2013 and earlier Volkswagen Passat Lease Questions

lepia · April 2008

rjaero,
thanks for the info.

Q.
Do you know if for NY state the tax is based on the monthly payment? I never paid tax on the entire purchase price for any of my previous leases.

If you previously leased a Passat, the incentive should be $2,000.00, correct? then you payments should be $55.00 bucks different.

is that correct?

Thanks in advance,

tntmyth · April 2008

What do you think will be the lease deal on 2008 Passat Lux after end of April? I love the car and am decided that its what I want, but it is more convenient for me to lease or buy in June or July. I am concerned it may cost too much if I wait because of the drop in value of the U.S. dollar thinking VW may be forced to raise prices, money factors, etc.? However I also believe that if VW raises their prices too much, their sales would be hurt going up against Honda, Toyota, Nissan, Acura, Hyundai but they can't sell at a loss either. Maybe it will spell a comeback for U.S. manufacturers if the imports are all forced into higher prices.
My car is paid off with only 59,000 miles on odometer but gets only about 13 city/17 highway. I drive about 1,000 miles per month. So I am enjoying my time with no car payment but with gas prices going up, I would be saving half my new lease payment just in gas. My extended warranty ends this summer. Tough decision.

rjlaero · April 2008

Sales tax is 8% of the payment in NY to my knowledge. I thought that Virgina residents have to pay tax on the entire purchase price, even if they lease it.

I'm not sure what the current loyalty is for April.

kyfdx · April 2008

I'm pretty sure NY is based on the total of payments, but paid upfront.. So, you have to roll that cost into the adusted CAP, which adds a dollar or two to the payment vs. taxing the payment each month...

I think you are correct about VA, as well... You pay on the entire purchase price.. Of course, their tax rate is around 3%, so not as bad as it sounds..

regards,
kyfdx

lepia · April 2008

Hi everynone,

Now that I learned the formula to calculate the montly payment of a car, I am trying to understand or figure out the following:

Interest Rate
Money Factor
Residual

In order for me to calculate the proper monthly payment for a Passat Lux, I will need to know these three values.

In my experience gained in the past 3 weeks, by going to 3 diiferent dealers, I noticed that each one of these 3 values above are different when visiting each dealer.
So the questions is: Is there a fix value for the interest rate, money factor and residual.
I would think that the interest rate would depend on: 1) One's credit rating and 2) which bank the dealer works with.

However, the money factor and residual should be the same throughout the 50 states. Am I right?

Anyone?

OK,
For those interested, I just answered one of my questions: The residual is set by the manufacture at its own leasure. That gives the dealer room to change the residual value of a car.
http://www.leaseguide.com/Articles/residualvalues.htm

js0012 · April 2008

I don't qualify for the Loyalty program but have been offered the following lease
36 months, 15K miles/year, $1000 due at signing, 35 payments of $469. Only good today, I guess some incentives are expiring at the end of the month.

azguy2 · April 2008

Does the 469 include tax? What's the MSRP of the car?

AZGuy

js0012 · April 2008

Yes the $469 includes tax. The vehicle stickered just under $31K

trailmower1 · April 2008

Did I get a good deal?

Passat Komfort Wagon
36 month lease
12K miles per annum
zero down
mats included
$372 per month incl. tax

I'm in Indianapolis area

azguy2 · April 2008

It seems like they should be able to go lower. It helps to play to dealers off each other....without that you may reach a sticking point. Use my deal as a reference (above a few posts). Allowing for my lower msrp (29,500) and owner loyalty eligibility, I'd say you should be paying about 110 more than me, IF you were going with 12k. (I paid 302, including tax). so that would leave you about 60 too high. I'm afraid I don't have the VW info to adjust that number for 15k vs 12k.

Good luck. It will be interesting to see what deals and promotions are retained next month.

AZguy.

azguy2 · April 2008

what's the msrp? did you have owner loyalty or any other incentive? Are they making the first payment?

AZGuy

trailmower1 · May 2008

msrp of $29,500
Honda lease trade in of $1500
They make 1st payment

azguy2 · May 2008

If you traded in your Honda for $1500 that's the amount you put down. Unless I'm missing something. The MSRP on my car was almost the same as yours -- see post #612 for the deal I got. I owned a 2002 Jetta, so I received the $2,000 owner's loyalty -- I understand that takes off about $60 dollars from the monthly payment. That makes our payments similar, leaving out the fact that you paid about $650 extra down.

AZGuy

kyfdx · May 2008

I think the $1500 he refers to is the incentive for trading in a Honda... Not the amount they gave him for his trade..

I could be wrong..

regards,
kyfdx

saipreet · May 2008

Hello:
Here are the details of the lease offers I received last night (end of the month) from dealerships in the Raleigh Durham area. I did not buy last night (though there was intense pressure!) and I'm wondering if i did the right thing this morning!
1. For a Turbo (base model) with heated front seats: I was offered $355 a month for 12k/yr lease for 24 months. Negotiated sale price: 23480 (including $940 tax, title, doc fees). Residual was at 59%.
2. For a Komfort model with heated front seats: I was offered $389/month for a 12k/yr lease for 24 months. Not sure of the sale price on this car because the dealer didn't give any. He merely suggested this as an upgrade. The one thing I noted was that he mentioned something about owner loyalty casually - i think he offered me the $389 figure only if I qualified for that. I dont!
So I guess really the issue that's bothering me is: should I have walked away from the Turbo deal that is in #1. I wanted the united gray color but they didnt have that in stock in either trim and offered me other colors (another justification for why I didnt buy last night even if the deal was spectacular!).
Your feedback is appreciated. Maybe I'll learn to jump on a good offer when i go to the dealer this month!

ONE THING MORE: I live in NC now but am moving to Indiana in 2 months. I am debating between leasing the car in NC and driving it to IN or leasing it in IN. So far, every dealer I have spoken to has said that VW has a good dealer network and that I should have no troubles in buying in NC and relocating to IN. That's true, isn't it? :confuse:

kyfdx · May 2008

ONE THING MORE: I live in NC now but am moving to Indiana in 2 months. I am debating between leasing the car in NC and driving it to IN or leasing it in IN. So far, every dealer I have spoken to has said that VW has a good dealer network and that I should have no troubles in buying in NC and relocating to IN. That's true, isn't it?

How does NC tax leases? Do you pay the tax upfront? I think Indiana taxes the monthly payment. If you lease in NC and pay the tax, once you get to Indiana and register the car, you'll have to pay tax again on the monthly payment.

I'm not positive that is how the tax works in those two states, but if it is, then you definitely want to wait until you get to Indiana to lease the car.

regards,
kyfdx

azguy2 · May 2008

I think you're probably right. But whether it's trade-in value or program credit, it lowers the monthly payment the same amount.

trailmower1 · May 2008

I did the deal on the Passat Wagon. First impressions are that I'm pleased with my decision. Sweet ride, love the steering feel, plenty of power and the Sirius equipped sound system is crisp and clean.

As for the sign and drive deals to continue, my dealer said no but maybe some other financing at a later date.

ken1496 · May 2008

My VW passat lease ends in July. I am moving out of the country in Oct. Can I extend my lease for 3 months with a same payment? Appreciate your feedback. Thanks,

trailmower1 · May 2008

This varies by lease and by company. I just turned in a Honda lease and was offered the opportunity to extend the lease if I so desired. To find out for sure, contact you financing organization (Volkswagen or bank depending on who did your financing) and ask what options they offer.

gluz · May 2008

Hello, I currently lease 06 Passat Sedan 2.0T with every possible option.
My overall residual(payments plus real residual) is 22K plus change and mileage is pretty low-18K which makes me 6K under my annual 12K mileage. The lease is over in over a year, in June of 2009.

I want to get an 08 Wagon, maybe with lesser options for about the same lease rate monthly-391 including 8.25 CA tax.

What should I expect my conversation with the internet manager to be like?

Will all of it be about me being upside down on my lease and them wanting to roll my existing lease remainder into the new lease?

Any suggestions are appreciated.

Thank you.

kyfdx · May 2008

Will all of it be about me being upside down on my lease and them wanting to roll my existing lease remainder into the new lease?

That would be my guess... I'd ride out your lease..

regards,
kyfdx

saipreet · May 2008

Thanks! I'll look into the different taxes in the 2 states. So you think the terms of my lease on the turbo were reasonable? :confuse:

ralora · May 2008

08' Passat Wagon Lux, 36mo & 48mo w/15k/yr. MSRP $35,944

Thanks,
RL

jmc19216 · May 2008

Does VW Credit accept the refundable multiple security deposits on their leases? I know that BMW lowers the money factor up to .00049.
Thanks

tntmyth · May 2008

Does anyone know what the current money factor, residual and overall best deal available on a Passat? They are running a special now, this time until June 2. I am interested in Passat Lux. During the Sign and Drive, they were offering $329/mo nothing down for 2.0T Turbo. Now its $269 with $1999. If you divide the $1999 by 36 months, it adds $56 to the $269 making it $325. Thats even better than the $329 during the Sign and Drive.

trailmower1 · May 2008

Now its $269 with $1999. If you divide the $1999 by 36 months, it adds $56 to the $269 making it $325. Thats even better than the $329 during the Sign and Drive.

You can't really do the math this way. There is a big difference in making an up front payment of $1999 and paying the same amount over time. The difference is the "time value of money" as in the up front scenario you are giving up the use of the money and in the over time scenario you retain the use of the money. Another difference here is that the sign and drive included the first month's payment so that deal was only 35 payments and not 36.

I would guess you could get a lease deal that, in total, is not so different than what was previously offered as the summer is approaching and the new model year cars will be arriving soon. However, VW corporate is no longer offering the support for the money factors that made the sign and drive a good deal.

Lastly, try asking the dealer for a lease quote with no money down. This will give you a better comparison and you'll know what your negotiating for. If you read most of these forums, the prevailing opinion is that, when leasing, it's best to avoid putting money down if you can.

tntmyth · May 2008

I notice that VW just lowered their monthly lease payment to $239/mo for Passat 2.0T Turbo with $1,999 down. See the following link:

http://www.vw.com/specialoffers/en/us/#/passat/

What would you estimate is the best payment I would be able to get a Passat Lux for with this month's promotion? Passat Lux I am considering has an MSRP of about $30,750.
Also, if I choose to put nothing down as in the "$0.00 due at signing offer available. Please see your dealer for details.", mentioned in the ad, what is the best I could do on a lease payment?

mjlatl · May 2008

I'm looking at several cars including the Passat Wagon Lux with Nav and Ipod Dock.

Looks like MSRP is around $35,500.
What should I pay for this car? With specials what should a lease be? I would prefer a sign and drive but don't mind paying the first months payment up front.

thanks

mjlatl · May 2008

The actual MSRP is $33790
They are quoting a price of $31908 (94.4%)
On a 36 month lease with 12K per year, they are offering $499+tax sign and drive ($534) or $479+tax ($512), with $688 upfront total.

Based on the new special on the web this doesn't appear that great.

Thoughts?

trailmower1 · May 2008

This is not a all a good deal. I leased a Komfort Wagon at $372 per month including tax and no first month payment. $534 for a Lux is way too much. The MSRP on my wagon was about $29,500. You can do better.

mjlatl · May 2008

We ended up with a Lux Wagon, 36k lease. MSRP of $35495, $0 out of pocket lease for $469.10 per month and that includes tax.

CarMan@Edmunds · May 2008

Hi lepia. Volkswagen Credit sets the money factors and residual values for vehicles that are leased through it. If you were looking at identical vehicles at these dealers, the only reason that one would quote you a different money factor would be if they were trying to mark your car's factor up to add additional, hidden profit to your deal. Dealers cannot alter banks' residual values. VW Credit's lease program usually does not vary by region.

Car_man
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Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · May 2008

Hello ken1496. Place a call directly to Volkswagen Credit, or whichever bank you are leasing your Passat through, and explain your situation to them. Many banks will let consumers extend their leases for a couple of months.

Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

CarMan@Edmunds · May 2008

Here's the information that you're looking for, ralora. VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Volkswagen Passat Wagon 2.0T with 15,000 miles per year are .00024 and 47%, respectively. The numbers for an otherwise identical 48 month lease are .00076 and 39%.

Car_man
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Prices Paid: Buying & Leasing Experiences Forum

lepia · May 2008

I am sure everyone in this forum will agree that no dealer could be trusted. So, havind said that, can one call VW directly and ask for the current MF and Residual value?
If yes, what is the number? :confuse:

By the way, anyone knows the current MF, Residual and bank Fee.
12K, 36 months on a passat lux or passat Komfort

lepia · May 2008

Thanks Car_man for the info. much appreciated.

By the way, I posted a thread #649. Do you have the answer?

VW phone # to call and ask directly for MF and Residual value, bank fee. I figure the dealer was trying to pull one on me.
Do you know May MF and Residual Value, Bank fee for
Passat Lux or Passat Komfort. 36 months, 12K 0 down.

thanks in advance.

cutbacklarry · May 2008

Hi everyone,
Just want to let people know my deal.

I just purchased a new 2008 Passat Komfort Wagon,

325 + tax
36 months 12,000 miles
Drive off - first month down
(Gross cap cost 26394)

I'm pretty happy with that. This was from Livingston VW, Woodland Hills CA.

I was offered 319 + tax, first month down in an email and they offered to get me any color in 24-48 hours. (Other dealers were offering me 375, 395, 442!!) So I went to the dealer and I picked a silver komfort wagon which happened to be in San Diego. When it came to manager approval, he flatly refused, saying I could have the white komfort on the lot, but he wanted $10 a month more to get the one from San Diego etc. etc. Sounded like a tactic to get more money, so we haggled and settled on an extra 6 bucks. No big deal considering the money factor is so low and I was getting the car I wanted.

jsiggy1 · June 2008

Does anyone have the June 2008 24 month and 36 month residual and money factor rates for the Passat Komfort sedan 2.0T Automatic?
Thanks!

lepia · June 2008

Hi everyone,
after 2 months of reasearch going from dealer to dealer, I got yesterday the best deal ever.
My deal was so good that I did not even ask for MF or residual or car price.
Here is my deal:
Passat 2008 Luxury
monthly payment including tax: 350.00
upfront: 204
first month paid by VW.

good luck to everyone else looking for a passat. If you want to know where I got my deal, let me know.

jsiggy1 · June 2008

How many months was your lease for?

lepia · June 2008

The lease was for:
36 months
10,000 miles.

If I chose 48 months, which I am considering, the monthly payment will drop 10-15 bucks.
for those interested, the dealier is:
Bayside VW in Queens NY.

I have seem bad coments about Bayside service center, and I must say that in my experience with my last 2 leases, the sale person have been nice and decent.

The only downside to this deal, is that they don't have the car and I may have to wait 2-3 weeks until they get me one. -I can wait.

tballs · June 2008

I just leased a Passat Komfort for my parents in MA. I've leased a few cars now, and have found a process that seems to work well for me (with lots of help from these forums and especially the car_man!).

I email a few dealerships' internet sales manager that say something like the following: "I'm interested in leasing a Volkswagen Passat Komfort in Black, Grey or Silver for either 24 mos or 36 mos / 15k per year. THe options I'm interested are heated seats. Please provide me with a quote via email with the following info:
MSRP
Purchase Price
Residual
Money Factor / INterest Rates
Inception FEes - Please itemize.

I usually get an email reply asking me to come in and go for a test drive. By this point I've already driven whatever vehicle I'm leasing so I simply reply that I already have and am interested in the financial details. Some try to call instead of email. If I get a voicemail (I travel internationally for work) I just send another email saying that I got their voicemail and to please send me the information via email.

Once I have the information from the dealers, I compare them to each other and to what I read in the message boards here. Then I pick one and go into the dealership to do the paperwork.

Just leased my mum a black passat komfort with tan interior. Includes IPod Adapter and heated seats and rubber floor mats.

Drive off/inception fee was $790, which includes the first month's payment.
Monthly Payments are $289 including tax. Lease is 36 months / 15k. I'll have to check, but I think that the residual was 47& and the money factor was .00018

The original offer that I got was from Quirk VW. The internet sales manager's name is Mark Gallagher - very good guy to work with. Unfortunately Quirk didn't have anything in Komforts other than Blue Slate or whatever that color is. Minuteman VW in Bedford, MA was willing to match the offer and get a black passat from another dealer, something that Quirk says that they don't do. So we did the deal with Minuteman. The whole process from initial email to sign took approximately 1 week.

treebee · June 2008

Ok - this has been great reading, but i have never leased a vehicle and want to run some numbers by you all since it seems we are at the end of the 2008 vehicles and perhaps there are great deals to be had. It looks like most people are paying 0 down and that is not the deal we are currently considering -- please advise

$2k down
$312 month/48 mos.
first month 'free'
maintenance booklet covers all maintenance for 4 yrs (supposedly)
residual is somewhere around $12,300

Thanks in advance!

treebee · June 2008

Car-man - how does one calculate the buy rate lease money factor? I am specifically looking at a 2008 Passat Wagon Komfort.....thx!

treebee · June 2008

Hi Car_man and/or kyfdx -- I'm not seeing any response to my earlier posts about the VW Passat Wagon - help? thx

nickp327 · June 2008

lepia-

your deal seems too good to be true! what was the name of the sales person at bayside VW you dealt with? i'm thinking about taking a trip out there from staten island this weekend. considering all the incentives and their advertised "92 hour sale" i can't see why i wouldn't drive the car off the lot! i can see online they still have a lux in the color i want! i would love to tell them i heard about your deal in hopes they can extend the same terms to me

thanks in advance!
nick

treebee · June 2008

yes - that is a phenomenal deal -- I'm having a hard time convincing my local dealer of little to no down payment

lepia · June 2008

OK guys,

I picked up my car last night. I could not believe I was getting this deal until the contract was signed. I thought the dealer was going to pull a fast one on me; so as I was getting the contract from them, I started reading carefully to see all the numbers. -they were honest.

How I got this deal:
I assume I got this deal for the following reasons:
- I was a previous passat owner and purchased from the same dealer.
- I got the owner loyalty rebate
- I have 750+ credit rating
- I usually pay my monthly payments one month in advance. Basically, I was always a month or two ahead in payments.
- Last, I must say the dealer was honest. I dealt with the manager directly. As a saleman, he is one hell of an honest guy.
- I brought business to them, 2 clients already.

You can use my name as a reference. He gave very good deals to my friends as well. -Not as good as mine though. but it was probably for the reasons above. they paid 35 and 40 more then me a month.

Send me an email and I give you the name. I dont think one can provide sale person's name on this forum.
send email to lepia3000@hotmail.com and I give you all info you need.

Not all, but must of the sale people at Baysde are good people.

Good luck.

shaynesuper · June 2008

John -

I know its been a couple months...but what was the miles allowance for the Touareg above - 10k? 12k?.

I'm negotiating a Passat Wagon VR6 4motion - the base price is similar to your deal - but I still can't get to the monthly payments.

My deal:

MSRP $41,040
Neg Price $36,487
36mos 15k/year
$0 drive off
.00024
7.75% Tax out here
Residual 44%

$558.32/month w/tax

They added some type of family loyalty thing $1000 discount to get to the price.

Any thoughts - how low can I get this?

2013 and earlier Volkswagen Passat Lease Questions

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