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I leased a new VW Passat CC through this dealer. They used an offer to lease form which doesn't include the selling price of the vehicle on it. They told me the purchasing price was $34,735,which included the base price of $31,975 + $1,400 for auto transmission and $1,360 for freight and PDI. The leasing company is VW Credit Canada Inc. The numbers were the same as posted on VW Canada's website. The monthly payments were a little more than what I wanted to pay so I asked if they could lower the purchase price enough to make the monthly lease payment an amount of $350 per month (this included an $8,000 trade-in). The salesman told me that he required my credit card in order to present this to his manager. He came back with a reworked offer to lease form and told me I have a deal. At that time, the salesman took my ownership papers for the car I was going to trade-in.
What they did not tell me was that they retained the same purchase price, but increased the amount I would have to pay up front, not to mention that they used a slightly higher interest rate to calculate the lease payments than the amount posted on VW Canada's website. After I released what they did, I called the new car sales manager to complain and ask for my $1,000 deposit back. He would not give back the deposit. He agreed to reduce the up-front payment by $700, while maintaining everything else the same. Further I was told that I could have the car in the colour scheme that I wanted by the end of the week. I later found out that they do not have the car I wanted, and promised to order one for me from the manufacturer. The car arrived three weeks later. It did not come from directly the manufacturer. Instead, they acquired it from another dealer and had a manufacture date that was five months old, meaning it had sat through the Canadian winter -- they did not disclose this to me.
When I picked up the car and fill out the leasing paperwork, the leasing rate offered by VW Credit Canada had dropped from 4.9 to 2.9%. The dealer had forms for me to sign which stated that the interest rate was 2.9% but the monthly payments or up-front payments had not changed. The residual value had been lowered by a mere $340.00. Again the purchase price was not disclosed on the new offer to lease form. When I pointed out that the lower interest rate should have a more significant effect on lowering either the up-front payments or the monthly lease payments, I was told that the effect was minimal. The Business Manager told me that they made $250 and he would make it up to me in services. At this point they already had my car and my insurance had already been transferred to the new car. So I just took his word for it. However, the lease agreement itself, which is an entirely different document, only presented to me after all of the above had occurred, contained a Vehicle Selling Price that was $37,662.83. This price was significantly higher than the MSRP of the vehicle, and when I questioned it I was told it includes freight, security deposit and first month payments as well as some other small charges. Not having a computer with me at the dealership, these items cannot be easily checked. After getting home, I realized they the selling price only included freight, not security deposit and first month payment and was $3,319.83 above the selling price I had agreed to. Do I have any recourse against this dealer?
Do you have the March numbers for a Sport, 36 months, 15k? February was great, 60%, wonder if it dropped. Thanks.
I have two related questions. First, I haven't finalized the sales price on the CC I intend to lease. Can you provide the formula for calculating what the lease cost should be? Also what is the current cost of money and residual on a CC Luxury w/ nav, but no backup camera?
Second, I don't know if I'm making an incorrect assumption on leases. Let's say, just as an example that the finalized price is $34084. That's exactly 122% above the MSRP (of $27850) on which the factory lease offer is. So since the sales price has gone up 22%, should the lease cost be $289 X 1.22 or $352?
Somehow I suppose it isn't going to be that easy, but if the cost of money and the residual and the lease term stay the same and only the agreed-upon sales price changes, then my thinking should be correct.
Thanks for your help
Lou in New Mexico
2 Liter Candy White CC Luxury, cornsilk interior, Chrome exhaust Tips, Rubber mats with trunk liner and Technology package w/o rear view camera. 36 month closed end lease w/ 10,000 mileage allowance.
$35,409 MSRP, $33,309 Selling Price.
$453.24 per month.
MF was 0.00073 Residual % is 49% (residual on a Sport is 52
This was in the Southwest where no incentives were currently available. East and West Coast currently have $1000 on a VW and another $1000 on the luxury version.
Hope someone benefits from these numbers besides me.
Lou
Lou
These numbers are set by Volkswagen Credit. Individual dealers do not have the authority to alter vehicles' residual values or lower their money factors. From time to time though, dealers are allowed to mark-up vehicles' money factors to add additional, hidden back-end profit to deals. That is why it is important for consumers to know exactly what the money factor should be for the vehicle that they want to lease prior to entering into negotiations.
When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that Volkswagen is providing on it in many areas right now.
Car_man
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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
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
They started out with an offer of $1,500 down, $470/month, which I knew to be absurd. After some more negotiating we were down to no money down, $430/month incl. taxes, etc. so basically I'm writing a check to VW for $430/month. I walked out hoping that they'd call me with a better offer and they did. Received a call today with an offer of no money down, $410/month. Are they in the right ballpark? Whats a good price for this scenario?
i would have walked out and never gone any further with the dealer for quoting you $470/month with $1500 down. right there, you know they are out to get you.
i prefer to negotiate the price of the car before figuring out the lease payments. that way you know exactly what the lease payment should be with the residual and money factor. in other words, if you have the negotiated selling price of the car (hopefully around invoice), you know exactly what the payment should be with different scenarios of money down.
i'm paying $389/month for a LUX CC with $1000 down and taxes upfront ($1200) for 36 months/12K miles a year. not sure if that will help with the payments the NY dealer is quoting you...
Would it be around $290 a month with tax with the $3000 down?
36 months
Manual
12000 Miles
$1495.00 due at signing
$280.00 plus tax a month
(getting out of touareg lease) I think is a great deal right?
Can anyone tell me the numbers on the market as now for... ???
CC Sport 36 month lease manual 12000 Miles
Residual value:???
The money factor:???
One more question....
Does anyone knows if Volkswagen will have any other promotion for lease on april?
Thanks
I would be happy to use Volkswagen's actual lease program to estimate what the lease payment would be on the CC that you are interested in right now. However, in order for me to do so I need you to provide me with its full MSRP and its approcximate selling price (or at least its dealer invoice price). You can find that information right here at Edmunds.com over in the New Vehicle Pricing section.
Let me know what the prices are and I'll crunch some numbers for you.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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If you were to lease an '09 CC VR6 4-Motion through VW Credit for 36 months with 10k miles per year, its numbers would be .00041 and 47%. Its 48 month numbers would be .00108 and 40%.
As I mentioned in my previous posts, make sure to take the $1,000 cash incentive that is available on this car into account when negotiating the capitalized cost for your lease.
Car_man
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If only one (or two) dealers in the area, considering lease vs. buy, or maybe some other special circumstance, crunching the numbers makes sense. Otherwise, simplify the process by talking monthly payment and lease turn-in fees with the dealer and that's it!
Edmunds lease calculator is a great tool and Car_man seems to me to be giving really great advise and figures but a better negotiating position comes from talking directly about the lease payment and as little else as possible.
What do you guys think?
Dan
BTW $399.78 for 36mo. 15k for a CC with bluetooth, chrome tips, rubber mats with deal done 4/12/09. Best deal I could get in 2 days of email communication and a no hassle 1hr. closing.
Also, is the MF and Residual the same as the Sport for 15K and 36 months?
We are having trouble finding a Sport in the color combo we want and may go Luxury.
The lease program for the Luxury and Sport trim levels are different. VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2009 CC Luxury 2.0T with 15,000 miles per year are .00122 and 48%, respectively.
Car_man
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VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2009 CC 2.0T Luxury with 15,000 miles per year are .00052 and 45%, respectively.
When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that Volkswagen is currently providing on it.
Car_man
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36 month lease with 12,000 miles per year.
Also, what are current lease and purchase incentives from VW.
Thank you!
When negotiating your lease on these cars, make sure to take advantage of the $1,000 cash incentive that is currently available on them.
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Two quotes today.
One
MSRP - 35,090
Selling Price - 31,765
Residual - 14,665
Residual 42%
Money Factor .00035
Sign and Drive
17,500 miles/year
Per Month - $600 -35 payments
MSRP - 34,670
Sell Px - 32,259
Money Factor - .00052 - Maybe I mis-heard the first one
Residual - 14,933
Sign and Drive
$579 - 36 payments
or buy -
$32,637 + tax and tags
5k down
$855/month for 36 months - 0%
Thoughts?
I see sticker with destination at $28,950.
What is a good ( aggressive ) starting price to negotiate lease ?
36 mos / 10k
Residual ?
Money factor ?
Of course, I live very close to work so only have 10K miles/year. That should make SOME difference.
Many thanks!
1. A trade in of $11,000
2. The Sport or the Luxury Edition
3. 12,000 miles per year for 3 years
4. Extras like the tinted windows, rear seat airbags, blue tooth and nav.
I received a quote on the Sport without Nav for $264 per month, which sounds good, but I think is still too high given the trade in value and the residual value of the car three years from now.
I hear there is $1k lease bonus money around ?
Im interested in a CC Sport Auto 10k/year. To lower my payments, I'm thinking of doing a 48mos and getting an extended warranty. Thoughts ?
First, I want to say thanks for a great forum. Lots of really good information here.
So I went to the VW dealership today and this is what I walked away with -
2009 VR6, 4 Motion CC
MSRP - $39,990
Invoice - $37,908
Incentives - $2,000
Lease - 36 mos.
Mileage - 10k/year
Residual - 45%
MR - .003
Monthly Payment - $536
This is my first time leasing a car, and while I am pretty familiar with the terminology and process, I am less familiar on what I should negotiate on a lease. Do you, or anyone on here, have any insights into this?
Your help is appreciated.
CC Sport
Auto
10k / 48mos
Blue Tooth
Sirius
Chrome Tips
Floor mat / trunk liner kit
$395 incl tax. Nothing down
Think its ok
I have a 2003 Toyota Tundra 2wd that had a new tranny replaced under warranty at 43,000 miles and under 4 years old. I appreciated the warranty as I had a loaner for a week and now have a fairly new transmission all for not one penny out my pocket. Probably would have cost around $3000. And if you think it was hotrodded think again. I'm late fifties and drive it pretty conservatively in a suburban setting. I know it's somewhat rare but it does happen.
I am looking to lease a CC either Lux 4cyl or 6cyl sport with Nav @ 15k miles for either 36 or 48 months and no $ down. Anyone have these terms? Anyone have an idea of what I should expect? In both cases I have found the rates to be pretty high, especially with a car between $32k - $40k. Am looking in NJ so if anyone knows of a good place please reply. I have found the VW dealerships I have talked to to be very unresponsive and not very hungry to make a deal. Is this car in that much demand?
Thanks