Learn More About Leasing An Audi Q7
So you have your eye on a new Audi Q7, and you’re thinking about looking into leasing one. For many, leasing a car is a good option because it allows them to get more car for less money. There are some things about leasing a car that consumers should be aware of.
Reasons You Might Want To Lease
Anyone who wants a new car will naturally want the best car that they can get. But some of the nicer cars are very expensive and to purchase it requires a substantial down payment and large monthly payments. Leasing, on the other hand, has several ways in which a new car buyer can get more car for less.
The monthly payment on a new car will usually be less than it would be if financing it. Typically a brand new Audi Q7 on a 3-year lease will run around $700 or $800 a month. That compares to going the traditional route of getting a loan. The loan amount would, of course, depend on the length of time the loan was for, the amount of down payment and the interest rate. But even on a 60-month payment schedule with a very low-interest rate, you would still be looking at $900 to $1,100 per month for five years. How much exactly will depend on the interest rate and if you put any money down.
As you can see, using a lease allows you to get such a car at considerable savings. At the end of the lease, you are often given the opportunity to buy the vehicle, at which time if you chose, you could consider getting a loan on the car at that point. Or, as many lease users do, you could want to turn it in and lease a new car directly.
5 Tips For Getting The Best Deal When Leasing Your New Car
1. Negotiating The Price
You may think with the lease that you can’t negotiate, but the reality is you can negotiate with the lease just the same as you would if you were purchasing the car outright. The key to working this out is to go in as though you’re going to buy the car or finance it. Then take it for a test drive, talked with the salesman, and negotiate the price and down payment and any options that you want just like you’re going to buy the car. Then after you feel that you’ve gone as far with the negotiations as you can, then inquire about leasing the car.
2. Negotiate The Terms
When leasing a car, there are always mileage limits that are placed as well as down payment requirements and a purchase option that comes when you finish your lease. All of these things can be negotiated and should be. If you’re uncomfortable with negotiating you should try to find a friend or family member that has such skills and take them with you when you go.
3. Lease Money Factor
Within your lease agreement, a portion of the payment is considered to be interest or the rental part of the lease agreement. This, like all other aspects of the agreement, can be negotiated.
4. More Expensive Cars Depreciate Slower
When leasing a car, it’s often favorable to get higher end cars that are more expensive. The reason is that they hold their value more and that gives you greater options for negotiating the terms of your lease agreement.
5. Never Lease A Car Beyond A Period That Surpasses Its Warranty
There are some car dealers and lease arrangements that will lease you a car that extends beyond the warranty on the car. One of the things to keep in mind is that the protection that comes from having a new car is one of its appeals. Therefore it is highly recommended that you never lease a car beyond the time frame it’s covered by a warranty.