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Volkswagen Passat CC Lease Questions

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Comments

  • I am so ashamed. I’ve been scammed twice by Yorkdale Volkswagon o/b 2031113. I know I should have been more on the ball. I probably cannot do anything about it. Hopefully, others will not make the same mistakes as me. Shop elsewhere.

    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?
  • Title should be Scammed by Yorkdale Volkswagen (Toronto).
  • kozakakozaka Posts: 3
    Car Man
    Do you have the March numbers for a Sport, 36 months, 15k? February was great, 60%, wonder if it dropped. Thanks.
  • Car man,

    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
  • To those of you that are interested, I just negotiated:

    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
  • Sorry, there was a typo in the previous post. The monthly was $435.24 per month, not 453.24 per month.

    Lou
  • Here's the info that you're looking for, eurocarchick. VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2009 CC Lux with 15,000 miles per year are .00073 and 46%, respectively.

    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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  • Hi nhbanker. The numbers that you mentioned in your second post, .00073 and 50%, are correct.

    Car_man
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  • Hello kozaka. VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2009 CC Sport with 15,000 miles per year are .00073 and 50%, respectively.

    Car_man
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  • I'd be happy to help you out, Lou. You can use the formula that is outlined in the following article to calculate lease payments on vehicles: Calculate Your Own Lease Payment. Check it out and let me know if you have any other questions.

    Car_man
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  • Thanks for taking the time to share these numbers with everyone, Lou. I'm sure that many others will find them helpful. If you have the time, you can also hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience. Thanks again.

    Car_man
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  • I started negotiating for a 36 month 12K mile/year lease on a CC sport automatic with a VW dealer in NY on Saturday. Base price is $28,200.

    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?
  • qtsapelas,

    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...
  • cartime5cartime5 Posts: 2
    I am looking into the CC. What would a great deal in regards to leasing a CC Sport Automatic at 36 month with 10k mile allowance?

    Would it be around $290 a month with tax with the $3000 down?
  • in florida I got CC sport lease for
    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
  • nhbankernhbanker Posts: 20
    I would appreciate the MF and residual for a CC Sport for 36 months and 15K miles per year as soon as anyone knows the April deals. Thanks!!
  • Car_Man - When you get the chance can you post the MF and residuals for 36 and 48 month,10K on a VR6 Sport and VR6 4-motion?? Thanks!!
  • Hi cartime5. Let me begin by saying that $3,000 is way too much money to put down on a lease. I always advise consumers not to make large down payments on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you will be much better off going with a zero down lease.

    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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  • Hello leasing2009. VW Credit's current buy rate lase money factor and residual value for a 36 month lease of a 2009 CC Sport with 12,000 miles per year are .00073 and 52%, respectively. In addition to this special money factor, Volkswagen is providing a $1,000 cash incentive on leases of the CC right now.

    Car_man
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  • Here you go, nhbanker. VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2009 CC Sport with 15,000 miles per year are .00073 and 50%, respectively. When negotiating your lease on this car, which is beautiful BTW, make sure to take the $1,000 cash incentive that is currently available on leases of it into account.

    Car_man
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  • Here's the info that you're looking for yeoman. VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2009 CC VR6 Sport (sweet car) with 10,000 miles per year are .00041 and 45%, respectively. The numbers for an otherwise identical 48 month lease of this car are .00108 and 38%.

    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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  • danprtrdanprtr Posts: 25
    Hello, Wondering why so many (just found this forum) are interested in calculating all these numbers? Assuming multiple dealers are in the area, why not just use Edmunds dealer contact form to solicit quotes and inventory info? Doing as much communication email as possible before setting foot in the showroom really helps shave a lot of time and emotional duress for me. Biggest advantage, everything is in writing when to go to close the deal! Sure they might try to nip a few more hundred but you already know what the next best deal is and can walk out whenever they stop making sense.

    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.
  • Yesterday I leased a black on black 2009 CC Sport with automatic, 12 month Sirius Satellite, 10,000 miles per year for 36 months and $1495 down. Payment is $319 plus tax from Gunther Volkswagen in Ft. Lauderdale, Florida. Salesman is Peter Rogers.
  • nhbankernhbanker Posts: 20
    Thanks Car_man. Do you know if the cash incentive on the Luxury is $2000, or is it $1000 like the Sport? I have seen both quoted.
    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.
  • steve346steve346 Posts: 2
    Car_man, do you know the current rate and residual for a Luxury CC 2.0? Thanks!
  • nhbankernhbanker Posts: 20
    Car_man...or anyone else....as soon they are available I would like the residuals and money factors, and any incentives, for both the Sport and Luxury with automatic. 36 mo lease with 15K miles. We will be finalizing our deal in early May, so any help is much appreciated.
  • nhbankernhbanker Posts: 20
    Does anyone know the residual and money factor for a CC Luxury lease with 15K miles and 36 month term? Hoping to make deal soon but need new figures to be sure of payment. Thanks!
  • No problem nhbanker. Volkswagen's cash incentive on leases of the CC is currently $1,000 on 2.0T models and $2,000 on VR6 models.

    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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  • I sure do steve346. You never mentioned how long you want to lease for or what mileage allowance you need so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different.

    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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  • sharkyziffsharkyziff Posts: 15
    I am looking for current/May residual and money factors for a 2009 Volkswagen CC Sport 2.0T with Tiptronic.

    36 month lease with 12,000 miles per year.

    Also, what are current lease and purchase incentives from VW.

    Thank you! :)
  • Here you go, nhbanker. VW Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2009 CC 2.0T Sport with 15,000 miles per year are .00122 and 48%, respectively. The numbers for an otherwise identical lease of a CC 2.0T Luxury are .00052 and 45%.

    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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  • Hey nhbanker. Please see my previous post for the information that you're looking for. Thanks.

    Car_man
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  • Greetings sharkyziff. Volkswagen Credit's current buy rate lease money factor and residual value for a 36 month lease of a CC 2.0T Sport with 12,000 miles per year are .00122 and 50%, respectively. When negotiating your lease on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on it.

    Car_man
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  • Looking at leasing a CC Luxury with Nav in NJ.
    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?
  • mel10021mel10021 Posts: 31
    What are the current figures for a Sport w/ Auto. Nothing else

    I see sticker with destination at $28,950.
    What is a good ( aggressive ) starting price to negotiate lease ?
    36 mos / 10k
    Residual ?
    Money factor ?
  • surfwagon56surfwagon56 Posts: 12
    Seems awfully high to me. I have the same car in CA and paid $2K down and $408/mo for 36 months (sticker was $36, 135). Even dividing the down payment by 36 and adding it to the monthly payments, that still would be an equivalent of $464/month total.

    Of course, I live very close to work so only have 10K miles/year. That should make SOME difference.
  • mpassmpass Posts: 17
    Can I get the May money factor and residual for a 36 mo 15k/yr lease of a CC VR6 Sport (w/ Nav and BT) plus any incentives (nat'l and DC metro), please?

    Many thanks!
  • dros1dros1 Posts: 1
    I recently checked out this car in Dallas. I was wondering what a good deal would be on a lease, assuming the following:

    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.
  • mel10021mel10021 Posts: 31
    Does anyone have current #'s ( money factor, residual ) for a Sport CC with Auto for 36mos; 10k miles

    I hear there is $1k lease bonus money around ?
  • drg8ccdrg8cc Posts: 1
    Car_man, Can you confirm the current May money factor and residual on a 2009 CC VR6 Sport w/o Nav. MSRP of $39,450.00. Additionally, can you confirm if the $2,000.00 Incentice Cash on VR6 leases still exists. I am currently working with a sales rep quoting me 0.00100 MF and 40% residual on a 36 Month 15K/yr miles
  • mel10021mel10021 Posts: 31
    CarMan

    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 ?
  • psl25201psl25201 Posts: 5
    CarMan,

    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.
  • nhbankernhbanker Posts: 20
    I am looking for the June residual, money factor, and any sales incentives for the CC Sport automatic for both 15,000 miles and 20,000 miles for 36 months. We need to make a decision within 2 weeks, so your help is appreciated!
  • mel10021mel10021 Posts: 31
    Signed a deal yesterday:
    CC Sport
    Auto
    10k / 48mos
    Blue Tooth
    Sirius
    Chrome Tips
    Floor mat / trunk liner kit
    $395 incl tax. Nothing down

    Think its ok
  • gforce11gforce11 Posts: 225
    Never lease a car that's going to be out of warranty before your lease expires. Defeats the purpose of leasing since you will be out of warranty and you will still have 1 yr of payments to go. VWs DO break down and when they do, they are expensive to fix.
  • mel10021mel10021 Posts: 31
    I thought about that. Wanted to lowere my payments but didnt want to put anything down. Has a 5 year power train warranty.
  • juggs44juggs44 Posts: 1
    What's done is done, but the "powertrain warranty" is the biggest bag of junk automakers have come up with in a long time. When was the last time you heard of a car less than 5, or even 7 years old having problems with their powertrain? All these cars are run by computers and that's what will fail. The electronics are the biggest concern.
  • m6userm6user Posts: 3,181
    When was the last time you heard of a car less than 5, or even 7 years old having problems with their powertrain?

    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.
  • nirad1nirad1 Posts: 1
    Hi,

    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
  • I just leased the Lux 4cyl CC w/Nav @ 12k miles, 36 month, 0 down, w/bluetooth. $549, for 35 payments, they picked up the first payment. Leased in NJ There are not many car left in the north east. He got the color we wanted from Long Island. Checked price with two other dealers, same. We like our dealer. The car is great.
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