Clpurnell...Seems like you have done the research on Chicagoland Passat pricing. Where did you find the best willingness to deal? We are looking for 2001.5/2002 GLX 4Mo Wagon Reflex w/ Black. Cheers
So far it seems west side auto group in Maywood they are the ones that responded to my internet quote. If not them try Larry Roesch on North Av. in Addison(I think They have that exact combo on the showroom floor) . Haven't dealt with some of the other big VW's stores (ie Auto barn). Best bet do the fax attack or e-mail attack and offer invoice. Let them come back with a counter. Passat's seem plentiful in the area right now. Best bet though buy a 4motion before the weather changes. They will carry a premium when the white stuff starts to fall.
Thanks to both Justinl and clpurnell. I'll let you know how it goes. I do want to hear what they ofer on price of 2001.5 vs 2002, since they should probably know the 2002 price details now.
Car_Man Host: So if 2002 Passats should be trickling in to dealers any day (although as of last Friday nothing at the couple of LA-area dealers I visited), when will Edmunds post their 2002 Passat price guide/TMV information? I hear there are no scheduled increases, but don't new cars *always* cost more just by virtue of being new? TIA.
No 02s will be trickling in any day this month...Think August...There are no price increases scheduled for the 02 Passats...This does not include any other model.
That's interesting because VW Credit has already issued a lease program on the 2002 Passat. Given the fact that they revise their lease programs on a monthly basis, one would think that they should be arriving in showrooms very soon. Vwguild, they really won't begin to show up until August? That sounds a little late to me, but then again you do work at a VW store. Thanks for the information.
I am in the process of looking at Passats--I have Jetta lease up in August (but can extend a few months). I've been offered invoice on the 2001.5 Passats and some good lease terms, but since I am leasing, the 2002 warranty is a big deal. I've been told somethings by a dealer that I would like to deal with, but don't know if I trust. Could you separate some fact from fiction?
(1) The dealers do not have the pricing on the 2002 Passat yet.
(2) The price for the 2002 will go up, the money factors and residual will not be as good.
(3) The cars won't be in until September.
(4) No way will they be sold near invoice.
(5) If I lease the 2001.5 now for 39 months and buy an extended warranty to the end of the lease, it will cost me about $650.
This is from what I know so far... Obviously VW is being tight-lipped because they want to see us moving 2001.5s, not 2002s.
1) Correct. I dont know yet.
2) They're not *_supposed_* to go up for 2002, but I would not be surprised if they do that 4yr/50K warranty. Residuals are higher, money factors won't be supported at least initially.
3) Who knows. I hear Mid-August, then I hear Sept, then I hear mid August, then I hear end of Sept... I keep hearing before the end of August tho. Again, till the cars actually show up with ETA Dates set in stone, I don't want to be quoted on it
4) Who knows? We sell 2001.5s near invoice sometimes, but not as a rule. National Average sale price of a 2001.5 Passat is roughly $975 off of MSRP. But that's my market, yours may vary. I doubt we will have to sell 2002s near invoice though.
5) It's like the old saying... "you pays your money and you takes your chance". I'd say that the lower payments are, of course, going to be on 2001.5s. That being said, the $650 is roughly $20/month if financed into a lease contract. The cars will effectively be identical, I'd say that if the 2002s are more than $20/month more than the 2001.5s (Quite likely) that you're better off with a 2001.5 The key is to look at your total costs and this assumes you wont be buying it at lease end.
Brentwoodvolvo, I know what you mean. I guess that I just assumed that they would be arriving soon. Heck, Lincoln has had money factors and residual values out on the Blackwood for months now. In fact, they just introduced a new enhanced special financing program and supported lease rates on it and it still has not arrived in showrooms. Perhaps they'll enhance the program on it so much that it will be free by the time that they finally hit dealers .
S852, VW Credit's current lease money factor on the 2002 Passat is .00299 for up to 36 month terms, which is nothing special. The car has solid residual values, for instance the model that you are thinking about getting has a 58% residual for a 3 year lease with 15,000 miles per. Of course, since this program is only scheduled to run through July 31st and as our well-informed friends have told us it the '02 Passat probably will not arrive at dealers until mid-August the current lease program really does not mean a whole lot.
You mean like how we got the S-Type lease program, pointed out that a well-equipped 4.0 would cost as much as a Vanden Plas and howled at Jaguar? Yeah, they changed it like 3 times before the cars hit, then it got a lot better after the first month. To Jaguar's credit they did send the first S-Type lessees a rebate check, which I thought was very nice of them.
On to the Passats.. when I know I shall post In the interim, I asked my desk guy tonight and he said that he figured that whenthe 2002s hit, that the 01.5s will be $40 or so per month cheaper...
Also, IIRC, aren't we at like 56% base res now with like a .00220 factor on the 01.5s? I havent paid attention recently and its' mdnight now..
When I expressed an interest in ordering a 2002 4 cyl sedan. I was quoted the 2001.5 MSRP for that car for late July-early August delivery. I was also told there was little or no room for price negotiation since the dealer has a fixed open-to-buy quantity to purchase during the year and they would have no problem selling this number without significant dealing - (they do have only a minimal inventory of 2001.5's now).
Two questions, please:
1) Is there anything to the fixed open-to-buy statement? 2) Are prices generally firmer at the start of a model year than one or two months later?
As is true of all dealers within 200 miles, this is the only VW dealer in the city (1 million pop.) Thanks. 2)
First of all we do not have new 2002 Pricing Guides...That and the statement in question #4 ends the true statements from this Dealer...
Invoice & MSRP are scheduled to remain static for 2002 Passats, even to include the post Week #32-33 cars that will come with AM/FM/CD/CASS. And it would seem reasonable to me, that with a new 4 Year/50,0000 mile Bumper to Bumper, and 5 Year/60,000 PowerTrain, Volkswagen Credit will INCREASE Residual Values; not lower them, and money factors will remain competitive.
I do not know where you live, but there are 2002s on the ground in New Jersey; here in California and for the rest of the Western Region 02s will not be released until after the 3rd of August and available for Delivery by the 8th or 9th.
Point #4...Proudly & Happily I can tell you that Volkswagen of America & VWAG have no DISTRESS merchandise...There is absolutely NO reason for any Dealer to sell ANY VW Product for what they paid for them unless they are totally incompetant...And if they are; then I would take advantage of that weakness and buy not one, but two, and then sell the second yourself and make the profit...But make sure you pay cash because they will be making money on the Back end of the Deal for sure.
The only difference between a .5 & an 02 is the Warranty...A Dealer contribution to the Purchase of a VW Masterguard 4 Year/ 48,000 Mile Bumper to Bumper actually makes the .5 the better Value.
Another component to the bottom line though is that the new Warranty is, by design, going to attract more Honda, MBZ, Toyota, BMW, and Nissan customers, thus adding to demand and reducing supply.
Make your decision based on conditions in your area...if the dealers are weak and offering Drastic discounts...Take Advantage and MAKE Sure you check with vw.com and here at Edmund's and Magazines like AUTOWEEK for published Incentive Financing. You can also go to www.intellichoice.com for more info. And Know Your Credit Score. www.equifax.com will let you know how you score Credit wise...Don't get sold on what you feel is a cheap price and then get taken to the cleaner's in the Finance office...
From what I understand (I am not at this store every day, I'm a partner in it and rarely am at the sales desk) the 2002s have residuals 2 pts higher (Base) than the 01.5s. Again, factors are cheaper on 01.5s. right?
Pricing? They say no increase... But until I see it in writing, I dont believe it. GM has said this before and gone against it. I don't trust manufacturers.
I totally agree on the merchandise situation. These cars are miles apart from the domestics... Maybe thats why when I go to buy used Passats they're worth so much!
Irrespective, to me, Demand is still keeping ahead of supply.
Hank: That dealer may have been talking about allocation. We can't simply order an unlimited amount of cars (I wish). We're allocated "X" number of units.
The most current rates I have are thru July, and they are subvented...both APRs and Residual/Factors...not Retail. If VCI has sent over Rate Sheets for 02s they have not come across my desk because we do not have any, and I don't need them.
It would make sense to me, that secondary to the new Warranty, that adds substantial value to the car at years 3, 4 & 5, that this value will be translated to the residuals which currently fall off proportionately compared to those of competing brands with 3/36 or 4/48 B2Bs.
The information on 02 Passat pricing you can take to the bank...Increases are certain on some models of Jetta & Golf with the new PowerTrains and on upcoming Special Edition Beetles...Turbo S, etc., but that should come as no surprise...
Give me a call sometime...you'll find a Toll Free at my website...
As of early July, a dealer in Boston said 2002 Passat will come in about three weeks... which is determined by VW co. when the total inventory goes below a certain number (This is what I heard.).
As for price, I recently visited "Boston VW" and they didn't have any Passat. Instead, a salesperson offered me a Jetta Wagon GLX at a price just over invoice. So I guess pricing for Passat should be in somewhat similar situation. I think there is an incentive from VW to lower inventory, so the real dealer price should be quite lower than invoice price.
I know of the incentive financing program currently offered by VW for the .5s; but does VW in general give rebates/incentives/specials? As the '02 is basically the same model, would they nevertheless have any kind of rebate/special to launch its arrival?
Clscflm, since you are already aware of the special financing program that Volkswagen is offering consumers on the 2001.5 Passat, I won't bother to post the specifics of the program here. However, I can tell you that Volkswagen is offering its dealers $300 Dealer Cash on all 2001.5 Passat models that may be used in conjunction with their special financing and lease programs. Most people aren't aware of the extra cash that is out there on this car.
It is difficult to say for certain if Volkswagen will offer any sort of special financing or lease rates on the 2002 Passat when it is first introduced, but I would be willing to bet that they will not have any sort of incentives on this car at all when it first begins to arrive at dealers. Incentives likely won't appear until a few months after its introduction.
Although in some circles one could consider the $300 from Volkswagen Credit as Dealer Cash, the fact that it is from VCI precludes me from jumping on that train...This is not INCENTIVE MONEY FROM VWOA....
This is Incentive Money, paid as Reserve, to the F&I Dept. It is a carrot...{but not for the Sales Department} to use VCI instead of BA, WFC, CMB, or any other lender that might be offering that Department incentives, contests, etc.
As much as I enjoy participating here, I find some information that Edmund' s elects, or not, almost by whim... to distribute without the the benefit of 2nd or 3rd sources really irritating. I have emailed Edmund's staff on more than one occasion that the $25 Port Prep and the $92 FloorPlan INTEREST Reserve fees appear on every Invoice, for every model, and for every Dealer Coast to Coast....These numbers appear on www.cars.com requests, they appear on www.carpoint.com requests, they appear on www.kbb.com requests for pricing information and yet Edmund's refuses to understand that this is the real deal and elects to exclude them in their Invoice calculations.... ...thus confusing the members they are supposed to serve!!!
This is no different, your staff is failing you, and getting you only 1/2 of the information...Edmund's.com is too important and too influential to rely on 1/2 of the truth...Car_Man...it is time to kick some butt!!!
This reference to "Dealer Cash" on all .5 Passats is yet another example...for there is none...
My experience in Passat shopping has been different than what you are saying (I'm in Fla). The dealers I've been to have MANY 1.5s on their lots, so how can it not be distress merchandise? Why would anyone buy a 1.5 if the 2002s have double the warranty and are the same price? My experience has been that every one of the 5 dealers I've spoken with has lied about when the 2002s will be in (another distress indication). They've all told me late September--October and said there will be a price increase. Although I've been offered a good deal on a 1.5 Passat--couple hundred over invoice--they refuse to discuss "throwing in a warranty" as you mentioned. I only need to cover from the 2 Year/24K to my 39-month lease-end, and they are quoting me $600-700 for that short period on an extended warranty. Again, why wouldn't I just wait for a 2002? Your idea is good, but none of the dealers in my area seem to have thought of it yet.
Also, I understand your frustration with Edmunds--but I can tell you for a fact that I was being consistently lied to about the money factor (when I could get them to even tell me the figure) until I proved that it had been published here--and then--guess what? It went miraculously from .00275 to the .00235 that was given by Edmunds. You have to understand, consumers need all the help they can get when going up against car salesmen. For every decent, honest one I've found, I've talked to 10 other horrible sales people. It is a totally exhausting and unpleasant experience for the most part.
It is my understanding that Fla. has some pretty strict insurance regulations that prohibit them from discounting warrany prices...In California these regs do not exist, thus my suggestion to assist with or provide some relief with the Warranty... I don't make a habit of using the term "throw in"...
My comments above are restricted to those specific items...I agree Edmund's provides extremely valuable information, but none of us are perfect...Having said that though, it is important that information being posted be rechecked for accuracy...My complaint about Port Prep and FloorPlan Interest Reserve is an old one that has never been corrected...
If you have found a Passat that you like, and you have come to a place where the price works for you, then I would contact a National source for your warranty extension that is outside of the state of Florida...Your Dealers hands are tied; he cannot give you a great deal and violate Fla. State Insurance Laws to make it more attractive to you...
Vwguild, you are free to call the $300 Dealer Cash that Volkswagen Credit, a wholly owned subsidiary of Volkswagen, is providing to dealers on leased / financed units whatever you want. However, the fact remains that dealers are making an extra $300 on units that consumers are already getting great lease and finance rates on that the vast majority of consumers are not aware of. This additional cash may have an impact upon how low a price dealerships are willing to sell this vehicle for and that's all consumers really care about.
I'm in Virginia, and we received our first 2002 Passat on July 3rd. We now have several wagons, and a few sedans. The pricing for these models have remained the same, and the residuals for the lease program are quite good. Residuals for July:
2002 2001.5
24-month 65-66% 63-65%
36 month 57-59% 53-55%
48 month 50-52% 46-48%
As far as the demand issue goes, its been my experience here that demand pretty closely EQUALS supply. While we do sell all of our Passats without too much trouble, there is no line of customers beating down our doors. Now, the warranty difference may cause something of a stir when the news hits the general public, but I'd imagine VW would anticipate that with a rise in production. We'll see.
Basically, if a customer wants to cancel a warranty then the dealer has to refund the MSRP of the warranty. It was oiginally designed to protect consumers from being hammered into a "Rule of 78s" warranty, and then only to find 3 days later when they went to cancel it that they could only get 70% (Or whatever) amount refunded.
I *_can_* discount a warranty, but if the customer ever goes to cancel it, I have to refund them the prorated list price of it. So if I sell one for a $300 discount, and the customer goes for a refund in, say, the first 30-90 days, I'm basically out $300.
A good law, that, unfortunately, now is hurting consumers >:| But Florida is full of ridiculous automobile sales laws. Ex: By the legal definition, I doubt that a single "new" car has been sold in the state yet. At one point that made financing them difficult to a small degree.
However, unless its' listed accurately (I remember when Edmunds had a $1,000 incentive listed on Jaguar XJ8s, XJ8Ls and Vanden Plas models. Correct, but only if you are a current Jaguar owner). Then it isn't doing anybody any good.
That VCI Bonus is ONLY on units sold/leased through VCI's subvented rates...it does NOT apply to ALL VWs sold/leased as I believe your post implied...*Special Rates* can come from any lender...
Re your 2002s--where does that leave you on your 1.5s? How do you convince someone to take the one with the old warranty?
Why didn't VW just decide to do the new warranty on all cars sold from the date of the announcement? Weren't they kind of screwing the dealers with this decision while there are still 1.5s sitting on lots?
How about leasing me a 2002, since apparently the Florida dealers aren't expecting theirs for months and months;-)
I heard from my dealer that although the new 2002 warranty is twice as long, the free services at 5, 10, 15 and 20K miles are no longer offered with the new warranty. If that is so, and the price I was shown to extend the 2001 warranty to 4 years/50K is approximately $460.00, then isn't this warranty issue pretty much a wash either way?
I'm not sure how you could call it a wash. How much are the service visits to change oil and rotate tires? As far as the price you were quoted for the warranty--I'm discovering that all dealers charge different amounts for the warranties. Mine quoted me $650 to extend it. That's not really a wash to me. And labor and parts are so expensive, that one repair out of warranty could cost quite a bit.
Surprisingly, it hasn't really affected sales. Like I said, the warranty isn't really public knowledge yet. Most people who come in to look at Passats have no idea about the change yet.
I went to buy a 2001.5 Passat GLS V6 auto and the dealer had to go out of town to get it. It was sold though. He can get me a 2002, but said it would be $500 more. Since the invoice is the same as last year's, and this won't have the in-dash CD, is it reasonable to ask him to install the in-dash CD +$500,sell the car as-is at the same price, or wait a month or so for the ones with CDs to come out? I know the warranty is extended by two years, but is this worth the extra $500?
My credit score is currently 649, due mainly to a few credit-card missed payments, and carrying credit card balances. My income is 70K. What sort of interest rate penalty should I expect?
Also, my girlfriend has excellent credit, but very little income (graduate school). Would there be an advantage to co-signing on a loan? Is it even possible to do so as we are not married yet?
For instance, right now VW has 5.9% 60-month financing. Is it possible I could get this rate? Or that my girlfriend could alone, or with me as co-signer?
We're looking into buying a 2001.5 Passat Wagon (as base a model as I can find). Just curious what my best strategy should be. Thanks!--x
as is, you do not qualify for manufacturer financing. You will need to be a tier one candidate, which means you will need to have 700 or above credit rating. From my understanding if you could make a $2000 - $5000 down payment a finance manager should be able to get you qualified.
It ain't necessarily so...*B* tier is 6.40% fo 60 Months, and *C* is 8.90%...In order to determine which you be, you need to find the one you wnat to take home and make your deal, and the Dealership will send it off to Volkswagen Credit for approval at one level or the other...
Your post #1244 is a confusing batch of information. The fact that you carry credit card balances does not hurt your score. But having missed some payments, you are lucky to have a score of 649!
The one piece of advise that I can give would be not to finance your girlfriends car. If she is that great, then marry her and then buy a car together. Otherwise, even with the best of intentions, you are setting yourself up for disapointment. Can you imagine if you marry someone else and the two of you don't qualify for the house that you want because you are still extended on the last girlfriends car loan? Yikes!
I think I'm going to purchase a 2001.5 GLS V6--the thought being that I should get a better deal on this model than a 2002. Using the price difference, I'd like to extend the b-to-b warranty an additional 2 years (up to the soon-to-be standard 4 year length). I figure this gets me 10 years of powertrain coverage, 4 years b-to-b, and 2 years free service for approximately the price of the 2002 (sadly, no in dash CD).
My questions: 1) Does this sound sound? 2) Approx. how much should an aftermarket warranty on a new Passat run? 3) Does Masterguard have a phone number, when I've looked the program up on the web I have found no pricing information.
Carrying balances certainly does affect your credit score, particularly if they are near the high credit limit. I had a customer with 2 good car loans who had never been late on anything, and his score was like 625. Of course he had 4 credit cards all within 10% of his max credit, which brought his score down immensely.
To echo the above, I think you might be mistaken about your comments to xweb re credit. I just ran my own credit with equifax and they explain if you're carrying *large* credit card debt this can seriously lower your score. I'm actually somewhat put off how much weight is given to student loans, which is what is hovering in my past. But amount of debt load *is* a criteria according to equifax. Good luck xweb. I'm curious why a large down would qualify you for the VW finance program -- is it just because it lowers the loan amount?
Comments
West Suburban Auto Group in Maywood is the best place to go. $200 over invoice on a GLX 4Motion Wagon. No gimmicks. Outstanding service department.
MAKE SURE THAT YOU ASK FOR SAM TOMAINO. He is the owner - I have known Sam for a long time. He will honor this price.
Thanks
Car_Man
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Thanks,
Michael
shortly thereafter...
no price increases scheduled for the 02 Passats...This does not include
any other model.
Car_Man
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She just wants a 1.8 with auto and DC. Moon roof would be nice but not needed.
Any advice will be helpful
Thanks in advance
Always great to deal with, and typically great deals as well.
401-438-5555
What are the current 2002 GLX Tiptronic lease deals?
I OWN part of a VW Store, and we wont get them until August 15th or so is what I'm hearing..
Heck, when I worked for Jaguar we got the S-Type lease program in 3-99... And the cars didnt hit until 5-99!
Bill
I am in the process of looking at Passats--I have Jetta lease up in August (but can extend a few months). I've been offered invoice on the 2001.5 Passats and some good lease terms, but since I am leasing, the 2002 warranty is a big deal. I've been told somethings by a dealer that I would like to deal with, but don't know if I trust. Could you separate some fact from fiction?
(1) The dealers do not have the pricing on the 2002 Passat yet.
(2) The price for the 2002 will go up, the money factors and residual will not be as good.
(3) The cars won't be in until September.
(4) No way will they be sold near invoice.
(5) If I lease the 2001.5 now for 39 months and buy an extended warranty to the end of the lease, it will cost me about $650.
Help--I'm having a hard time deciding what to do.
1) Correct. I dont know yet.
2) They're not *_supposed_* to go up for 2002, but I would not be surprised if they do that 4yr/50K warranty. Residuals are higher, money factors won't be supported at least initially.
3) Who knows. I hear Mid-August, then I hear Sept, then I hear mid August, then I hear end of Sept... I keep hearing before the end of August tho. Again, till the cars actually show up with ETA Dates set in stone, I don't want to be quoted on it
4) Who knows? We sell 2001.5s near invoice sometimes, but not as a rule. National Average sale price of a 2001.5 Passat is roughly $975 off of MSRP. But that's my market, yours may vary. I doubt we will have to sell 2002s near invoice though.
5) It's like the old saying... "you pays your money and you takes your chance". I'd say that the lower payments are, of course, going to be on 2001.5s. That being said, the $650 is roughly $20/month if financed into a lease contract. The cars will effectively be identical, I'd say that if the 2002s are more than $20/month more than the 2001.5s (Quite likely) that you're better off with a 2001.5 The key is to look at your total costs and this assumes you wont be buying it at lease end.
Hope this helps!
Bill
S852, VW Credit's current lease money factor on the 2002 Passat is .00299 for up to 36 month terms, which is nothing special. The car has solid residual values, for instance the model that you are thinking about getting has a 58% residual for a 3 year lease with 15,000 miles per. Of course, since this program is only scheduled to run through July 31st and as our well-informed friends have told us it the '02 Passat probably will not arrive at dealers until mid-August the current lease program really does not mean a whole lot.
Car_Man
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You mean like how we got the S-Type lease program, pointed out that a well-equipped 4.0 would cost as much as a Vanden Plas and howled at Jaguar?
On to the Passats.. when I know I shall post
Also, IIRC, aren't we at like 56% base res now with like a .00220 factor on the 01.5s? I havent paid attention recently and its' mdnight now..
Bill
Two questions, please:
1) Is there anything to the fixed open-to-buy statement?
2) Are prices generally firmer at the start of a model year than one or two months later?
As is true of all dealers within 200 miles, this is the only VW dealer in the city (1 million pop.) Thanks.
2)
question #4 ends the true statements from this Dealer...
Invoice & MSRP are scheduled to remain static for 2002 Passats, even
to include the post Week #32-33 cars that will come with AM/FM/CD/CASS.
And it would seem reasonable to me, that with a new 4 Year/50,0000 mile
Bumper to Bumper, and 5 Year/60,000 PowerTrain, Volkswagen Credit will INCREASE
Residual Values; not lower them, and money factors will remain competitive.
I do not know where you live, but there are 2002s on the ground in New Jersey;
here in California and for the rest of the Western Region 02s will not be released
until after the 3rd of August and available for Delivery by the 8th or 9th.
Point #4...Proudly & Happily I can tell you that Volkswagen of America & VWAG
have no DISTRESS merchandise...There is absolutely NO reason for any Dealer
to sell ANY VW Product for what they paid for them unless they are totally
incompetant...And if they are; then I would take advantage of that weakness and
buy not one, but two, and then sell the second yourself and make the profit...But
make sure you pay cash because they will be making money on the Back end of
the Deal for sure.
The only difference between a .5 & an 02 is the Warranty...A Dealer contribution
to the Purchase of a VW Masterguard 4 Year/ 48,000 Mile Bumper to Bumper
actually makes the .5 the better Value.
Another component to the bottom line though is that the new Warranty is, by
design, going to attract more Honda, MBZ, Toyota, BMW, and Nissan customers,
thus adding to demand and reducing supply.
Make your decision based on conditions in your area...if the dealers are weak and
offering Drastic discounts...Take Advantage and MAKE Sure you check with vw.com
and here at Edmund's and Magazines like AUTOWEEK for published Incentive Financing.
You can also go to www.intellichoice.com for more info. And Know Your Credit Score.
www.equifax.com will let you know how you score Credit wise...Don't get sold on what
you feel is a cheap price and then get taken to the cleaner's in the Finance office...
From what I understand (I am not at this store every day, I'm a partner in it and rarely am at the sales desk) the 2002s have residuals 2 pts higher (Base) than the 01.5s. Again, factors are cheaper on 01.5s. right?
Pricing? They say no increase... But until I see it in writing, I dont believe it. GM has said this before and gone against it. I don't trust manufacturers.
I totally agree on the merchandise situation. These cars are miles apart from the domestics... Maybe thats why when I go to buy used Passats they're worth so much!
Irrespective, to me, Demand is still keeping ahead of supply.
Hank: That dealer may have been talking about allocation. We can't simply order an unlimited amount of cars (I wish). We're allocated "X" number of units.
Bill
APRs and Residual/Factors...not Retail. If VCI has sent over Rate Sheets
for 02s they have not come across my desk because we do not have any,
and I don't need them.
It would make sense to me, that secondary to the new Warranty, that adds
substantial value to the car at years 3, 4 & 5, that this value will be translated
to the residuals which currently fall off proportionately compared to those of
competing brands with 3/36 or 4/48 B2Bs.
The information on 02 Passat pricing you can take to the bank...Increases
are certain on some models of Jetta & Golf with the new PowerTrains and on
upcoming Special Edition Beetles...Turbo S, etc., but that should come as no
surprise...
Give me a call sometime...you'll find a Toll Free at my website...
As for price, I recently visited "Boston VW" and they didn't have any Passat. Instead, a salesperson offered me a Jetta Wagon GLX at a price just over invoice. So I guess pricing for Passat should be in somewhat similar situation. I think there is an incentive from VW to lower inventory, so the real dealer price should be quite lower than invoice price.
zarin
It is difficult to say for certain if Volkswagen will offer any sort of special financing or lease rates on the 2002 Passat when it is first introduced, but I would be willing to bet that they will not have any sort of incentives on this car at all when it first begins to arrive at dealers. Incentives likely won't appear until a few months after its introduction.
Car_Man
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Credit as Dealer Cash, the fact that it is from VCI precludes me from jumping
on that train...This is not INCENTIVE MONEY FROM VWOA....
This is Incentive Money, paid as Reserve, to the F&I Dept. It is a carrot...{but not
for the Sales Department} to use VCI instead of BA, WFC, CMB, or any other
lender that might be offering that Department incentives, contests, etc.
As much as I enjoy participating here, I find some information that Edmund' s
elects, or not, almost by whim... to distribute without the the benefit of 2nd or 3rd
sources really irritating. I have emailed Edmund's staff on more than one occasion
that the $25 Port Prep and the $92 FloorPlan INTEREST Reserve fees appear on every
Invoice, for every model, and for every Dealer Coast to Coast....These numbers appear
on www.cars.com requests, they appear on www.carpoint.com requests, they
appear on www.kbb.com requests for pricing information and yet Edmund's refuses
to understand that this is the real deal and elects to exclude them in their Invoice
calculations....
...thus confusing the members they are supposed
to serve!!!
This is no different, your staff is failing you, and getting you only 1/2 of the
information...Edmund's.com is too important and too influential to rely on 1/2
of the truth...Car_Man...it is time to kick some butt!!!
This reference to "Dealer Cash" on all .5 Passats is yet another example...for there is
none...
My experience in Passat shopping has been different than what you are saying (I'm in Fla). The dealers I've been to have MANY 1.5s on their lots, so how can it not be distress merchandise? Why would anyone buy a 1.5 if the 2002s have double the warranty and are the same price? My experience has been that every one of the 5 dealers I've spoken with has lied about when the 2002s will be in (another distress indication). They've all told me late September--October and said there will be a price increase. Although I've been offered a good deal on a 1.5 Passat--couple hundred over invoice--they refuse to discuss "throwing in a warranty" as you mentioned. I only need to cover from the 2 Year/24K to my 39-month lease-end, and they are quoting me $600-700 for that short period on an extended warranty. Again, why wouldn't I just wait for a 2002? Your idea is good, but none of the dealers in my area seem to have thought of it yet.
Also, I understand your frustration with Edmunds--but I can tell you for a fact that I was being consistently lied to about the money factor (when I could get them to even tell me the figure) until I proved that it had been published here--and then--guess what? It went miraculously from .00275 to the .00235 that was given by Edmunds. You have to understand, consumers need all the help they can get when going up against car salesmen. For every decent, honest one I've found, I've talked to 10 other horrible sales people. It is a totally exhausting and unpleasant experience for the most part.
that prohibit them from discounting warrany prices...In California these regs do not
exist, thus my suggestion to assist with or provide some relief with the Warranty...
I don't make a habit of using the term "throw in"...
My comments above are restricted to those specific items...I agree Edmund's
provides extremely valuable information, but none of us are perfect...Having
said that though, it is important that information being posted be rechecked
for accuracy...My complaint about Port Prep and FloorPlan Interest Reserve
is an old one that has never been corrected...
If you have found a Passat that you like, and you have come to a place where the
price works for you, then I would contact a National source for your warranty extension
that is outside of the state of Florida...Your Dealers hands are tied; he cannot
give you a great deal and violate Fla. State Insurance Laws to make it more
attractive to you...
Car_Man
Host
Smart Shoppers / FWI Message Boards
Residuals for July:
2002 2001.5
24-month
65-66% 63-65%
36 month
57-59% 53-55%
48 month
50-52% 46-48%
As far as the demand issue goes, its been my experience here that demand pretty closely EQUALS supply. While we do sell all of our Passats without too much trouble, there is no line of customers beating down our doors. Now, the warranty difference may cause something of a stir when the news hits the general public, but I'd imagine VW would anticipate that with a rise in production. We'll see.
Jason
Basically, if a customer wants to cancel a warranty then the dealer has to refund the MSRP of the warranty. It was oiginally designed to protect consumers from being hammered into a "Rule of 78s" warranty, and then only to find 3 days later when they went to cancel it that they could only get 70% (Or whatever) amount refunded.
I *_can_* discount a warranty, but if the customer ever goes to cancel it, I have to refund them the prorated list price of it. So if I sell one for a $300 discount, and the customer goes for a refund in, say, the first 30-90 days, I'm basically out $300.
A good law, that, unfortunately, now is hurting consumers >:| But Florida is full of ridiculous automobile sales laws. Ex: By the legal definition, I doubt that a single "new" car has been sold in the state yet. At one point that made financing them difficult to a small degree.
Oh, No fair ffxvw, you got them already
Bill
However, unless its' listed accurately (I remember when Edmunds had a $1,000 incentive listed on Jaguar XJ8s, XJ8Ls and Vanden Plas models. Correct, but only if you are a current Jaguar owner). Then it isn't doing anybody any good.
Bill
subvented rates...it does NOT apply to ALL VWs sold/leased
as I believe your post implied...*Special Rates* can come from
any lender...
Re your 2002s--where does that leave you on your 1.5s? How do you convince someone to take the one with the old warranty?
Why didn't VW just decide to do the new warranty on all cars sold from the date of the announcement? Weren't they kind of screwing the dealers with this decision while there are still 1.5s sitting on lots?
How about leasing me a 2002, since apparently the Florida dealers aren't expecting theirs for months and months;-)
As far as the price you were quoted for the warranty--I'm discovering that all dealers charge different amounts for the warranties. Mine quoted me $650 to extend it. That's not really a wash to me. And labor and parts are so expensive, that one repair out of warranty could cost quite a bit.
Jason
Also, my girlfriend has excellent credit, but very little income (graduate school). Would there be an advantage to co-signing on a loan? Is it even possible to do so as we are not married yet?
For instance, right now VW has 5.9% 60-month financing. Is it possible I could get this rate? Or that my girlfriend could alone, or with me as co-signer?
We're looking into buying a 2001.5 Passat Wagon (as base a model as I can find). Just curious what my best strategy should be. Thanks!--x
and *C* is 8.90%...In order to determine which you be, you
need to find the one you wnat to take home and make your
deal, and the Dealership will send it off to Volkswagen Credit
for approval at one level or the other...
The one piece of advise that I can give would be not to finance your girlfriends car. If she is that great, then marry her and then buy a car together. Otherwise, even with the best of intentions, you are setting yourself up for disapointment. Can you imagine if you marry someone else and the two of you don't qualify for the house that you want because you are still extended on the last girlfriends car loan? Yikes!
I think I'm going to purchase a 2001.5 GLS V6--the thought being that I should get a better deal on this model than a 2002. Using the price difference, I'd like to extend the b-to-b warranty an additional 2 years (up to the soon-to-be standard 4 year length). I figure this gets me 10 years of powertrain coverage, 4 years b-to-b, and 2 years free service for approximately the price of the 2002 (sadly, no in dash CD).
My questions: 1) Does this sound sound? 2) Approx. how much should an aftermarket warranty on a new Passat run? 3) Does Masterguard have a phone number, when I've looked the program up on the web I have found no pricing information.
Thanks in advance for any help!
Mike
Jason