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2013 and earlier Volkswagen Tiguan Lease Questions
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Comments
Thanks for your feedback. I was thinking something similar, but was wondering was I being too cheap. I just keep thinking for $3,000 down I should be able to get the model I want plus the payments I want ($400 mth max) but wanted outside feedback. Plus a part of me was wondering if VW would be coming out with a TDI model in a few months. Dealer also was trying to mention to me paying over $600 for some type of PDI/Vehicle Detailing/Gas Fees? I was like "what?" He was like "the vehicle just arrived and must be detailed and gased and we must pay someone to detail it. It still has the white protective tape on it." I told him "that's not my problem that's his dealer's problem as the vehicle has to be cleaned before it can be sold anyway." These "fees" weren't mentioned in the SEL model deal (see first post of mine). I'd never heard of such things and felt they were just trying to get more money out of me. :mad:
SEL 4Motion with sunroof & nav for 440 month plus tax with zero down....money factor is .13 and residual is 50%, they are eating the cap cost as long as I sign before March 1.
Can it be real!!!!!!?
The only fees you should pay are state fees, a small document prep fee (which I think is dumb but pretty standard), and any fees directly from VW credit, like a lease/loan origination fee, although if you are a pervious customer, they can waive that, too.
I was wondering if you could provide the money factor and residuals for a 2009 Tiguan SE or SEL 4 motion with various time frames. I would consider 36, 39 & possiblly 48 months with either 12K or 15K mileage. Also, are there any incentives (i.e., loyalty)? Thanks for your help. I love these forums.
Sal
Sal
Price: $28,000 (from 30,000)
Down: ny taxes plus first month $2,000 (1,600 + 400)
Miles: 12,000 year
Monthly: $410 (10,000 miles a year was $390)
Here is my thoughts on the lease offered:
Price is way too high for what it is, the monthly is way too high for what it is.
Here is my thoughts on the spec and trim quality:
The cloth seats are a downer, they don't offer leatherette, and the leather option, although nice is way overpriced. The lowest lease price excludes the sun roof which ruins the quality of the car if you don't have it. The fit and finish is just at Honda CRV or Toyota RAV4 level, but the ride in the VW is better. If I had specked the sel with leather, roof, auto and nav the lease price would have given me a heart attack, it would have been near $500/month or higher.
Here is my thoughts on the dealer:
Euro snob attitude,"car is in demand, car is better than competition, lease price is good, we have German engineering etc". Right now, I'm having trouble washing his cheap cologne off my hands.
Let me ask you, is Volkswagen a premium Euro brand that has some kind of pricey cache in America? It's an in demand, hard to get your spec, never discounted, no real incentives, a come on price on the website but in reality a very expensive car? But in reality is, and should be priced as, a Euro version of Honda? I'm just asking.
Sal
Don't worry about those numbers on the Tiguan. I threw in the towel and gave up. The SEL models were too hard to come by and most of the dealers were major creeps :mad: . Only one seemed sincere (but could not get the car), the rest were crooks thinking they were the only game in town. I opted for a 2009 RAV4 Limited V6 4WD fully loaded. They lease much better than Volkswagen. I'll post my deal after I pick it up on Saturday. Thanks anyway!
Sal
Car_man
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I'm going in to do the final lease contract and pick up my car on Wednesday as well, and would like to make sure I have the right numbers.
The MSRP for the SEL 4Motion as equipped is $37,330, +$349 mudflaps (installed) and $59 iPod cable (not sure if they are included for lease residual purposes). Selling price is $35,650 including all items.
Los Angeles sales tax is still 8.25% until April 1, and tire tax, doc fee and registration fee will total about $390. I will be paying drive offs only, and have top tier credit.
I'm looking at 36 and 39 month lease, 12000 miles a year. Thanks in advance if you can check on this before wednesday morning.
Mike K
The money factor and residual value that I provided you with are definitely right. They actually are slightly different for March. VW Credit's current buy rate lease money factor for all Tiguan models is now .00147. Its residual values vary by trim level.
VW Credit's 10,000 mile per year residual values are 3% higher than its 15,000 mile per year resids.
Car_man
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Car_man
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The numbers for the SEL 4Motion are exactly the same. If you were to lease with only 12,000 miles per year, this vehicle's residual values would be 2% higher.
I don't believe that Volkswagen is currently providing any cash incentives on leases of this model, other than the $500 owner loyalty cash.
Car_man
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Car_man
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Sal
Tiguan SE 4motion, Gorilla gear, after market leather($900) , panaramic sunroof MRSP is 31,064... they are claiming that the internet was wrong on price and the MRSP did not include the leather seating... so it should be 31,964.
I was hoping to keep my payments around $275.00 with 6,000 down. Here are two options they gave me...at 15k miles/36 months...
Cap Cost: $29,000
Residual: 50% or $15,532
Cash Down/ Cap Cost Reduction: $6000
Rebate: $500 Owner Loyalty
Adjusted Cap Cost: $23,732.34
Costs Added To Lease: $575
Money Factor: .00158
Total Sales Tax: 1096.09
Payment: $289.81
Total Initial Fees: $265.50
Total Annual Fees: $75
Driveoff (Total Money Out Of Pocket): $7069.06
OR
Cap Cost: $29,000
Residual: 50% or $15,532
Cash Down/ Cap Cost Reduction: $5000
Rebate: $500 Owner Loyalty
Adjusted Cap Cost: $24,803.68
Costs Added To Lease: $575
Money Factor: .00158
Total Sales Tax: 1099.93
Payment: $321.27
Total Initial Fees: $265.50
Total Annual Fees: $75
Driveoff (Total Money Out Of Pocket): $6,033.02
Thoughts?
Also... they didnt run my credit but I would like to think im in the 800"s...Couldnt I get better than .00158?
How can I know this stuff for sure...call vw credit?
Also, watch out for after market leather. It's usually cheap and doesn't hold up as well. (I thought VW now offers an SE with factory leather). And what the heck was with that $75 annual fee? Never saw that before. Good luck with whatever you do but don't act too quickly. Salesmen take advantage of that (and I am not too fond of VW sales tactics).
"If we can agree on the numbers today, will you buy it today?" Come on people!! Im going to buy a thirty thousand dollar item in two hours!!!!
Oh, and did anyone hear this one..."WV buyers are typically more educated and do their homework" Well thank you but I bet you say that to all the girls!!
My guy was young and very nice but his dialogue was so canned.
Anyway... thanks verystingy
girlienoir, can you give us the final figures, payment, price etc?
I have always been a fan of VW, and a previous owner, but my nearest dealer is 35 miles away. I also feel, as do many others, that the Tiguan is overpriced by as much as $4000 - that's a whole year of extra payments. I have a similar reaction to the Lincoln MKZ versus the Ford Edge -- $5000 extra is an awful lot for a bit of bling!
$394/month, incl. tax
$1200 out of pocket, including first month's payment.
Total cost: $14990
I signed. To be frank with you guys, I don't get the whole fretting over the MF and invoice price. I don't really care how they play around with the numbers, so long as I'm comfortable that that is a good price. Also, this is the first dealer I went to. I had previously spent a week getting a base-level Murano down to $375/month with tax, so I figured for $20/month I'm getting a better car and I don't have to go crazy negotiating.
Am I wrong? Is this a bad deal?
Also, purchasing it at $415 for 72 months means I'd be paying 3% interest. Where do you get that rate for a 72 month term? You can't even get that for 36. Besides which, I'm deathly opposed to purchasing new cars.
Oh, and just FYI for everyone, VW has a new grad special that's not on their website (it's on the VW Credit website), with which you can get your first month's payment. So I've effectively now given $800 down, which includes acquisition, DMV, etc.
Post your MSRP, sale price plus fees, residual and money factor and we can more accurately gauge your deal. I was merely saying $400 a month with $1200 down ain't too great.
As I was saying earlier, however, it doesn't matter to me what the money factor or APR is. All I know is this: the car is worth a certain amount; in my case, let's say it's $29,000. After "renting" it from the bank it depreciates by a percentage of its original value; for the Tiguan, let's conservatively say it's 50%, i.e., the car is worth half of original value after I'm through with it, which is $14,500. This means that for the bank to break even, i.e., get back the $29,000 it gives to VW for the car, it has to charge me $14,500 and then hope it gets the same at auction at lease end.
This means that my base monthly price should be $14,500 / 36 months = 402.78, not counting tax. Tax in my state is 7%. Thus, over the life of the lease, I have to pay about 50% of that, which is $1015, and over 36 months is $28.20. So my total, if the bank had its druthers, would be $430.98 (and they'd hope to sell the car for more than $14.5k). I'm paying $394, including tax. How's that not a good deal?
Reverse the numbers. I'm paying about $365.80 as my base price. At that rate, after 36 months, the bank is getting $13,168.80, which means it only depreciated 45%, which is realistic, but also optimistic. Even if I could have negotiated longer and gotten the price down to $27,000, my deal is still good, as my monthly payments end up being 48%, which is within the ballpark for depreciation amounts. So, if you think I'm wrong, please educate me where the mistake is. I'm not being facetious here, I'd really like to know.
Also, the $1200 isn't money I put down. I put $0 down, as putting anything down is silly in my opinion. The $1200 includes first month's payment ($394) (which actually I'm getting back due to graduating in the past 24 months), acquisition fee ($575), DMV fees ($187), tire fees ($7), etc.
Second, in a lot of areas, including mine, you can get 0% financing for up to 60 months. Assuming you qualified and used your $1200 due at signing to lessen your sales tax burden you could've bought this for $27,000. Payment would've been $380 on a 60 month loan. Why lease when buying is cheaper? That's the point of leasing (to lessen your payment since you are just RENTING part of the value of the vehicle). In my opinion, if you can't save at least $100 a month leasing, BUY IT.
Back on the leasing subject. You paid your acquisition fee up front. This is money down whether you think so or not. It isn't Cap Cost Reduction but it is money that is normally included in a lease.
Personally I don't see how your lease payment is even as low as you claim. The residual is 53% right? So MSRP is $29,625, residual is $15,701.25. You said in a previous post "Even if I could have negotiated longer and gotten the price down to $27,000.." What was your Net Cap then? At $28,000 it would mean a base payment of $341.63 plus $64.24 for rent charge at 0.00147. That's $434.28 including tax.. And before you claim you got $27,001 or $27,999 or anywhere in between the actual $27,000 NET CAP (which you claimed YOU DIDN'T GET) would = $402.98 including tax
Like I said earlier, it's easier to comment on your lease deal if you post the MSRP, Cap Cost (sale price), Net Cap (sale price plus fees, minus down), Residual, Money Factor. Post those numbers and everyone will be able to see how you really did. You can pull them right off the lease contract. It will take 2 minutes.
As far as leasing v. buying, cheaper payments is one of the reasons, but I also don't want to worry about repairs outside the warranty period and trading the car in once I'm through with it, and I'd rather get a new car every three years. But that's just personal preference.
How do you get $380 for 60 months on a $27,000 car? $380x60=$22800. Sixty months of payment on $27k is $450, which is close to the $100/month you were talking about.
Also, I have a question for you. When I was at the dealer I asked the salesman about VW having a damage waiver and he said VW did not offer one. But he then said that they don't bother with small scratches ("less than the size of a credit card"). I asked him if that's in writing somewhere and he said it's in the contract. I asked him for a blank copy of the contract to read over before signing, which he gave to me. The contract clearly specifies "any damage." I called him about it and he said that it may not be in the contract but that's their policy and he would pull something off the VW Credit website to "ease my worries." Needless to say, although I've spoken to him a couple of times since then, he hasn't mentioned anything about it. Anything I can do to finagle a lower price out of him? Tell him I'm having second thoughts?
As far as damage goes don't fret. Near lease end they will send you a template in the mail. It has a circle that each deep scratch must be within. Each cigarette burn must not exceed another circle, etc. etc. Basically, unless you trash the car you are good to go. Don't even think twice about it.
PS: Before you sign anything LOOK OVER THE NUMBERS. I know you said you don't care about the numbers but leasing is all about the numbers. Check em out.
i've read in another post something like "a $28,000 nissan may lease for $450 /month while a $28,000 honda may lease for $350 / month, some lease better than others"...
with that, can i get some opinions about the best deals out there? which crossovers/ suv's "lease best"?
we've looked at the:
vw tiguan (overpriced, quoted $393/month / 36 mos, 0 down, base s model)
nissan rogue (quoted $330/month/ 36 mos, ttl down, base SLmodel (cloth, no premium, but awd - we also have nissan loyalty and friends/family)
considering the ford escape, but no american mfg's seem to be leasing atm...
also, my current lease is up end of june - which is end of dealer quarter - is it better to wait till then to negotiate?
The main reason Honda, Toyota, VW don't have as good of lease deals is because most of the time you can barely get any discount off the sticker price. Also becuase they typically have way higher money factors (lease rates).
There are two parts of your lease payment, depreciation and rent charge. The depreciation part of figuring your lease revolves around the residual value. The residual value of a lease is set by the leasing company. You want it to be as high as possible but it's normallly between 45-60% on SUV's. You multiply that number of say 50% times the MSRP. So if a $30,000 VW Tiguan has a residual value of 50% then the residual is $15,000. You then subtract the residual of $15,000 from the SELLING PRICE of the vehicle. Let's say you negotiated a selling price of $27,000 on the VW. Then you add the acquistion fee of $595 so your net cap (sale price plus fees) is $27,595. $27,595 minus $15,000 equals $12,595 which you then divide by the term of 36 payments. As you can see you are already at $349.86. Not good. The rent charge portion is the net cap (sale price plus fee(s) of $27,595) plus the residual $15,000 times the money factor .00147 (set by leasing company). i.e. $27,595 + $15,000 X .00147 = $62.61. $349.86 plus $62.61 = YOUR BASE MONTHLY PAYMENT OF $412.47 NOT INCLUDING SALES TAX. Add even 7% sales tax and your payment is $441.34
Ways to get a lower payment. 1. Find vehicles that are heavily discounted off the sticker price. Ford, Chevy, Subaru, Dodge can get you $5-9.000 off the sticker without blinking an eye. That Subaru Tribeca I mentioned has an MSRP of about $33,000 and sells for $26,000. 2. Find a vehicle with a high residual value. 3. Find a vehicle with a money factor of below 0.00175. You don't necessarily have to have all 3 things but definitely 2 of 3.
i'm near Detroit and can probably get an A plan on any American make, but i hear none are leasing right now. we have not shopped Subaru at all, but they are now on the list!
MSRP: 29,924
Cap Cost: 26,497.12
Net Cap: 27,770.35
Total Cap: 28,329.71
Residual: 15,859.72
Money Factor: .00147
Monthly Depreciation: 330.85
Monthly Rental: 64.14
Monthly Payment: 394.99
Sales Tax: 956.60
Luxury Tax (?!): $105.99 (I'm going to ask them to take this off - what the hell is this nonsense?)
Bank Fee: 575
Other fee: 195 (should I ask for this to come off as well? Sounds shady)
Cap Reduction: 559.36
Total Depreciation: 11,910.63
As you can see, it looks like they made the residual way lower - it's 57% of the Net Cap.
These numbers are a little off because they were run prior to the grad program being mentioned, but you get the idea. Thanks in advance for your input.
You see that you are putting down $559.36 right? This makes your pre-down Cap Cost Meaning you are only $1600 under MSRP.
So what are you saying? Bad deal? So-so?
When negotiating your lease on this truck, make sure to take advantage of the $1,000 cash incentive that is currently available on it.
I would be happy to work up a sample lease payment on the exact Tiguan that you are interested in for you if you provide me with its MSRP and selling price.
Car_man
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I got a quote for a 36mth/12k lease on a Tiguan SE automatic with sunroof. MSRP 28,975. for 408. monthly , cap reduction 1,664. lic and doc fee extra. Purchase option is 13,678. excess miles .25 . Is the a good deal for lease in NJ?
I'm looking for a 12000 mile lease for 3 years.
Thanks.