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2013 and earlier Volkswagen Passat Lease Questions

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Comments

  • kyfdxkyfdx Posts: 27,667
    Well... the $1500 is coming from VW, not the dealer.. so, the trade-in value shouldn't be any different from what it would be, otherwise..

    That's not saying that it will be wonderful.. But, usually, on models that need incentives, dealers want to move the metal..

    Just like any other car deal.. you have to keep your eyes open.. :surprise:

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jaxs1jaxs1 Posts: 2,697
    Sometimes dealers have to put money up towards "participating" in these deals. In that case, they will want to try to make up the money from your trade. It's easy to get a very lowsy value in a trade-in from any dealer anyway, but this looks like it would only make it even more likely.

    Even if the dealers put $0 in dealer participation towards the promotion, it is an excuse for them to give you less and say don't worry about it because you're getting the $1500 incentive from VW. You will never know if they gave you $500 or $1000 less than they should have for your trade-in.

    Trade-ins make for very messy deals with the dealers playing-games shuffling dollars around both sides of the transaction.
  • kyfdxkyfdx Posts: 27,667
    I agree..

    I rarely trade a car in.. But, the reality for most people, is they have to trade in their current car to do the deal..

    VW has a pretty good lease program on the Passat, even without the trade-in thing..

    I'm surprised, though... Most loyalty or conquest programs only require that you have the car registered in your name..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jaxs1jaxs1 Posts: 2,697
    I don't have one of the qualifying cars to trade in anyway, but I look with skepticism at the low payments of people post saying they put "no money down."
    They may be unaware that they're are really making a "silent cap reduction" from an undervalued trade-in to get the cheap payments with this VW deal.
    Money sucked out of the trade-in or money spent by writing a cap reduction a check to the dealer is still the same net loss to you.

    I'd like to see if the deals are that great when no trade-in is involved.
  • bvdj84bvdj84 Posts: 1,721
    Well, to my discovery my trade in value has dropped alot within the several months and perhaps because the 08 Accord is out, but my retail value has held at or around the same amount... and actually if they dealer went by KBB, I would lose money on the trade since its value is even lower on that. So really, what is my value...lol.. It could be many factors, just look at the economy. The 06 Accord I am trading is a lease, I don't own it, but the actual dealer is giving me more trade than what KBB is... and I am literally slightly under my payoff, so who can actually say that... Not many!
    I am in great shape, and my dealer has treated me very well, and I have been trying to decide the Passat going on 2 weeks and they have been very understanding, its a big deal, but I am not sure I can pass up the Passat for what it offers for a lease, and money required. The Accords are way toooo expensive for a lease!! It is frustrating, but there is nothing I can do, but seek other options that are more down to earth. After all the Accord will always be there!
  • micosilvermicosilver Posts: 212
    don't have one of the qualifying cars to trade in anyway, but I look with skepticism at the low payments of people post saying they put "no money down."
    They may be unaware that they're are really making a "silent cap reduction" from an undervalued trade-in to get the cheap payments with this VW deal.
    Money sucked out of the trade-in or money spent by writing a cap reduction a check to the dealer is still the same net loss to you.

    I'd like to see if the deals are that great when no trade-in is involved.


    You know, it seems like you look with skepticism at everything.
    Dealers are out there to steal your trade, the trade is undervalued, money sucked out...
    If you find a reputable dealer, approach him with honesty, optimism and do your research - you will be very happy. I mean one will be very happy, I don't think you personally are capable of being happy.
    If you want to buy a Passat - dealer will be glad to sell you one. Trade-in assistance doesn't come from dealer's pocket, it's from VW credit, and if I can make a customer happy with another $1,700 - I will do that, I cannot hide that money anyway.

    Mico
  • selmselm Posts: 122
    I wanted to summarize what I have gathered in reading prior posts about the current lease program. Hopefully I will be corrected if I am wrong:

    -36 month/36K miles lease on the sedan has a 50% residual and a money factor of .00023
    -I own a Passat so that gives an additional $2000
    -There is $750 additional money that I should try to negotiate.

    Onto my outstanding questions. I have never done a sign-drive $0 down lease. In my prior lease experence with BMW I am used to paying an acquisition fee, a security deposit, and the first month's payment up front. I would like to compare a new 328i lease with the passat, but to get an apples to apples comparison, I need to know the following:

    -What is the vw acquisition fee?
    -Is there a security deposit required. If so, how is it calculated?
    -Do vw leases include gap insurance?
    -Is there a disposition fee at the end of the lease?

    Thanks for all of your help.
  • kmhawkkmhawk Posts: 3
    FYI - I did NOT have a trade in and still got a great deal on the lease of a Passat Komfort (with heated seats and ipod adapter). I do own another Passat and got $2000 owner loyalty incentive. The deal . . . NO money out of pocket at all, 36 months, 15K miles/year, only $320/mo including tax. No trade in.

    Maybe you shouldn't be such a skeptic. Of course, you have to negotiate with the dealers (which I primarily did over the internet) but the deals are out there if you have the owner loyalty incentive. They may not be as good without it.
  • jaxs1jaxs1 Posts: 2,697
    So it sounds like it can be a very good deal for the percentage of people who qualify for the loyalty discount and/or trade in one of the qualifying year and make cars.

    For everyone else, not so great. The extra $1700-$3700 obviously will make a huge difference in the monthly payments on a 36 month lease for that group of people. For everyone else, it doesn't seem to be nearly as good as I thought it would be before I found those restrictions.
  • bvdj84bvdj84 Posts: 1,721
    Ya, thats true, if you don't get the incentives, then its not as good, but certainly much better than the accord lease right now, which I really really wanted. But I am certainly not going to lease for about the price I could finance.

    I took out the Passat Komfort 3 times now, and I really like it, everything I could want, but I found myself asking, do I really like it enough to give up my 06 Accord? I am still asking this myself. My mother mentioned she would pick my 06 Accord over the Passat, because she likes my seats much better, also, the dash in my Accord is much better, more upscale, and I have to agree a bit with that, Perhaps the interior doors could use a bit softening so they would not look as cold. They don't have the plush look to them. Plus, my mother mentioned that at the end of the day, my Accord will hold a bit more value, even older beater hondas are selling for $$$. With all of that said, the other half of me, is saying, get crazy and just do it!! It is a beautiful cobalt blue, and even on my test drive, people were asking me about it! It has everything I could want.... this is a hard decision, has anyone else had this problem...lol... I do lease my Accord, and have limited mileage left, plus the incentives will probably end this month, plus the blue color might be gone, I am just not sure I could drive away and see my Accord going off to auction. ...
    One thing about the Passat, its got some Bling, and it has a big Fun Factor to it!!lol

    Anyone got any advice, it would help me alot!!! All the things my mother mentioned were quite minimal about the car, but she said it was all up to me... Let me know!
  • selmselm Posts: 122
    I wish I had some advice for you, but I am in the same situation. I am currently leasing a 3 series. My lease on my 3 is ending pretty soon and I am trying to decide which is better: buy/lease a passat, or buyout my car for essentially the same price. Who knows, I might even buy/lease another new BMW. In most every way, I like the 3 series better, but $1200 tires every 20,000 miles is a bit excessive (If I would release or buy a new 3, I would stay away from the sports package which comes with the blasted expensive tires). And I have a feeling once the BMW is out of warranty, things could get mighty expensive. The practical side to me says get the much cheaper passat, but the emotional side wants me to stay with BMW. I don't know what to do!

    So while I have no advice, I just wanted you to know that you are not alone.
  • tntmythtntmyth Posts: 70
    I am considering a 2008 Passat Komfort with Ipod adaptor. From what I am reading on the posts, some are getting payments of about $311 - $329 per mo with 12,000 miles, 36 months. 50% resale after. And this is after you negotiated your best deal. The lease posted on VW website for a base Passat is $329.mo and my local dealer told me it's higher at $369 for the Komfort. But I guess some of you are getting $2,000 VW Loyalty incentive or $1,500 Conquest incentive for trading in a Honda, Toyota, Nissan, Hyundai etc. bringing your lease payment down to approximantely $320/mo. including tax, tag and title.

    My questions are as follows:

    Have any of you gotten a $320/mo price on a Komfort without getting one of these incentives?

    Is the Sign and Drive event an incredibly low price that can't be passed up? (e.g. what would be the "normal" lease deal I could get on a Komfort Passat?)

    VW is now shipping their cars with the new 2.0T CCTA engine with 211 hp and more torque. This is a completely new engine and replaces the existing 200 hp BPY engine. Advantage is more torque, maybe slightly better gas mileage, timing chain instead of timing belt. and better acceleration. VW is putting this engine in all of their 4 cyl. application including the new 2009 Audi A4 2.0T. So now that the new engines are arriving, perhaps the main reason that VW has had this Sign and Drive Event was to clear out their inventory with the older BPY engine. I am concerned about this but now way to know. Interesting thing is that you can pick up a Passat with one of the new engines and still use the existing Sign and Drive incentives. It's a thought. I wonder if there will be reliability issues with the new engine while they get the bugs out in the first year or will it just be all that from the beginning??

    Basically, I am wondering if I should take the leap to buy the Passat now or wait until 2009 models come out so that I can get Bluetooth and touch button NAV along with the new CCTA engine. That's why the price is important.

    Basically, do you guys think that VW will go back to a higher lease payment once they have cleared out their inventories? Or can I expect that VW will still have decent lease deals in a few months or in the fall when the 2009's come out?
  • delta737hdelta737h Posts: 603
    Greetings selm!

    You asked the following questions (answers are bolded)...


    -What is the vw acquisition fee? $575
    -Is there a security deposit required. If so, how is it calculated? none required
    -Do vw leases include gap insurance? YES
    -Is there a disposition fee at the end of the lease? YES, $350

    I recently structured an "almost" sign and drive Touareg 2 lease for someone in NY. See my post #279...

    Touareg Lease Deal by delta 737h

    John

    PS: ANYONE needing assitance with lease calculations, sign and drive leases, etc, please let me know. I'm always glad to provide assistance. You'll need to provide some specifics including your state.
  • tntmythtntmyth Posts: 70
    Getting ready to pull the trigger on a new 2008 Passat Lux. I was offered $369/mo + tax for a 36 month, Comes out to $391/mo with tax.

    12,000 mile lease
    50% residual.
    MSRP $30459.
    Sign and Drive program, nothing down, no VW Loyalty incentive, no trade in.

    Sound like a good deal? How much more should it cost me to go to 15,000 miles on the same lease?
  • tntmythtntmyth Posts: 70
    Has anyone heard about or knows anything about the new 2.0T TSI engine showing up in the latest Passats? What I know is that it replaces the BPY engine that has been the Passat for the last few years. It is completely different. It has been showing up in Passats delivered to dealers in the last couple weeks. Is supposed to be basically the same engine coming in the new 2009 Audi A4. The Audi A4 will have 211 hp. Not sure what the situation will be with this new engine. Is it a better engine? Better performance? Hard to find information about it on the web. Here is a photo of what it looks like in a GTI engine compartment. Notice the different engine cover from the "older" 2.0T BPY engine.

    image
  • simbany1simbany1 Posts: 11
    So I just got back from Baysde VW in Queens, NY. I currently lease a 2007 Nissan Maxima and the salesperson quickly went into telling me that he could give me a great deal on an 08 Passat. He told me about the $1500 incentive to terminate my Nissan lease. I told him that I wanted the 2008 Passat Lux with no money down and $0 out of pocket. The best he said he could do was for me to pay for registration/plates (which he approximated at aroud $250) and my payment would be around $427 for 36 months, 10k miles....

    Seeing all the low monthly payments with no money down on this forum, it was hard for me to believe that this was the best he could do. I'm ready to get the Passat right now and turn in my Maxima, but he said that this was the best deal he could give me right now.

    Can anyone tell me if I should be getting a better deal then this?? I'd like to pay absolutely nothing out of pocket (but I'll pay for the registration), but want everything else rolled into the payments, ie. taxes, title, etc and keep my monthly payment in the mid to high 300's for a Lux. Is this impossible????

    Thanks!!!
  • bvdj84bvdj84 Posts: 1,721
    Yes!! Totally Possible!! As long as you don't have any negative equity from the old lease, you'll be good to go!! I am thinking you could possibly be in the mid $300's with taxes included. The Komfort is only a bit lower in price to the Lux, so there not too much difference, I was offered $318 with the Komfort, but I had some negative equity, so my payment is $348, which is not too bad.

    This is possible! You totally need to call around though, get quotes via email, because even my dealer, though nice, I have caught them in a few lies, but I understand they are running a business, but finding better quotes and letting them know that you are willing to get the best deal and not dumb.

    Good Luck, and just be informed and ready.

    Why are you trading your Maxima so early?
  • azguy2azguy2 Posts: 10
    I am new to the leasing game, but have been reading the posts in this forum with interest. When people give their lease payments, does this normally include taxes? In other words, when someone says they got a deal on a Passat Komfort for $311 a month with nothing down, is the $311 before taxes?

    I was offered this deal tonight: $285.73 mo. (plus 23.72 tax = $309.45 mo.) for a Komfort with Ipod and mats. 36 months, 12K miles, money factor of .00023, and residual of 50%. The MSRP on this car is $28,814. Down payment of $877.62 to cover title, license and documentation.

    I was also shopping a Turbo, and on that was offered $268.25 mo. (plus 23.72 tax = $290.51 mo.) on that car. Same terms, MSRP is $26,014. Down payment of $830.59.

    I'd appreciate hearing from some of you if this a good deal right now.

    thanks,
    AZGuy
  • jb1105jb1105 Posts: 5
    HI there...
    Am just about to finish a deal on a Passat Komfort and have been told that the Ownership Loyalty Program is NOT APPLICABLE on this model???
    (I have been in a Jetta lease for the last 3 years and am turning it in for the Passat).
    YOur input here or is he full of hot air???
    :)
  • saipreetsaipreet Posts: 3
    Sale Price he's offering:$23940
    For a VW Passat Turbo with heated front seats on a 2 yr lease (57% residual after and a money factor of 0.00033. The lease is the 12k miles/year lease and i will pay $940 down in title, tax and doc fees. I got this quote from the Southern States VW dealer in Durham. I tried using your lease payment calculator (in edmunds.com) and for the numbers he gave (and with tax at 7% i come up with MUCH HIGHER MONTHLY PAYMENTS ($591 including tax) compared to his $380 a month. Not sure how he's able to give me a $380 a month deal..
    - Confused (first time Passat buyer).
This discussion has been closed.