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Comments
Fees: Washington Assoc. Fee is $175.
Papaanton: The best way to get a good lease price is to use the conventional approach. Shop around, and compare different lease numbers. While many dealers do use hugely inflated lease numbers to get large profits, they ordinarily won't let you leave without "what-If"ing you down some. The worst mistake you can make is to split your negotiating. You can waste tons of time negotiating the price down, and then get killed with a high lease rate. My advice is, if you're going to lease, why worry about the price? By shopping for the best payment, it automatically follows that you'll have the best price when you get the best payment. And try the 39 month payment, its unusually strong for some unknown reason.
Jason
Jason
Retail whatever they want to charge basically.
Jason
The VW site is commerce.vw.com. Look in the Passat Accessories 'Travel and Comfort' section.
I purchased the car and can offer no help on a lease, except that isn't the purchase price of the car on a lease one of the most important determinants of the cost of the lease, along with the residual value, of course. I think you should be negotiating the acquisition cost of the car in a lease just as vigorously as you would on a purchase.
Jason
Car_Man
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Smart Shoppers / FWI Message Boards
Traditional thinking (including this site's own leasing guide) would support fiftyfive's argument re: bringing down the negotiated sale price(aka net cap. cost). After all, my monthly payment would be based on the negotiated sale price-residual value aka the monthly depreciation + the lease charge (which is based on the money factor...).
But, ffxvw (who I'm certain didn't need the refresher on lease calculations any more than fiftyfive)has got an equally valid method (that should get the same result, as long as you understand the lease process, and that may be quicker). For example (grossly over simplified):Fiftyfive might go into a store (with a dollar to spend)and ask, "how much or your widgets?" and negotiaing from that point; ffxvw wouild say "I've got a dollar, how many widgets can I get," and go from there.
In the end, I think I'll just fax a 'bid' letter (per www.fool.com's suggestion) to local dealers--anything to avoid facing those sharks. Thanks again
Residual is 69% after two years 24000 miles
Residual is 62% after three years 36000 miles
Money factor is .00320 or 7.68% on the above terms
WV Acquisition Fee is $490
I have not been able to determine if there is a disposition fee. I will ask Car_Man to help with that info. In Phoenix, AZ, dealers will also charge a DOC fee of $199 to $299. This is mostly profit, but I have yet to find a dealer of any brand waive this charge. I have not closed a deal with any dealer yet, but I plan to offer $500 profit over invoice (dealer keeps hold backs) plus the $117 port/flooring fee that WV invoices. Thus, a GPS 1.8T with Luxury (PJ6), Leather (PAD), Home Link (VC1), Monsoon Radio (RAM) with a sticker of $25,805 will negotiate down to $24,053. Not including any DOC or acquisition fee, I would have a monthly payment of $394.19 plus AZ's $29.56 in sales tax for a two year 24,000 mile deal with nothing down. I am annoyed at the above market money factor and I may decide to wait. Thanks for your input and help.
It was pretty recently. If I recall... aren't those the base residuals or did you add to the 36 month figure for the 12K/Year? If I remember... it was a 64% residual.
The base published residuals are generally for 15K miles per year, 12K per year generally calls for a 2 point add, however.. If you're going to do much more than 13K/year the 15K program generally is cheaper net to net.
Also, I think VW May only offer a 15K/year program on the 24month. and I also think they may allow a 3-month ad to term, I.E: 36 month residual allows a 39 month term.
.00320 isn't that bad really these days. Lexus is at a .00345 in comparison, and most banks are above .00320 with the one exception being Fifth/Third bank and also Firstar generally matches Fifth/Third's program. They're at a .00285 right now I think for 36+ month terms with a security deposit. They get pretty high on the 24 Month terms however they may be enough lower on the residual to negate any savings, and also they do not include GAP insurance (Generally $100-150) in their leases in states where it is not required. However, my experience with them has been pretty positive.. they're rel sticklers for contracts having everything done to a "T" and they can be picky at lease end so be forewarned.
They may do Business in AZ.... It pays to ask as they are cheap!
Bill
Mine is only set up for Banks that do business in the Southeast. (I.E. SunTrust, Huntington, Washington Mutual, FirstUnion, etc..) as well as the manufacturer's arm. It's made by a company called Market Scan (http://www.marketscan.com) and costs us about $800 per month per terminal I believe.
You ought to be able to add the warranty to the capitalized cost of the car, it's just not allowed as a "hard add" (I.E. it cannot be residualised like, say, a CD Changer).
And, yes, they can change those programs whenever they feel like it. I always get a kick (Im being kind here) that whenever the fed raises rates the banks always fax us higher rates within a few days, yet when the Fed lowers rates it always takes em a couple of weeks to catch up...
Hope this helps... I'd run the car through Lease Prophet for ya but it may not help ya in the Southwest...
If I get the time today I will.
Bill
Not sure if you are talking the Tip or Manual but either way, that sounds like a rip off or a really bad rip off. I had someone quote me 29,375 for the GLX Tip and I laughed and told him we both knew that $29,375 was not even close to reasonable. Although I actually did get mine at invoice (I had connections), market conditions are not allowing pricing that low at this point. I have seen many reports of 2-4% over invoice (invoice + desitination ONLY). My last quote before I bought was $27,231. Assuming you are getting the Tip, I would think you could get AT LEAST another $500 knocked off of that price.
If you would like additional information on my buying/negotiation experience, e-mail me and let me know.
I'm interested in purchasing a 2001.5 GLX automatic. Has anyone bought one recently in San Diego? If so, what dealer and what price? Also, has anyone dealt with Credit Union Buyer Direct? I hear it can find you a new car for below invoice... is this true?
Any help is greatly appreciated...thanks
Good luck!
Any feedback on this would be appreciated!
BTW, it's for the Passat GLX Tiptronic; I could also consider a 5 speed. Have you bought the 5 speed with that price you've quoted? Financed? I don't know how to get your email info here. I'd like to hear how you bought yours.
Thanks in advance.
local AutoStereo shops and price an 8 Channel, 200
Watt, Actively Crossed, Amplifier, and a Six Disc
Changer, and Component Speakers...6 1/2", and if
they will give you a 24 Month Warranty for all
parts & labor...Included free.
I am sure that you will find $734 to be quite
reasonable... Hope this helps...PS
An urgent feedback is most welcome !!!
and it states $29566.00 Inc. $550 Destination.
My Invoice on this Sedan is $29,683 Inc. Destination, Port Prep, and FloorPlan Interest
Reserve.
Can FAX you a copy if you like...
Let me know what aspect of the sales process you are interested in and how detailed you want me to get--I have a tendancy to get really detailed.
And yes, I did pick up my GLX (manual) about 2 weeks ago for $26,664 plus about an additional $120 in BS fees (dealer doc and some inventory tax). So I really paid $120 over invoice. I financed my purchase (less $12k down) at 6.65% (5 years).
That price is a *great price*, assuming that they aren't gouging you with many additional fees aside from tax (sales), title and license. Alot of times, dealers will add on an inventory tax, dealer doc, advertising fees, etc. Just make sure they are quoting you the 2001.5 and that you get everything in writing, including the VIN.
Was this in Texas? Texas Charges .002something for Inventory tax. it's sometimes called an "invoice tax". It's charged by the State.
Bill
are a "Dealer Add*. I think there is a topic some-
where here that insinuates...no accuses, Dealers
of actually printing their own Invoices.
Kristy...I can assure you that these are not *BS
Fees* and that a quick call or email to VWOA will
confirm that every VW Dealer in the US gets the
exact same charges, ie., Port Prep & FloorPlan Interest Reserve...$25 & $92 respectively. Various Zone Advertising fees apply where appropriate. We do not have one here, but there is a $75 fee in the SF & SJ area, and $100 in other parts of the state. What it might be near
the River Walk or near the Galleria I do not know.
But please, you know me, this is the truth...No more posts about *BS Fees*...
Yes, I will admit that both of those items (floorplan and prep fee) are on the invoice, however, as stated above, I was not even referring to those two as BS. That said, I think it is interesting to note that I was *verbally* quoted with the exact term "at invoice" by TWO different dealers and when I received the formal, written bid, neither of them had the port prep or the floorplan interest resere in or added to the price. This was without any request or prompting. So, it appears as if the term 'invoice', and what are and what aren't considered valid fees, is inconsistent even among the dealer population.
Thanks.
My dealer wants me to pay $432/mo for a 12K, 39 month lease (no money down except first lease payment) on a new GLX that stickers at $30,375.
Is this a good deal?
Thanks
You need the cap cost, (and find out if that includes the bank fee or not), the residual and money factor...
Bill
Was that a "2001.5" Passat GLX that you got that deal on? I ought to pay you to come negotiate for me. Here in Northern California every lot seems to have 25-30 Passat's but the dealers all think they are something special. I keep telling them that I'll wait until they get their heads out of the clouds.
feel free to e-mail at bgbgl@aol.com
thanks
Yes, I see what you mean.
Cliffyb-
Yes, that was a 2001.5 GLX (manual). I should clarify that the price I got was because I had connections with the sales manager. This was disclosed in several previous posts but not in the one you are probably referring to. That said, I think that you could probably get the same model I have for somewhere in the low 27k's, at least here in TX. I had several quotes between $27,250 and $27,500 before I bought. I'm not sure what type of pricing you have been getting, but if they are quoting you MSRP, move on to the next dealer.
If you are REALLY interested in buying a new Passat, or any other car for that matter, I would
suggest that you do it now, while the market is so
soft...
This past Thursday, 3/15, *Consumer Reports* released their latest Reviews and the 2001.5 new
Passat won in virtually every category...safety, performance, etc...If the New Passat had been launched 6 months ago; the prices that are being quoted here would be of "pipe dreams".
I have said many times that the *market* dictates price, and now, more than at any time in the recent past this is being proven to be true.
The DJIA suffered it's worst one week loss in history a/o Friday night...The NASDAQ is where it was in 1998.
If there was ever a better time to buy the Best of the Best; it is now...because when the economy turns; these steeply discounted prices will go away...
If our Flagship product, and those under it, had been launched during a period of surging economic news, coupled with the stellar reviews, all of the posts here would be braggadocio about the ability to purchase this extraordinary car for MSRP, and not having to pay any added Dealer mark-up.
To see this fantastic product being sold off, like some distress
merchandise that has little or no value, does not make me happy.
To every one of you that build or sell a product that you take pride
in...give that some thought...If you build homes for a living...I
am sure that you understand that when the market goes soft, and the
extra effort and craftsmenship that you have given to a project is
given NO VALUE...it is humiliating. We are all hard working folks
here...well, at least for the most part, and I have to assume that you
also take pride in the products you produce, or the services that you
provide...If those products & services were prostituted with equal enthusiasm as ours are here; I am sure that you would be less than
thrilled...
Craftmenship should better show through on the resale value which is terribly important to the cost of ownership. Every dollar I spend on the new car whether its invoice + $1 or msrp has no impact on the value of the car when I decide to resell 4, 7 or 10 years later. It is therefore only financially responsible to make the best deal I can for that new car. Because of that simple reality, I will not buy any car at MSRP and will either delay the purchase until demand decreases or look for another high quality vehicle that is not in such great demand at the moment. Except in the very rare exception cars are a heavily depreciating purchase.
The Passat has been recognized by the trade, by consumer mags and others as a well built and well crafted automobile. All that participated should take pride in a job well done. The state of the DIJA or NASDAQ should have no impact on that satisfaction much less cause any humiliation. Now for me, some of my stupid investments were humiliating.
Many people are realizing that it is *a better value* to enjoy the financial peace of mind that comes with continuing to drive their current reliable vehicle, perhaps w/o payments, than it is to lease or purchase the latest 4-wheeled depreciating asset, that also happens to come with burdensome monthly payments.
The economy is doing poorly now, and you can be sure that the ripple effect of thousands of layoffs will continue for months after any projected upturn. I'm thinking that this, and subsequent years will be tough ones for the auto industry, in no small part because marketwide auto leasing is taking a huge hit. More and more people are turning to buying--and without the "programmed 3-year plan mentality" of leasing, I think that many will keep their cars, even after they have paid them off. Can you imagine the impact to the auto industry, if people suddenly started keeping their cars for just one year longer? Can you imagine the peace of mind that comes with 12 payment-free months?
I just test drove a 2001.5 GLX auto...awesome car!
I have a question regarding it's invoice price. I looked up the invoice on three different sites Edmunds, Cars.com, and Kelly Blue Book. Why are all three very different with KKB being the highest?
Invoice MSRP Destination
Edmunds $26,699 $29,285 $525
Cars.com $26,114 $28,750 $550
KKB $27,187 $29,825 $550
From what I can tell, these invoices do not include the destination cost...is this assumption correct? Also, which site is more accurate and/or more reputable?
Anyone’s help/input is greatly appreciated...thanks.
Jason