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2014 Volkswagen GTI Lease Questions

13

Comments

  • kyfdxkyfdx Posts: 29,936

    @ccasey1 said: I'm seeing a few 14's at my local dealer (Charles Maund in Austin) being advertised at $3000 off for Memorial Day.

    Can you provide lease figures for 24 and 36 month leases, with 10k/yr?

    Thanks!

    .00027 MF. 54% residual for 36mo, 10K/yr. 61% residual for 24mo, 10K/yr. $500 lease cash.

    $3000 off would be a great deal... and, surprising.

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  • kyfdxkyfdx Posts: 29,936

    @‌ccasey1 I'm seeing over $3K off, advertised at one of my local dealers, as well.. Let us know if you can get that selling price on a lease. It appears the extra money is in lieu of taking the 0.9% financing, so it may be a cash only (or indpendent financing) deal.

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  • ccasey1ccasey1 Posts: 15

    I visited my local dealer this past weekend and was told that the $3k off was advertised and intended for purchase only, but that they would match it for a lease. The lease payment that they gave me, however, with nothing down for a 3 yr 10k lease was $369-375, and that was higher than I was expecting. Using the Edmunds lease calculator I figured $282/mo; this did not include any fees, as I do not have that info, so my figure was likely low. Even adding ~$900 in fees only got me to about $325/mo.

    So, long story short, I think they'd do it, but I need to see their calculations to be sure of what I'd be getting.

    -Chris

  • kyfdxkyfdx Posts: 29,936

    Yeah... Online, I saw Ourisman VW in Maryland was advertising $5K off! No stick shifts, though... :(

    I stopped at my local dealer and talked to a salesperson. They had one Driver's Edition with stick.. $30,7XX sticker... $3500 off. Just not cheap enough, considering I'd rather have the Wolfsburg Edition and save $60/mo. I calculated that as about $345/mo, plus tax (36mo, 12K/yr), allocating $1000 for acquisition, doc fee and title/license. Just 1st payment and security deposit at signing. (that's me calculating, not them). That's not a bad deal... but, I've got 5 months before I have to have a car, and eating an extra payment for that long? I can wait..

    Wolfsburg Edition at $26,1XX would be around $290/mo.+ tax, under the same scenario... Again, not bad, but timing not right for me...

    If they drop another $2K off, next month, I'll be scouring the planet for a stick.. :D

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  • danduranddandurand Posts: 9

    I haven't decided whether to lease another GTI. I don't know how long it will take 2015s to circulate more widely.

    In the meantime, I'm turning in my 2011 GTI in the next day or two. My trade-in value is roughly 16,400 according to Edmunds and Kelly. CarMax offered me 16,000. However, VW credit claims the residual price is only good for me and not another buyer. They quoted a dealer buyout of 16,800. This is the first lease I've had and so I'm not familiar with the turnback process. Is it true I can't cash in any positive equity I have on my lease?

    I could buy it myself but would have to pay taxes and retitle. Don't really want to do that. I realize I should have read the lease terms more closely but does anyone have any advice for me to capture the equity?

  • kyfdxkyfdx Posts: 29,936

    You don't say what the contract residual is on your GTI. How much less is it, than the $16,800 they are quoting CarMax?

    Most lease language is written to protect the bank, not the lessee. Rarely does it guarantee you any rights to equity, etc.. But, a lot of banks don't care, as long as they get their money back. Other banks will try to keep you from realizing any gain at lease end.

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  • danduranddandurand Posts: 9

    The residual is 14,040.

  • kyfdxkyfdx Posts: 29,936

    Wow... that's a big difference.. Did CarMax request the payoff, or did you do it on your own?

    Also, I wonder if the answer would be different, if you had traded it in a few months early? Maybe, the fact that the lease is paid up, and VW Credit knows what they have, has something to do with it. Not that any of that helps you now.

    At $14K, thats a pretty good deal.. maybe, you should keep it.. ;)

    Waaaaiiittt a minute.. where do you live and is it a stick? LOL

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  • danduranddandurand Posts: 9

    I did CarMax on my own. My first lease turn in and I read on Edmunds where any dealer would buy out the lease. So I tried. When I was at CarMax, I had them call VW credit and they quoted a 16,800 buyout. I talked to the VW credit person and they said the 14,000 buyout figure was for me only.

    I could buy it myself, but living in Cook County, IL. I would end up paying 1200 to 1300 in title transfer and taxes so that eats up lots of the profit, unless, I guess, I tried to sell it outright and got lucky with a motivated buyer.

  • kyfdxkyfdx Posts: 29,936

    Yeah.. if you aren't in the car business, it's hard to make money.... you might make a couple of thousand, but you might not. Dealers have the advantage of advertising budgets and being finance providers..

    I do wonder what would have happened if it had been a few months ago, and the last payment hadn't already been made.

    I've traded out of a couple of cars, near the lease-end, but never really showed any profit out of it.... just broke even..

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  • danduranddandurand Posts: 9

    I'm buying my wife a non-VW car today. I think I'll just use my lease ending GTI as final leverage and ask them for $500 buyout of lease. That's better than -350 if I turn in at VW dealer.

  • ccasey1ccasey1 Posts: 15

    Are the lease numbers out for 2014s in June? 3 yr 10k/yr, please. Thanks!

  • kyfdxkyfdx Posts: 29,936

    @ccasey1 said: Are the lease numbers out for 2014s in June? 3 yr 10k/yr, please. Thanks!

    .00027 MF and 54% residual. $500 lease cash and $1000 dealer GTI sell-down cash.

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  • resilientrresilientr Posts: 1

    Hello I am inquiring on whether it would be possible for me to obtain a good lease on a 2014 GTI Wolfsburg Candy White (Stick) I want to know what it would take to only have to pay $200-$250 I live in Jersey if that will help.

  • kyfdxkyfdx Posts: 29,936

    @resilientr said: Hello I am inquiring on whether it would be possible for me to obtain a good lease on a 2014 GTI Wolfsburg Candy White (Stick) I want to know what it would take to only have to pay $200-$250 I live in Jersey if that will help.

    The advertised lease is $279/mo. with $2379 due at signing, for 36mo, 12K/yr. Add taxes and registration to that amount. At that price, the dealer has a margin of about $1000. So... to get to $250/mo, you'd have to pay more upfront... or, get the dealer to cut his margin to zero..

    The Wolfsburg is more of a $300/mo. lease.

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  • danduranddandurand Posts: 9

    Just got a 2014 CSG Wolfsburg DSG. Sticker: $27,225. Purchase: $23,400. Lease: 3/30. 0 down, only first payment. $340 per month. Was one of last 2014 base Wolfsburgs in Chicago area.

  • kyfdxkyfdx Posts: 29,936

    Congrats.... wish I needed a car now, and not in October.. Pretty sure all of the 2014s will be gone by September (stick shifts are already in short supply)

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  • eks83eks83 Posts: 2

    A local dealership is advertising discounts for a 2014 GTI Wolfsburg DSG for the following:

    Sale Price: $23490 (original MSRP $27505)

    Lease option: $169/mo with $2999 + tax/title/acquisition fee (36 month/10K)

    When using the lease calculator with all numbers in this thread (0.00027MF and 54% residual, and $1500 incentive/rebates), I get ~$220/mo payments, so this looks like a really good deal. What do you think?

    Does VW allow you to do multiple security deposits instead of a down payment?

    Thanks in advance!

  • kyfdxkyfdx Posts: 29,936

    If you subtract the $2999 from the selling price, it will put the payments down to their number. I can't vouch for the inputs on the lease calculator.

    You'll notice that in their example, you still have to add an acquisition fee. It appears that the $2999 is a downpayment, not the total due at signing. Add all the upfront stuff back in, and this deal looks like about $279/mo. with tax/title and 1st payment upfront. Which is a pretty good deal.

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  • adam_gadam_g Posts: 6

    @dandurand said: Just got a 2014 CSG Wolfsburg DSG. Sticker: $27,225. Purchase: $23,400. Lease: 3/30. 0 down, only first payment. $340 per month. Was one of last 2014 base Wolfsburgs in Chicago area.

    Which dealer was this?

  • adam_gadam_g Posts: 6

    Picked up a 2014 GTI from Haggerty VW on Saturday. Nothing down, 36 months, first payment waived, $320/month. He used tax credits to waive Illinois' draconian lease sales tax, which was much appreciated.

  • MichaellMichaell ColoradoPosts: 6,496

    @adam_g said: Picked up a 2014 GTI from Haggerty VW on Saturday. Nothing down, 36 months, first payment waived, $320/month. He used tax credits to waive Illinois' draconian lease sales tax, which was much appreciated.

    Seems like a good deal! What was the MSRP and how long is the lease term and how many miles per year?

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  • adam_gadam_g Posts: 6

    @Michaell said:

    Thanks! 3 year term, 10,000 miles per year. I don't have the contract in front of me but I believe MSRP was ~$27,200 and that was negotiated down to $23,500 or thereabouts.

    Finance guy was pretty cool. He said that competition is so stiff right now that they are even eating into their holdbacks ($500-700 per car) to move cars. So basically, if they sell you a car for $700 under invoice, they're basically making nothing on the sale. But the money kicks in from VW corporate in the form of incentives earned once you hit certain sales targets, so it's in their interest to move them out the door. Besides that, their money is in used cars and service.

  • MichaellMichaell ColoradoPosts: 6,496

    @adam_g said: Finance guy was pretty cool. He said that competition is so stiff right now that they are even eating into their holdbacks ($500-700 per car) to move cars. So basically, if they sell you a car for $700 under invoice, they're basically making nothing on the sale. But the money kicks in from VW corporate in the form of incentives earned once you hit certain sales targets, so it's in their interest to move them out the door. Besides that, their money is in used cars and service.

    Nice deal! Thanks for the details.

    If you want a 2014 GTI, it looks like now is the time.

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  • glayfan40glayfan40 Posts: 27

    Just took delivery of my leased 2014 Wolfsburg DSG w/ MSRP of $27,285 on 7/1/14. ~$4200 off, 36mo/10K, with 1st payment down (all other fees which totaled $1150 rolled in), $292 a month tax (6.25%) included.

    I actually traded in my 2013 MB GLK250 w/ just under 10k miles (yes, I do have a sickness), which carried a negative equity of $2940 (owed $37,940, dealer offered $35,000, KBB valued it at $33,500 for trade-in). So my monthly payment is actually $380 tax included.

    2 weeks in and 1700 miles later (made a round trip to Toronto from Boston July 4th weekend) I can say I don't really miss the luxury on the MB one bit.

  • MichaellMichaell ColoradoPosts: 6,496

    @glayfan40 said: Just took delivery of my leased 2014 Wolfsburg DSG w/ MSRP of $27,285 on 7/1/14. ~$4200 off, 36mo/10K, with 1st payment down (all other fees which totaled $1150 rolled in), $292 a month tax (6.25%) included.

    I actually traded in my 2013 MB GLK250 w/ just under 10k miles (yes, I do have a sickness), which carried a negative equity of $2940 (owed $37,940, dealer offered $35,000, KBB valued it at $33,500 for trade-in). So my monthly payment is actually $380 tax included.

    2 weeks in and 1700 miles later (made a round trip to Toronto from Boston July 4th weekend) I can say I don't really miss the luxury on the MB one bit.

    Congrats on the purchase ... and, there is help here at Edmunds for your "sickness":

    http://forums.edmunds.com/discussion/4011/general/x/chronic-car-buyers-anonymous#latest

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  • glayfan40glayfan40 Posts: 27

    @Michaell said: http://forums.edmunds.com/discussion/4011/general/x/chronic-car-buyers-anonymous#latest

    Haha, yes I'm aware of that thread and do sometimes visit although never posted anything.

  • MichaellMichaell ColoradoPosts: 6,496

    @glayfan40 said: Haha, yes I'm aware of that thread and do sometimes visit although never posted anything.

    You should - we could use some new blood.

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  • amin7raamin7ra Posts: 9

    Hi @Michaell could I get the August MF and residual in Florida for a 12k mile/36 month lease for a 2014 VW GTI 4 door Wolfsburg DSG.

    As always, thanks for your help.

  • MichaellMichaell ColoradoPosts: 6,496

    @amin7ra said: Hi Michaell could I get the August MF and residual in Florida for a 12k mile/36 month lease for a 2014 VW GTI 4 door Wolfsburg DSG.

    As always, thanks for your help.

    .00022 and 52%.

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