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2013 and earlier Volkswagen Jetta Lease Questions
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I'm in NJ and the taxes are 7%. My residual is $12,595.
The language is so weird to me. I have leased Honda's before but never had this problem. Can someone help me understand how I will know if my $199 payment includes tax like my dealer says, or that I will be screwed somehow in the end paying hidden fee's and taxes.
There is also an acquisition fee from the bank... usually it's $595-$795, depending on the bank... and, that's probably part of that $1366 number (along with the tax)..
Just call up the dealer and ask for an itemization for the $1366.. probably includes tax, acq.fee and registration/title.. I was under the impression that NJ had gone to collecting the first three or four years of registration upfront... but, I could be wrong about that...
Nothing seems out of whack, from what you've shown, so far..
Good luck!
kyfdx
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- Platinum Gray Metallic
- Automatic Transmission
- MSRP: $21,865
VW March Selling Price for Lease: $20,271
Residual Value: 53%
Money Factor: 0.00073
2011 Sportwagen S w/ Automatic Transmission
36 Months - 10k miles per year with $1469 TOTAL DOWN = $264 per month + tax (with tax = $280/month) *everything included*
$625 Acqusition Fee
$399 Documentation Fee
$125 MA Registration Fee
$280.97 First Month Payment
$39.06 Tax on Cap Cost Reduction
I have a trade and it is fully paid off MPV 2003 LX with 50,500 miles on it and good condition. I am seeing any where from 2,500-4,500 for value. So would this amount then get taken off the lease sale price of $20,271 when I bring it in? Thanks for the help.
I like the car but still having a hard time giving up the extra row of seating but the mileage with MPV is horrible.
Volkswagen is currently providing a $250 cash incentive on leases of this car.
Car_man
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Car_man
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I'm a 21 year-old student, and I'm thinking about leasing a Jetta. Is it going to be a problem that I don't have much income? My mom is going to be paying most of the money. Does she need to come with me to the dealers?
I'm also wondering if it's possible to return the car in other states? I go to school in California, but I'm from Wisconsin. I'm graduating in 15 months-ish, and I am probably going back home after graduation. I've been thinking what's the best way to do this. I could either only lease the car for 12 months, lease the car for 24 months and return it in Wisconsin (if possible), or lease the car for 36 months and try to sell the lease to other people when I have to leave California. I think the last option would be ideal, but I'm not sure how easy it is to sell leases. Leasing for 12 months only, I think, significantly increases the monthly payment. What would you guys suggest?
Lastly, these might be silly questions, what is the difference between SE and SEL? Does California require you to get the PZEV one? (I think I read it somewhere.) And what is the convenience package?
Sorry for all the questions. This is my first time getting a car
Thanks
It will likely be prohibitively expensive to lease a car for 12 months. It will even be expensive to lease one for 24 months, but it would likely be doable. The ideal lease term is around 36 months. That term provides the best balance of payment and flexibility. Don't plan on being able to get out of the lease a year early without having to pay money to do so.
You can lease your car in California and return it at a Volkswagen dealer in Wisconsin or vice versa. You may only be able to get a PZEV at California dealers, but you won't be prohibited from driving a non-PZEV vehicle lease out of state in California.
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Is this the correct way to adjust for increase in mileage allowance? Why would anyone pay all that up front, when VW will charge $.20 per mile over 10,000 at lease end? Something is wrong here? Is the sales person trying to stick it to me?
Yup, something seems to have gone awry. The calculation is correct. And, what ordinarily happens is that you can pre-pay the $3,000 (bad idea) or, it can be deducted from the residual value based on 10K annual miles. The result is called the adjusted residual value. So, if the 10K residual amounts to $14,000, then the 15K residual amounts to $11,000. However, because you're pre-paying the mileage, the mileage rate should be discounted to something less than $.20 per mile as this awfully high. It makes absolutely no sense to prepay mileage today at the same rate that would be paid 3 years hence. Also, many fund providers have a residual factor for 15K miles which is usually around three percentage points lower than the 10K residual factor. It may very well be the case, though, that 10K is their standard baseline usage and so they may not have a residual factor for a 15K lease. In such instances, they would use a prepaid excess mileage rate. This rate should be in the neighborhood of about $.15; not $.20.
Hope this helps
John
The Auto Lease Geek
If it's a VW Finance lease, the 15K residual will be exactly 3% of MSRP less than the 10K residual..
So, if the Jetta had an MSRP of $20K, then the residual would be $600 lower....
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Read my example again. I never ever said that using percentages would NOT result in the 15K residual being x% of the MSRP less than the 10K residual. Of course it would assuming, course that the differential between 15K and 10K is, ineed, x%. So, your example is correct.
John
The Auto Lease Geek
SE (w/ Con. and Sun.) (manual trans) @ 15k miles/year for 36 and 48 month leases
SEL (manual trans) @ 15k miles/year for 36 and 48 month leases
Thanks.
What color combo did you get?
Thank you guys :-)
This will be my first lease so I want to do it right and not get ripped off too bad haha
$1,300 upfront for taxes, bank fee and DMV
0 Down
$280 per month (taxes included)
36 month , 10k miles per year
Thanks for the help in advance.
Being young, going into car dealerships can be very intimidating for a young 24 year old woman like myself. They see a young woman and think she must be stupid. This past weekend I signed a lease for the Jetta SE with Convenience and Sunroof for $222 a month $1700 down including all fees. Here is how I got my deal.
First, I browsed online through leasetrader.com. I then contacted the company with the lowest price on the website ($199/month $1700 down) and had them send me the deal via email so all the terms were spelled out. The company advertising the deal was a third party leasing company in NY. I went to their office, and they delivered the car a day later. You sign the lease papers and pay the down payment by check/credit card when they hand you the keys.
After I received the car, I wanted to go over the lease paperwork. Turns out neither of the men who delivered the car could help me understand the lease (and they worked in the office signing deals ALL day). I called VW Credit and even they had trouble answering my questions. Pretty aggravating that VW could not help me understand their OWN lease agreement. I've leased before and never had such a problem. I don't sign ANYTHING unless I thoroughly understand every aspect of the agreement. Something was very shady about it — in the end, I did not sign the deal with them. The leasing company got very nasty with me, and that was even more of a reason not to go with them.
I then printed out the deal they originally sent to me, and brought it to a few VW dealerships but no one was willing to match the deal. The lowest each dealership would go was around $265 a month. I went through 3 dealerships before I inked the deal.
I can't stand salesmen, they are essentially middlemen, and most of them are just plain stupid. I went straight to the manager, and said look "I want this Jetta for $199 a month with $1700 down." I told him my uncle was a returning customer (total white lie) and he came back with $240 a month. I said $220 and you have a deal, and he countered my offer at $222. Not to mention, he went over EVERY detail on the lease until I understood everything.
My advice for anyone shopping, is don't go through a third party leasing company. They are helpful in the sense of starting the negotiating process, but I recommend going through a local dealership. Lastly, go straight to the manager. He initially said at $240 he'd be losing so much money he couldn't go a penny less — that was obviously BS. THEY WANT YOUR BUSINESS. You are in control. Once your hand over the reigns they've got you.
Good luck!
Also, not all dealerships are bad. My finance manager called me back to tell me they lowered the payment after I signed the deal and it was a decent amount!! Now that doesn't happen!! I truly appreciated that. He could have kept it the same!!
My dealership was quite nice through the whole process. They did seem to get a little frustrated with me taking so long, but I wanted it on my terms and when it felt right. I am slow to move on deals and purchases and usually when I make a deal or buy something it is a something I put a lot of thought into.
Bottom line: Take your time, shop around, kick some tires and don't always take the first and "final" deal. Do what feels right, try not to allow emotions in the deciding factor. It is all business and then fun later!
I now have a White Gold SE/cornsilk, conv, roof and love it!! Great choice and worth the wait!
The numbers for an otherwise identical 48 month lease are .00031 and 46%.
The numbers for the SEL with Sun are .00123 / 52% for 36 months and .00089 / 45% for 48 months.
When negotiating your deal, make sure to take advantage of the $500 cash incentive that is currently available on leases of these cars.
Car_man
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I don't believe that Volkswagen is currently providing any cash incentives on leases of this car.
If I was in the market for it right now, I personally would shoot for a selling price of around $500 over invoice.
If you provide me with the MSRP and approximate selling price of the exact model that you want, I'd be happy to work up a sample payment on it for you.
Car_man
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Volkswagen Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Jetta Sportwagen TDI with 12,000 miles per year are .00181 and 53%, respectively for consumers who qualify for its top credit tier.
Car_man
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Please feel free to check back with me in a couple of days and I can give you an update on what the new May program is like.
Car_man
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Wanted to see if this is a good deal. 2011 Jetta SE with convenience package and sunroof. MSRP $22,900, 12,000 miles per year, 39 months lease for $275/month with $1000 down.
Thanks for your input.
Is there a way for the consumer to confirm the current buy rate lease money factor and residual values for VW vehicles with top tier credit? If the rates are published / accessible would like to know how to find them.
Much appreciated.
I have an offer for a 2011 Jetta SEL w/ the Sunroof and Sports Package at a sales price of 23,235 (MRSP is 25,100). Is this a good price or can I go lower?
Could you provide the lease money factor and residual value for a 36 month and 39 month lease at 15K? Also, are there any rebates/incentives available now that I should be asking for?
When negotiating your deal on this car, make sure to take advantage of the $500 cash incentive that is currently available on leases of it.
Car_man
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I am not aware of any resource that provides accurate information on manufacturers' lease programs to the general public.
Car_man
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Volkswagen is currently providing a $500 cash incentive on leases of this car through its captive finance company.
If I was in the market for a Jetta Sedan right now I personally would shoot for a selling price of $500 over dealer invoice minus the available cash incentive.
Car_man
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This is for a pretty much fully loaded Jetta SportsWagen with TDI, tiptronic, and the premium (sunroof, navigation) package. It's a 36 Month Lease w/ 15k miles per year.
Money Factor: .00174
Residual Value: $14,957.50
Money Down: $5,400.00 total
Monthly Payment: $350.60+tax
I can make adjustments to the down payment if I want to pay more monthly. I.e. ~$400 monthly with $3000 down.
We're trying to figure out our lease cost for a: SportWagen SE with options:
-Sunroof and wheel package
-Rear side airbags
We have the option of purchasing it at the invoice price through an employee program.
We're expecting to trade in + down of up to $8K.
Can you please let us know:
Money Factor
Residual Value
We aim at a 36 mo lease 15,000 miles per year. Is there a better program we should consider?
We found on Edmunds:
Invoice price: $22,795
MSRP: $23,745
Should we expect our price to be $22,795 + options?
Thanks!
Volkswagen Credit's May buy rate lease money factor and residual value for a 36 month lease of a 2011 Jetta Sportwagen SE with 15,000 miles per year are .00040 and 46%, respectively for consumers who qualify for its top credit tier.
If you are able to get this car at dealer invoice, then you will likely have to pay $22,795 minus the $1,000 cash incentive that is available on leases of this model through VW Credit.
Car_man
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Your insight made us think this through.
Probably we will go with a basic Jetta SportsWagen with Aut transmission, no extras.
Invoice price: $20,251
MSRP: $21,095.
We can see that there's a $1,000 cash incentive for lease on this model until 6/30.
Our final price would be $19,251?
Can you please let us know June's Residual Value and Money Factor?
We have thought about a 36mo lease, due to their Carefree Maintenance plan. Is there a different lease term we should consider (we've read others are looking into 39 mo)?
How much down payment would you recommend?
We feel we're asking very basic questions, so thanks for your patience!
$1,000 down=about $20-30 off the payment. Not much.
Always ask for the basic deal with no money due. Focus on the selling price and the fees they are charging you. Get this down and your payment will reflect it.
You will be fine, just be aware of all the numbers.
Can you please tell me the money factor and residual for a 2011 Jetta Sportswagon with premium package and 12,000 miles a year for a 39 Month Term. I was offered a PP price of $23, 624 and monthly lease of $339 with zero down at signing . Thanks for your help!