down unless it is for multiple security deposits (MSD). If you total the Q, that $4500 is gone if it is a down payment. In the same scenario, you would get the MSD money back. You would also get the MSD money back at lease end. The MSD is used to lower your money factor.
#13
Here is a link to a good lease calculator that gives your lease a rating. You can play around with the figures to see how it affects your payment.
http://www.ridewithg.com/calculator/index.html
http://www.ridewithg.com/calculator/index.html
#14
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This is only if you really return the car at the end, otherwise, it evens out over period of time, but you still have the car after that with the buying option.
Getting back to the original topic, right now - lease programs are good (better than 3 years ago) in case you really want to get rid of the car at the end. The residuals values are higher than 3 years ago and it wouldn't benefit the customer to actually buy off the car at the end. Just my 2 cents, after my original RV was set at 20,400 and the car was selling for >30K.
Getting back to the original topic, right now - lease programs are good (better than 3 years ago) in case you really want to get rid of the car at the end. The residuals values are higher than 3 years ago and it wouldn't benefit the customer to actually buy off the car at the end. Just my 2 cents, after my original RV was set at 20,400 and the car was selling for >30K.
#15
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Pentagon Federal CU has a payment saver program, a purchase with a balloon
at end of term. This is not a lease, I got my Q5 for 1.24% for 36 months back in January, with a balloon due in 3 years.
Best way to have low payments, very low cost of money, and unencumbered
by lease conditions. Gap is included.
You can go 24 to 60 months. Anyone can join Pen Fed.
at end of term. This is not a lease, I got my Q5 for 1.24% for 36 months back in January, with a balloon due in 3 years.
Best way to have low payments, very low cost of money, and unencumbered
by lease conditions. Gap is included.
You can go 24 to 60 months. Anyone can join Pen Fed.
#16
Pentagon Federal CU has a payment saver program, a purchase with a balloon
at end of term. This is not a lease, I got my Q5 for 1.24% for 36 months back in January, with a balloon due in 3 years.
Best way to have low payments, very low cost of money, and unencumbered
by lease conditions. Gap is included.
You can go 24 to 60 months. Anyone can join Pen Fed.
at end of term. This is not a lease, I got my Q5 for 1.24% for 36 months back in January, with a balloon due in 3 years.
Best way to have low payments, very low cost of money, and unencumbered
by lease conditions. Gap is included.
You can go 24 to 60 months. Anyone can join Pen Fed.
#17
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They consider it a "wagon" ......I thought the same thing, would not
approve the Q5. I applied and literally minutes later my loan was approved
and check to purchase the car in the mail....
approve the Q5. I applied and literally minutes later my loan was approved
and check to purchase the car in the mail....
#18
#19
Zcobra1,
Interesting feedback on Pen Fed. I spoke to them a few weeks ago specifically on the Pmt Saver for a Q5 and after they looked up a VIN was told it didn't qualify. Maybe I should just apply online and see what happens - want to do a short term deal on a Q5 TDI and flip when the redesign comes out in a couple years.
Below is current info from Pen Fed website
"Trucks, Vans, Crossover Vehicles, Smart cars and SUVs are not eligible as Payment Saver Loan vehicle types. This restriction includes hybrid trucks and SUVs as well.
Pre-approved drafts no longer available for Payment Saver loans."
Interesting feedback on Pen Fed. I spoke to them a few weeks ago specifically on the Pmt Saver for a Q5 and after they looked up a VIN was told it didn't qualify. Maybe I should just apply online and see what happens - want to do a short term deal on a Q5 TDI and flip when the redesign comes out in a couple years.
Below is current info from Pen Fed website
"Trucks, Vans, Crossover Vehicles, Smart cars and SUVs are not eligible as Payment Saver Loan vehicle types. This restriction includes hybrid trucks and SUVs as well.
Pre-approved drafts no longer available for Payment Saver loans."
#20
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Money Factor
The money factor is similar to interest. To get the equivilant interest rat you're paying, multiply the MF X 2400.....Conversely, to change an interest rate to a MF, divide the interest rate by 2400 ( example 4.5% /2400 = .001875).
BTW, this was the best MF I could get my dealer to offer. I won't do it...I'll just have to buy my SQ5.
BTW, this was the best MF I could get my dealer to offer. I won't do it...I'll just have to buy my SQ5.