I’m looking at leasing a new car and thought would be good to see what others are paying. That way I know dealer isn’t screwing me.
I’ll start, currently have Audi A4 FWD Premium.....$450 a month is my lease.
- Google / ProductgswhoopsGenerally speaking you're getting a great deal if the monthly payment is less than 1% of the car's MSRP. If you're making a down payment, as a rough approximation spread it over the lease term and add that to the monthly payment and then apply the 1% rule.
- Google / ProductgswhoopsFolks on this article are actually arguing 1% is too high a threshold haha. This article is slightly dated and interest rates/money factor have increased since then but generally I think the 1pct rule still passes smell test. Many examples of deals on leasehacker that are sub 1pct
- Depends how much did u put out of your pocket. Check out edmunds forum, there should be audi a4 lease thread.
- Keep in mind the effective cost you incur with a lease is effectively like paying 10-13% interest. There’s a reason why a lease is how car dealers make the most money off you. Of all ways to have a car, a lease on average is the most expensive. The only exceptions I’ve seen are very special and crazy lease specials like the $89 BMW i3 that happened a while back.
You’re not hacking or beating the system. Leasing companies always make more money off of you.
- This is not true. There are instances where leasing makes sense. When leasing you are not paying tax on whole car. Also you are not spending maintenance that you would spend if you bought and kept the car. Also cars like Bmw offer free maintenance for the duration of lease. If you get lucky you might not spend money on tires. Is it more than buying - yes but not like twice as much. You get the new tech, piece of mind for few extra grand.
- You’re talking about convenience. You pay a premium on that in your lease payment, plus paying for the depreciation in the car value, plus profit to the lease company, plus cost of capital. Some people prefer this. But it’s still more expensive than buying. This is a well understood industry position across consumer reports, Edmonds, etc...
Just don’t want people thinking they’re saving money here in the long term is all.
- $120 including all the tax for Hyundai Sonata. $3,000 down and only 10,000miles per year though.
- General Mills / DataMUsi88Jesus there’s like 1 decent lease in this thread. The rest are just awful. It’s been mentioned multiple times but seriously if you’re going to lease spend some time on leasehackr. The 1% rule is like the bare minimum and is easy to hit. Do your homework and come out ahead.
P.S. Stop putting money down on your lease people.