2013 and earlier Volkswagen Passat Lease Questions

lastory

My 2003 Passat lease is up and I am negotiating for a new one. I'm looking at the 2.0T with Package #2 and 36-48 months, but I don't want to pay more than $600 total drive off. My current lease was $585 total drive off for 48 months and I'm paying $360 a month. What would be considered a good deal on a 2006? I'm in Los Angeles.

chartster2

Looking to lease this month. 3.6L w/ Lux. Pkg 2 & Nav. What would be MF & Residual on:

36 mos. @ 15k per year
48 mos. @ 12k per year?

Thanks!

canoura

I just signed a lease for the VW passat wagon in Illinois. Here are the details
Money factor:0.00146(VW bank).
Tax:6.5%
Residual:54%
Down payment:$140(licensing fees)
Final Purchase Price:$37,000.00
36 months, 15K miles
Monthly payment after 4 days of hagling: $589.00

Options: Navigation, 4motion, 3.6L V6, luxury package 2.

ionut

Hi,

I would like to do a 2 yr lease on a Passat 3.6L wagon 4motion and I was wondering if it's a good idea. What would the residual be in this situation ? How about monthly payments ? It's my first lease, btw . . .

mingb

automatic transmission. 24mo, 10k mi/yr.

MSRP 25830 + acq fee 575 = 26405.
gross cap cost (incl. acq fee) = 24475.
no money down.
MF 0.00057
RV 0.66
base monthly payment = 333.13
total monthly payment plus 6% tax = 353.13.
total due at signing (1st month +TTL) = 500

hope this helps people.

CarMan@Edmunds

Hi ridge2far. I'd probably pas on the excess wear and tear coverage if I was in your situation. Most manufacturers' captive finance companies are fairly lenient when evaluating the condition of leased vehicles at the end of their terms. $450 with a $100 deductible seems like a lot of money to pay considering you probably won't be charged a dime if your car is in decent condition at lease-end.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds

Congratulations on your new car, Brian. Thanks for taking the time to share the details of your lease with everyone. Enjoy!

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds

Wow, three straight posts with details of current leases for others to peruse. Thanks everyone. Keep 'em coming!

Car_man
Host
Smart Shopper / Prices Paid Forums

dianamal2

Hi. I am currently looking to lease the 2006 Passat 2.0T. I have never leased a car before, so all the information has been a little overwhelming. Can someone please help in explaining the Money Factor and Residual amounts that I have seen in other posts? Is this even a good time to be leasing from VW? The following are the numbers and information I was given by the salesman:

20,000 miles a yr w/ $3000 down
35 x 399 +tax = $424
47 x 376 +tax = $398.58

25,000 a yr w/$3000
35 x 435 +tax = $461
47 x 409 +tax = $433

Right now this is without my trade in being looked at. After reading the above postings though I don't understand why I am needing to put down so much money.

Any help or guidance would be greatly appreciated.

Diana

dianamal2

Sorry I forgot to add that the MSRP was listed at roughly $29,000. He just used the the most expensive package they had on the lot to show me what the payments would be. After reading all of the VW Passat postings and articles however I am not too sure this car is for me anymore. It seems, and I may be jumping to conclusions, that leasing is much more aggravating if you are not in fact getting a car that has a high residual in the end. I might as well finance a car that is under $27,000 rather than lease.???

I might be wrong....I have been reading too much today and am severely overwhelmed with car buying in general.

Thanks for any help that can be provided or possibly some alternative cars that might be a better deal.

fish8

What option(s) are included in the $29,000 price? It appears that they are using the MSRP price. Also, $3000 down is a good bit of money. It usually is not recommended to put down that much money. If you get into an accident and your car is totalled, you lose all the money you put down.

Good luck!!!!

atljazz

I am currently looking to replace my leased 2003 Passat with a new 3.6L. A dealer has a car similar to what I want, but.... it has 5400 miles on the odometer. One of the sales managers has been driving this car for 3 months. My question: How do I determine, negotiating wise, what the 5400 miles is worth - to me? I'm having a difficult time deciding what a good deal should be. Thank you.

zmnbyu

OK, pulled the trigger on the Passat today. Here are the details and number.

06 Passat 2.0t. Deep Black w/Beige interior. Pk2, Dynaudio, 17 in wheels, rear air bags, splash guards.

MSRP = $30,340
Paid = $27200
Acquistion = $575
Temp Plate = $10

Total paid = 27785
Residual = 54%
mf = .00057
payment = $384.06 with taxes. Taxes are about $25/month.

What do y'all think? Car is being brought in and I pick up tomorrow or Friday.

fish8

Sounds like a solid deal and a beautiful car. Though black is very hard to keep clean!!! But, when it is clean it is awesome!! Enjoy!

zmnbyu

Should the residual value be based on the price paid or the msrp? Thinking it should be msrp but unsure.

Thanks

Zoom

kyfdx

MSRP

zgr81

How are these #s
Passat 2006 Value Edition Automatic
MSRP $24655
36 months lease
36000 miles
$307/month
$850(first month + Fees)
All tax included
Thanks

yalehan

If I have to move to antother city in the middle of contract ie one year after signing a 36 month contract, how could I deal with the car?
Thanks!

psst_guy

TTL due at signing ($263)
VW pays for first month lease
12k mile / year
3 years
$242/month

I am really happy with the deal!

knr5

Appears to be too good to be true!:) Was there a trade in involved, or did you put any money down? Was the car new or a demonstrator? Would appreciate some details!

In any event, enjoy your car!

psst_guy

Sorry. I was too excited last night and typed incorrectly.

It was 0 down 342/month. Only paid $263 for tags, title etc. This was in Portland, Oregon area.

There was no trade-in.

neeyo

"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!"

Not really. Any why not, you may ask? Because of the $595 acquisition fee that you have to pay when you lease a car, but not when you purchase it. That basically eats up any interest "savings" you thought you had.

CarMan@Edmunds

Welcome Diana. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

Volkswagen has am attractive lease program on the car that you are interested in right now. I would be happy to give you my opinion on the deals that you were quoted, but you never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment.

For now, I can tell you that you definitely should not make a $3,000 down payment when leasing. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Passat would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds

That is a very good question, atljazz. The problem that I have with demo vehicles is that dealers usually are not willing to provide enough of an additional discount on them for me to personally justify purchasing what essentially is a low mileage used vehicle over a brand new one that has never been driven. Some will say that $0.10 to $0.15 per mile is a fair deduction for this mileage, but I personally would want a much larger discount than that. There's not really any right or wrong answer here, how much of an additional discount one needs varies from person to person. For me, it would be a big one.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds

Hello zgr81. You never mentioned the selling price of the car that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

Car_man
Host
Smart Shopper / Prices Paid Forums

CarMan@Edmunds

Hi yalehan. I am not sure if you are asking if you are allowed to move with your leased vehicle or are saying that you want to get out of it because you are moving to a city where you won't need it. Banks don't care if consumers move, as long as they notify them of their new address. You should be free to move anywhere within the continental U.S. with your leased vehicle. So moving won't be a problem as far as your lease goes...as long as you don't want to get out of your lease. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

Car_man
Host
Smart Shopper / Prices Paid Forums

yalehan

Passat 2006 Value Edition Automatic
MSRP $24655
36 months lease
30000 miles
$200/month
$0(first month + Fees)
All tax included

rreyes

Hi, I'm trying to get advice on what my best options are in a negative equity situation. I'm currently leasing an 04 Passat Wagon GLS. I'm 34 months into a 60 month lease. I have 39K on the vehicle, my payoff is roughly 21K and the blue book is $13,900. I obviously have to eat this somewhere, but am I better off going into another lease at this point, or am I just going to continue this cycle? Should I buy? Should I just ride out this lease?? Help!
Thank you.

fish8

If you roll the negative equity into another lease, that just makes you more upside down in the next lease. The best thing to do is finish out your current lease then BUY your next car and drive it until the wheels fall off.

lastory

Just got my new Passat. Here were the numbers:
2006 2.0T, Auto, Pkg #1, Dynaoaudio, 48 months, 12,000 miles. VW pull up program, they paid the last 4 payments on my 2003 Passat lease.

Agreed upon value 26811.17
Gross Cap Cost 27386.17
500 customer loyalty,
Adjusted cap caost 26886.17
Residual 14107.5
Rent charge 2341.33
$600 total drive off
$315 a month $340 with tax.
HOW DID I DO?

fish8

What is a rent charge? Also, explain the details of the "pull up" program?

kyfdx

The rent charge is the finance portion of the lease payment.. Equivalent to the interest portion of a car loan..

lastory

VW Currently has a pull up program for Beetle and Passat leasees. They will pay up to six remaining payments on your lease to get you into a new VW. There was one that covered Jetta leasees last month, I don't know if it's still going for the Jetta though.

fish8

Interesting. I know over 2 years ago VW had a similar program but would pay up to 12 months of payments. I have about 2 years left on my leased Passat, hopefully VW will offer a similar program then.

deejay2099

Car_man,
I am looking to lease a 2006 Passat 2.0T Automatic with the only option being splash guards. Dealer is quoting me a sale price of $100 over invoice - ($23,908 according to Edmunds), however he is adding a $500 advertising fee and that looks to be non-negotiable.
At any rate I am wanting to do either a 36 or 48 month lease with no money down and 1K miles per month. Can you provide me with the residual and money factor for both of these scenarios?
Your time and attention are very much appreciated.

tpro78

Car Man,

My dealer has given me this quote:

with 3,000 down, and 1,500 for the trade-in of my car (99 Taurus SE) I was quoted as 279.11 / mo. Is that good? Something tells me no.

Pete

fish8

That means you are putting $4500 down on a lease. That is allot of $$ on a leased vehicle. You will lose all that money if you ever total the car. Also, the only thing that money does for you is lowering your monthly payment. If you have $3000 and it doesn't affect you financially, then go for it. Though the payment still sounds high with that much money down. What was the selling price of the car?

whogotz

I am currently in a 03 Passat lease $395/month. (Impulse buy with little research done). I have 15 months left, already 12k over on my mileage.
Last time I switched from a Jetta into the Passat under the Lease Pull Ahead Program.
I was hoping that within a few months to receive another offer from VW for the same pull ahead program. All miles/payments were forgiven back then. Does VW still forgive mileage or just payments?
I may be able to get a dealer to eat everything owed on my 03 and put me an 06 for the same $395.
A good deal if I am stuck with mileage charges but I need to know if the Pull Ahead Program still forgives excess mileage.

lastory

I just took advantage of the pull ahead program on my 2003 Passat. Right now they will pay up to 6 months, but they did not cover excess miles.

whogotz

Are the terms of the Lease Pull Ahead Program posted on a website anywhere?

tpro78

28,500 was the selling price. The dealer is Joe Heidt Motors in Ramsey, NJ.

qbrozen

anybody know the details on the current special Passat lease offer?

does it ONLY apply to the value edition? or can the terms be applied to the 2.0T?

What are the terms? (MF and residual)
How about for 15k miles per year?
Can I opt for a manual tranny, and, if so, does that change the residual?

1210

I'm looking at a 2.O Package 1 with Cold Weather. Best deal so far is $370 a month for 36 months 15K miles yr. 0 down with just first months payment and motor vehicle fees. Is this a good deal?

deejay2099

Anyone seen Car_man? I left this post nearly three weeks ago, he is usually pretty good about answering these inquiries. Does anyone know of another resource to learn of lease rates and residual values?
Thanks.

bperks

Is this a good deal??

2006 3.6L with Luxury 2 Package
MSRP: $35,830
Adj. Cap Cost $33,676.02
Selling: $33,101.02 (Quoted $32,251 on the phone...researching)
Lease Factor: .00111
Residual $19,348.20 (54%)
Acq. Fee $575
License Fee $28
Title Fee $46
Doc Fee $367
Money down $0
36 Months $470 per month 12k a year

One question the dealer is telling me I need to pay $924.80 to start. Why? I have leased before and there was no payment until the following month.

fish8

There is no requirement to put money down on a lease. That $$ may be to cover fees and such. But it's not required.

bperks

Fish8, thanks. You are correct that higher sale price included the dealer fees.

radrob

Is this a good deal?
2006 passat 2.0t auto pkg#1 splash guards gorilla mats
$998 inception
48 months/10k miles
$285+tax month

amx

Hello,

Anyone know the current VW Lease MF and Residuals for a 3yr/15k mil lease on the Wagon? I cannot seem to find the data anywhere.. also I read somewhere that people are getting selling prices 1k? below invoice... how does that work?
thx

CarMan@Edmunds

Hi deejay2099. $600 over dealer invoice is a pretty reasonable price for this car, obviously $100 over is better . If you were to lease a 2006 Volkswagen Passat 2.0T through VW Credit right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00057 and 56%, respectively. The numbers for an otherwise identical 48 month lease should be .00119 and 50%.

Car_man
Host
Smart Shopper / Prices Paid Forums