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2013 and earlier Volkswagen Touareg Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're welcome, cursichella. Since your original contract is completely void, you aren't obligated to keep your Touareg if you are not comfortable with its new selling price. Make sure not to over pay for it.

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  • Does it make sense to you that if we were to pay off the car in cash, all we'd have to pay would be whatever the bank payoff is; but, since we're financing it, we need to buy new gap insurance, sales tax and extended warranties and treat it as if it's a new car? And if we do that, should we expect to be refunded whatever years remain unused of the warranty(ies) and gap insurance?
    Thanks! (Sorry for the 20 questions but I'm getting more and more confused.)
  • '06 Touareg V6
    MSRP $41,918- (package 2 + roof rack, cd changer, tire monitor)
    36 months, 15k miles
    0 down- (sign and drive with no fees, no charges)
    $548 + tax/month

    thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi cursichella. Under normal circumstances, if you paid cash for your truck, all you would have to pay is its price. If you finance it, you may want to include gap insurance to prevent you from being upside down on your vehicle if something bad happens, but I don't believe that you are required to get gap. Some banks automatically include it on leases. You aren't entitled to a gap insurance refund for your previous deal unless you paid extra for it. The same goes for the warranty. You won't be entitled to a refund unless you purchased an extended warranty. Even if you paid extra for both of these items, refund policies vary from company to company so I don't know exactly how much you would be able to get back.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello digitalsanto. You never mentioned the selling price of the Touareg that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what the selling price is.

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  • I got a lease quote from the dealer with the folling information.
    Price 41265
    Term 36 mths
    Residual .49
    acq fee 575
    MF .00121
    15,000 miles per yr
    $694.00 per month

    is this a good deal? if not, what would be? also, there is a 1,000 manufacturer to dealer incentive. i know this can be subtracted from the invoice but what should i negotiate for the price of the car? the invoice for the car is 38,707.
  • dealer told me the offer will expire today 8PM ct. apparently they have a tax savings special and they want to get rid of 06 models.
    this is the offer on an 06 , sticker USD 47,415 minus USD 6000 off.
    36 months, 15k mls/yr, 0 down, residual .49% and money factor .001 uSD 634/mo.
    is this a good deal?
    I prefer not to make a rush decission moreso because my wife's other lease does not expire until Oct this year.
    we really like the V8 though and wonder if we decide to wait until Oct we will still be able to get such a deal (or better).
    can ou help me with some advise?
    thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi mlroberts55. Volkswagen is providing dealer cash on the 2006 Touareg, however this dealer cash is not compatible with VW Credit's special lease program. So you can't use it to negotiate a lower capitalized cost for your lease. The money factor that you were quoted looks a little high to me. If you were to lease a 2006 Volkswagen Touareg V6 through VW Credit right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00059 and 48%, respectively. If you provide me with this truck's full MSRP, I'd be happy to use this program to estimate what your truck's monthly payment should be. Right now I can tell you that the $2,500 over dealer invoice that you are paying is a little high. You may want to stop by the following discussion to see how much other community members have paid for similar trucks: "Volkswagen Touareg: Prices Paid & Buying Experience".

    Car_man
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  • capodannocapodanno Posts: 2
    Good deal?
    V6 base model touareg
    $436.33 monthly (includes 7.25% tax)
    36 months
    12k miles
    $4000 drive off
    .00059 cost of money
    50% residual ($18,997)

    They mentioned this is $500 over invoice.

    I'm curious about the residual--shouldn't it be a little less than the quotes of 49% I've seen here, since I only want a 12,000 mile lease?

    What about the drive off?

    This would be my first lease, and I very much appreciate all I'm learning from this site and other peoples experiences. Lots of different areas to worry about! I'm not exactly sure how residual and drive off relate to each other? :P
  • dsnow77dsnow77 Posts: 3
    I got a quote today from a dealer but it sounds too good to be true.

    06 V6 touareg with Package #4
    MSRP $45,628
    They said they'd lower that amount to $500 over invoice
    36 month term
    10,000 miles per year
    $1,394 down

    $465/month with tax included

    I dont know if this guy is just trying to get me into the dealership or maybe prices are low now??

    Any feedback appreciated. I am going to their dealership tomorrow which is about an hour from me.
  • rheatonrheaton Posts: 1
    I'm interested in finding a new home for my Touareg as I am moving. Is the residual value of someone financing the Touareg under a new lease different than the residual value on my current lease? I.e. what would be cheaper for someone - a new lease or taking over my current one. Details below.

    2005 VW Touareg V8 with every option except trailer hitch, tire pressure monitor, and 4 zone AC.

    My current lease is for $725. Gross capitalized cost is $53,265. Terms are 4 years, 15k miles/year, about 34 months left of lease. Residual value of $24,140.

    Thanks for the help.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi capodanno. $500 over dealer invoice is a good price for a leased 2006 Touareg. Make sure that the tells you its exact MSRP and selling price though so you can see for yourself. These numbers are also useful because they allow one to double check their vehicle's lease payment. The money factor that you were quoted for this truck is right in line with VW Credit's current program for it. VW Credit's current 36 month, 12,000 mile per year residual value for this truck is 48%. This number increases to 50% for leases with only 12,000 miles per year. So assuming that you are getting this truck for $500 over invoice, this looks like a good deal to me. You probably should cut back on the money that you are paying at lease signing though. Consumers are free to lease any vehicle that they want without making any sort of capitalized cost reduction. In fact, it is in your best interest not to make one because if your leased vehicle is totaled in an accident or stolen and never recovered during your lease your down payment essentially disappears.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi dsnow77. As I just mentioned to another community member $500 over dealer invoice is a good price for a leased 2006 Volkswagen Touareg. If you tell me what this truck's exact selling price is, I can calculate what its lease payment should be using VW Credit's actual lease program.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hello rheaton. I am sorry to say that it is likely going to be very expensive for you to get out of your leased Touareg 34 months before its scheduled end date. Even if you are able to get out of your current lease without losing too much money, which is highly unlikely, you still can't lease your truck to someone else. Your best bet would be to try to find someone to assume your current lease on this truck, assuming that VW Credit allows lease assumptions. There are web sites out there like swapalease.com that facilitate such transactions. You may have a tough time finding someone to assume a $725 a month payment without supplementing the deal a little out of your own pocket though. I wish that I had better news for you, but it's often very expensive to break leases early.

    Car_man
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  • capodannocapodanno Posts: 2
    Thank you for the advice. I ended up getting an even better deal on a V6 with package 2, but I have a question. Although I negotiated a price of just under $37,000, I was surprised to see that the 50% residual (for a 12,000 mile lease) was based on the MSRP, and NOT on the negotiated price. So the 50% residual is just over $20,000 instead of half of the $37,000. Is that normal or did I get duped on that part?

    Also, is it a bad idea to buy a car at the end of your lease? I seem to think the car's value will be worth more than what I'll owe at the end of the lease, which would be a good thing. (I think.)
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,876
    1) Residual is always based on MSRP.. Whether you got a good deal or a bad deal, the car will be worth the same at the end of the term..

    2) If your car is worth more than the residual at the end of the lease, it would certainly be a good deal to buy it at that time.. I wouldn't bet on that being the case, though... Most residuals are somewhat optimistic (which is good, as high residuals make for lower lease payments).

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • stars4304stars4304 Posts: 5
    I was wondering if I can get your opinions on the option to purchase a car when the lease is up.

    My friend, who has been wanting to get the 06 Touareg, is deciding to do this because payments to finance the car is too much.

    From what I know, it would be a lot better to just finance from the start. How much more money would she end up spending? Do you guys think it's worth doing this just to have the car that you want?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi stars4304. There's nothing wrong with leasing a 2006 Volkswagen Touareg right now. VW Credit's lease program for it is pretty good. Your friend can always lease one, drive it for a few years to see if they like it and then decide whether they want to buy it at the end of their lease. One of the benefits of doing this is if she gets into an accident in her Touareg during her lease and has it repaired she does not have to take the diminished value hit, VW Credit does. Plus if she gets a truck that gives here a lit of trouble she can just walk away from it at lease-end. If she enjoys the Touareg, at the end of her lease she can determine if its purchase option price is in line with what she would have to pay for an equivalent used Touareg on the open market. If so, she can just buy her truck from VW Credit either by paying cash or financing it. The only disadvantage to doing this is that she will end up paying for her truck for a long time if she leases it for say three years and then finances it at lease-end for another three or four years.

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  • Can you please help me calculate what the lease payments and residual should be for a 2006 Toureag with a $ 47,415 MSRP that I can buy for approx. $ 38,600 with the following lease terms: No cap cost reduction. 12,000 miles a year for a 36 month lease. Is the negiotated buy price of $ 38.6K used to calculate the lease payments since the residual is always based on MSRP ?

    Thanks.
  • For a new, 2007 V-6 Touareg with Nav., park assist, leather, power seats, back up camera (package #2), the dealer is telling me that $700 over the invoice price is $44,527. I am having difficulty verifying this as $700 over invoice.

    Their leasing offer is with $3,500 down, 12k miles per year:

    -a lease for 4 years has a monthly payment of $591/month, exclusive of tax, and
    -a lease for 3 years has a monthly payment of $622/month, exclusive of tax.

    This seems high to me.

    I have asked for but not yet received the money factor and residual %.

    Thanks
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