2013 and earlier Volkswagen Passat Lease Questions

carteach · November 2007

"There is at leat $3,000 factory dealer cash on the table. So you should be getting a price of invoice minus that ay a minimum. "

Are you talking about 2008 model? Can you tell me where that info is?

Thanks

carteach · November 2007

What should my daughter expect to pay on a lease for a Passat Lux '08 with no money down. I know there's a more complicated formula than that. Is that a sticky on this thread? Or can someone explain it to me, please. I've only bought, not leased, cars before.

Also, does anyone know whether VW usually has incentives etc. after Thanksgiving?

Thanks again.

eric0476 · November 2007

Here is the price that I have on a 08 Passat Komfort with the following options: heated seats, iPod Adapter, rear cargo mat, & rubber floor mats.

MSRP: $29,039
Price: $27,522
39 month/15K lease: $440

Is this a good deal?

carteach · December 2007

I'm writing on behalf of my daughter. She's about to return her Passat. She's over her mileage and is aware of that. More than that, her car has a large ding on the hood as well as a small rip in the inside trim around the door.

She does not want to lease or buy another Passat. Is there anything she should/can do when she returns the car?

Thanks for any help.

gassy1cars1 · December 2007

Car man:
Because of the past successes I had following your advice I need you to approve my moving forward with this deal. 2008 Passat Komfort with add ons like rear side air bags, heated seats, matt package and mud guards. MSRP 29,005, Cap cost with 575. acq. fee included. 26,680... Money factor .00118, term 39 mos., 15K miles per year..residual 14,212..monthly pay't w/o tax 367.93. At signing I will pay misc. tag transfer and VW makes my first months payment.
I am told that there is $1K dealer cash on this car and I am getting a $1,500 reduction from MSRP due to being an existing VW Leasee. What's your advice on this deal?
Thanks. (Your previous advice was provided to me as gassy1cars, I had to add a suffix to get on as a new member this time because of relocation)

CarMan@Edmunds · December 2007

Hi hairysoda. Volkswagen is running an early lease termination program for current Jetta lessees right now. Current lessees of Jettas through VW Credit with scheduled end dates of 1/2/2008 through 5/31/2008 are eligible to have up to their final six payments waived if they finance or lease any new Volkswagen through VW Credit before the end of the year.

Car_man
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CarMan@Edmunds · December 2007

Hello eric0476. A base 2008 Volkswagen Passat Komfort has a spread of a little over $1,800 between its MSRP and its dealer invoice price. The $1,500 discount that you were quoted looks pretty attractive to me. It puts you at only a couple hundred dollars over invoice. Just make sure that the dealer you are working with uses VW Credit's current 39 month buy rate lease money factor of .00118 to calculate your monthly payment and you're in business.

Car_man
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CarMan@Edmunds · December 2007

Hi carteach. I am sorry to say that if your daughter's car is over her allowed mileage and has excess wear and tear that there really is not a whole lot that she can do to avoid having to pay a penalty at lease-end.

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CarMan@Edmunds · December 2007

Hey gassy1cars. I'm glad that I have been able to help you out in the past. The 2007 Volkswagen Passat Komfort that you described probably has a spread of around $1,900 between its full MSRP and its dealer invoice price. Plus as a returning VW Credit lessee you are eligible for a $1,500 incentive on this car. That gives you a total of $3,400 to play with. After the acquisition fee is backed out, it looks like you are being given a discount of around $2,900. That would be equivalent to around $500 over invoice which is a very good deal. The money factor that you were quoted is right in line with VW Credit's current buy rate for this model. If you like this car, I personally don't see any reason not to go for it.

Car_man
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ramireaj · December 2007

Hi, I have lots of questions!!

I currently have a 2004 VW Jetta leased that expires this June. However, I am thinking about turning it in early. I am interested in leasing a Passat but here's the thing: the website currently offers a lease on an 08 Passat 2.0T Turbo with auto transmission for $359/mo. for 39 months. On Edmonds.com I found out how to calculate a lease (http://www.edmunds.com/advice/leasing/articles/48365/article.html).

Using the MSRP of 25630 (incl. destination) and a money factor of 0.0018, I come up with a payment of $292.78 (excl. taxes and all other fees). What am I missing here? It is over a $2500 difference over the term of the lease.
Also, how would the $1500 in owner loyalty (that is currently being offered) impact the lease?
Thanks for your help.

carrerah · December 2007

Hi there. I'm jumping in a little late on this one - but am looking at '08 Passats tomorrow. Saw the MF you posted for a VW 39 month lse. Do you know the residual amount (%)? Also, I assume the $3k incentive was on the '07 models? Are there any special incentives on the '08s that you know of? Thank you!

search4car · December 2007

I think you've got the money factor off a little. I think it's actually .00118.

Try using this: http://www.leaseguide.com/calc.htm

I was able to come up with 355 before tax

search4car · December 2007

OK - so a 15K lease has a residual of 49%

What's the residual for 16, 17, or 18??

I had a vw 18K lease before, but I don't know how this was figured.

fleased · December 2007

I'm nearing the end of my 2003 Passat GL lease(2 payments left) and I'm wondering if I should buy the thing right now - 10 day buyout is $10250 .
Yes, you can all stop laughing--as a leasing newbie I naively went with a five year lease (I said stop laughing!) and paid $350 a month for the privilege. I'm sure I've been fleeced and knowing that I've already paid around $20k, plonking down another 10k is a rather painful prospect, but I'm trying to separate the two scenarios.
I love the car, and it's below the allowed mileage(at 43k) and from what I can gather the price seems to be in the ballpark. It needs new tires, so if I turn it in I'll be charged for that, I'm sure. So at that point I'll have to fork out $350 turn-in fee and money for the tires and whatever else they deem above normal wear and tear, and at that point I still have to find another car that I like as much as this one. Since I'd like to get out of leasing, does it seem like a good idea to go with the buyout?
A couple of questions I have are:
How is the FL sales tax assesed? If I go with my credit union for financing, would each payment have a tax added or would I have to deal with DMV and pay a lump sum?
Also, would an extended warranty be a must, since the car is already five years old?
Thanks in advance (holds his breath for the requisite jabs at long-term maintenance costs of VW cars)
Steve R.

search4car · December 2007

fleased - While you may be been fleased with your lease, you may be able to make out well with buying it out. I would look at the market to see how much it would cost you to buy your car on the open market. If it's a good deal, why not?

Additionally, here's some advice. I actuallly bought out my 03 Passat about a year ago. VW would prefer you to buy it out, so they will attempt to incent you to do just that. They gave me $1000 off the residual, so while my residual was 12,000, I only had to pay 11,000 (plus tax of course). I just paid cash, but I think they also offered to finance it at a great rate. So, call them asap and tell them your considering buying it out, and see what they say. They may offer it to you for $9k with a great rate.

Let us know how it goes.

qbrozen · December 2007

In addition to the above advise (which is very good concerning negotiating the buyout price), I would suggest, if you do decide to turn it in, go ahead and get new tires put on beforehand. I can't be sure this would happen, but I think it is a safe bet that they will charge you more for tires when you turn it in than if you just went and got them yourself. I plan on doing this with our lease. I'll find the cheapest tires I can before turning it in.

bunduz · December 2007

Hi Car man

I have a 2004 Passat that is over miles and would like to look at terminating the lease early. Do you know if Volkswagen is running an early lease termination programs that could get me into a 08 or 07 with nothing out of pocket? I appreciate your help.

thanks

search4car · December 2007

bunduz,

It depends on when your lease is up. VW is currently running their Lease Pull Ahead program. Does your lease end between January 2nd and May 31st 2008? If so, you qualify for this. The best part is that your milage allowance is not prorated, so especially since you are over miles this is a great option. So you get to turn it in early, but you get the full milage. Additionally since you are a current owner of a VW you'll get a $1500 credit. There are additional factory to dealer incentives that you could request be passed on to you. I would suggest calling all the dealers in your area to inquire what additional incentives they may have that they are willing to pass on.

In what state are you located?

search4car · December 2007

Re: replacing tires at lease turn in: I would not buy any tires until you've had the inspection. If they pass inspection, then you should be ok. If not then go out and by "used" tires. I got some once for $50 each - challenge is they need to all match and be the correct tires. I found a great store for this.

bunduz · December 2007

Hey Search4car,

I am in The KC area. This is my second VW in a row from Baron in Merriam. My lease is up around May 1, 2008.

Thanks,

search4car · December 2007

So this is great timing for you, you'll maximize the pull ahead program. You have about 2 weeks before all the special deals go away. I justed leased a new 2008 Komfort (plus heated seats, ipod, and rubber mats). I negotiated from invoice, and got them to 100 over invoice, then they applied the $1500 loyalty, plus there was an additional $1000 Factory to Dealer incentive in my area they passed my way. (total sales price $2400 under invoice)

I used to live in KC and went to Baron as well. There is another dealer in Topeka that always beat them on price. very nice too. - http://www.sunflowervw.com

If you PM me I'll send you the name of the person to talk to (GM/owner).

Also, be sure to maximize the sign and drive promotion. Don't pay ANYTHING out of pocket when you pick it up. Have them roll in everything including tags. Just make sure you understand what's being rolled in so you don't get stuck with fees. Ask for the residual and money factor and figure the lease payment yourself (http://www.leaseguide.com/calc.htm). If it doesn't add up, show them your calculations and ask why? I saved a $1000 doing this. When you're talking price (I always suggest doing this over email and phone) if they mention a monthly payment number, be sure to clarify what it includes. I've noticed a trick is they will say the payment not including tax. This will get your interest, and it may not be until later that you realize theres anothe 30-40 a mo. they somehow just didn't mention. Always ask, is that including tax? They pay your first month, then you pay the second month.

As i recently learned, dealerships are very quiet in December and that's why it's the best time of the year to buy a car. As most vw leases are 39 mo. I hope to have a similar situation as yours in 3 years.

search4car · December 2007

It was someplace in the west bottoms that I got the used tires. When they get a new shipment in, they would have a huge inventory. They also are a supplier for any other shop looking for used tires.

I can't remember the name.

qbrozen · December 2007

used tires may not be a bad idea.

But, as far as the inspection goes, maybe this is rare, but my contract fineprint actually states how deep the tread needs to be at turn-in. So if my tires don't have that depth, then I will replace them prior to inspection. No point in waiting. Besides, then you'd have to get a 2nd inspection. Would they charge for that? I would think so since you are taking up their time.

williewy · December 2007

Hello Carman, I am interested in your feedback, or anyone else for that matter reagrding the following offer:
2008 Passat 4Motion Wagon
$39979 is MSRP (includes iPod option + Destination Charge), Invoice is $37,370
$36,647 is offer

for 12k miles/ year, 39 month lease:
Offer is .00163 MF w/ .47 Residual

MF and Residual seem high. How much money am I leaving on the table?

search4car · December 2007

As far as I know the money factor is .00118 for the passat, I didn't think it was different for the wagon, but perhaps it is.

Are they applying any rebates to get it below invoice?

hauschild · December 2007

Guys,

Sorry for not reading ALL the messages in this thread, but I'm kinda pressed for time. Here's my story:

2008 Passat stickered around 26k for $359 per month, 15k mileage allowance, the current Drive 2 Buy promotion and 39 month lease. The salesman told me he'll work with me because it's month/year end. What is a fair counter offer here? I'm pretty satisfied with the montly payment but I'd like to up the mileage allowance to at least 18k per year - where do I have more leverage here, mileage allowance or montly payment???

I've never leased before, but I understand the basics.

search4car · December 2007

1. Did you ask if the 359 includes tax? if not, how is the tax figured?

2. at 15K what is the residual % he's using? - should be 49%

3. What's the money factor? should be .00118

4. What's the sales price for the $359.

This time of the year I would expect to get it for very near invoice plus any incentives.

hauschild · December 2007

Good point - the 359 does not count any tax/title monies I put down. I pay those amounts and my payment is still $359 per month.

The sticker on the car is around 26k.

I have no idea about residuals or money factor, but this was his first offer to me and what I'd like to know is how aggressive or greedy can I get? I want to be reasonably aggresive in my counter offer, but I don't want to appear boorish. So, I'm wondering if I have more leverage by keeping the payment at 359 and asking for 18-20k annual mileage allowance, or if it is better for me to ask to drop to a, say, $325 monthly payment.

I've put out feeler quotes to 2 additional dealers, but my original guy seems the most interested in dealing with me, and the other two dealerships are in the process of presenting offers - and I gave them the numbers my guy offered ot work from - telling them I'd like to keep the payment at $359 but bump up the mileage to 18-20. Again, not sure how realistic that is since those numbers would put me over the warranty when the car is turned in, thus making it less valuable, I would assume..

hauschild · December 2007

Guys, I'm on a last-minute cramming session and need a quick refresher on leasing 101:

I just recieved an email from my salesman's manager saying they haven't reached their December quotas and he wants to deal.

Okay, I've been reading all these posts about residual value, the money factor and all that jive - but what does it all boil down to?

Basically, all I need to know is with the current Drive 2 Buy incentive that only requires the taxes and fees down, what is a good offer to put in on a 26k MSRP Passat? If I offer 300-500 above invoice and they accept, how do I know I'm not taking in the keister in some other areas like if I ask for a higher mileage rate like 20k???

I guess what I am asking is this - for a Passat that is currently MSRP'd at 26k, what should I offer and assuming the standard money factors and residual value, what would then be an acceptable offer per month for a 39 month lease at 20k mileage allowance???

hauschild · December 2007

Guys,

Okay, I just got the numbers: 49% residual and .00118 MF, which is what you guys were talking.

On the 26k car at 300 UNDER INVOICE for selling price of 24308 here are the numbers I've been quoted:
-15k = 350
-16k = 362
-17k = 374
-18k = 386
-19k = 398
-20k = 410

Now, one thing that didn't seem right to me was that the sales manager couldn't explain how the 575 acquisition fee comes into play. He told me my taxes and plates come to 1787, but I asked him why the acquisition fee isn't included here and he told me it gets "rolled in somehow". When I run the numbers on a leasing calculator, I get 364 for 15k without adding the 575 fee, so the dealer is still lower.

Do the numbers the manager gave me jive in terms of the Net Cap Cost amount and montly payment???

There is another question I have about purchasing the xtra miles up front - at 12 bucks per month, that comes to 468 dollars over 39 months - that seems ridiculously high because it appears I would be better off paying 25 cents for 1000 mliles which comes to 250 bucks as opposed to 463. Am I missing something here???

kyfdx · December 2007

15K miles to 16K miles is 3250 extra miles over 39 months... not 1000 extra..

hauschild · December 2007

Holy balls - I'm an idiot. Thanks.

Also, the Passat is OUT for me - I just drove one and my initial instinct was correct - I'm not comforable in bigger cars. Quite frankly, it didn't seem much different on the inside than a Ford Taurus. For some reason, I remember the Volks interiors to be more distinctive in the older models - maybe I'm completely off-base, but that's my feeling.

I re-drove the GLI and it's pricey at 30k, but that type of car suits me better. I won't get as good a deal - 500 over invoice - residual is 53% and the MF = .00130, so the payments go up to 410, getting ever closer to an Audi's range.

You guys can disregard my previous posts as I'm going to have re-think this entire situation.

kyfdx · December 2007

I only caught it, because I've made the same mistake a few dozen times..

If you are interested in the GLI, my local dealer ran an ad today... Leftover '07 GLI for $5K off MSRP.

There must be some dealer cash involved there, because if you take that price, you aren't eligible for the subvented financing rate.

regards,
kyfdx
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bpitt1 · December 2007

2008 Komfort Wagon... got it at dealer invoice plus $2k owner loyalty rebate...
money factor for wagon is .00125, residual 51% of msrp.

Excellent salesperson (internet dept.); honest, up-front, absolutely no bs. Got me the color I wanted even though they didn't have it on the lot. Traded in my 06 Passat sedan, received a very fair price (even though one loses quite a bit in the first 2 years). Final cost: $308/mo., including tax. Having dealt with 3 other dealers in the area, this one is tops.

Commonwealth: Orange County VW, Santa Ana, CA

hauschild · December 2007

Well, after numerous test drives of Passat's, GLI's, GTI's and EOS's, I liked the GLI the best, but was not terribly wow'ed by any of them, except the GLI's really have some zip.

While staring out the window in the showroom, I noticed a pre-owned A4 I hadn't noticed before. It was new to the lot, I inquired on the price, drove it and realized this was the car for me. I haggled like crazy and ended up driving the A4 off the lot around 1am this morning. I think I did pretty well on the price. The following link is my car - it's all accurate except it's actually an auto - not a manual tranny. It's really a sweet ride. After 6 years of driving my beloved Focus ZX3, I'm finally adding an A4 to my collection.

http://www.theautobarn.com/detail-2005-audi-a4-2_0t_quattro-2527697.html

kyfdx · December 2007

Looks nice! Congratulations..

parvez · December 2007

Hello all and hope everyone's holidays are going well.

If someone could help me figure this out - I'm trying to get into my first VW Passat lease. I went and test drove one and liked it:

08 Passat Komfort sedan
12k mile lease with $0 down
Net Cap cost: $29251.48
MF: 0.00118
Residual of 51%
Monthly payment of $423.60

Does this sound ok? I have a 3.2% tax for VA and the invoice price is $27,788 plus a $575 acquisition fees which this guy says he cannot take off. After that, I still am $988 and some change short of the net cap cost listed above....is it fair to assume that that's tax? or should I be asking him to take the acquisition fees and the $988 and change off?

All in all, it looks like a decent deal to me - I just would like to know if there is any more 'wiggle' room to get the monthly payment lower?

Thanks for any and all input in advance!

bpitt1 · December 2007

This seems high... you should be able to get a cap cost of invoice. How many komfort sedans do they have on the lot? Remember, you should be negotiating as though you were going to buy the car. Would you buy one for msrp? Probably not. It looks like the dealer is not cutting you a deal at all, since VW is floating the low money factor.
Offer him invoice for the car; you'll still have to pay the acquisition fee, tax and license.
Check out www.leaseguide.com/calc.htm which should give you a good idea of what payments would be.

The VW site offers a base turbo sedan at $349/mo (plus tax & fees), (10k per year), $0 drive-off for 39 months. I can't imagine that a Komfort model with 12 k should cost you
$80 more per month. VW picked up the first month's payment, plus I got $2350 owner loyalty since I owned a VW (2006 sedan traded in for 2008 wagon). Good luck!

parvez · December 2007

Hey, thanks for the reply.

The actual invoice is $27,788.00 plus a $575 acq fee and $988.48 in taxes. I do not pay anything upfront and VW takes care of the first month's payment as well.

Does it still sound high?

Kindly do let me know since I want to get in on this offer.

Thanks

bpitt1 · December 2007

Hi,

If you're getting the car at invoice, you should be ok; ask them if VW has any other dealer incentives they can pass on to you to help defray the tax and fee. (They actually should quote you a figure which includes ALL tax and fees, otherwise it's not a $0 down lease.) Be sure to get enough miles included -cheaper to pay upfront rather than at end.

BTW, if you have ANY use for a wagon... I'd definitely get that instead of the sedan. It drives the same, gets the same mileage, and is versatile. I think it looks better than the sedan (and it definitely is more useful). Since you're leasing the price difference is negligible.
Money factor for a wagon is slightly higher: .00125 vs. .0018.
I had the sedan for 15 months... really like the wagon now.
Good luck...

grnclvrs · January 2008

I am researching a Passat and received the following from a dealer in Florida.

http://www.vw.com/passat/offers/en/us/#passat .

Is this a good deal? When I run the numbers in a lease calculator, it looks like they are selling the car for around $17k to get to that payment.

vw_shpr · January 2008

Just received a quote today on a '08 Passat Komfort (w/ heated seats) of $26,689. Also, was made aware that $1,500 in trade assistance is available for trading in a Honda.

Lease quote as follows:

36 months (12K/YR)
$0 down ($550 due at signing)
Pmts: $366 + Tax
MF: 0.00115
Residual: 50% (MSRP $28,655)

Does this look like a good deal? Milwaukee, WI

CarMan@Edmunds · February 2008

Hi vw_shpr. In addition to the $1,500 incentive that you mentioned, Volkswagen is providing an additional $750 cash incentive on leases of 2.0T Passat models through VW Credit right now. If I was in the market for this car, I personally would shoot for a selling price of around $500 or so over dealer invoice and then have the dealer subtract all of the aforementioned cash incentives from that. You can look up the exact invoice price of the Passat that you are interested in by visiting the New Vehicle Pricing section of Edmunds.com.

The money factor that you were quoted for this car is higher than VW Credit's February buy rate for it. VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Passat 2.0T Sedan with 12,000 miles per year are .00023 and 50%, respectively. Make sure that the dealer you are working with uses this program to calculate your car's monthly payment.

Car_man
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jake555 · February 2008

Hello Car_Man and All,

I would greatly appreciate your opinion on the quote I received for leasing 2008 Passat 2.0T Lux, 36 months, 15k miles per year. The cash price is $500 below invoice minus $1,500 VW loyalty. According to invoice posted on Edmunds, this would make the final price $26,797. The payment quoted by the dealer is $390/month, $0 down, including 6.5% sales tax on the entire cost of the vehicle.

My other question is whether 48-month lease would look more attractive, as I have no information on it. Chicago, IL.

Thank you for your help!

scottinky · February 2008

what are any current VW lease incentives? looking at an 08 Komfort wagon
with an MSRP of $30.134, and trading a Nissan.

gefd28 · February 2008

Hi,

I have the following offer:

2008 Komfort with heated seats and IPOD adaptor (that I don't really want)

36 months $392 with only $143 down (plates)
48 months $362 with only $143 down (plates)

The money factor for 36 mos. is .00023=.6% and .00083=2% for 48 mos.. The residual for 36 mos. is 50% and 43% for 48 mos.. The Net Cap Cost is $28192. Keep in mind, I am using a $26,300 tax credit which equals an additional $1,775 in savings. This means you actually only pay $83.30 in taxes over the full term.

The tax credit has thrown me for a loop Am I getting a good deal here?

Thanks!

Chicago

review1000 · February 2008

I got a quote for the komfort package for 2000 down at 317 a month all included tax title reg, blah, blah.
Now I got them down to 287.00 with 2000 down is this a good deal the MSRP was 25,867 she said 500 below dealer invoive with also 1750 incent and rebate. cant get VW loalty. with money factor is 0.00023 with 51% residual.
I ddi all math and think it i my dad said dont do it because why can they drop the price so fast. I said it is end of month and they want the car off the lot.
Please ANYONE let me know if that is a good deal.
BTW the Residual at end is 13,200.

search4car · February 2008

Just saw an online add (in fact there's one on this page) that they are evidently extending the "sign and drive" event. It will be interesting to see if the lease rates are the same. Now set to expire March 31st, 2008.

ny_wp · March 2008

I just got way high quotes compared to that. How many miles per year?
and where is the dealer??? i'm in NY

review1000 · March 2008

I got only 10K miles for the 266.00 that is all I need it is a second car, but for 12K I got priced at 286.00

2013 and earlier Volkswagen Passat Lease Questions

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