Leases?

[BadBoyRipper]

Ok, so I'm considering trading in my lemon for a new vehicle. I'm thinking that a lease might be a good way to roll. My car is paid off. I was going to get rid of my car in a year when the warranty expires anyway, so if I can trade it in and save myself a payment for at least a year maybe more, then I'm good. And I have a brand new car.

I have read great things about the reliability of the new models. Anyone lease theirs? What are some pros and cons?

I'm also looking at a 535, and possibly even a Passat. I know, I know a lessor of a car, but I never had any problems with my VW's.

Thoughts are very welcome.

[Alpinevelo]

I'd say if you like Audis get one... Just because you got one lemon doesn't mean all Audis are the same.

I have had only one minor issue and it was a small tranny oil leak. I have a CPO and they took care of it, other than that I am always excited to get in my car and drive... Bemmers are great and so are VWs also, I've had both but neither one of them made me go crazy about them in any way.

[skiroad'r]

If you decide to lease, don't fall for the "how much do you want to pay per month?" scam from the dealer. You need to understand the following:

Price of the car -Value of car at lease termination = amt financed
amt financed x interest rate = amount of interest

(amount financed + amount of interest)/# of payments = monthly payment.

Money due at signing -- what is this for? -- capital cost reduction or security deposit?
Does the lease include Gap protection.

Captial cost reduction is essentially a down payment and in my opinion a waste of money, especially if the car gets stolen or wrecked. Gap insurance protects you if the car is stolen or wrecked and the whoesale value is lower than amount owed on the lease.


They will try to confuse you with terms like rental rate, etc. At the end of the day a lease is not all that much difference vs buying. Just make sure you understand exactly what you are paying for. EVERYTIME I went to lease, they tried to rape me on the terms.

[BadBoyRipper]

If you decide to lease, don't fall for the "how much do you want to pay per month?" scam from the dealer. You need to understand the following:

Price of the car -Value of car at lease termination = amt financed
amt financed x interest rate = amount of interest

(amount financed + amount of interest)/# of payments = monthly payment.

Money due at signing -- what is this for? -- capital cost reduction or security deposit?
Does the lease include Gap protection.

Gap insurance protects you if the car is stolen or wrecked and the whoesale value is lower than amount owed on the lease.

.

According to Audi, the Gap protection is included in the lease. They also have a special offer going right now for an A6 that requires $0 at signing. I was going to trade in my car (since its paid off) and put it toward payments so I won't have a payment for about a 1 1/2-2 years.

I good friend of mine is the main guy at the BMW dealer, so I know that he'll take really good care of me, and I'm going to talk with Audi today.

Can we put input some numbers in your example? Thanks for the help.

[skiroad'r]

sure -- it won't be exact, but in the ballpark. Typically on a trade, they treat that as money down (or capital cost reduction), so be very clear that you are not interested in in captal cost reduction, you want all the money for your trade applied to future payments. We can also argue the value of that money earning interest in your account vs their account. Typically, if you pre-pay the lease, there should be a substantial discount.

[wofman]

skiroad'r -

Almost correct on the lease explanation. But you don't just pay interest on the amount of car you depreciate -- you pay interest on full value of the car. So it's value of depreciation plus interest on entire value that is basis of lease (you are tying up entire car value for period of lease). The biggest variable is residual, of course. Some cars "lose value better" than others. I used to have link to a website for this, but I think it can be found via google. If need be, I'll search for it later.

wofman

[wofman]

leaseguide.com -- explains money facors, implicit interest rates in plain english

[Gigi]

I would get the 535, better handing, faster, more fun, free service I think and it'll be a change from what you've known... especially if you have a connection at BMW dealership.
The new A6 does not lkook as good IMO, more boring and is too big/heavy. No turbo engine. 3.2 is way too slow for such a big car and 4.2 is adequate but not fast like the 535. The A6 is also to expensive especially in 4.2
I was at the AUDI dealer today and checked them out. I drove a A4 2.0 Quattro 6 Spd Sline and it rocked!!!!!!!!!!!!!!!!!!!! My next car if an Audi will be the A4 with 2.0 and manual, not Auto ever again
But I am very tempted by the 335 and 535.

[oc-drop]

Passat CC perhaps?

[skiroad'r]

skiroad'r -

Almost correct on the lease explanation. But you don't just pay interest on the amount of car you depreciate -- you pay interest on full value of the car. So it's value of depreciation plus interest on entire value that is basis of lease (you are tying up entire car value for period of lease). The biggest variable is residual, of course. Some cars "lose value better" than others. I used to have link to a website for this, but I think it can be found via google. If need be, I'll search for it later.

wofman

thanks for the correction -- and thus why i don't lease anymore.

[BadBoyRipper]

Passat CC perhaps?

That new Passat looks really good to me. I personally don't need to have a fast car. My buddy at the BMW dealer suggested it mainly because the thats what the reps drive, so I'll get a better deal on one of them, plus the 535 comes with more features that are standard.

Personally I think that I'll be getting either the Audi or the Passat. The Passat has plenty of what I'm wanting not to mention the payment will be a bit nicer.

However, I'm a true Audi enthusiast and the A6 is just plain nice. Either way, I'll be happy.

[wofman]

what does s-line do with the 2.0 engine? I agree with Gigi on disappointing 3.2; cc looks nice (2.0 also?); C5 2.7-6 still seems better (but I haven't hit maintenance issues in my first 6 months - yet)

[oc-drop]

I think if you get the 4motion (awd) passat cc you'll have a similar driving experience to the A6

but atleast lower it and get tinted =)

[lodit]

That new Passatt CC looks nice...especially in front of the Waldorf Astoria in NYC...

I knew that picture was familiar for some reason....haha...

I've only ever seen the outside of the Waldorf though...perhaps one day I'll be sufficiently affluent to enjoy a few nights (or even just one night) there.

If BMW has a full 4 year maintenance package, and you're planning on leasing, I'd go that route...unless Audi has one to match, you're probably gonna end up spending a boatload more on the Audi...unfortunately because residuals on the Audi aren't as good as BMW, that lease price will definitely be more expensive.

[wofman]

checked the Passat CC -- 3.6, 280 hp and auto only (for US mkt); no turbo. Europe has 6 spd and 300 hp. That would be nice.

[BadBoyRipper]

I think if you get the 4motion (awd) passat cc you'll have a similar driving experience to the A6

but atleast lower it and get tinted =)

What ever I get, a nice drop, wheels, and tint are mandatory.

When are the CC Passat's coming to the market?

[BadBoyRipper]

checked the Passat CC -- 3.6, 280 hp and auto only (for US mkt); no turbo. Europe has 6 spd and 300 hp. That would be nice.

Not according to this article. The U.S. will get the 2.0L turbo and the 3.6.
http://www.motortrend.com/roadtests/...fications.html

Due out in Sept of 2008.

[wofman]

Badboy -- let me clarify: it is the V6 that is auto trans only. Manual only available for 2.0. As noted in Motortrend:
"Along with the six-speed DSG transmission we won't get, there were several key differences between this CC and the ones that'll come to the States. The Europeans have 20 more horsepower (300) and shorter gearing, which makes their cars feel very quick off the line. VW claims the European CC will hit 60 mph in 5.6 seconds, while ours apparently gets there in 6.2 seconds. U.S. cars are also neutered to 130 mph, while European versions can hit 155 mph."

[BadBoyRipper]

Badboy -- let me clarify: it is the V6 that is auto trans only. Manual only available for 2.0. As noted in Motortrend:
"Along with the six-speed DSG transmission we won't get, there were several key differences between this CC and the ones that'll come to the States. The Europeans have 20 more horsepower (300) and shorter gearing, which makes their cars feel very quick off the line. VW claims the European CC will hit 60 mph in 5.6 seconds, while ours apparently gets there in 6.2 seconds. U.S. cars are also neutered to 130 mph, while European versions can hit 155 mph."

No worries. I thought that it you were saying that their wouldn't be turbo at all.

Still looks like a great car to me.

[wofman]

3.6 is not turbo; so what does anybody think is possible out of modded 2.0?