Ok this is my first time ever leasing and I'm trying to get a feel for the numbers. I first got a quote over the internet from this particular dealer for a 2.0T with package 1 and Nav. This was not at the lot but they said they could get it. MSRP 29240.00 Residual 16666.80 0 drive off MF .00184 15k miles/39 mo. 424/mo I came in again just to pick out a color when they showed me a 2.0T with package 2, NAV and wheels. This of course cost more than the car I originally wanted. However, after some haggling the sales manager pushed the price down close to invoice and we settled on a price of 28600 for the car. Here are the numbers they were throwing around. MSRP 30600 price 28600 residual 15300 350 drive off 15k/48 mo. 427/mo Can you explain why I end up paying more for the longer lease term with the lower price? I didn't get the MF on the second car but i don't expect it to change. I have excellent credit and should qualify for the lowest mf. Anyway I didn't sign anything but I almost did. Luckily it was closing time and the car was getting its pdi. This affords me a night to mull it over yet again. If anyone can figure this out for me, I'd greatly appreciate it. I'm just stumped...
First off, the MF for a 48 month lease jumps up to .00221, so that may be where it came from. But let me run the numbers:
$30600 * .50 = $15300
$28600 - $15300 = $13300
$13300 / 48 = $277.08/month
$28600 + $15300 x .00221 = $97.02 interest/month
$277.08 + 97.02 = $374.10 a month BEFORE taxes
I don't know, but they are way off from $427. Even if that $427 a month is after taxes (which I doubt), the $374 should only jump $20, maybe $30 depending on your state.
It should be arouund $400 after taxes on that lease...they're marking up something somewhere.
Thanks for the input. Here was the deal I signed on. 2.0T with package 2, Nav and wheels 28868 CAP COST 15307 RESIDUAL 424 per month payment-- that's with taxes 393 w/o taxes I had no drive off though. Overall I'm happy with my deal, but in retrospect I think they may have gone lower on the CAP. Spilled milk as they say.
My dealer lowered down the payment to $249, $999 total out of pocket includes tax, license, title, acquisition fee & 1st payment. No Security deposit. Do you think it is good enough? Is that still true right now that VW waives the first month's lease payment on 2006 Passats?
ok so i have been e-mailing lots of different car companies trying to get the best deal out there and figure out how this really works. so i told each of them what i was looking for: 2006 passat, 3.6L, green, beige leather, with luxury package #2, with 36 or 48 months, and 15,000 miles. well most of them said right now the 39 months is much better. and they came back with all different numbers. from $3,500 down to $800 down. and with $430 to $600 a month. can you help me out. what is the real price that i should be paying for a lease and is really better right now to get the 39 month lease? the msrp on vw's web site says: $35,815. hope you can help. thank you, allison
Lease on my '03 passat is coming up soon and I was hoping you had info on latest residuals and money factors for Passat 3.6L with AWD, 15k miles per year for both 36 and 39 month terms. Also, are you aware of any incentives for current VW leasees. Heard there is/was $1,000 in such incentives. Thanks in advance.
Hi Chris. Let's take a look at the lease program for the car that you are interested in. If you were to lease a 2006 Volkswagen Passat 3.6L Sedan with AWD through VW Credit right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00153 and 54%, respectively. This car's 39 month lease program is not nearly as attractive as its 36 month program. I am not aware of any cash incentives on the '06 Passat right now. Where did you hear about the $1,000?
Thanks for the info Carman. The money factors is reasonable given today's interest rates, but their residual is a little disappointing. I has hoping for 57% based upon earlier posts, go figure. I guess the AWD is driving it down a bit.
I heard about the $1,000 from two sources: one, a dealer vaguely referred to it in late December and two, I saw it in post #2868 on the "Volkswagen Passat: Prices Paid & Buying Experience" board.
P.S. - what's with the 4:00 am posting? Not that I'm complaining, mind you.
Would appreciate knowing the numbers for both 36/39 (whichever makes sense) and 48 months for a 2.0T for 12000/yr. Have a lease expiring next month. Thanks, Carman!
You're welcome, cstabile. Ahhh, I see that the community member who referenced the $1,000 in cash incentives was talking about owner loyalty cash in December. I remember that VW was offering $500 loyalty cash to current customers who finance or lease a new Passat through VW Credit, but I'm not sure about the other $500 that was mentioned. Perhaps it was some sort of direct mail offer. While it is possible that the $500 loyalty cash is still around in January, I haven't seen anything about it and was under the impression that it had expired.
As far as my post time goes...4:00 AM?!?! Please, 6:00 AM is bad enough :surprise: . I just changed my time zone setting.
Hey neat trick, Walt. I don't know how long it has been since I've been in the preferences section. It looks different than it did a decade ago. Thanks for the time zone tip.
Hello amitvisual. Through January 31st, VW Credit's buy rate lease money factor and residual value for a 36 month lease with 12,000 miles per year of a 2006 Passat 2.0T are .00101 and 57%, respectively. The numbers for an otherwise identical 48 month lease should be .00154 and 51%.
Thanks a lot! Really appreciate the prompt response!
As for the $1000 I had talked about in December, I got a phone call from VW in the 3rd week of December saying they had 2 separate $500 offers for returning VW customers, and we could get both of them, though one may have been connected to buying a 2005 model - didn't get clarification from them in time. My local dealer says $500 is still available for returning customers.
I'm looking at leasing an '06 2.0T with the following: Luxury #2, Nav system, 9VE Dynaudio, 17" wheels, 4x4 side airbags, 15k miles/year, 36 months $1000.00 cap reduction. They want to sell me the car for $29,905 and about $450.00 per month incl. taxes. Good or bad?? Thanks for help!
First time leasing a car and would like some help with the numbers. 2006 2.0T Pkg 1 15k/3 years MRSP $27,215 Sale Price $25,000 MF .00151 Acquisition Fee $575 Residual 55% 1500 down at signing, $347+tax / Month
Any suggestions for reducing costs ? Thanks Carman
It appears that the dealer is marking up the money factor on you. I am looking at leasing s similarly priced/equipped car for my wife in February. My local dealer is very open with me about the VW leasing program, and has given me a copy of the VW program that is in effect thru Feb. 28. The base money factor for the 2.0T is .00101 thru 2/28. Their markup is adding about $20 to your monthly payment, which is pure profit for the dealer.
Not sure what region of the country you are in, but in some markets, you may be able to do several hundred better on price. For example, I have a price quote out of the DC area (approx 200 mi. from my home) for a 27.7k car for 25k plus $100 dealer processing fee. Haven't mentioned leasing yet, and plan to solicit final offers for purchase from several large dealers in mid to late Feb. for best cap cost using standard VW lease program (e.g. no mark-up on the money).
If you can live with the car for 4 years, (and the idea of having a VW product for 10k beyond the expiration of the bumper to bumper warranty) the residual only goes down to 49% for 15k/48 mos, although the money factor is significantly higher at .00154. I have figured that keeping for 4 years in my case would lower the payment another $20 per month, and buy an additional year until I have to write a significant check to get into a new car. Just trying to balance the risk trade off with the notorious VW electrical problems.
Hi Car_man, Looking for your input on leasing a Passat 3.6L with Luxury Pkg #1. MSRP $33,330, sale price $30,656, 15,000 miles per year, zero down. What would be a reasonable monthly payment. Thanks
Looking at leasing a 2006 Passat 2.0t with Package #1 and Cold Weather Package. Dealership gave us the followng numbers...
MSRP $27,440 LEV% 58% TERM 36mo MF .00151 RESIDUAL VALUE $15,915.20 INITIAL CAP COST $26,700 ADJUSTED CAP COST $27,130.14 DOWN PAYMENT $500 PAYMENT $376.51 for first 18mos $408.51 for last 18mos
Can you please provide the latest residuals and money factors for Passat 3.6L with AWD, 15k miles per year for 36 months. Also, are you aware of any incentives for current VW leasees. Thanks.
I just ordered a brand new wagon from a dealer in california. $750 above invoice. The manager couldn't calculate an accurate lease price on the car I ordered because he said the numbers will change between now and the time the car arrives at the dealer. So with that in mind he crunched some numbers based on an in stock sedan lease with a wagon price tag. See how this sounds:
36 months/15,000 mile per year
MSRP: $ 41,530.00 Cap.Cost: $ 39,233.00 Cap Reduction: $ 8,584.54 Tax on Credit: $ 668.79 Bank Fee: $ 575.00 Total Cap: $ 39,808.00 Net Cap: $ 31,223.46 Residual: $ 22,426.20 Total Depreciation: $ 8,797 Money Factor: .00200 Down Payment: $10,000.00 C/D: 0.35 My credit score is 740. Monthly payment: $378.92
What do you think of these numbers? Should my payment be less?
Thank you all for your help! We just got a 2.0T sedan with just the rear airbags. Hard to find, but our local dealer got it from another dealer. The details:
MSRP:$25,940 (with $615 destination) Cap cost: 24,569 Drive off: $685 ($1185 - $500 VW customer bonus) 12k miles per year 36 months MF: .00101 Residual: 57% - 14785.80 Payment: $311.53 + tax (7.5%)
At these lease rates, its better to lease it and then buy it after 3 years, since you're paying only 2.5% interest for the first 3 years!
As you all probably know, VW is offering a 39-months lease on the Value Edition for $299/month with 0 downpaymant. It includes 12000 miles a year. I have never considered to lease a car before but now I'm hesitant. Is it a good deal in terms of pricing? Thanks in advance! If I convince myself in a week I might be driving a VW
Just leased a 2.0T on a 36 month term, 15k miles/year. 'am being offered excess wear & tear coverage thru SafeLease at a cost of $449 total with a $100 deductible. Has anyone bought this type of insurance ona leased vehicle & is it worth it? Thanks in advance for you opinion.
The lease program VW is offering is a 39 month lease, $299 a month, zero down. In trying to figure out the money factor from the ad's "details" it seems to me from my calculations that the residual they are offering is 58% and money factor as .00124. Can you confirm this for the 39 month program and compare it to the 36 month program (if available at all) from the posts it seems that .00101 and 57% is what the 36 month program's rates are. Is this correct? Thanks!
That current $299/mo sounds like a great deal, but can the MSRP be negotiated on a lease. I never really looked into leasing, but I've read that the Vehicle Price is negotiable. Yet, when I ask my dealer about it, he sounded firm on current deal that VW is running.
So the dealer gave me all these numbers: MSRP: 24,655 Vehicle price: 24,108.96 Acquis Fee: 575 Residual: 58% Money Factor: 0.00084
SALE PRICE: $22,571: 250 below invoice + destination charge.
I have a trade in that he will probably give me 3,000 for, but hopefully more. He claims that with that reduction my payments will come out at $241+tax (3.8%)
When I calculate it using this spreadsheet that I created (thanks to leaseguide.com), I came up with payments of $219.56+tax.
I've checked all the calculations and they seem right, but maybe I'm missing something.
Also, would it be better for me to buy considering the offer he gave me?
hi, thanks for responding. that was for the 39 months... same as the one from the VW website. No, they did not negtiate on the price at all for the lease. That is why I'm wondering if the offer from the factory is not negotiable. I was willing to pay that b/c I didn't know any better, but if I can get a better deal and save some $, then of course, I'd rather do that.
Sure, thanks as well. I am not completely sure on being able to negotiate the MSRP but I would think that you could, why would the factory care if the dealership is making less? I've always been told that when you go in to a dealership you negotiate the price of the car first, get them down to where you want, THEN you say you want to lease and you just come equipped with knowing what your money factor and residual should be. In addition at the bottom of the Passat lease ads it does say that the price maybe affected by dealer contribution, which means to me negotiating can be done!
Ah, I see. Well, I have 4 other dealers in the area. Maybe I won't be so quick to tell them what I want. I did write him back and apologized for the misunderstanding. I mentioned that what I calculated wasn't what he quoted and if never wanted to see me again that was ok, but I did thank him for being so forthcoming throughout. If I had the money to buy, I would definitely buy from him.
I just sold an 02 Passat wagon - lease ended in Jan. I tried twice to negotiate the buyout price, but they wouldn't budge. I sold two leased Volvos before, and they always took 1000-1500 off the residual.
But I still made some money on selling it on my own, and didn't have to pay the "turn-in" fee of $350, and got my deposit back.
A is the ideal scenario, he still makes money and I feel like I got a great deal. B is just to show him that with my trade I was suppose to get $219 not the $241 he initially calculated. C is the deal as is from the manufacturer.
He comes back with two offers, but the second one ended up costing me like $5 more even though the payments were lower... required down payment.
1) Stock Number: 67126 15) Initial Cap Cost: $ 23,183.00 Quote Number: 47811 16) Total Insurance: 2) Contract Date: 02/09/06 17) Total Add Cap Costs: $ 974.50 3) First Payment Date: 03/11/06 18) Cash Cap Reduction: 4) Lease Institution: VCI 19) Total Trade Allow: $ 3,150.00 5) M.S.R.P.: $ 24,934.00 Adjusted Cap Cost: $ 21,007.50 6) Add to MSRP: 7) Mileage Penalty: Base Monthly Rental: $ 197.63 8) L.E.V.%: 58.00% 20) Security Deposit: 9) Lease-end Value: $ 14,461.72 21) Total Annual Fees: 10) Term: 39 22) Total Initial Fees: 11) Money Fact Sell Rate: 0.00084 12) Customer Cash Down: 23) CapTax1 Rt/Amt: .0000% 13) Credit Life/A&H Code: NO 24) CapTax2 Rt/Amt: 25) Amount Due At Start: $ 197.63 14) Tot CL On Mthly Pay: 26) Total Monthly Payment: $ 197.63
It looks really good, but then I remember that the VW deal had the 1st month free. So now what do I do? I'm starting to look at other vehicles now, Pontiac Vibe. I get a considerable discount and they offered to give me $6010 for my trade... and they haven't even looked at it yet.
Hi Car_man, Just leased a 2.0T on a 36 month term, 15k miles/year. 'am being offered excess wear & tear coverage thru SafeLease at a cost of $449 total with a $100 deductible. Is it worth it? Thanks in advance for you opinion.
I made what I consider to be an extremely good deal on a Passat lease today with King VW in Gaithersburg, MD, approx 20 mi. north of D.C. I negotiated on price without mentioning that I wanted to lease, then when we had a selling price nailed down, I told him what the lease payments should be based on the National Program published by VW credit. Ultimately, they agreed with the base money factor. They say it is $700 below invoice, plus a $99 processing fee, which is a pretty standard fee in MD. Their "invoice" is several hundred more than Edmunds information, but is consistent with the listed invoice pricing at Fitzmall.com. May be marketing fees or something like that. Ultimately, I think the deal beats even the best deals offered at Fitzmall.com by several hundred. I will pick up on Friday, and will post to let everyone know how the final details work out. I am about 200 miles away, and they are going to overnight the paperwork to me so my wife can sign without making the trip. Even more importantly, I will have the final papers in hand so I can't be held hostage to new/added terms after making a long trip. I have no reason to believe that would happen with this dealership - they have been great throughout, even honoring my request to do everything by email. So having said this, here are the details:
MSRP: $28,415 2.0T Arctic Blue Silver, Package #2 w/ Black interior
Invoice: $26,651 (per the info they provided) Less: $700 Plus: $99 processing fee Selling Price: $26,050
Using Standard VW lease program: 48 months/15k miles:
In addition, I do NOT qualify for the $500 VW Loyalty.
Base Monthly lease payment: $314.20 Lease Payment including 9% PA lease tax: $342.48
Total Due at Delivery: $1390.98 ($595 Acq. fee, $350 security Deposit, $342.48 first month payment and $103.50 tags (including 60 day MD temp tag))
Asked them if they wanted me to publicize the numbers, and they said sure. As such, it sounds like they would do it again. Current program ends 2/28. I did this deal through the Internet Manager. January sales numbers for Passat seemed to be fairly strong, so there is a decent chance, in my opinion, that the March lease program may not be as favorable.
At this point, I can't say enough good things about the dealer. If you contact them, tell them where you got the info. Sorry for being so long winded, but hopefully those who stuck with the post found the information useful.
Just closed a deal on my 3.6L 4-Motion Passat. MSRP of $40,509. Agreed selling price was $36,500 plus $229 processing fee plus tax and tags. Residual was 54% for 36 months at 15,000 miles per year. Money factor was 0.00153 for the 36 months. Hope this helps.
Just signed under the sign and drive deal on the value edition passats. MSRP of 24,655, agreed selling price was 22,216 (they would have gone to 21,702 if purchasing). Residual was 58% for 39 months with 12,000 miles per year. Money factor was .00084. Payments with tax at 7.75% and acquisition fee of 575 worked into the lease agreement (they are not waiving completely just not requiring it to be paid to drive off and are working into lease) plus DMV/doc of around $300 came out to be $274 a month. Pretty good deal, but it ends tomorrow.
Hi ridge2far. According to my calculations, if you were to lease a 2006 Volkswagen Passat 3.6L 2WD Sedan with an MSRP of $33,330 and a selling price of $30,656 through VW Credit right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $435.
Greetings allinschenk. The car that you described has a spread of just over $2,000 between its full MSRP and dealer invoice price. You are only being given a discount of $740 on it though. If you are in an area where there is a decent level of competition, I would not be surprised if you were able to do a little better than this. You may want to stop by the following discussion to see if any other community members have been able to get better deals on this car recently: "Volkswagen Passat: Prices Paid & Buying Experience".
Also, the lease money factor that you were quoted for this car is too high. VW Credit;s current buy rate lease money factor for a 36 month lease of a 2006 Passat 2.0T 9not the Value Edition) is only .00101. There is a good chance that the dealer you are working with is marking up your car's money factor to add additional hidden back-end profit to your deal. Make sure to insist that the buy rate factor is used to calculate your car's lease payment.
Hi malichs. This vehicle's lease program will vary depending upon how long you want to lease it for and how many miles per year you need to be able to drive it. For now, I will assume that you are interested in the most common terms, a 36 month lease with 15,000 miles per year. Let me know if you want something different. According to the latest information that I have seen, if you were to lease a 2007 Volkswagen Passat Wagon 3.6L 4Motion through VW Credit right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00087 and 54%, respectively.
Thanks Car_man. I ended up leasing a 2.0T (not the value edition) for 36 months @ $299/mo, 15k/year, $1100 drive off, 54% residual. What are your thoughts on buying excess wear & tear insurance for $449 total cost, is it worth it. Thanks.
Comments
MSRP is $27215, and invoice is $25525 or somewhere around there.
My dealer quoted me around #350 for 39 months with 12K I think, so they're close...
MSRP 29240.00
Residual 16666.80
0 drive off
MF .00184
15k miles/39 mo.
424/mo
I came in again just to pick out a color when they showed me a 2.0T with package 2, NAV and wheels. This of course cost more than the car I originally wanted. However, after some haggling the sales manager pushed the price down close to invoice and we settled on a price of 28600 for the car. Here are the numbers they were throwing around.
MSRP 30600
price 28600
residual 15300
350 drive off
15k/48 mo.
427/mo
Can you explain why I end up paying more for the longer lease term with the lower price? I didn't get the MF on the second car but i don't expect it to change. I have excellent credit and should qualify for the lowest mf. Anyway I didn't sign anything but I almost did. Luckily it was closing time and the car was getting its pdi. This affords me a night to mull it over yet again. If anyone can figure this out for me, I'd greatly appreciate it. I'm just stumped...
$30600 * .50 = $15300
$28600 - $15300 = $13300
$13300 / 48 = $277.08/month
$28600 + $15300 x .00221 = $97.02 interest/month
$277.08 + 97.02 = $374.10 a month BEFORE taxes
I don't know, but they are way off from $427. Even if that $427 a month is after taxes (which I doubt), the $374 should only jump $20, maybe $30 depending on your state.
It should be arouund $400 after taxes on that lease...they're marking up something somewhere.
HTH
Here was the deal I signed on.
2.0T with package 2, Nav and wheels
28868 CAP COST
15307 RESIDUAL
424 per month payment-- that's with taxes 393 w/o taxes
I had no drive off though.
Overall I'm happy with my deal, but in retrospect I think they may have gone lower on the CAP. Spilled milk as they say.
My dealer lowered down the payment to $249, $999 total out of pocket includes tax, license, title, acquisition fee & 1st payment. No Security deposit. Do you think it is good enough? Is that still true right now that VW waives the first month's lease payment on 2006 Passats?
Thanks,
Bin
thank you,
allison
Lease on my '03 passat is coming up soon and I was hoping you had info on latest residuals and money factors for Passat 3.6L with AWD, 15k miles per year for both 36 and 39 month terms. Also, are you aware of any incentives for current VW leasees. Heard there is/was $1,000 in such incentives. Thanks in advance.
Chris
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I heard about the $1,000 from two sources: one, a dealer vaguely referred to it in late December and two, I saw it in post #2868 on the "Volkswagen Passat: Prices Paid & Buying Experience" board.
P.S. - what's with the 4:00 am posting? Not that I'm complaining, mind you.
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Thanks, Carman!
As far as my post time goes...4:00 AM?!?! Please, 6:00 AM is bad enough :surprise: . I just changed my time zone setting.
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I feel like I got a great deal, but don't know for sure. I was hoping some could give me a comparative offer.
I got the VW Passat Value Edition base model.
I am paying $294 a month for 39 months or 38 months if you consider the fact that they waived the first payment.
I put no money down at all, and tax and title are already factored into my price.
I decided not to pay the upcharge for GAP insurance.
As for the $1000 I had talked about in December, I got a phone call from VW in the 3rd week of December saying they had 2 separate $500 offers for returning VW customers, and we could get both of them, though one may have been connected to buying a 2005 model - didn't get clarification from them in time. My local dealer says $500 is still available for returning customers.
I'm looking at leasing an '06 2.0T with the following:
Luxury #2, Nav system, 9VE Dynaudio, 17" wheels, 4x4 side airbags, 15k miles/year, 36 months $1000.00 cap reduction. They want to sell me the car for $29,905 and about $450.00 per month incl. taxes. Good or bad?? Thanks for help!
First time leasing a car and would like some help with the numbers.
2006 2.0T Pkg 1 15k/3 years
MRSP $27,215
Sale Price $25,000
MF .00151
Acquisition Fee $575
Residual 55%
1500 down at signing, $347+tax / Month
Any suggestions for reducing costs ?
Thanks Carman
It appears that the dealer is marking up the money factor on you. I am looking at leasing s similarly priced/equipped car for my wife in February. My local dealer is very open with me about the VW leasing program, and has given me a copy of the VW program that is in effect thru Feb. 28. The base money factor for the 2.0T is .00101 thru 2/28. Their markup is adding about $20 to your monthly payment, which is pure profit for the dealer.
Not sure what region of the country you are in, but in some markets, you may be able to do several hundred better on price. For example, I have a price quote out of the DC area (approx 200 mi. from my home) for a 27.7k car for 25k plus $100 dealer processing fee. Haven't mentioned leasing yet, and plan to solicit final offers for purchase from several large dealers in mid to late Feb. for best cap cost using standard VW lease program (e.g. no mark-up on the money).
If you can live with the car for 4 years, (and the idea of having a VW product for 10k beyond the expiration of the bumper to bumper warranty) the residual only goes down to 49% for 15k/48 mos, although the money factor is significantly higher at .00154. I have figured that keeping for 4 years in my case would lower the payment another $20 per month, and buy an additional year until I have to write a significant check to get into a new car. Just trying to balance the risk trade off with the notorious VW electrical problems.
Hope this helps, and good luck.
Brian
Looking for your input on leasing a Passat 3.6L with Luxury Pkg #1. MSRP $33,330, sale price $30,656, 15,000 miles per year, zero down. What would be a reasonable monthly payment. Thanks
MSRP $27,440
LEV% 58%
TERM 36mo
MF .00151
RESIDUAL VALUE $15,915.20
INITIAL CAP COST $26,700
ADJUSTED CAP COST $27,130.14
DOWN PAYMENT $500
PAYMENT $376.51 for first 18mos
$408.51 for last 18mos
Not feeling the love here, what do you think??
I'm wondering what current money factor and residual are for the 2007 Passat AWD. Thanks...
MSRP $28,430
LEV% 57%
TERM 36mo
MF .00101
NET CAP COST $26,636
DUE AT INCEPTION $573
Monthly Payment w/ tax: $370.54
Any thoughts?
Can you please provide the latest residuals and money factors for Passat 3.6L with AWD, 15k miles per year for 36 months. Also, are you aware of any incentives for current VW leasees. Thanks.
Chris
36 months/15,000 mile per year
MSRP: $ 41,530.00
Cap.Cost: $ 39,233.00
Cap Reduction: $ 8,584.54
Tax on Credit: $ 668.79
Bank Fee: $ 575.00
Total Cap: $ 39,808.00
Net Cap: $ 31,223.46
Residual: $ 22,426.20
Total Depreciation: $ 8,797
Money Factor: .00200
Down Payment: $10,000.00
C/D: 0.35
My credit score is 740.
Monthly payment: $378.92
What do you think of these numbers? Should my payment be less?
MSRP:$25,940 (with $615 destination)
Cap cost: 24,569
Drive off: $685 ($1185 - $500 VW customer bonus)
12k miles per year
36 months
MF: .00101
Residual: 57% - 14785.80
Payment: $311.53 + tax (7.5%)
At these lease rates, its better to lease it and then buy it after 3 years, since you're paying only 2.5% interest for the first 3 years!
I have never considered to lease a car before but now I'm hesitant. Is it a good deal in terms of pricing?
Thanks in advance!
If I convince myself in a week I might be driving a VW
Thanks in advance for you opinion.
The lease program VW is offering is a 39 month lease, $299 a month, zero down. In trying to figure out the money factor from the ad's "details" it seems to me from my calculations that the residual they are offering is 58% and money factor as .00124. Can you confirm this for the 39 month program and compare it to the 36 month program (if available at all) from the posts it seems that .00101 and 57% is what the 36 month program's rates are. Is this correct? Thanks!
So the dealer gave me all these numbers:
MSRP: 24,655
Vehicle price: 24,108.96
Acquis Fee: 575
Residual: 58%
Money Factor: 0.00084
SALE PRICE:
$22,571: 250 below invoice + destination charge.
I have a trade in that he will probably give me 3,000 for, but hopefully more. He claims that with that reduction my payments will come out at $241+tax (3.8%)
When I calculate it using this spreadsheet that I created (thanks to leaseguide.com), I came up with payments of $219.56+tax.
I've checked all the calculations and they seem right, but maybe I'm missing something.
Also, would it be better for me to buy considering the offer he gave me?
cheers,
Day
thanks for responding. that was for the 39 months... same as the one from the VW website. No, they did not negtiate on the price at all for the lease. That is why I'm wondering if the offer from the factory is not negotiable. I was willing to pay that b/c I didn't know any better, but if I can get a better deal and save some $, then of course, I'd rather do that.
But I still made some money on selling it on my own, and didn't have to pay the "turn-in" fee of $350, and got my deposit back.
Lease Deals
A is the ideal scenario, he still makes money and I feel like I got a great deal. B is just to show him that with my trade I was suppose to get $219 not the $241 he initially calculated. C is the deal as is from the manufacturer.
He comes back with two offers, but the second one ended up costing me like $5 more even though the payments were lower... required down payment.
1) Stock Number: 67126 15) Initial Cap Cost: $ 23,183.00
Quote Number: 47811 16) Total Insurance:
2) Contract Date: 02/09/06 17) Total Add Cap Costs: $ 974.50
3) First Payment Date: 03/11/06 18) Cash Cap Reduction:
4) Lease Institution: VCI 19) Total Trade Allow: $ 3,150.00
5) M.S.R.P.: $ 24,934.00 Adjusted Cap Cost: $ 21,007.50
6) Add to MSRP:
7) Mileage Penalty: Base Monthly Rental: $ 197.63
8) L.E.V.%: 58.00% 20) Security Deposit:
9) Lease-end Value: $ 14,461.72 21) Total Annual Fees:
10) Term: 39 22) Total Initial Fees:
11) Money Fact Sell Rate: 0.00084
12) Customer Cash Down: 23) CapTax1 Rt/Amt: .0000%
13) Credit Life/A&H Code: NO 24) CapTax2 Rt/Amt:
25) Amount Due At Start: $ 197.63
14) Tot CL On Mthly Pay: 26) Total Monthly Payment: $ 197.63
It looks really good, but then I remember that the VW deal had the 1st month free. So now what do I do? I'm starting to look at other vehicles now, Pontiac Vibe. I get a considerable discount and they offered to give me $6010 for my trade... and they haven't even looked at it yet.
Just leased a 2.0T on a 36 month term, 15k miles/year. 'am being offered excess wear & tear coverage thru SafeLease at a cost of $449 total with a $100 deductible. Is it worth it?
Thanks in advance for you opinion.
MSRP: $28,415 2.0T Arctic Blue Silver, Package #2 w/ Black interior
Invoice: $26,651 (per the info they provided)
Less: $700
Plus: $99 processing fee
Selling Price: $26,050
Using Standard VW lease program: 48 months/15k miles:
Gross Cap: $26050
Residual: $13923.35 (49%)
Money Factor: .00154
$0 Cap cost reduction
In addition, I do NOT qualify for the $500 VW Loyalty.
Base Monthly lease payment: $314.20
Lease Payment including 9% PA lease tax: $342.48
Total Due at Delivery: $1390.98 ($595 Acq.
fee, $350 security Deposit, $342.48 first month
payment and $103.50 tags (including 60 day MD temp tag))
Asked them if they wanted me to publicize the numbers, and they said sure. As such, it sounds like they would do it again. Current program ends 2/28. I did this deal through the Internet Manager. January sales numbers for Passat seemed to be fairly strong, so there is a decent chance, in my opinion, that the March lease program may not be as favorable.
At this point, I can't say enough good things about the dealer. If you contact them, tell them where you got the info. Sorry for being so long winded, but hopefully those who stuck with the post found the information useful.
Brian
Car_man
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Also, the lease money factor that you were quoted for this car is too high. VW Credit;s current buy rate lease money factor for a 36 month lease of a 2006 Passat 2.0T 9not the Value Edition) is only .00101. There is a good chance that the dealer you are working with is marking up your car's money factor to add additional hidden back-end profit to your deal. Make sure to insist that the buy rate factor is used to calculate your car's lease payment.
Car_man
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Car_man
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What are your thoughts on buying excess wear & tear insurance for $449 total cost, is it worth it.
Thanks.