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2015 Volkswagen GTI Lease Questions

nateonatornateonator Posts: 2
edited May 11 in Volkswagen

Hi all,

I am looking to get a 2015 GTI once they are available this summer. I have been exploring purchasing options and am really leaning toward a lease this time around. Looking to get opinions. Lower monthly payment on a lease vs a purchase is important to me.

I would get a 3yr/45K lease. My assumption would be that the residual would be about 53%. The agreed sales price is an unknown, but hopefully under MSRP (4 door SE 6MT w/ light package) which is about $29K. The money factor is also an unknown. My credit score is north of 700 - think I would get a good rate?

I drive quite a bit, about 20K per year, but I end up not keeping my car for more than 3 years. I was willing to buy the extra miles up front to cover the extra miles, but I was told that VW Credit gives you a chance to buy more miles mid-way through the lease at the lower cost. If this is true, this makes way more sense as I will have a much better idea on where I will be ending up on the odometer. Always having a car under warranty coverage is very appealing as well. Plus, the Mrs can't get mad at me for wanting a new car after 3 years since I have to get one as the term is up. :wink:

I will be trading in my current car (2010 Taurus SEL, leather, parking assist, in very good condition), but I have some negative equity in it (couple grand). I am planning on paying off that instead of rolling it into the new lease. This is provided I get a decent trade-in offer. I don't want to wait until I pay down the loan more since I am approaching 100K miles and don't want to trade it in north of that. As I would be putting $ toward the previous loan, less money due at signing (lease) is another attractive factor vs a purchase.

I have a very steady job and there is a good chance my commute will get shorter soon, definitely not longer. I don't mind "renting" a car as I won't modify it and a car is a depreciating asset as it is and I will never keep a car long enough to get a monetary return on it. I don't plan on putting any money down on the lease as I have read that it is always a no-no to do this since you are essentially throwing your money away.

Does this make sense in my situation? As I have never leased before, is there anything to be mindful of when it comes time to turn in the lease; some sort of fine print or "catch"? Would it be as easy as show up trade in the car and get another lease (or buy it outright)? How would the extra miles change things come trade-in time?

Thanks!

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Comments

  • kyfdxkyfdx Posts: 29,370

    Rates for the new 2015 GTI

    .00158 MF and 59% residual for 36mo, 15K/yr

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  • justg0justg0 Posts: 70

    @kyfdx said: Rates for the new 2015 GTI

    .00158 MF and 59% residual for 36mo, 15K/yr

    Thanks. What's the residual for 10k miles?

  • kyfdxkyfdx Posts: 29,370

    Add 3% to go from 15K/yr to 10K/yr

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  • ccasey1ccasey1 Posts: 15

    Request for June lease numbers, please. S model, DSG, 3 yr, 10k/yr. Thank you very much!

    -Chris

  • kyfdxkyfdx Posts: 29,370

    @ccasey1 said: Request for June lease numbers, please. S model, DSG, 3 yr, 10k/yr. Thank you very much!

    -Chris

    .00155 MF and 62% residual. All trim levels.

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  • gtiluvrgtiluvr Posts: 2

    Request for June numbers - 2 years, 36000 miles

  • gtiluvrgtiluvr Posts: 2

    Request for June numbers - 2 years, 36000 miles. Autobahn, DSG, all options

  • kyfdxkyfdx Posts: 29,370

    .00155 MF and 59% residual for 36mo, 15K/yr.

    .00155 MF and 66% residual for 24mo, 15K/yr.

    No 18K/yr plans that I know of..

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  • nolarebelnolarebel Posts: 12

    I went into negotiate with VW today, and they used the .00155 MF, but were saying a 61% residual for 36/mo. They said that their national residuals hadn't been released to the public, but they showed me some sheet that said it was 61% across all trims. Just curious why there's a difference between them and kyfdx's post above.

    They also refused to match another dealer's $1800 discount, because they claimed the car wasn't marked up and they said they could sell it at MSRP. They also low-balled my trade-in by more than half, so I walked out.

    Has anyone been able to get around $300 (w/o tax) with $2,000 down, or am I being too aspirational with my numbers? I found a dealer in Houston that's offer $1800 off the car.

  • kyfdxkyfdx Posts: 29,370

    I'd be really surprised if you could get $1800 off of a new 2015 GTI.. That's below invoice. If you get that offer, I'd take it, rather than shop it around.

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  • ccasey1ccasey1 Posts: 15

    61% is probably for 12k/yr? I talked to a Houston dealership and had the 62% confirmed for 10k/yr, but because the price was discounted they said the following:

    "Money Factor -2.83

    I did speak with the General Sales Manager about the info that you provided and he said that the program for that money factor has ended and he cannot discount the car $1,167 and offer the money factor from last month."

    I used that MF was .00283 to calculate the payment myself and got a bit over $500. I want to say the monthly payment I was quoted was $540 or so, but I can't remember specifically. It was so far from what I was expecting based on last month's .00158 MF that I didn't write it down.

    -Chris

  • MichaellMichaell ColoradoPosts: 5,874

    @ccasey1 said: 61% is probably for 12k/yr? I talked to a Houston dealership and had the 62% confirmed for 10k/yr, but because the price was discounted they said the following:

    "Money Factor -2.83 I did speak with the General Sales Manager about the info that you provided and he said that the program for that money factor has ended and he cannot discount the car $1,167 and offer the money factor from last month."

    I used that MF was .00283 to calculate the payment myself and got a bit over $500. I want to say the monthly payment I was quoted was $540 or so, but I can't remember specifically. It was so far from what I was expecting based on last month's .00158 MF that I didn't write it down.

    -Chris

    Based on the June information from VW, the 36 month, 15K per year residual for the 2015 GTI is 59%. Add 2% for 12K and 3% for 10K.

    However, I don't see any information on the base MF for the '15 GTI - hmmm.

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  • kyfdxkyfdx Posts: 29,370

    .00155 is the standard non-subvented money factor for VW for June.

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  • danduranddandurand Posts: 9

    I talked to VW sales friend in Chicago. He told me he's sold 5 2015s, all at MSRP, except one they discounted $200 for a multiple repeat customer.

  • nolarebelnolarebel Posts: 12
    1. What do you mean by non-subvented?
    2. What's the invoice on an Autobahn GTI?

    I'm going to take your advice and negotiate with the dealer that's offering that price, or maybe I'll just wait it out for the price to drop. Do you know how long it may take for the price to come down by $2k?

  • kyfdxkyfdx Posts: 29,370

    @nolarebel said: 1. What do you mean by non-subvented? 2. What's the invoice on an Autobahn GTI?

    I'm going to take your advice and negotiate with the dealer that's offering that price, or maybe I'll just wait it out for the price to drop. Do you know how long it may take for the price to come down by $2k?

    Non-subvented means market rate... for VW that is .00155 for June.

    The 2015 GTI has only been on dealer lots for less than a month... You couldn't get $2000 off a 2014 model until a couple of months ago.. If you are waiting for $2K off on the 2015 (a brand new model, not just one model year newer), you might have to wait until the 2016 models come out.

    I don't have the invoice numbers, but VW invoices are usually about 4% -5% under MSRP.

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  • nolarebelnolarebel Posts: 12

    Thanks a lot kyfdx. Really appreciate it.

  • nolarebelnolarebel Posts: 12

    @ccasey1 said: 61% is probably for 12k/yr? I talked to a Houston dealership and had the 62% confirmed for 10k/yr, but because the price was discounted they said the following:

    "Money Factor -2.83 I did speak with the General Sales Manager about the info that you provided and he said that the program for that money factor has ended and he cannot discount the car $1,167 and offer the money factor from last month."

    I used that MF was .00283 to calculate the payment myself and got a bit over $500. I want to say the monthly payment I was quoted was $540 or so, but I can't remember specifically. It was so far from what I was expecting based on last month's .00158 MF that I didn't write it down.

    -Chris

    I think we are talking to the same dealership, because the dealership I'm talking to in Houston just quoted me a .00283 MF, but the quotes they are equally highly. They are telling me:

    With $2k down,

    For 12k/yr, 24 mo, $659/mo, with a residual of $22,106 @ MSRP (68%), For 12k/yr, 36 mo, $546/mo, with a residual of $19,831 @ MSRP (61%),

    For 15k, 24 mo, $686/mo, with a residual of 21,456 @ MSRP (66%) For 15k, 36 mo, $563/mo, with a residual of $19,180 @ MSRP (59%)

    The residual percentages are estimates (they don't include the MF), because they didn't tell me what the price of the car was going to be, so I've emailed them back to get that number. Is it just me, or are these numbers really high?

  • kyfdxkyfdx Posts: 29,370

    Those numbers are really high.. Dealers know exactly what the money factors and residuals are.... any dealer that tells you differently is not being truthful.. They are trying to take advantage of buyers who are clamoring for a new model.. Just keep shopping (elsewhere).

    The nationally advertised lease for the 2015 GTI Autobahn model is $2349 due at signing and $359/mo. That is with MF of .00155 and residual of 61% for 36mo, 12K/yr.

    Just add tax, title and license.. That only assumes a discount of a couple hundred from MSRP.

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  • ccasey1ccasey1 Posts: 15

    West Houston VW, I think. I suspect that what happened was someone made a mistake in posting the discounted price on the web. I think I worked out that it would've been cheaper buying at MSRP and getting the .00155 than at the discounted price with the inflated MF.

    Anyway, I decided on a 2014 from a different dealership - North Park VW in San Antonio. Nice folks, fair prices. I close on Friday. Should be a lot of fun for a few years. Good luck with your hunt!

  • nolarebelnolarebel Posts: 12

    Yes, it was West Houston VW. The guy I spoke with said the discount was valid, but that they were going to make-up the price "elsewhere." I think I'm just going to wait it out.

  • eks83eks83 Posts: 2
    edited June 13

    One of my local dealerships (Northeast) is advertising lease deals for the 2015 GTI Autobahn as follows:

    MSRP: $32510

    Price: $32010 ($500 off)

    Lease Options:

    1.) $349/mo with $2999 down (36 months, 10K)

    2.) $439/mo with $0 down (36 months, 10K)

    Is this a good deal?

  • MichaellMichaell ColoradoPosts: 5,874

    @eks83 said: One of my local dealerships (Northeast) is advertising lease deals for the 2015 GTI Autobahn as follows:

    MSRP: $32510

    Price: $32010 ($500 off)

    Lease Options:

    1.) $349/mo with $2999 down (36 months, 10K)

    2.) $439/mo with $0 down (36 months, 10K)

    Is this a good deal?

    3000 / 36 = $83/mo, so with tax the two deals are similar to one another. We don't recommend putting money down on a lease - if the car is stolen or totaled, you are out that money.

    I don't have my lease calculator in front of me, but the MF and residual for the 2015 GTI is .00155 and 62%.

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  • arexreearexree Posts: 23
    edited June 24

    I know this forum is for 2015 VW GTIs, but I didn't know if anyone would respond to the 2013 GTI forum. My local dealer is offering a special on a new 2013 Volkswagen GTI 4DR HB DSG Driver's Edition PZEV for a sale's price of $25,995 (off of $31,860 MSRP). I would be leasing/registering the car in Connecticut.

    For a 36 month, 12K miles/year lease, what would be a fair MF and residual? Do you think I could negotiate a lower sales price?

  • MichaellMichaell ColoradoPosts: 5,874

    @arexree said: I know this forum is for 2015 VW GTIs, but I didn't know if anyone would respond to the 2013 GTI forum. My local dealer is offering a special on a new 2013 Volkswagen GTI 4DR HB DSG Driver's Edition PZEV for a sale's price of $25,995 (off of $31,860 MSRP). I would be leasing/registering the car in Connecticut.

    For a 36 month, 12K miles/year lease, what would be a fair MF and residual? Do you think I could negotiate a lower sales price?

    .00155 and 47% for 2013 GTI.

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  • arexreearexree Posts: 23
    edited June 24

    @Michaell said: .00155 and 47% for 2013 GTI.

    Thanks Michaell. Could you explain to me how the MF seems to fluctuate so significantly for the GTI? I know back in late 2013 it was around 0.00013-0.00015. Is it simply because the car is older? Or perhaps VW just sets the MF on whatever basis they want? I wonder if it would be a better deal to wait for a lower MF on a 2014 model. Thanks in advance.

  • MichaellMichaell ColoradoPosts: 5,874

    @arexree said: Thanks Michaell. Could you explain to me how the MF seems to fluctuate so significantly for the GTI? I know back in late 2013 it was around 0.00013-0.00015. Is it simply because the car is older? Or perhaps VW just sets the MF on whatever basis they want? I wonder if it would be a better deal to wait for a lower MF on a 2014 model. Thanks in advance.

    I would guess that on the 2013, the dealers don't have much inventory and there isn't a huge incentive to move them, so the MF is higher.

    You can wait to see what happens to the numbers next month, but they could as easily go up as go down.

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  • kyfdxkyfdx Posts: 29,370

    I don't think you'll find a good lease deal on a 2013 model. There are pretty good deals on 2014 models, right now. You can easily do $3500 off a loaded one..

    I'm not sure I'd even want to buy a new 2013 model, when I can have the comparable 2014 model for just $2K more.

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  • arexreearexree Posts: 23

    @kyfdx said: I don't think you'll find a good lease deal on a 2013 model. There are pretty good deals on 2014 models, right now. You can easily do $3500 off a loaded one..

    I'm not sure I'd even want to buy a new 2013 model, when I can have the comparable 2014 model for just $2K more.

    Very grateful for your responses Michaell and kyfdx. You guys were also completely right as the dealer wanted to charge me close to 5% MF on the 2013 Driver's Edition... outrageous. With the 0.00027 MF on the 2014 GTIs, I'm going to try and strike a deal before the end of this month. I don't want the MF to slip away from me in June.

  • bakayarobakayaro Posts: 2

    Hello, I've been following this thread as I am also looking at leasing a 2015 GTI - my local dealer has one on the lot at $26,810 MSRP (it is an S with 6-speed manual and just has the lighting package). What is the best lease deal I can get right now? I don't want to put anything down - can I get the advertised national lease offer of $299/mo for 36mo/12k yr?

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