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2013 and earlier Volkswagen Passat Lease Questions

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Comments

  • uclaticouclatico Posts: 2
    Sorry, I know there must be a million questions like this. But I just had twins and don't have time to research too long about the best deal. Here's a quote I received. Please let me know if you think it's fair:

    2010 VW Passat Wagon
    4,000 down (my choice because this portion is a gift from a family member)
    36-month lease, 10,000 miles per year.
    No options.

    Total: $373.12

    It seems like there's room for negotiation, but if I had a number in mind or I can say that I know that this is considered high, that would help.

    THANK YOU SO MUCH!!!!
    -New sleepless dad.
  • jayriderjayrider Posts: 3,341
    Sell your tl to carmax or the dealer and put the cash in the bank. Then negotiate the lease on the passat with everything rolled into the lease. Do not apply the trade in money into the lease. You are probably better off trading your tl in to purchase the passat. There are good deals on buys -- not so good on leases.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings sleepless dad. As a father of two, I can sympathize ;) . It must be even harder with twins.

    The easiest way for us to evaluate this deal would be to take a look at the MSRP and selling price that this lease is based upon. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. These numbers make it easier to see how much of a dealer discount you are being given and if there is any room left to negotiate.

    If you can't get these numbers, at least provide us with the MSRP and dealer invoice price of the exact car that you want (available here) and we can work up a lease payment for you using VW's actual program that you can use as a point of reference.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • uclaticouclatico Posts: 2
    Thanks Car Man. Still not getting much sleep, but we are slowly getting the hang of parenting.

    The quote was based on an MSRP of $29,505 and a sale price of $27,548.

    Thanks!!
  • jayriderjayrider Posts: 3,341
    Overstock is providing me a quote of 3k off msrp -- check it out.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem uclatico. Thanks for the additional information. This car probably has a spread of a little under $2,000 between its full MSRP and its dealer invoice price. Let's call it $1,900. Add to that the $500 cash incentive that Volkswagen is currently providing on leases of the 2010 Passat Wagon and you have a total of around $2,400 to play with in your negotiations.

    The selling price that you were quoted appears to be right around $500 over invoice, which is a pretty good deal. Just make sure that the dealer uses VW Credit's buy rate lease money factor of .00019 to calculate your payment and you're in business.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • nosfera2nosfera2 Posts: 2
    Jayrider: Thank you for your feedback. I'll get a quote from Carmax and see how much the dealer would give me if I decide to sell it to them.

    As for overstock, I never knew they have car deals. They certainly are about 3k off MSRP, is that a real deal? Anyone have any experience with cars.overstock?

    Thanks again :)
  • jayriderjayrider Posts: 3,341
    Overstock gives you a way to contact the dealer-- costs zero to check. Or take the price to another dealer and see if they will match it.
  • billybobiibillybobii Posts: 6
    What is a reasonable lease for this car at the moment?

    Thanks

    BB
  • nom2nom2 Posts: 13
    Car man-

    I'm looking to lease a 2010 passat wagon.
    Can you please tell me the May MF and res for 36mos and 12k miles?

    Thanks,

    Nom
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi billybobii. This car's lease payment will vary depending upon a number of terms, including how long you want to lease it for, what mileage allowance you need, and how you want it equipped. I would be happy to use VW Credit's current lease program to work up a sample lease payment on the exact Passat that you are interested in for you if you provide me with this information along with its full MSRP and approximate selling price (or at least its MSRP and dealer invoice price). You can find that pricing data over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Nom. Here's the information that you're looking for. Volkswagen Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Passat Wagon with 12,000 miles per year are .00019 and 44%, respectively.

    When negotiating your deal on this vehicle, make sure to take advantage of the $500 cash incentive that is available on leases of it through VW Credit.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • bodidbodid Posts: 87
    Car Man,

    Please provide MF and Residual for 36 mo./10K and 12K miles lease out of NY

    Thanks,

    Bo
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, Bo. Volkswagen Credit's current buy rate lease money factor and residual value or a 36 month lease of a 2010 Passat Sedan with 12,000 miles per year are .00054 and 45%, respectively.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • tiflorinskytiflorinsky Posts: 7
    edited June 2010
    Hi Car Man,
    Many thanks for the help you're providing to all of us.
    The lease quote i got from a dealer out of NYC:
    Sticker price: 28144
    Sell price: 25620
    Term: 36 months
    Allowance: 10k miles/year (it was my option based on projected usage pattern)
    Taxes and bank fees included in the monthly payment.
    Due at signing: first payment and DMV tax
    Monthly payment: 422
    Monthly payment2 (same terms - 12k miles/year):430.
    I didn't get to ask about MF and RV yet, but, based on the numbers provided how does it look to you so far ? :confuse:
    The car is plain vanilla, with no options.
    Thanks in advance for your time.
  • jayriderjayrider Posts: 3,341
    edited June 2010
    Your purchase price is 1k too high --- that means $30 lower per month if everything remains the same. Watch out for dealer fees and stuff that may not be included. If you can get the passat for 392 then you got an ok deal. Passats are being revamped and for the most part aren't great leases. $392 with taxes isn't too bad. Find out what the mf and rv is to make sure you have the correct numbers.
  • tiflorinskytiflorinsky Posts: 7
    edited June 2010
    Jay, you're great! Your feedback is much appreciated.
    Now i have a completely different prospective.
    Many thanks again.
  • jayriderjayrider Posts: 3,341
    By the way, I test drove a new passat and really liked everything about it. The wagon was awesome.
  • Jay,
    Are we on the same page?
    I am actually running the numbers on a lease calculator using a MF of 0.00054 and RV of 45% (numbers provided by carman) and i don't get to the same results.
    Please advise.
  • jayriderjayrider Posts: 3,341
    edited June 2010
    Never worked your lease numbers -- just went by the payment. What is the msrp-cap cost [zero down] before tax and inception fees? Also how many miles and months.
    Used 28k msrp and selling price of 24309 which includes destination. The number I come up with is $345 before tax and inception fees. Based on 36 months -- don't know what miles you figured.
    The price is on overstock for the st. louis,mo area. NYC should be at least as competitive.
    Just for fun --mattieimports has a passat for 362 -36 months-10k miles per. Only thing due is around 200 plus 1st payment. You would be responsible for ny tax and license. They will deliver it free to you I think. Service any vw dealer.
  • Thanks again jayrider. The miles i was considering are 10 k and 12 k - i asked for quotes for both and they are included in my earlier posting. The months are also mentioned in my previous message: 36.
  • jayriderjayrider Posts: 3,341
    Just remember to get the best price before you stat to run the numbers. Good luck .
  • Jay,
    I actually got a quote today that's based on the numbers that carman provided for MF and RV.
    They ask for 399 a month for the 12k/year option and 391 for the 10k/year.
    According to the dealer, the bank fee and the tax are rolled into the payment.
    They are asking me for about $170 (misc fees) on top of the first payment upfront.
    How does it sounds?
  • jayriderjayrider Posts: 3,341
    edited June 2010
    What was the msrp and what was the discounted price ? It sounds pretty decent if it is the color you want. Advise going with the 12k miles --- that way if you take a few trips you will be covered. Subtract all the taxes and fees out of the payment and see how close it comes to 1% of the msrp.
    In Illinois I'd have to pay $410 for a 10k mile lease with tax so you deal looks better than average for sure.
  • mstorer5mstorer5 Posts: 3
    Hey guys...thanks for all the advice and guidance. So for the price of the car, what's a good target compared to invoice? Say it's MSRP $28494 and invoice of $26648. What should I really pay? And for clarification, what's the MF and RV on the sedan for 36 months/12K? One last thing, anybody have an inclination if the lease rebates will remain for July or even get better? My current lease is up in a month, but wondering if I should pull the trigger now to be sure? Thanks again for advice.
  • Thanks to the numbers provided by carman and the advice from jayrider i've been able to close on 6/30 for $391/mo with 12k/year and less than $700 upfront, including first lease payment. MSRP: $28144/ Negotiated: $24232/ MF: 0.00054/ RV: 45% I have to mention that the cash upfront would have been lower by $120 if plates were transferred - in my case they were new plates. Please keep in mind that all the numbers are based on your personal creditworthiness. My shopping experience at Palisades VW was great and I am warmly recommending this NY area dealer.
    Best of luck to the ones still shopping around.
  • jayriderjayrider Posts: 3,341
    Congrats on your new ride. The passat I drove was great. Enjoy 3 years of euro-sedan with free service and no repair issues. :)
  • carrinocarrino Posts: 39
    Just want to know if this is a good deal. 2010 cc sport, ipod, chrome tips, 600.00 out of pocket, 15k miles yr,3year lease and rolling in 3 months payments on a 2006 passat of 436.56. my payment would be 399.00 month.. what do you think?
  • jayriderjayrider Posts: 3,341
    If you go 45k miles you will be out of warranty and responsible for repairs - tires on a car you don't own. The 40k service is major bucks -- plugs- trans fluid etc. Get the 12k lease or buy the car with a 60 month loan.
  • carrinocarrino Posts: 39
    Thanks for your input. On my 2006 passat i have 15k miles yr on a 4 year lease and even though I am out of warranty all I ever put on this car was tires and rear pads. I understand the warranty is 3 years but every where I call they cannot beat this deal.
This discussion has been closed.