Did I goof on my GTI lease?

stejenna

Just leased a 2016 GTI S 6-speed 12k/36
I have FICO of 699 Wife is 780
Spoke to internet sales manager offered Price of $25,275 and $1,000 off if I show registration of another brand vehicle.
I tried to negotiate a reduced Money Factor, the salesman claimed it could not be reduced since it is set by VW. I don't understand why the capitalized cost reduction is $786.45 Shouldn't the adjusted capitalized cost be cheaper ($26,199 - $1396.84). I put no money down and was told first months payment is paid. Did I get a good deal? Anything I can do next time around to negotiate a better deal?
s12.postimg.org/lrvhd686l/scan0002_Page_1.jpg

kyfdx

stejenna said:

Just leased a 2016 GTI S 6-speed 12k/36
I have FICO of 699 Wife is 780
Spoke to internet sales manager offered Price of $25,275 and $1,000 off if I show registration of another brand vehicle.
I tried to negotiate a reduced Money Factor, the salesman claimed it could not be reduced since it is set by VW. I don't understand why the capitalized cost reduction is $786.45 Shouldn't the adjusted capitalized cost be cheaper ($26,199 - $1396.84). I put no money down and was told first months payment is paid. Did I get a good deal? Anything I can do next time around to negotiate a better deal?
s12.postimg.org/lrvhd686l/scan0002_Page_1.jpg

It's right there on the contract, under "Itemization of amount due at signing". They show exactly where the $1396 goes.. $396 for first payment and $213.55 for various fees. That leaves $786.45 for CAP cost reduction.

stejenna

I see...thanks. Given our credit do you think the money factor was too high? I was under the impression that it was negotiable although the salesman and manager stated it was set by VW. After seeing the contract do you see any obvious fees that I could have negotiated?

kyfdx

stejenna said:

I see...thanks. Given our credit do you think the money factor was too high? I was under the impression that it was negotiable although the salesman and manager stated it was set by VW. After seeing the contract do you see any obvious fees that I could have negotiated?

Well.. I don't see the money factor disclosed on your contract, so I can't comment on it. Money factors are only negotiable if they are marked up from the base rate. Everything looks normal on the contract.