2013 and earlier Volkswagen Jetta Lease Questions

jgirl6

Maybe it has to do with where you are located. I am in NY out on Long Island near Huntington.
When you were quoted this did you have to do alot of bargaining or does it have to do with me being the young female, and all they see are $ signs? They, the salesmen, keep saying there is a low profit margin on these cars (which I believe) and that the car determines the money factor (which I think is bs). Maybe part of it does, but there's got to be more to it than that.

The residual value for 15k is the same as what I have been told but I can not get any straight answers on the money factor (which I believe should have more to do with financing company not the dealership)

Does anyone know if this information is online somewhere? Very frustrated....

jgirl6

rhett78

jgirl6...I don't know whether the area of the US has anything to do with lease factors. I am making the assumption that VW Credit treats all the dealers the same.

I negotiated my entire deal online without going to the dealership. Also, I got a price that appears to be below dealer cost, $21,500 for a car that has a MSRP of $23,524, no out of pocket expense other than tax, title & state license fees, and VW is making my first payment. The dealer has 20 plus Jettas in inventory with more enroute, so I took that into consideration in my dealings with them. I think you are correct that the residual is pre-set by VW Credit, but I honestly don't know if the dealer has any control over the money factor. The money factor quoted me is less than car_man suggested in his response to my question, and I think he is a quality source of information. I have seen several inquiries about finding this information online somewhere, but I don't believe VW credit makes this information available to the public anywhere.

I might consider attempting to make a deal with another VW dealer in your area and see if you get the same numbers. I would consider doing it online, and they will not know about your age or potential inexperience. You already have a wealth of information at your disposal, and hopefully you could use it to your advantage. I hope you will keep us posted on how it goes. If I can help I would be glad to do so.

Let me know your dealers name...

jgirl6

rhett78
I found this "When you lease, the dealer makes the financial arrangements, on your behalf, through a bank or "captive" finance company such as Ford Motor Credit. You don't have to lease through a dealer any more than you have to finance a purchase through a dealer. Dealers only sell cars; they don't lease or finance purchases."
"Since the dealer expects to make an additional profit on the lease deal he selects for you, you may be better to arrange the lease yourself with an outside lease company."

So are you going to get the car through the internet? Who did you use?
The dealers I have seen in my area are
Smithtown VW, Riverhead VW, Legend VW in Amityville, Donalsons in Sayville, Crestmont in Pompton Plains NJ, Curran VW CT. As you can tell I have been all over.

The $ was on the 2009 Jetta Wolfsburg AT correct? Did it have any options?

jgirl6

Hey car_man any advice or thoughts?

rhett78

jgirl6...I appreciate the information you found on leasing. In this particular instance, I think VW credit is providing a subsidized lease format to the benefit of the dealers to stimulate otherwise sluggish sales. The majority of time you purchase or lease a car from a dealership, the Finance Manager/Rep at the dealership is dedicated to providing additional profit for the dealership through the finance program. They add an additional interest per centage to the finance program that is paid back to the dealership. I don't believe that this is the case with the Sign then Drive program, currently being offered by VW.

I will be going to the dealership to finish the paperwork and take delivery. I made the entire deal through email with the internet manager at the dealership. It was indeed a Jetta Wolfsburg Automatic with the drivers kit, which includes mats and the rear lip spoiler.

As I previously suggested you made want to consider making contact through the internet with another dealership and see if you can make a better deal for yourself. You can always use a "another identity" to make a new contact.

Car_man may have other suggestions.

tanchild

I brought my 2001 Jetta (108,000) miled in to replace coolant temp. sensor. My service engine light was flashing. The service advisor called me up and said, "bad news" your Jetta has engine problems and internal motor problems, prob. rings but need to check further." He said it would be over 5 g to fix and that it would not be worth it. He refered me to sales and they further said I know you are in a desperate situation and we will give you 3,000 for the car and the following if you want to lease...

He said the MSRP for a new JETTA SE is 21869.
He offered me the following lease and will not budge on the numbers.
278 a month for 39 month lease
282 for a 36 month lease
this is with my 3,000 ("broken" car)

I said to come down on the numbers and he said he would not and he was trying to help me out.

Today I went and got my car out of service and it had to be jumped to start b/c it needs a new battery but other than that it ran fine and the service engine light was not blinking.

Should I give in to the price or wait? Or replace the battery and shop around and hope that another dealer will offer me 3,000 for my car?

PLEASE ADVISE!!!!!!

ctaloi

Hello,
I was quoted the following on a 2008 VW Jetta Wolfsburg and am wondering if it's a good deal.

MSRP $22,950.00
Sale Price (Cap Cost) $22,488.00
Down Payment / Cap Cost Reduction $0.00
Term 36
Money Factor 0.00107
Residual % 59%
Local Sales Tax 8.00%
Acq/Bank Fee $575.00
Doc Fee / DMV Fee / tire fee $217.50

Due at signing - $1,165.96 (includes first month payment and fees)
Monthly Payment - $287.09
Monthly Payment w/tax - $310.06

Edmund's shows the following:
MSRP w/options - $23,075
Invoice w/options - $21,830
TMV w/options - $22,344

My sale price is $22,488 - which shows $658 over invoice

Thanks!

johndude

That is an awful deal!! We are heading for a depression, the dealer should be giving it to you WAY BELOW the invoice price period! We bought a new 2008 exactly the one you are looking at for $21,500 and with a special rate of 2.9% for 48 month loan. That was 5 months ago. If I were to do it now, I would not pay over MAYBE $19,000 or I would wait a few months and offer $15,000 (if the dealer is still in business that is). The economy is going to get allot worse. I suggest you buy a used TDI and convert it to vegi oil or better yet convert to using alchol and distill your own, I am 100% serious!! Good Luck!! Also, do not put one penny down, not one, especially if you are leasing..that just goes into the sales guys pockets!!! :confuse:

ctaloi

Thanks for the information - I also have the following quote, which seems a bit more reasonable:

2009 - Wolfsburg
MSRP $23,574
Invoice Price $22,296
Sell Price $22,400 (dealer says he's $200 below invoice, but I'm not seeing that here)
Term 39 months
MF .00318
Residual 63%
Monthly $363
0 down / sign and drive

I think if we figure out what the discrepancy is on the invoice vs sell price the deal is a bit better then the first.

Thoughts?

rhett78

Ctolia...Where did you get the invoice price of $22,296.00? I have not found a web site that offers invoice pricing on the Wolfsburg. Also VW charges many metro dealers a advertising fee shown only on the dealer invoice, not included on any web sites. I had been quoted a lower money factor on my lease earlier in the month, and asked another dealer why the difference in what he was quoting, and he advised that the money factor went up after the sign then drive program went into effect. Does your zero down include your tag, title and license fees? If it does then this would appear to be a pretty good deal, in my opinion.

hlcastelo

I am in South Florida. I have been quoed $336 per month (before sales tax) for a 39 month lease 12,000 annual miles. CAsh outlay is $2000. Money Factor .0026. MSRP is $24,268. Residual is 62%. I see other residuals are in the ball park. The money factor may be high. Can't figure out if they have any other fees besides dealer prep. Is this monthly payment reasonable. Am told it is a standard VW offer on the TDI.

airmilt

Hello everyone!
I have a few questions. I am interested in the 2009 Jetta S. I was at the dealer this w/e and they told me it does not have the leather option. When I go on the VW website, I see that the option does exist. Can anyone tell me if the dealer was just trying to steer me to the SE? Thanks.

CarMan@Edmunds

Hi jgirl6. Volkswagen Credit sets the money factors for vehicles, however they very by credit tier. One's credit has to be in pretty good shape to qualify for its top credit tier and therefore qualify for the best money factors. Furthermore, dealers are allowed to "mark-up" VW Credit's buy rate lease money factors to add additional, hidden back-end profit to deals. VW Credit's current buy rate lease money factor for a 36 month lease of a 2009 Jetta Wolfsburg Sedan is an unattractive .00300.

Car_man
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CarMan@Edmunds

Yes, jgirl6, VW Credit's money factors do vary by model. The Wolfsburg's money factor is currently the highest (worst) of all '09 Jetta models.

Car_man
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CarMan@Edmunds

Hello hlcastelo. The residual value that you were quoted is right on the money. VW Credit's current buy rate lease money factor for a 39 month lease of an '09 Jetta TDI Sedan is 00300. It's good that you have the MSRP of the car that you are interested in, but you really need to find out its selling price as well. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without the selling price, it is difficult to tell how much of a discount you are being given on the car that you want and in turn if there is any room left to negotiate.

Car_man
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CarMan@Edmunds

Hi airmilt. I am under the impression that the Jetta S is not available with factory-installed leather as well, so I believe that the dealer is right. For more information on the Jetta and what options are available on what trim levels, try stopping by the New Vehicle Pricing section of Edmunds.com.

Car_man
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jgirl6

The lowest MF I was quoted was .00318 and then I was advised, as of October 10th, the sign & drive, 39 months at 12k per year, special they make the 1st months payment but I was also told the rate increased to 8%. Is this possible?

My problem is I want the 2.0 liter turbo (only in the Wolfsburg), i currently drive a 2006 Passat. Its a lease I'll be turning in. Also whats limiting me is I want the manual transmission, and a certain color combination (Platnium Gray/Gray Interior) I believe this is not helping my situation. The several dealers in the area say they are far and few between.

jgirl6

Does anyone know of this company? They are an auto leasing dealer.

Or can I use them to negotiate a better rate with the dealer, Smithtown VW.
Help i need to know how to handle this. The MF is the # the dealer seems to be the least flexible with.

jgirl6

skylab

A friend of mine is coming off lease on her Jetta and wants to re-up. Of course, she's left it to the absolute last minute. Could anyone provide the current VW 48-month rate/residual on the manual SE sedan so I can try and make sure she doesn't get marked up too far? Many thanks.

molson2

my girlfriend leased a 2009 jetta. The dealer raised the price of the car to get a lower monthly payment. They said her credit was in question eventhough it is 670-690. the raised it to get a lower money factor rate. Does this make sense? Your help would be appreciated. Thanks

hlcastelo

Thank you Car_man. I have shopped around and have found lower cash out the door basically down to cash for only tags, title and first monthly payment (as low as $510). It seems they still want to limit adjustment below MSRP but it is getting harder for them to do so for two reasons: 1) price of diesel is now back below mid and premium unleaded and 2) I don't think VW sales are that much better than other car brands. Hoping to close deal by month end but looking at lower cash to sign at this point.

CarMan@Edmunds

Here you go, skylab. VW Credit's current buy rate lease money factor and residual value for a 48 month lease of a 2009 Volkswagen Jetta SE with 15,000 miles per year are .00298 and 52%, respectively. If your friend was to lease with only 12,000 miles per year, this car's residual value would be 2% higher.

This month, Volkswagen is providing a special $500 cash incentive on leases of '09 Jettas that have manual transmissions. Also, it is waiving the first month's payment and security deposit on leases of all '09 models. Make sure that your friend is aware of these offers before negotiating with any dealers.

Car_man
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CarMan@Edmunds

You're welcome, hlcastelo.

Car_man
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hlcastelo

Hello Car_Man. I'm to read your email. HOw can I get more info on the $500 incentive for leases of Manual Jetta. I'm ready to lease a manual TDI. I have talked to three dealers and none have mentioned. Would like to have some proof to shos.

Also, I what I expect for money factor (would it vary by location- I'm in South Florida) for 39 mos lease. Also would you know residual with 12K and 15K miles.

Thank YOu.

rhett78

Car_Man, thanks for all your input to the forum. Can you please provide some additional information on this $500 program? I am about to close on a lease for a 09 Jetta Wolfsburg, and would like to take advantage of this additional $500 incentive.

jgirl6

Is this only onthe Jetta SE? I am looking at a manual in the wolfsburg

jgirl6

You did not get the car you mention in the earlier message you posted? what happened? I had the quesiotn as you on the wolfsburg.

jgirl

jgirl6

Is this for a 2008 or did you mean 2009?

rhett78

jgril, I am waiting until the end of the month to take delivery of the 09 Jetta Wolfsburg automatic, as my current lease ends in Mid November. I understand that the sign then drive program expires 10-31-08, but with the very slow sales throughout the entire market, I believe it is a reasonable expectation that VW will improve the numbers on the sign then drive program, perhaps by lowering the money factor. I am anxious to hear back from Car_Man about the $500 he mentioned in a earlier post.

Where do you stand on getting your car? I also got info from another dealer that there was a $595 "bank fee", which I think is just a ploy to extract more money from the deal. No other dealer that I contacted has asked for this fee. Have you been asked to pay this amount in conjunction with your lease quotes? :confuse:

airmilt

Thanks carman. Looks like we might be going w the 2009 SE , automatic, w the leather. Do you think you might be able to let me know the residual value for 39 mo lease w 10k miles and also the top tier money factor. I just checked my credit score to be sure, 743. Thanks

jgirl6

The standard bank fee (also known as an acquisition fee) is a valid fee imposed by VW finance and as I understand it is non-negotiable. The other dealers probably have it in there somewhere or maybe are eating the cost on their end, I am not sure. All the quotes I recieved included this fee in the out of pocket costs, and my lease turn in also had this fee. The number I have on this though is $575. Hope this helps.

As it stands the Smithtown Dealer got the car and color combo (platnium gray/gray interior) in a manual from a dealer in PA. All the dealers in the area were pretty close in the numbers, sales price, money factor, residual value. ($21,684 12k/yr 39 months mf .00318 top tier credit (which I understand is 720 + on your credit score), and the residual value is 14k and change) Even though I went to several dealers I wasn't really able to get some unbelievable deal. I was hoping I would have. I assume, which we all know what that means, the deal is fair. Any thoughts?
I probably would have gotten better numbers if I was not so specific on the car, it was already on the dealers lot, had been there a while, and if there were a lot available (manuals seem to not be as easy to come by in the Wolfsburg)

They are checking my credit but have not signed the lease yet, plan to this Thursday. Still not sure I am getting a good deal but I am pretty much worn out.

Any word on the $500 incentive or anything coming in November, since I have not signed the papers (does the credit application count?)
jgirl6

bvdj84

I am pretty sure they'll keep some kind of incentive on the VW, as they usually do, and do it for a couple months. Though, I believe the best time was back in the spring, there were some amazing deals.

I am wanting either a Jetta SE or preferrebly a Wolfsburg edition. Also, high on the list is an Accord EX-L. Which ever has the best deal.

rhett78

jgirl6...The deal I have found that does not have a bank fee or acquistion fee. I am paying only the state Tag, Title & Tax at closing based on MSRP less the freight charge, with VW picking up my first payment as part of the sign then drive program.

I don't expect the get the $500 incentive that Car_Man identified, as I am getting a Wolfsburg Automatic. It would appear that you would benefit from this $500 as I understand it, you are getting a manual transmission. It appears that the money factor you are being quoted for Tier 1 is higher than Car_Man identfied at .00300. He also indicated that the dealer could pad this number at the dealership for additional profit.

Have you determined where your purchase price/cap cost is in relation to the VW invoice price? My purchase price is below invoice, as the dealer is giving up most of his "holdback" money to make the deal. The holdback is 3% of MSRP, and is defenitely in play in this market, in my opinion. It may not be available to you on your deal, as they are transferring your particular vehicle from another dealer. VW is still manufacturing cars and shipping them to the dealers, and they need to move the ones they have in stock off the lot to make room for the incoming inventory.

I am stronly considering "rolling the dice" and waiting until November 1st to see if VW improves the program. I could loose the deal I have now, so I'm up in the air as to what to do. :confuse:

bvdj84

I see them keeping some kind of incentive now. In the past, they have run an event or special for a couple months. I think it would be good for them to keep something in place for the economy, and this time of year. But, the best time was last spring, I could have gotten a Passat of $29k for the same price as a Jetta, But, I liked the Jetta better. I know, I like the passat, but its interior was drab compared to the Jetta.

CarMan@Edmunds

Hi hlcastelo. Unfortunately, the $500 cash incentive on leases of 2009 Jetta Sedans with manual transmissions is not available on diesel or GLI models.

As far as this car's lease program goes, VW Credit's current buy rate lease money factor and residual value for a 39 month lease of a 2009 Jetta Sedan TDI with 15,000 miles per year are .00320 and 59%, respectively. The residual value for a lease of this car with only 12,000 miles per year would be 1% higher.

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jessy1

If I were you I would go to another vw dealership for service, not reveal that I had been somewhere else, and see if the find the same 'problems' as dealer #1. Then you can tell if they were honest.

jgirl6

Car man
Does the $500 apply to the 2009 Wolfsburg with a manual transmission? Also has the MF on the Wolfsburg increased? The Dealerships on Long Island (I have been to several) state it changed with the Sign & Drive program and its now at .0318 rather than the .0300. :confuse:

Do you see any specials coming up for November?

jgirl6

CarMan@Edmunds

Yes, jgirl6, the $500 incentive for Jettas with manual transmissions is available on the Wolfsburg. I believe that VW Credit's lease money factor for a 39 month lease of this model is .00318 and that its 36 month factor is .00300.

It is difficult to say what Volkswagen's November lease program will be like. A lot will depend upon how successful its current "Sign Then Drive" promotion is at whittling down dealer inventory in October.

Car_man
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jgirl6

What happens if you come in at a B tier rate?
I have 3 years of, on time, lease payments (turning in my 2006 passat lease) Do you think VW credit would take this into account and extend me the courtesy for my MF (the dealership is not helping)

jgirl6

Car_Man
On the 2009, manual, Wolfsburg lease

The Long Island, NY dealerships for the most part quoted me;
MSRP 22,673.00, Invoice 21,600.00, Residual 14,510.72
MF .00318 (sign & drive), 12k/year 39 months
With 2k down, and I found out I only qualify for a B tier rate
(what is the B tier rate? my credit score is 685)
Payments +/- 321/month

I need to be at +/- 300/month, and have no additional $ to put down

There seems to be $1,000 between me and the car and the dealers do not want budge. They say the have no money in the car to do this.

Am I being unreasonable in looking for this?
(also the car comes with the wing spoiler & mat kit, which i do not even want)

Help

hlcastelo

This past weekend I lease a manual TDI with optional equipment 36 mos, 15k miles for about $30 less per month than VW's rate. Down payment was $550. Lease is carried by a local branch bank. It may be that VW rates are more competitive with the non-TDI models. For TDI their money factor is too high. Although my lease is 3 mos. less than VW's program I did get 3000 extra miles a year from the standard VW lease. Lesson here is inquire about local bank financing as an option.

intelman

I leased for 39 mos, $1999 cap cost reduction. 12,000 mi/yr. Residual is 61 %. Payment is less than $300. 1st month payment by VW.

After driving the car for 3 days, I really like it. My first fillup got 26 mpg. The front seats are very comfortable. I like the upgrades over the S version including sunroof, leather seats, leather steering wheel, and 6 CD / Sirius Stereo System. I have the 6 speed tiptronic automatic transmission. Dealer is Hatfield in Columbus, OH.

CarMan@Edmunds

Hi jgirl6. The dealership is the intermediary between you and Volkswagen Credit. If the current dealer says that you don't qualify for VW Credit's top credit tier, you probably don't, but it probably wouldn't hurt to comparison shop with another dealer to see if there is anything that they can do for you.

Car_man
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CarMan@Edmunds

Hey jgirl6. See my previous post about credit tiers. As far as this lease goes, you mentioned this car's MSRP and dealer invoice price, but never its selling price. Are you getting this car at invoice? The lower its selling price is, the lower your monthly payment will be.

Have you tried comparison shopping with another dealer or two?

Car_man
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CarMan@Edmunds

Thanks for sharing, hlcastelo. I'm not surprised that you were able to get a better lease on the Jetta TDI that you are interested in by leasing through an independent bank. As has been mentioned here, VW Credit's current money factor for it is not great.

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CarMan@Edmunds

Congratulations on getting your new Jetta, intelman. Thanks for taking the time to share the details of your lease with everyone. If you'd like, you can hop on over to the Dealer Ratings & Reviews of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

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rhett78

Car_Man do you have any updated information on the November Residuals and Money Factors for the Jetta Wolfsburg automatic's?

Many Thanks for all your input to the forums.

CarMan@Edmunds

You're very welcome, rhett78. Volkswagen Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2009 Jetta Wolfsburg Sedan with 15,000 miles per year are .00312 and 61%, respectively.

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jayrider

Car man ---- On a scale from 1-10 [10 best], rate these lease factors.

bubbli1

Hello car_man,

So after a lot of research and test-drives, I finally just bought a 09 Jetta Wolfsburg edition, automatic for 21,600. Just wanted to know if I got a good deal. I think I did, but I'm no car expert. Any thoughts would be appreciated!

Thanks!

bvdj84

May I ask what your deal was? Like what is your payment, what terms? I am looking to get one myself.