If you have ever seen an Audi R8 on the road, then your first thought might be that the owner is rich, or perhaps that the car is a rental. And while either of those might actually be true, the truth is that many exotic cars are typically leased and then returned when the lease term is up. The main reason for this is due to the high running costs for the car and the depreciation.
As such, it makes sense to only own the car temporarily and enjoy it for a few years and then get into another one later on. The Audi R8, for example, is one such car as Audi does have a pretty decent lease structure for it, but what you might not know is that you can actually lease one out for less than a mortgage payment.
How much is the lease payment for an Audi R8?
Before we get to the “meat and potatoes” of the question, we will first paint the picture of how much a typical lease for a luxury car goes for. Keep in mind that there are plenty of variables including how much the dealer discounts the price, the down payment amount, the sales tax rate in your area, and also the title and registration fees, all of which are different in every state. That being said, your average Audi sedan or small SUV will likely lease out to around $600 to $700 a month with around 10% percent down. Of course, that depends on the model.
Now, for the Audi R8, we actually came across a video on Youtube created by Ari Janessian, who is an auto broker and former car salesperson. In his video, Janessian details the lease structure of an Audi R8 in order to express just how surprisingly low it really is.
In case you don’t feel like watching the video, here are the highlights of his Audi R8 lease payment discovery:
- Janessian’s lease is structured around a $155,000, rear-drive Audi R8 due to it having a 70% residual value when it’s driven only 5,000 miles per year. The Quattro version has a lower residual, which would lead to a higher monthly payment.
- The money factor he calculated is .00252 (7% APR equivalent)
- He factored in a 10% discount on the car, which would mean it would have a $140,000 lease price
- A $10,000 down payment is factored in because the starting costs for a lease on an R8 alone would be around $4,000 (first month’s payment, tax, title, registration fees).
- The monthly payment that he calculated, which includes $10,000 down, a 6.25% tax rate, and a mileage cap of 5,000 miles per year comes out to $1,389/month
It actually sounds like a fair deal
All things considered, we would say that a $1,389 per month lease payment, which is below the typical $1,500 house payment (and much lower if you live in California), sounds really fair considering you’re getting a 600-plus horsepower, rear-drive exotic that you can enjoy for a few years and then give back. Of course, it’s not cheap, nor is the initial cost of entry. But if you want to live the high life, then you have to pay to play.