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2014 Volkswagen GTI Lease Questions

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Comments

  • kyfdxkyfdx Posts: 156,139

    Yes... .the money factors we quote here are for top tier.. That's usually a FICO score of 675-700 and above.. Lower tiers have pretty substantial increases.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • adam_gadam_g Posts: 7

    @[email protected] said:
    Yes... .the money factors we quote here are for top tier.. That's usually a FICO score of 675-700 and above.. Lower tiers have pretty substantial increases.

    Pretty amazing that 675 is considered top tier.

  • platopodplatopod Posts: 18

    The problem I'm having is with the credit tiers. I have a 740 FICO and they said its not enough. I'm young and and never leased before, so they are asking for a co-signor. From what I've looked up VW credit is especially stringent. :(

  • MichaellMichaell ColoradoPosts: 149,887

    @platopod said:
    The problem I'm having is with the credit tiers. I have a 740 FICO and they said its not enough. I'm young and and never leased before, so they are asking for a co-signor. From what I've looked up VW credit is especially stringent. :(

    I don't think it's the number - 740 is certainly high enough. I suspect it's the type of credit you have (and don't have) that are driving VW to this decision.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • platopodplatopod Posts: 18

    You may be right, this is my first time leasing/buying any sort of auto credit. I was able to get the price of the car down to 23.4k (wolfsburg w/dsg) which gives me a great deal but the credit is the issue. Trying to work it out now.

  • synergy77synergy77 Posts: 19

    Looking for numbers on a 13 and 14 GTI in cook county, IL with 15k mileage allowance.
    MF/Residual/any incentives
    13 GTI DE 4d advertised sale price of 26800
    14 GTI DE 4d advertised sale price of 28600
    13 GTI Base 4d Convenience and Sunroof MSRP 30960 Sale price 25704

    Should the capital cost reflect something near the sale price??

    FICO is between 675 – 700

    Trying to figure out the best deal I can get with minimal down and at 300 a month.

    Thanks in advance!

  • MichaellMichaell ColoradoPosts: 149,887

    @synergy77 said:
    Looking for numbers on a 13 and 14 GTI in cook county, IL with 15k mileage allowance.
    MF/Residual/any incentives
    13 GTI DE 4d advertised sale price of 26800
    14 GTI DE 4d advertised sale price of 28600
    13 GTI Base 4d Convenience and Sunroof MSRP 30960 Sale price 25704

    Should the capital cost reflect something near the sale price??

    FICO is between 675 – 700

    Trying to figure out the best deal I can get with minimal down and at 300 a month.

    Thanks in advance!

    A couple of observations .. in Illinois, you will pay sales tax on the entire value of the vehicle for a lease, not just the monthly payment. This substantially increases the payment. There is legislation on the governor's desk to change this, but I haven't yet heard if it's been signed or not. If so, the change is supposed to go into effect on 7/1/14.

    Capital cost should be your lowest negotiated price minus any lease cash available. I would use the Edmunds pricing tools found at the top of the page to determine the invoice price and use that as a starting point.

    You didn't mention a lease term, so I'll assume 36 months.

    For 2014 MY, the MF is .00027 and the residual is 51%. $500 lease cash.

    For 2013 MY, the residual is 45%. I don't see any MF or lease cash numbers, however.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • adam_gadam_g Posts: 7

    @Michaell said:
    A couple of observations .. in Illinois, you will pay sales tax on the entire value of the vehicle >for a lease, not just the monthly payment. This substantially increases the payment. There is >legislation on the governor's desk to change this, but I haven't yet heard if it's been signed or >not. If so, the change is supposed to go into effect on 7/1/14.

    Law was signed last month, goes into effect on vehicles purchased on 7/1/14 and after.

    http://www.ilga.gov/legislation/publicacts/fulltext.asp?Name=098-0628

  • kyfdxkyfdx Posts: 156,139

    That's awesome!

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • ccasey1ccasey1 Posts: 19

    I'm seeing a few 14's at my local dealer (Charles Maund in Austin) being advertised at $3000 off for Memorial Day.

    Can you provide lease figures for 24 and 36 month leases, with 10k/yr?

    Thanks!

  • kyfdxkyfdx Posts: 156,139

    @ccasey1 said:
    I'm seeing a few 14's at my local dealer (Charles Maund in Austin) being advertised at $3000 off for Memorial Day.

    Can you provide lease figures for 24 and 36 month leases, with 10k/yr?

    Thanks!

    .00027 MF. 54% residual for 36mo, 10K/yr. 61% residual for 24mo, 10K/yr. $500 lease cash.

    $3000 off would be a great deal... and, surprising.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • kyfdxkyfdx Posts: 156,139

    @‌ccasey1 I'm seeing over $3K off, advertised at one of my local dealers, as well.. Let us know if you can get that selling price on a lease. It appears the extra money is in lieu of taking the 0.9% financing, so it may be a cash only (or indpendent financing) deal.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • ccasey1ccasey1 Posts: 19

    I visited my local dealer this past weekend and was told that the $3k off was advertised and intended for purchase only, but that they would match it for a lease. The lease payment that they gave me, however, with nothing down for a 3 yr 10k lease was $369-375, and that was higher than I was expecting. Using the Edmunds lease calculator I figured $282/mo; this did not include any fees, as I do not have that info, so my figure was likely low. Even adding ~$900 in fees only got me to about $325/mo.

    So, long story short, I think they'd do it, but I need to see their calculations to be sure of what I'd be getting.

    -Chris

  • kyfdxkyfdx Posts: 156,139

    Yeah... Online, I saw Ourisman VW in Maryland was advertising $5K off! No stick shifts, though... :(

    I stopped at my local dealer and talked to a salesperson. They had one Driver's Edition with stick.. $30,7XX sticker... $3500 off. Just not cheap enough, considering I'd rather have the Wolfsburg Edition and save $60/mo. I calculated that as about $345/mo, plus tax (36mo, 12K/yr), allocating $1000 for acquisition, doc fee and title/license. Just 1st payment and security deposit at signing. (that's me calculating, not them). That's not a bad deal... but, I've got 5 months before I have to have a car, and eating an extra payment for that long? I can wait..

    Wolfsburg Edition at $26,1XX would be around $290/mo.+ tax, under the same scenario... Again, not bad, but timing not right for me...

    If they drop another $2K off, next month, I'll be scouring the planet for a stick.. :D

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • danduranddandurand Posts: 30

    I haven't decided whether to lease another GTI. I don't know how long it will take 2015s to circulate more widely.

    In the meantime, I'm turning in my 2011 GTI in the next day or two. My trade-in value is roughly 16,400 according to Edmunds and Kelly. CarMax offered me 16,000. However, VW credit claims the residual price is only good for me and not another buyer. They quoted a dealer buyout of 16,800. This is the first lease I've had and so I'm not familiar with the turnback process. Is it true I can't cash in any positive equity I have on my lease?

    I could buy it myself but would have to pay taxes and retitle. Don't really want to do that. I realize I should have read the lease terms more closely but does anyone have any advice for me to capture the equity?

  • kyfdxkyfdx Posts: 156,139

    You don't say what the contract residual is on your GTI. How much less is it, than the $16,800 they are quoting CarMax?

    Most lease language is written to protect the bank, not the lessee. Rarely does it guarantee you any rights to equity, etc.. But, a lot of banks don't care, as long as they get their money back. Other banks will try to keep you from realizing any gain at lease end.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • danduranddandurand Posts: 30

    The residual is 14,040.

  • kyfdxkyfdx Posts: 156,139

    Wow... that's a big difference.. Did CarMax request the payoff, or did you do it on your own?

    Also, I wonder if the answer would be different, if you had traded it in a few months early? Maybe, the fact that the lease is paid up, and VW Credit knows what they have, has something to do with it. Not that any of that helps you now.

    At $14K, thats a pretty good deal.. maybe, you should keep it.. ;)

    Waaaaiiittt a minute.. where do you live and is it a stick? LOL

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • danduranddandurand Posts: 30

    I did CarMax on my own. My first lease turn in and I read on Edmunds where any dealer would buy out the lease. So I tried. When I was at CarMax, I had them call VW credit and they quoted a 16,800 buyout. I talked to the VW credit person and they said the 14,000 buyout figure was for me only.

    I could buy it myself, but living in Cook County, IL. I would end up paying 1200 to 1300 in title transfer and taxes so that eats up lots of the profit, unless, I guess, I tried to sell it outright and got lucky with a motivated buyer.

  • kyfdxkyfdx Posts: 156,139

    Yeah.. if you aren't in the car business, it's hard to make money.... you might make a couple of thousand, but you might not. Dealers have the advantage of advertising budgets and being finance providers..

    I do wonder what would have happened if it had been a few months ago, and the last payment hadn't already been made.

    I've traded out of a couple of cars, near the lease-end, but never really showed any profit out of it.... just broke even..

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • danduranddandurand Posts: 30

    I'm buying my wife a non-VW car today. I think I'll just use my lease ending GTI as final leverage and ask them for $500 buyout of lease. That's better than -350 if I turn in at VW dealer.

  • ccasey1ccasey1 Posts: 19

    Are the lease numbers out for 2014s in June? 3 yr 10k/yr, please. Thanks!

  • kyfdxkyfdx Posts: 156,139

    @ccasey1 said:
    Are the lease numbers out for 2014s in June? 3 yr 10k/yr, please. Thanks!

    .00027 MF and 54% residual. $500 lease cash and $1000 dealer GTI sell-down cash.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Hello I am inquiring on whether it would be possible for me to obtain a good lease on a 2014 GTI Wolfsburg Candy White (Stick) I want to know what it would take to only have to pay $200-$250 I live in Jersey if that will help.

  • kyfdxkyfdx Posts: 156,139

    @resilientr said:
    Hello I am inquiring on whether it would be possible for me to obtain a good lease on a 2014 GTI Wolfsburg Candy White (Stick) I want to know what it would take to only have to pay $200-$250 I live in Jersey if that will help.

    The advertised lease is $279/mo. with $2379 due at signing, for 36mo, 12K/yr. Add taxes and registration to that amount. At that price, the dealer has a margin of about $1000. So... to get to $250/mo, you'd have to pay more upfront... or, get the dealer to cut his margin to zero..

    The Wolfsburg is more of a $300/mo. lease.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • danduranddandurand Posts: 30

    Just got a 2014 CSG Wolfsburg DSG. Sticker: $27,225. Purchase: $23,400. Lease: 3/30. 0 down, only first payment. $340 per month. Was one of last 2014 base Wolfsburgs in Chicago area.

  • kyfdxkyfdx Posts: 156,139

    Congrats.... wish I needed a car now, and not in October.. Pretty sure all of the 2014s will be gone by September (stick shifts are already in short supply)

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • eks83eks83 Posts: 2

    A local dealership is advertising discounts for a 2014 GTI Wolfsburg DSG for the following:

    Sale Price: $23490 (original MSRP $27505)

    Lease option: $169/mo with $2999 + tax/title/acquisition fee (36 month/10K)

    When using the lease calculator with all numbers in this thread (0.00027MF and 54% residual, and $1500 incentive/rebates), I get ~$220/mo payments, so this looks like a really good deal. What do you think?

    Does VW allow you to do multiple security deposits instead of a down payment?

    Thanks in advance!

  • kyfdxkyfdx Posts: 156,139

    If you subtract the $2999 from the selling price, it will put the payments down to their number. I can't vouch for the inputs on the lease calculator.

    You'll notice that in their example, you still have to add an acquisition fee. It appears that the $2999 is a downpayment, not the total due at signing. Add all the upfront stuff back in, and this deal looks like about $279/mo. with tax/title and 1st payment upfront. Which is a pretty good deal.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • adam_gadam_g Posts: 7

    @dandurand said:
    Just got a 2014 CSG Wolfsburg DSG. Sticker: $27,225. Purchase: $23,400. Lease: 3/30. 0 down, only first payment. $340 per month. Was one of last 2014 base Wolfsburgs in Chicago area.

    Which dealer was this?

  • adam_gadam_g Posts: 7

    Picked up a 2014 GTI from Haggerty VW on Saturday. Nothing down, 36 months, first payment waived, $320/month. He used tax credits to waive Illinois' draconian lease sales tax, which was much appreciated.

  • MichaellMichaell ColoradoPosts: 149,887

    @adam_g said:
    Picked up a 2014 GTI from Haggerty VW on Saturday. Nothing down, 36 months, first payment waived, $320/month. He used tax credits to waive Illinois' draconian lease sales tax, which was much appreciated.

    Seems like a good deal! What was the MSRP and how long is the lease term and how many miles per year?

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • adam_gadam_g Posts: 7

    @Michaell said:

    Thanks! 3 year term, 10,000 miles per year. I don't have the contract in front of me but I believe MSRP was ~$27,200 and that was negotiated down to $23,500 or thereabouts.

    Finance guy was pretty cool. He said that competition is so stiff right now that they are even eating into their holdbacks ($500-700 per car) to move cars. So basically, if they sell you a car for $700 under invoice, they're basically making nothing on the sale. But the money kicks in from VW corporate in the form of incentives earned once you hit certain sales targets, so it's in their interest to move them out the door. Besides that, their money is in used cars and service.

  • MichaellMichaell ColoradoPosts: 149,887

    @adam_g said:
    Finance guy was pretty cool. He said that competition is so stiff right now that they are even eating into their holdbacks ($500-700 per car) to move cars. So basically, if they sell you a car for $700 under invoice, they're basically making nothing on the sale. But the money kicks in from VW corporate in the form of incentives earned once you hit certain sales targets, so it's in their interest to move them out the door. Besides that, their money is in used cars and service.

    Nice deal! Thanks for the details.

    If you want a 2014 GTI, it looks like now is the time.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • glayfan40glayfan40 Posts: 33

    Just took delivery of my leased 2014 Wolfsburg DSG w/ MSRP of $27,285 on 7/1/14. ~$4200 off, 36mo/10K, with 1st payment down (all other fees which totaled $1150 rolled in), $292 a month tax (6.25%) included.

    I actually traded in my 2013 MB GLK250 w/ just under 10k miles (yes, I do have a sickness), which carried a negative equity of $2940 (owed $37,940, dealer offered $35,000, KBB valued it at $33,500 for trade-in). So my monthly payment is actually $380 tax included.

    2 weeks in and 1700 miles later (made a round trip to Toronto from Boston July 4th weekend) I can say I don't really miss the luxury on the MB one bit.

  • MichaellMichaell ColoradoPosts: 149,887

    @glayfan40 said:
    Just took delivery of my leased 2014 Wolfsburg DSG w/ MSRP of $27,285 on 7/1/14. ~$4200 off, 36mo/10K, with 1st payment down (all other fees which totaled $1150 rolled in), $292 a month tax (6.25%) included.

    I actually traded in my 2013 MB GLK250 w/ just under 10k miles (yes, I do have a sickness), which carried a negative equity of $2940 (owed $37,940, dealer offered $35,000, KBB valued it at $33,500 for trade-in). So my monthly payment is actually $380 tax included.

    2 weeks in and 1700 miles later (made a round trip to Toronto from Boston July 4th weekend) I can say I don't really miss the luxury on the MB one bit.

    Congrats on the purchase ... and, there is help here at Edmunds for your "sickness":

    http://forums.edmunds.com/discussion/4011/general/x/chronic-car-buyers-anonymous#latest

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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  • glayfan40glayfan40 Posts: 33

    Haha, yes I'm aware of that thread and do sometimes visit although never posted anything.

  • MichaellMichaell ColoradoPosts: 149,887

    @glayfan40 said:
    Haha, yes I'm aware of that thread and do sometimes visit although never posted anything.

    You should - we could use some new blood.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • amin7raamin7ra Posts: 11

    Hi @Michaell could I get the August MF and residual in Florida for a 12k mile/36 month lease for a 2014 VW GTI 4 door Wolfsburg DSG.

    As always, thanks for your help.

  • MichaellMichaell ColoradoPosts: 149,887

    @amin7ra said:
    Hi Michaell could I get the August MF and residual in Florida for a 12k mile/36 month lease for a 2014 VW GTI 4 door Wolfsburg DSG.

    As always, thanks for your help.

    .00022 and 52%.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Hello, would you be so kind to tell me the number for a 2014 VW GTI Drivers edition and Wolfsburg edition, 36 month and 10k miles per year

    thanks
  • kyfdxkyfdx Posts: 156,139

    Hello, would you be so kind to tell me the number for a 2014 VW GTI Drivers edition and Wolfsburg edition, 36 month and 10k miles per year

    thanks


    All 2014 GTI: .00011 MF and 52% residual. $1500 lease cash.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Jase23Jase23 Posts: 6
    If any 2014 GTI can be found does anyone know the current MF and Residual? Are they the same as above .00011 MF and 52 percent. Is there still 1500 lease cash?

    Thanks
    Jase
  • MichaellMichaell ColoradoPosts: 149,887
    Jase23 said:

    If any 2014 GTI can be found does anyone know the current MF and Residual? Are they the same as above .00011 MF and 52 percent. Is there still 1500 lease cash?

    Thanks
    Jase

    The VW numbers expired on 1/2/15; we should hopefully have the new numbers next week.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Jase23Jase23 Posts: 6
    edited January 2015
    I see the new 2015 gti lease numbers are posted. Any word on the 2014? Looking in the NYC area.

    Thanks
    Jay
  • kyfdxkyfdx Posts: 156,139
    Jase23 said:

    I see the new 2015 gti lease numbers are posted. Any word on the 2014? Looking in the NYC area.

    Thanks
    Jay


    .00163 MF and 55% residual for 36mo, 15K/yr

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Jase23Jase23 Posts: 6
    Do you know the residual for
    10k-?
    12k-?

    Residuals can change that much from month to month. 52% last month to 55% this month? Not that I'm complaining.

    So the money factor really jumped from last month, .00011 to .00163?
    Any idea if they are still offering 1500 cash back? or was that a promotion for prior months?


    Really appreciate your help Kyfdx

    Jay
  • MichaellMichaell ColoradoPosts: 149,887
    Jase23 said:

    Do you know the residual for
    10k-?
    12k-?

    Residuals can change that much from month to month. 52% last month to 55% this month? Not that I'm complaining.

    So the money factor really jumped from last month, .00011 to .00163?
    Any idea if they are still offering 1500 cash back? or was that a promotion for prior months?


    Really appreciate your help Kyfdx

    Jay

    Add 2% to the residual for 12K, 3% for 10K

    I suspect there aren't many 2014's left, so VW doesn't have much incentive to move them. 2015 MF came down a bit for January to help move inventory.

    The increase in residual probably means that the overall deal is about the same, given the increase in the MF.

    Don't have any information on current incentives.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • PF_FlyerPF_Flyer Pennsylvania Furnace, PAPosts: 9,403
    For current leasing information, go to 2015 Volkswagen GTI Lease Questions
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