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2015 Volkswagen Jetta Lease Quote, what seems odd here?

jbrumfield1jbrumfield1 Posts: 3
edited August 2015 in Volkswagen
Hello, I received two quotes today for two different VW models. I couldn't seem to get a straight answer as to what the final purchase price was. I'm also curious about the "Due at Signing" line, since taxes, DMV Fees, and Acquisition Fee were accounted for in the purchase price. Can you let me know if these fees all seem reasonable? What else could be included in the "Due at Signing"? There is supposedly only one rebate offered but it is listed in three different places. I spent months reading up on leases before I started shopping but was still confused!!




Answers

  • kyfdxkyfdx Posts: 128,423
    The first one looks like a "ZERO due at signing" lease.

    The $312 is the 1st payment plus the upfront tax due. That's why there is a $312 cash offset.. that amount is being added to the CAP cost. The rebate shows there, as well... because it has to be taxed (that's where the $67.50 upfront tax comes in).

    The selling price is $18,842
    + $312 (since $0 due at signing)
    + $625 acq.fee
    + $335 (document and registration)
    + $552 sales tax (tax collected upfront, is this Ohio?)
    = $20667.40 (Gross cap.. total of amounts above)
    - $1000 (rebate)
    = $19667.40 (net or adjusted CAP)

    .00010 MF and 53% residual for 36mo, 12K/yr
    Zero due at signing
    $245.22 for 35 more months.


    2nd deal appears similar, just on another model. Was that one from a different dealer? I ask, because the tax rate is different.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Yes, this is in Ohio. Same dealer, the first quote had the county incorrect which is why there are two different tax rates (I believe). The finance manager was trying to tell me that the purchase price was $17,842 because the rebate would get applied there. Which made no sense because it was applied elsewhere.

    Thank you for the help, one final question: Why is there an amount of $1312.72 listed under "Due at Signing"? He said that was taxes, title, fees, etc., but they're already rolled into the adjusted CAP?
  • kyfdxkyfdx Posts: 128,423

    Yes, this is in Ohio. Same dealer, the first quote had the county incorrect which is why there are two different tax rates (I believe). The finance manager was trying to tell me that the purchase price was $17,842 because the rebate would get applied there. Which made no sense because it was applied elsewhere.

    Thank you for the help, one final question: Why is there an amount of $1312.72 listed under "Due at Signing"? He said that was taxes, title, fees, etc., but they're already rolled into the adjusted CAP?

    I agree with him... The purchase price is $18842 minus the $1000 rebate.

    Lease printouts are confusing. The rebate has to be shown as an amount due at signing, so that it can be taxed. The 1st payment and upfront tax on the rebate are also shown as due at signing, so that they aren't double taxed, even though they are added into the CAP cost. (Since Ohio taxes the payments upfront).

    So, the $1312 is accounted for with the $1000 rebate and the $312 cash offset, so $0 due at signing.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Ok thank you for clarifying. So when negotiating purchase price, I should be trying to get the $18,842 number lowered correct? Is it reasonable to expect that number to reflect the fair market value in my area, and then have the rebate applied?
  • kyfdxkyfdx Posts: 128,423

    Ok thank you for clarifying. So when negotiating purchase price, I should be trying to get the $18,842 number lowered correct? Is it reasonable to expect that number to reflect the fair market value in my area, and then have the rebate applied?

    That's a fair assumption. But, I have to say, that's a pretty good quote for a Jetta.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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