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2013 and earlier Volkswagen GTI Lease Questions
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Car_man
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What are the June money factor and residual for a 4dr GTI for a 36 month/ 10,000 miles per year lease?
Thanks!!
Here's an example.
$25,000 sale price at 5% sales tax = $1,250.
Lease tax for the same vehicle, assuming a residual value of $15,000, would be
5% of $25,000 minus $15,000 or 5% of $10,000. That's $500 instead of $1,250!
You would not pay that up front. It would be paid in monthly increments.
For a 36 month lease you would pay 1/36 of $500 or $13.89 per month.
So, would you rather write a check for $1,250 or have $13.89 added to your monthly payment?
You're real close. Actually, Mass levies tax on the payment streams which means tax is assessed on both the monthly book depreciation as well as the monthly finance charge. To wit...
MassTax
which, in part, states...
"Each period for which a motor vehicle lease or rental payment is charged is considered a completed retail sale for the purpose of imposition, collection, and payment of sales tax. The sales price on which the tax is computed for each period is the total lease or rental charges for that period..."
So, if the monthly taxable (base) payment is $300, then your monthly lease payment, including tax, is...
$300 x 1.05 = $315 assuming a sales tax rate of 5%.
John
I just picked up my GTI after ogling this car for years, and I wanted to share my experience to hopefully help out other folks.
I shopped entirely online, sending a request for quote out to 19 dealerships in my area (I live in LA), and then going back and forth with the three or four that offered the best price. Here were the specifics we settled on:
2010 4-door GTI, DSG and Bluetooth, Carbon Steel Metallic
36-month, 10,000-mile lease
MSRP: $26,119
Selling price: $24,338 (Edmunds TMV is $24,415)
Drive-off: $1,399 (includes first month, $625 acquisition fee, and DMV/state fees)
Monthly: $339 including tax (this uses the correct MF and residual of 0.00064 and 54%, respectively. And LA county sales tax is a lofty 9.75%, btw)
For anyone in LA, I went to Livingston Volkswagen in Woodland hills, and I have no complaints - quick service and no surprises. They have very poor reviews on Yelp... not sure why, but I had a very good experience.
This is the third car I've bought entirely by email in 3 years (BMW Z4, Honda Fit, and now this), so I have a couple of observations I thought I'd share:
1) Every dealer will tell you there are very few examples of your chosen model in the region. This is almost always untrue. By quick Google search, I discovered there were 71 GTIs in LA, plus many more in surrounding cities.
2) Once they get beat on price, every dealer will tell you that all the other dealers you're talking to are lying SOBs that will change their stories and fleece you as soon as you walk into the dealership. I've simply never had this happen -- put everything in black and white on email and there's very little to be surprised about.
3) The internet department's prices are amazingly low compared to the prices you can get by walking in the front door. My lease payment is ~$40 per month lower than the best I got by walking into a few dealerships.
Car is great by the way. It's head and shoulders above my BMW in terms of interior niceness and how it drives. But, to go on a mini-rant, I think this obsession with soft-touch plastic dashboards is getting ridiculous - I would gladly have hard plastic on top of the dash (which I NEVER touch), and save a few hundred bucks on the purchase price.
Here is the deal I just got for my brother in law:
2010 2 door GTI with DSG tranz in United Grey Metalic
18" Detroit rims with summer tires
Sunroof
GTI mat kit
Bluetooth
MSRP: $27,629.00
Cap Cost: $25,813.00 = $349 BELOW Invoice
Factory Invoice (according to True Car: $26,162.00)
Leased for 36 months with 15K year.
MF was .00185 (My BIL is credit challenged) = 4.44% Interest
Put 2K down which broke down as follows:
Acq fee: $625
Doc fee: $55.00
Tire fee: $9.00
Registration fee: $388
1st payment: $432.00
Cap cost reduction: $450.00
Mo payment with Cali (LA county taxes) = $431.60
Got it from LIVINGSTON VW in Woodland Hills, CA from the Internet dept. Very professional and very easy to deal with. Highly recommended
And just like bds231 said:
The dealers will tell you limited supply, no one wants to trade, that price is not feasable, etc etc etc
IT'S ALL CRAP!!
Do your research, walk in with a price you are willing to pay. Either they accept the deal or you walk and go to the next store!
Good luck all and happy driving!!
Thank you for you help! The agreed upon value before tax etc. is $21,825 and gross cap cost is $23,496 since I did not pay anything at signing. Hope this helps!
Do you have the July rates? Money factors and residuals for a 4dr DSG?
I am looking at a 4dr DSG with a MSRP of $29,245. The negotiated price is $25,553.
10,000miles
36 months.
Quoted payment monthly of $320.30
Down $2,322.77
I feel the payment is a bit high with the current programs and money factors. Can you provide some assistance.
David
2010 2-door 6M
Carbon Steel Metallic
Sunroof
Bi-xenon headlights
Bluetooth
$24,023 negotiated price - almost $300 BELOW invoice
36 month lease, 12k/year
804.23 down including TTL, 377.42 monthly payment including tax
0.00022 MF, 51% residual
I got this from the Fleet Manager after a week and half of emailing every dealership in my area. This is the first time I got a quote for this car below invoice. Does VW have a hidden incentive on the GTI's for July? Or am I getting okie doked into going down to the dealership this saturday?
I'm on this forum because I test drove two GTIs and am toying with the idea of replacing my 2006 Mazda 3 (purchased last September) for a GTI. I have a 2008 Acura MDX and a 2006 BMW M Roadster, both purchased new, so the Mazda was to be a winter knock about car. I made the mistake of trying the GTI and getting hooked. I will probably wait for a 2011 and the improved fully functional Bluetooth.
Here's another request for July money factor and residual rates for a 12k/36m 4dr lease.
I think I'm getting some too-high numbers in the SF Bay area.
Thanks!
VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GTI 4 door with 10,000 miles per year are .00045 and 53%, respectively.
Car_man
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The money factor that you mentioned is slightly higher than the .00041 that VW Credit was running on this car last month, but even so this is a very attractive deal.
Car_man
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Volkswagen Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GTI 4dr with 10,000 miles per year are .00064 and 54%, respectively.
Car_man
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Car_man
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2010 2 door GTI with DSG in Candy White
18" Detroit rims with all season
Sunroof
GTI mat kit
Bluetooth (I thought this is standard)
I was quoted with a MSRP $27,498 and sale price $25,538 plus tax & license. I think this is basically at invoice. This is without any negotiation.
Since this is a 2010, how much better can I do to make this a great deal? $1000 more off?
I am thinking about leasing it too. What is the MF and residual for a 3 year 12K mile lease for a 2 door 2010 GTI? How about for 2011?
Thanks a lot in advance!
Can anyone provide the Money Factor and Residual for this car? Thanks.
Volkswagen Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2010 GTI 2 Door with 12,000 miles per year are .00022 and 51%, respectively for consumers who qualify for its top credit tier.
The numbers for an otherwise identical lease of a base 2011 GTI are .00148 and 58%.
Car_man
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Volkswagen Credit's August buy rate lease money factor and residual value for a 36 month lease of a 2010 Golf 2 Door with 12,000 miles per year are .00042 and 51%, respectively for consumers who qualify for its top credit tier.
When negotiating your deal on the Golf that you're interested in, make sure to take the $500 cash incentive that is currently available on leases of it into account.
Car_man
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Thanks for the info.
Do you know the September buy rate lease money factor and residual for a 36 month lease of a 2011 GTI 2 door with 12,000 miles per year? How about 4 door?
Are the money factor and residual still the same at 0.00022 and 51% for a 2010 GTI 2 door (12k miles/year)?
Thanks!
Volkswagen Credit's September buy rate lease money factor and residual value for a 36 month lease of a 2011 GTI 2-Door with 12,000 miles per year are .00023 and 50%, respectively.
The numbers for an otherwise identical lease of an '11 GTI 4-Door are .00046 and 49%.
Car_man
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The one I test drove was MSRP $26,210 I believe. VW national "sale" is showing for the base:
MSRP: 24,460
Residual: 14,546
downpay: 2,299
and payment of 279/month
So the residual is looking more than 50% according to their sale. What do you think would be an accurate price for the 26,210 msrp if I am using the previously mentioned .00023 MF for September 2010?
I would rather put no money down and just have the higher payment. I feel if i can get under 350/month (including taxes) with nothing down on a 36/12k lease. It would be a good deal. Any thoughts? (in NY)
2013 Optima SX
2013 Optima SX
Went to VW dealership here in Southern CA yesterday who had the 4 door GTI autobahn package with stick, the exact recipe I want sticker $30,075 discounted to 29500.
3 year 10K lease 2K drive off. After much back and forth and explaining how GTI is a limited /special car blah, blah, blah, and VW doesn't offer any incentives, offered car at $480 month including taxes. Seems way off to me?? Not so much interested in residual value ( it was around 16K ) because I dont keep my cars after the lease. I like the car but doesn't seem to a good value. I said no thanks, but still interested in the car.
Can you please advise. Thank you.
When I bought mine a few months ago (also in SoCal), many dealerships had a ton of GTIs and couldn't get rid of them all. I would recommend shopping around aggressively via email -- you can go to edmunds.com or a dozen other websites and send emails to 5 dealers at once with a request for quote.
Regarding the monthly, that does seem high, but we need to know the money factor (interest rate) and residual percentage (or exact residual value) to say for sure. The residual is actually extremely important to you because, as a lessor, you are basically paying the difference between the selling price and the residual (plus a finance charge). VW typically sets benchmark values for the money factor and residual; you just have to make sure your dealership is using the benchmark values, and then negotiate the lowest possible selling price for the car. Car_man can tell you what their benchmark values are right now (they change monthly).
I am still in the market for a GTI, it looks like I have to look for a 2011 now but it's strange that I don't see that many 2011 on the dealers' lots.
Anyway, do you know the October buy rate lease money factor and residual for a 36 month lease of a 2011 GTI 2 door with 12,000 miles per year?
How about 4 door?
Thanks!
It's also running a special 36- month lease money factor of .00122 on this car right now. That's equivalent to an interest rate of just under 3%.
Having said that, this car doesn't exactly have huge dealer margins. The model that you described probably has a spread of around $1,100 between its full MSRP and its dealer invoice price. That puts the selling price that you were quoted at around $500 over invoice, which is pretty good.
Let's use VW Credit's current lease program to work up a payment on this car and see what we come up with. According to my calculations, if you were to lease a 2011 GTI Autobahn that has an MSRP of $30,075 and a selling price of $29,500 through VW Credit right now for 36 months with 10,000 miles per year, your zero down, pre-tax monthly payment would be around $417.
This is before tax, but still it's quite a bit lower than the $480 that you were quoted. If I was interested in this car, I would want to know why. Make sure that the dealer is using the money factor that I mentioned earlier to calculate your payment.
Car_man
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The numbers for an otherwise identical lease of a 2011 GTI 4-Door are exactly the same.
Car_man
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Do you know the FICO score required for the VW GTI Tier One Lease? Is it 720? 700?
Thanks.
Car_man
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thanks,
Matt
Looking for the MF and Residual nums for a 2011, 4dr, 6spd manual w/sunroof.
36month, 15k miles. (NJ)
Was quoted .00122 and 54% in Oct. Are (were) these correct and have they changed for Nov?
Thanks in advance.
Car_man
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Car_man
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Thank you!
Car_man
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Can you please give me the Lease Rate and Residual Value for a 2011 GTI, 4-door, DSG, Autobahn package, 36 months, 15K/year?
Thanks in advance.
Don't forget that Volkswagen is waiving the first month's payment on leases this month.
Car_man
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On a whim I took a test drive in a GTI and was smitten. I was smiling for an hour after. Loved the sound, handling, red stitching, steering wheel. I don't love the looks but I do think it's kind of cool in a sort of counter culture way. Hearkens back to a simpler time when things weren't so complex, to my way of thinking. Anyway, some things I'm trying to sort out; It certainly isn't a premium car in terms of amenities and the doors and hatch felt a bit light to me. I felt I was driving an econo hatch but with stellar driving traits. I'm sure I could deal with that if it wasn't for the price. Let me explain. As a leasing customer, I 'm having a hard time justifying a payment of about 550 for the autobahn package or mid 4's for the sunroof (and no HIDs!). When I compare, I can get a 37x coupe with all bells and whistles for under 500 and thats a 45K car. I can get a 328 xi coupe nicely equipped for 550 per month (about the same as the autobahn GTI). (I've structured all the leases the same for an apples to apples comparison-Zero down, 15K miles, tax in payment,36 months (for VW it actually is only 35 mos. with their promotion)
If they leased at the same percent difference as the MSRP, it would be a no brainer.
It should lease at about 2/3 the price of the other cars but the others have huge incentives, more spread between invoice and msrp and better residuals and MF.
Also, I was surprised to learn that the GTI will cost a bit more to insure than the BMW or Infiniti. Not sure why? (kids race them? High rate of theft?)
VW is also an unknown to me regarding reliability. I have had outstanding experiences with both BMW and Infiniti.
Please let me know your thoughts or suggestions. Maybe I'm missing something.
As I said, it sure put a smile on my face.
Would love to hear your impressions of the Audi. Is it the same engine as the GTI?
Loved the sound and reving of the GTI engine note. Seats seemed to be better than the Audi A4 I sat in as well.
Thanks
Volkswagen Credit's November buy rate lease money factor and residual value for a 36 month lease of a base 2011 GTI with 10,000 miles per year are .00135 and 58%, respectively.
Don't forget that VW is waiving the first month's payment on leases of this car this month.
Car_man
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Going to try to trade a leased 2008 GLI 4 door early, 6 months pymts remain ~ $1,800, resid $15K, 50K miles, excellent condition - loaded.
Car_man
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I'd like to know the money factor and residual on a 2011 Volkswagen Golf 2-door 5-speed (base model MSRP is approximately $17,965), and get your opinion of and any suggestions that you might have regarding Volkswagen's current lease offer of $269 a month/36 months/36k miles.
Thank you.