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2013 and earlier Volkswagen Passat Lease Questions
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I'm turning the Passat into Jim Ellis VW on Highway 41 (Cobb Parkway) in Marietta, GA. VW actually gave me the option of returning it there or at Gosset in Alpharetta. Although we've moved to East Cobb, and Alpharetta is no longer that far away, I know where Jim Ellis is, so I picked that one as I am more familiar with it.
I'll let you know if any shenanigans occur during the actual drop off. Thanks!
Do you already know the money factor for the Passat 2007? What about the money factor for Passat 2006 in October? Is it better than 0.0099 already and 51% residual?
I'm new to the world of leasing and I'm interested in a 2006 Passat 2.0T with Automatic Transmission - Pkg #1, Navigation, upgraded wheels, and tiptronic (required with Nav). Still debating about the 36 or 42 month lease. I'm visiting the VW dealer on Saturday.
I found this lease deal on the VW website. What does it mean when they say "Requires dealer contribution of $1,088.66, which could affect final negotiated transaction".
2006 Passat 2.0T Value Edition with Automatic Transmission
42-month lease
$2,354 due at signing
(excluding taxes, title, options, and dealer charges)
Or, see your local VW dealer for one of the many other great lease deals available on Passat sedans.
**US cars only. $279 first month's payment, $1,500 down payment and $575 acquisition fee due at lease inception. Monthly payments total $11,718. Based on MSRP of $24,655 for a 2006 Passat 2.0T Value Edition Sedan with 6-speed automatic transmission, excluding title, taxes, options and dealer charges. Closed-end lease offered to highest qualified customers by Volkswagen Credit through participating dealers. Supplies limited. Offer ends October 31, 2006. Requires dealer contribution of $1,088.66, which could affect final negotiated transaction. Lessee responsible for insurance. At lease end lessees responsible for $0.15/mile over 42,000 miles and for damage and excessive wear. Additional charges may apply at lease end. Purchase option at lease end for $12,327.50. Dealer sets actual prices. See your Volkswagen dealer for details.
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The selling prices of leased vehicles are negotiable. The statement that you posted, "Requires dealer contribution of $1,088.66, which could affect final negotiated transaction," means that you have to be given a discount of $1,088.66 on this car in order to arrive at its advertised lease paymnet. This car actually has a spread of around $1,800 between its full MSRP and dealer invoice price. This late in the model year, you probably can negotiate a larger discount than the one that was used to arrive at this advertised payment. The larger the discount you negotiate is, the lower this car's payment will be.
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good luck
Thanks
Is it possible to trade-up to th enew one in the middle of the lease, or would it be a bad idea financially.
The new one is only about $2K more than I originally paid for mine.
Any advice/tips before I speak with dealer?
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2.0T Passat Wagon w/Sport Package
MSRP 32,605
Sell 30,740
$354-39months
w/$3,500 down. 12k miles per yr
Any information will be appreciated.
Thank you
I receive invoice pricing on VWs through my work. I'd like to lease a 2007 Passat 2.0T w/ option1. Dealer tells me invoice is 25K and change.
Quoted me $380 per month. Zero down. I pay all fees and taxes (a lot in Chicago!).
Now, we have the dreaded 'use tax' in Chicago which is 6.5% so I was advised some type of balloon lease to avoid this.
OK--but dealer deals me VW financing is 6.19% (?!)
Based on other postings $380 per month on this vehicle for a strong partner of VW/Audi seems way too high.
Thoughts? Should I go for a 2006? I don't care much about model year.
Thanks in advance -- lots of super data points on this forum.
The problem that I have with this deal is the large down payment that you are making. It is in the best interest of consumers who lease not to make any sort of down payment. People who make large down payments on leases risk losing them if their vehicle is totaled in an accident or stolen and never recovered. Let's work up a zero down lease payment on this vehicle and see what we come up with. According to my calculations, if you were to lease a 2007 Volkswagen Passat 2.0T Wagon with an MSRP of $32,605 and a selling price of $30,740 through VW Credit right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $390. Shoot for that sort of payment.
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If I was in the market for a Passat right now and didn't care what model year I got, I personally would strongly consider financing a 2006 model through Volkswagen Credit. VW is currently offering 0% financing for up to 5 years on '06 Passats. This is a very aggressive offer for them.
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2007 Passat Wagon - Base model
MSRP 25,855
Sell 24,233
Money Factor: 0.00126
Residual Value: 56%
Sales Tax - 7% (NJ)
$249 - 39 months
w/$4,000 down. 10k miles per yr
Any information will be appreciated.
Thank you.
2007 Passat Sedan - Base Model w/ automatic transmission
MSRP - $24,665
Sales Price - Dealer indicating $200 above invoice
Down Payment - $1,000
Monthly Payment - $380
15k Miles per year
I do not know the residual value, however, dealer indicated quote is based on top tier credit. I would appreciate any help that you can offer.
Included
Luxury Package #1
DVD Navigation
Bi-Xenon
Purchase : $35663
Residual : 51%
Money Factor : .00181
No money down
36 Months, 15k/year
$543.74 w/tax
I'm worried that the Residual and Money Factor are high, but other people are quoting for lower models, not for the more expensive model which would depreciate more. I guess.
My 6 month old leased Passat was involved in an accident and is being repaired at an authorized shop with OEM parts.
Will I be liable to pay a penalty at the end of the lease since the car's title will likely say it was involved in an accident?
Any suggestions?
2007 Passat 2.0 with Package 1 and splashguards
MSRP: $27,680
INTERNET PRICE: $25,551 ($300 below invoice according to the dealer)
TERM: 39 months
MILES: 12k/year
RESIDUAL: $15,180
No downpayment or cap reduction. Total cost out of pocket is $1,213 for tax, title, destination fee.
MONTHLY PAYMENT: $343 ($371 including tax)
Thanks so much for your help.
From reading some posts, there seems to be some great lease deals out there. I recently went to one of my local dealers, looked at a few & tested a 2.0T that was very well equipped (Pack 2 Sport, DVD Navi w/glove box mounted six disc changer & Dynaudio). I was very impressed w/the car! It stickered out @ approx $34k. Dealer says they can sell for approx $31k. I asked for the residual value & was told it is @ 53% (39 mo lease term / 15k miles). I am not sure if that is good, bad or average. Salesman did not know the current money factor. I have seen some great money factors in some posts & hope that VW Credit still offers a good factor.
Are there any additional incentives/rebates available to lower the selling price (sp)/cap cost? I would like to make a down payment of $0.00 as I do not see the sense of placing a downpayment on something that I am more than likely going to turn in @ the end of the lease. Odds are that I would never recoup that money.
So my questions are...
1. Is the 53% residual value for a lease of 39 mos - 15k/yr good, bad or average? Can that % be negotiated higher?
2. What is the current money factor through VW Credit?
3. Is the sp/cap cost for the Passat (equipped as listed above) good, bad or average? I think I know the answer to that one - I feel that it can be a lot better!
4. Are there any additional incentives/rebates available that will help reduce the sp/cap cost?
5. After all is said & done, where should I expect the monthly payment to fall for a Passat equipped like this one?
Thanks in advance for the info & guidance.
I see that you are considering making a $4,000 down payment on your lease. I personally always advise consumers against making down payments on leased vehicles. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered.
Now let's take a look at this vehicle's selling price. A base 2007 Passat Wagon 2.0T has a spread of around $2,000 between its full MSRP and its dealer invoice price. You were quoted a discount of $1,622 on the specific model that you are interested in. This looks like a pretty good price to me. Make sure to stop by the following discussion to see how much other community members have paid for similar vehicles lately: "Volkswagen Passat: Prices Paid & Buying Experience".
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I would be happy to give you an idea of how much the new Passat that you are interested in will cost to lease if you tell me exactly what model you want, what its full MSRP is, what its approximate selling price is, how long you want to lease it for, and how many miles per year you need to be able to drive it.
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Vehicle #1
'07 Passat 2.0T Sport Pack 2 w/Dynaudio & Nav (brand new)
- Lease x 39 mos 15k mi/yr
- Price $468/mo
- $0 down
Vehicle #2
'07 Passat 2.0T Sport Pack 2 w/Nav
(This car was a demo - one of the managers put approx 3200 miles on it. They tell me that since THEY have to pay for the miles that the car already has, MY payment would increase by $21/mo. This makes absolutely no sense to me. It appears that they are rolling that into the payment so I pay for the miles.)
- Lease x 39 mos 15k mi/yr
- Price $489/mo
- $0 down
These quotes do not include tax so final payment will be $500. plus. I was thinking that I was going to have a payment closer to the one that you had posted ($418). I asked for the selling/lease price, residual % & money/lease factor to be included in the quote, however, it was "conveniently" left out. I got the feeling that the dealer was trying to pull one over & get an extra $50.-$100./mo.
I have not heard anything more from this dealer & have now moved on to try & work w/another VW dealer. I am hopeful that I can get something worked out soon. Not having done this for several years, I forgot how painful & exhausting :sick: it is to try & purchase a new car!
Thanks again for the info.
extremeaudi
2.0T 4cyl
w/ W32 Package #2 Luxury
Edmunds: MSRP $30,065; TMV: $28,817
I was quoted the following lease payment:
39 Months
$2500 down
375.53/month (includes all fees)
(.001720 money factor)
I understand the Passat does not have a good residual value. Can someone share their own lease payments. I'm trying to determine what a good lease payment would be.
thanks
I turned in my 03 Jetta and leased a 06 Passat and ever since then I have had nothing but problems. First the headliner needed to be removed because the satellite radio antenna was cracked when I purchased the vehicle. I could not see it..I think when they detailed the car it was damaged when it was washed since it's just cheap plastic. Afer that I was hearing some kind of crackling noise in my dashboard and I took it to the dealer and they said they did not hear it. In January there was a big snowstorm in Cleveland and on the highway my wipers would not go fast it was like they were on intermittent. Then they just seized up and stopped completely while I was in heavy traffic on the freeway. They stopped for a couple of seconds. I had to manually use the wipers as the other levels were not working. I took it to the dealer and they fixed it. Then of course after that I get the recall notice for the windhsield/wiper motor cover and brake line. I take it back to the dealer for them to fix the specific recall items. Yesterday there was a blizzard (in Cuyahoga County) and once again the wipers were working at first but when I got close to home (lucky for me) they stopped working again. How many times can something go wrong with a car?
Recall Article http://www.autoblog.com/2006/12/08/vw-recalling-recent-passats-in-the-us/
Volkswagen announced today that it is issuing two safety recalls for some 2006 and 2007 model year Passat sedans and some 2007 Passat wagons. According to the automaker's press release, the first recall affects some 2006 Passat sedans that have a wiper motor that could conk out in heavy rain from moisture entering the wiper motor. The second recall involves 2006/07 Passat sedans and some 2007 Passat wagons that could have a power brake vacuum line that fractures and becomes disconnected when it's cold outside. VW says about 62,000 vehicles are affected, all of which were sold in the U.S. and Canada. Owners will get a letter in the mail from VW with instructions on how to find their dealer and get these issues fixed fast.
In my opinion, $500 a month is way too much money to pay for a Passat. It is a nice car, but there are a lot of even better ones that can be had for $500 per month. Shoot for the payment that I worked up for you earlier. In fact, you should probably be able to beat it given the fact that in February Volkswagen introduced $750 lease cash on Passat Sedan 2.0T models. Make sure to take this cash into account when negotiating your car's lease payment. It might not be a bad idea to comparison shop with a different dealer or two.
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I am currently deciding between the 2.0T and 3.6 Passat.
Can anyone tell me what the current March 2007 money factor is on both cars (2.0T and 3.6) and what the residual value is? I have gotten conflicting information from a few dealers. One dealer quoted .00047 for the 3.6. For the 2.0T they quoted .00086 and .00111. Do these figures seem correct. I am current Passat customer, does that factor in the mix as well.
Looking at 36 months with 15,000 miles a year. Any help is greatly appreciated
Thanks
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2007 passat 3.6 4 motion
15,000 miles/ year
36 month lease
MSRP $39,290
down payment $6,000
monthly payment $459 inc tax.
I wanted to put more money down to keep the payments in the mid $400/month range.
Thanks
I would like toi know if I am getting a good deal on a 2007 passat 2.0T lease. I have a deal for 355.00 taxncluded 18000 miles per year 36 month lease. I am trading in a 2001 Passat. They are giving me $7000 for it. With that, I am upside down $2700 on my loan. I am putting down $1500.00. It is the 2007 base Passat. Not the value edition.
What do you think?
Just leased 2007 Passat Wolfsburg
MSRP $27995
Trade 2005 Cobalt upside down by $1500.00
48 mo lease including all discounts and cash back
and $1000.00 Dn (includes 1 st paymnet).
10K miles/yr
299.86/mo
Vehicle still has to be PDI, will provide any requested specifics after Monday 4/2/07
Thanks
Are the lease rates posted above in response to "spott" still valid for April? Also are the cash incentives still valid? Looking to trade my lease in early(have 2 months remaining) and get another Passat, Wolfsburg model specifically and the incentives would make it very attractive.
Thanks.
Do a search on google for a lease calculator and plug in amounts that you know along with some of the money factors and residuals that are given a few posts up to see what that gives you.
I am thinking(best guess) for the Passat you should be closer to $400 and the Jetta should be closer to $325. Now, those are very rough estimates and just something I plugged into a spreadsheet without knowing all of the particulars of your deal.
'07 Passat Wolfsburg w/ splash guards, rubber mats and trunk guard $27,899 including delivery.
Gross Cap Cost $28586.72
Cap reduction $4295.18
Adjusted Cap $24291.54
Residual Value $13386.72
Depreciation $10904.82
Rent Charge $2803.02
Total Base Pmt $13707.84
Term 48 mo
Base Pay $285.58
Tax $14.28
Total Monthly $299.86
Above includes $1000 out of pocket total.
Shows Net Trade allowance as $2300.00
Amount paid in Cash: self $1000, VW $1500.00
Trade '05 Cobalt Payoff $12243.00
Dealer... Star Motors Clarksburg, WV