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2013 and earlier Volkswagen Passat Lease Questions
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thanks for the info.
Q.
Do you know if for NY state the tax is based on the monthly payment? I never paid tax on the entire purchase price for any of my previous leases.
If you previously leased a Passat, the incentive should be $2,000.00, correct? then you payments should be $55.00 bucks different.
is that correct?
Thanks in advance,
My car is paid off with only 59,000 miles on odometer but gets only about 13 city/17 highway. I drive about 1,000 miles per month. So I am enjoying my time with no car payment but with gas prices going up, I would be saving half my new lease payment just in gas. My extended warranty ends this summer. Tough decision.
I'm not sure what the current loyalty is for April.
I think you are correct about VA, as well... You pay on the entire purchase price.. Of course, their tax rate is around 3%, so not as bad as it sounds..
regards,
kyfdx
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Now that I learned the formula to calculate the montly payment of a car, I am trying to understand or figure out the following:
Interest Rate
Money Factor
Residual
In order for me to calculate the proper monthly payment for a Passat Lux, I will need to know these three values.
In my experience gained in the past 3 weeks, by going to 3 diiferent dealers, I noticed that each one of these 3 values above are different when visiting each dealer.
So the questions is: Is there a fix value for the interest rate, money factor and residual.
I would think that the interest rate would depend on: 1) One's credit rating and 2) which bank the dealer works with.
However, the money factor and residual should be the same throughout the 50 states. Am I right?
Anyone?
OK,
For those interested, I just answered one of my questions: The residual is set by the manufacture at its own leasure. That gives the dealer room to change the residual value of a car.
http://www.leaseguide.com/Articles/residualvalues.htm
36 months, 15K miles/year, $1000 due at signing, 35 payments of $469. Only good today, I guess some incentives are expiring at the end of the month.
AZGuy
Passat Komfort Wagon
36 month lease
12K miles per annum
zero down
mats included
$372 per month incl. tax
I'm in Indianapolis area
Good luck. It will be interesting to see what deals and promotions are retained next month.
AZguy.
AZGuy
Honda lease trade in of $1500
They make 1st payment
AZGuy
I could be wrong..
regards,
kyfdx
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Here are the details of the lease offers I received last night (end of the month) from dealerships in the Raleigh Durham area. I did not buy last night (though there was intense pressure!) and I'm wondering if i did the right thing this morning!
1. For a Turbo (base model) with heated front seats: I was offered $355 a month for 12k/yr lease for 24 months. Negotiated sale price: 23480 (including $940 tax, title, doc fees). Residual was at 59%.
2. For a Komfort model with heated front seats: I was offered $389/month for a 12k/yr lease for 24 months. Not sure of the sale price on this car because the dealer didn't give any. He merely suggested this as an upgrade. The one thing I noted was that he mentioned something about owner loyalty casually - i think he offered me the $389 figure only if I qualified for that. I dont!
So I guess really the issue that's bothering me is: should I have walked away from the Turbo deal that is in #1. I wanted the united gray color but they didnt have that in stock in either trim and offered me other colors (another justification for why I didnt buy last night even if the deal was spectacular!).
Your feedback is appreciated. Maybe I'll learn to jump on a good offer when i go to the dealer this month!
ONE THING MORE: I live in NC now but am moving to Indiana in 2 months. I am debating between leasing the car in NC and driving it to IN or leasing it in IN. So far, every dealer I have spoken to has said that VW has a good dealer network and that I should have no troubles in buying in NC and relocating to IN. That's true, isn't it? :confuse:
How does NC tax leases? Do you pay the tax upfront? I think Indiana taxes the monthly payment. If you lease in NC and pay the tax, once you get to Indiana and register the car, you'll have to pay tax again on the monthly payment.
I'm not positive that is how the tax works in those two states, but if it is, then you definitely want to wait until you get to Indiana to lease the car.
regards,
kyfdx
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As for the sign and drive deals to continue, my dealer said no but maybe some other financing at a later date.
My overall residual(payments plus real residual) is 22K plus change and mileage is pretty low-18K which makes me 6K under my annual 12K mileage. The lease is over in over a year, in June of 2009.
I want to get an 08 Wagon, maybe with lesser options for about the same lease rate monthly-391 including 8.25 CA tax.
What should I expect my conversation with the internet manager to be like?
Will all of it be about me being upside down on my lease and them wanting to roll my existing lease remainder into the new lease?
Any suggestions are appreciated.
Thank you.
That would be my guess... I'd ride out your lease..
regards,
kyfdx
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Thanks,
RL
Thanks
You can't really do the math this way. There is a big difference in making an up front payment of $1999 and paying the same amount over time. The difference is the "time value of money" as in the up front scenario you are giving up the use of the money and in the over time scenario you retain the use of the money. Another difference here is that the sign and drive included the first month's payment so that deal was only 35 payments and not 36.
I would guess you could get a lease deal that, in total, is not so different than what was previously offered as the summer is approaching and the new model year cars will be arriving soon. However, VW corporate is no longer offering the support for the money factors that made the sign and drive a good deal.
Lastly, try asking the dealer for a lease quote with no money down. This will give you a better comparison and you'll know what your negotiating for. If you read most of these forums, the prevailing opinion is that, when leasing, it's best to avoid putting money down if you can.
http://www.vw.com/specialoffers/en/us/#/passat/
What would you estimate is the best payment I would be able to get a Passat Lux for with this month's promotion? Passat Lux I am considering has an MSRP of about $30,750.
Also, if I choose to put nothing down as in the "$0.00 due at signing offer available. Please see your dealer for details.", mentioned in the ad, what is the best I could do on a lease payment?
Looks like MSRP is around $35,500.
What should I pay for this car? With specials what should a lease be? I would prefer a sign and drive but don't mind paying the first months payment up front.
thanks
They are quoting a price of $31908 (94.4%)
On a 36 month lease with 12K per year, they are offering $499+tax sign and drive ($534) or $479+tax ($512), with $688 upfront total.
Based on the new special on the web this doesn't appear that great.
Thoughts?
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
If yes, what is the number? :confuse:
By the way, anyone knows the current MF, Residual and bank Fee.
12K, 36 months on a passat lux or passat Komfort
By the way, I posted a thread #649. Do you have the answer?
VW phone # to call and ask directly for MF and Residual value, bank fee. I figure the dealer was trying to pull one on me.
Do you know May MF and Residual Value, Bank fee for
Passat Lux or Passat Komfort. 36 months, 12K 0 down.
thanks in advance.
Just want to let people know my deal.
I just purchased a new 2008 Passat Komfort Wagon,
325 + tax
36 months 12,000 miles
Drive off - first month down
(Gross cap cost 26394)
I'm pretty happy with that. This was from Livingston VW, Woodland Hills CA.
I was offered 319 + tax, first month down in an email and they offered to get me any color in 24-48 hours. (Other dealers were offering me 375, 395, 442!!) So I went to the dealer and I picked a silver komfort wagon which happened to be in San Diego. When it came to manager approval, he flatly refused, saying I could have the white komfort on the lot, but he wanted $10 a month more to get the one from San Diego etc. etc. Sounded like a tactic to get more money, so we haggled and settled on an extra 6 bucks. No big deal considering the money factor is so low and I was getting the car I wanted.
Thanks!
after 2 months of reasearch going from dealer to dealer, I got yesterday the best deal ever.
My deal was so good that I did not even ask for MF or residual or car price.
Here is my deal:
Passat 2008 Luxury
monthly payment including tax: 350.00
upfront: 204
first month paid by VW.
good luck to everyone else looking for a passat. If you want to know where I got my deal, let me know.
36 months
10,000 miles.
If I chose 48 months, which I am considering, the monthly payment will drop 10-15 bucks.
for those interested, the dealier is:
Bayside VW in Queens NY.
I have seem bad coments about Bayside service center, and I must say that in my experience with my last 2 leases, the sale person have been nice and decent.
The only downside to this deal, is that they don't have the car and I may have to wait 2-3 weeks until they get me one. -I can wait.
I email a few dealerships' internet sales manager that say something like the following: "I'm interested in leasing a Volkswagen Passat Komfort in Black, Grey or Silver for either 24 mos or 36 mos / 15k per year. THe options I'm interested are heated seats. Please provide me with a quote via email with the following info:
MSRP
Purchase Price
Residual
Money Factor / INterest Rates
Inception FEes - Please itemize.
I usually get an email reply asking me to come in and go for a test drive. By this point I've already driven whatever vehicle I'm leasing so I simply reply that I already have and am interested in the financial details. Some try to call instead of email. If I get a voicemail (I travel internationally for work) I just send another email saying that I got their voicemail and to please send me the information via email.
Once I have the information from the dealers, I compare them to each other and to what I read in the message boards here. Then I pick one and go into the dealership to do the paperwork.
Just leased my mum a black passat komfort with tan interior. Includes IPod Adapter and heated seats and rubber floor mats.
Drive off/inception fee was $790, which includes the first month's payment.
Monthly Payments are $289 including tax. Lease is 36 months / 15k. I'll have to check, but I think that the residual was 47& and the money factor was .00018
The original offer that I got was from Quirk VW. The internet sales manager's name is Mark Gallagher - very good guy to work with. Unfortunately Quirk didn't have anything in Komforts other than Blue Slate or whatever that color is. Minuteman VW in Bedford, MA was willing to match the offer and get a black passat from another dealer, something that Quirk says that they don't do. So we did the deal with Minuteman. The whole process from initial email to sign took approximately 1 week.
$2k down
$312 month/48 mos.
first month 'free'
maintenance booklet covers all maintenance for 4 yrs (supposedly)
residual is somewhere around $12,300
Thanks in advance!
your deal seems too good to be true! what was the name of the sales person at bayside VW you dealt with? i'm thinking about taking a trip out there from staten island this weekend. considering all the incentives and their advertised "92 hour sale" i can't see why i wouldn't drive the car off the lot! i can see online they still have a lux in the color i want! i would love to tell them i heard about your deal in hopes they can extend the same terms to me
thanks in advance!
nick
I picked up my car last night. I could not believe I was getting this deal until the contract was signed. I thought the dealer was going to pull a fast one on me; so as I was getting the contract from them, I started reading carefully to see all the numbers. -they were honest.
How I got this deal:
I assume I got this deal for the following reasons:
- I was a previous passat owner and purchased from the same dealer.
- I got the owner loyalty rebate
- I have 750+ credit rating
- I usually pay my monthly payments one month in advance. Basically, I was always a month or two ahead in payments.
- Last, I must say the dealer was honest. I dealt with the manager directly. As a saleman, he is one hell of an honest guy.
- I brought business to them, 2 clients already.
You can use my name as a reference. He gave very good deals to my friends as well. -Not as good as mine though. but it was probably for the reasons above. they paid 35 and 40 more then me a month.
Send me an email and I give you the name. I dont think one can provide sale person's name on this forum.
send email to lepia3000@hotmail.com and I give you all info you need.
Not all, but must of the sale people at Baysde are good people.
Good luck.
I know its been a couple months...but what was the miles allowance for the Touareg above - 10k? 12k?.
I'm negotiating a Passat Wagon VR6 4motion - the base price is similar to your deal - but I still can't get to the monthly payments.
My deal:
MSRP $41,040
Neg Price $36,487
36mos 15k/year
$0 drive off
.00024
7.75% Tax out here
Residual 44%
$558.32/month w/tax
They added some type of family loyalty thing $1000 discount to get to the price.
Any thoughts - how low can I get this?