Lease Questions - Ask Here

icdchess · April 2001

If the lease is $700, I will get my wife an S-type as well. I have just been quoted for a $47,000 3.0 S-Type with Power/Memory/Weather Packages a price of $519 with taxes up front for 39 months.

Plus because I was at the car show, they pick up the first month's payment for free. The dealer told me the money factor is .0011 (which is great) and the residual appears to be about 49% (not so great).

The Lexus dealer from whom I leased my wife's soon to be up GS 300 can't seem to come close nor does it appear that the Audi is in the ballpark. They are two cars that we are considering as well.

This would make us a two S-Type family but I love my 4.0 S-Type and I created the Jagtalk.com board because of it, and I feel obligated to lease a Jaguar. Boy, I get stranger all the time.

Steve

CarMan@Edmunds · April 2001

Tdono, a blanket statement like "Bottom line if you have to lease you cannot afford the car." is absolutely not correct. Many manufacturers provide subsidized leases (without equivalent amounts of cash support) that make leasing a more financially sound decision than actually purchasing with cash. Whether or not it is a good idea to lease depends upon your personal driving habits, how often you want a new vehicle, and the specific deals that manufacturers are offering on the vehicle that you are interested in at the time that you are in the market for it. Still, this is a discussion for a different topic. There is a very active lease vs. purchase discussion going on over on the Smart Shoppers Board. Please feel free to go over there and add your two cents. Thanks.

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CarMan@Edmunds · April 2001

Expedition2, tax laws really aren't my strong suit. It is difficult to say why different states have different tax rates. Some states, like Texas have such backwards tax laws that leasing is extremely expensive and often replaced with balloon notes. Nine percent certainly is a pretty hefty tax rate, I feel for you. Unfortunately, consumers must always pay their home states' tax rate so there really isn't any way for you to get out of paying it if you want to lease.

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shaker58 · April 2001

Does the 595 pretax on the 39mths on the audi A6 2.7 include aquistion fees in payment?
If it does then I have some work to do otherwise my price seems good
596.97 month pre taxes plus 1st month bank fee and security plus plates(1898.00+taxes)
Also if I pay taxes upfront and the car is stolen do I loss that money or is it refunded

CarMan@Edmunds · April 2001

You're welcome, shaker58. No, I did not roll the acquisition fee into the vehicle's capitalized cost. If you decide to do so, the payment would be slightly higher than the one that I posted. The quote that you received certainly looks reasonable to me.

If you pay all of the tax on your car in advance, I do not believe that you will ever see any of that money again if your vehicle is stolen and not recovered or totaled in an accident.

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icdchess · April 2001

Whenever I shop for a car, I have to try to find out the car's residual value.
Is there one internet source (URL) where I can see ALL the various residual %s
for all the models?
Thanks!!
Steve

CarMan@Edmunds · April 2001

Hi Steve. The Web site for a company called Automotive Lease Guide, www.alg.com, is a great place to look for residual value data. ALG is considered to be the source for residual value information in the automotive industry. In fact, many banks base their residual values off of ALG's. Generally speaking through the actual residual values that are used by banks to calculate monthly lease payments may vary slightly from the ones that are published by ALG, but at least they will give you a good idea of what to expect. In the past they have allowed the general public to have free access to the current residuals for every vehicle that is sold in the U.S. However, they recently limited the free access of residual values to those that are a month or two old and charge something like $10 a quarter for access to the most current data.

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petdoc1 · April 2001

I just started shopping for a 2002 TL Type S and am wondering what would be a good lease payment on 36 or 39 months with 15,000 miles per year. I went to www.alg.com but that site didn't have 2002 Acura information yet. Can you please provide me with approximate payments with $0 down (other than fees, security deposit and first month) and also if I put $2500 down. Thanks for your help on this!

shaker58 · April 2001

my dealer from bmw called me with a better deal so just want to run it by you

530ia prem/sport cold package and cd player in dash 12miles a yr

699.95 (1st month and bankfee at signing)
no security since I have bmw now

basically its 670 for the audi A6 2.7
but 39 months instead of 36 for the bmw

tgif888 · April 2001

First you can go to www.eacura.com This site will let you configure your car and see what's your payment will be.

Or you can go to www.acura-tl.com and look under the Type S dicussion. You can see people post the lease deal there. You just need to go through some messages though.

busik · April 2001

Car_Man:

Can you post the money factor and residuals (39 month lease figures w/15k miles a year) for 2001 Honda CR-V EX 4WD automatic SUV. The TMV is around $20K. Also, does the special AHFC low-APR financing that Honda is currently offering apply to leases also?

Thanks!

robair1 · April 2001

I'M RESPONDING TO THE LEASE REMARKS YOU MADE,THERE ARE TAX BENEFITS ON A LEASE,MATTER OF FACT MUCH BETTER THAN A PURCHASE,ONLY 1 STIP.,YOU HAVE TO LEASE THE VEHICLE IN A BUISNESS OR CORPORATION.ASK YOUR CPA,IF YOU USE ONE, HE'LL TELL YOU THE SAME THING.I'M JUST TRYING TO BE HELPFUL!

brian125 · April 2001

hi rm just looking for sum insight.one ford dealer quoted me 400. over invoice for a 3yr lease do the dealers get a 3 percent hold back on leased cars. if so should i be shooting for invoice or a little higher for the explorer.i was told the money factor was 3.75 how can i break that down? and what does the money factor pan out to thanks rm brian 125

infinitimn · April 2001

Pardon me for jumping in Carman. The 699 quoted by shaker58's dealer sounds high. I picked up my 530ia at the end of March, sticker price of $47,460 with a 36m/10K yr lease at $679, including 6% sales tax. This works out to $1600 over invoice. Based on the options you listed yours is $46,420. I was also a repeat BMW customer so no security deposit only up front fees. I heard the money factors are lower now( someone mentioned a .00030 rate one of these boards.) My dealer was willing (he said) to go below his usual margin because I was a repeat customer, and because I knew how to run the numbers.
I love this car in comparison to my 528 and Q45, so keep negotiating and good luck.

jackdia · April 2001

Carman: I am thinking about leasing a Jeep Grand Cherokee Ltd. It has most options, MSRP is 37,100. Could you pls provide the residual and money factor for 30 and 36 mos leases? 15,000/yr. Also, the Jeep salesman mentioned that Jeep is offering a $3,000 incentive on leases thru the end of the month. How is that figuired in calculating the lease?

Could you also provide the residual and money factor numbers for the Lexus RX 300 for 30 and 36 mos.15,000/yr. Do you know if Lexus is offering any incentives?

Thanks for your help.

kwhite6531 · April 2001

I just made the last payment on my truck lease on April 13th. I must return my Blazer on or before May 12th. On Saturday (yesterday), I went to a dealership where a friend of mine works and turned in my truck and leased a new blazer (though I was planning to only look, not buy). To make a long story short, today as I was looking over my lease agreement, I realized that since I had to put down the first months payment, I had made TWO car payments in April...which is crazy! I just assumed that since my old lease does not end until May 12th, that the down payment on the new lease would be for the month May. So, I'm planning to take it back tomorrow on Monday and either return it and wait until my old lease is up, or see if they can work a deal with me. Can I return the vehicle? Is there a 3 day grace period where if you change your mind, or don't like the vehicle you can return it? I was told by others that there is something like this, but I didn't see it in my lease contract. I have GMAC Smartlease. Also, a few other things that did not feel right to me is they made me pay taxes on rebates. Are there really taxes on car rebates or was I scammed? And another thing, as I look through the Sunday paper today, I see the same Blazer that I leased advertised for alot less than what I bought it at. I know I probably should have looked around more, but I figured that since the sales guy at this particular dealership was a friend he would give me a better deal. I don't think he did. My new lease payments were $90 more than my previous lease. But, I went from a Blazer LS 2-D 4WD, to a Blazer LS 2D, 4WD, ZR2 (wide-stance suspension). Any advice on returning the truck and on the rebates an price?

CarMan@Edmunds · April 2001

You're welcome, shaker58. As far as the payment quote that you received on the BMW goes, I think that $700/month with $2,500 down actually sounds a little on the steep side for this car. Right now, BMW is advertising a lease on the 530i(Capitalized Cost: $36,180) for $507 per month with $2,500 down for 36 months and with 10,000 miles per year. Of course, the car that you are interested in may have more equipment than the advertised one and you are getting 12,000 miles per year instead of 10,000, but I still think that it would be in your best interest to call around and get a few quotes on similar cars from other dealerships in your area.

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CarMan@Edmunds · April 2001

Hi busik. Even though Honda just introduced special financing rates on the CR-V for the first time in its history, they still do not have any sort of lease support on this particular truck. So, if you decide to lease a 2001 CR-V EX 4WD through American Honda Finance Corp. for 39 months and with 15,000 miles per year you would have to use their standard lease money factor of .00305 and a residual value of 57%.

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CarMan@Edmunds · April 2001

Hi Brian125. Yes, dealerships do receive dealer holdback on all of the new vehicles that they deliver, regardless of whether they are bought with cash, financed, or leased. Having said that, $400 over invoice is a very solid offer for this truck and I highly doubt that the dealership will dip into their holdback to sell you one. The person who you spoke with was correct when they told you that Ford Motor Credit is providing a 36 month lease rate of 3.75% on the 2002 Explorer right now. For the purposes of calculating monthly lease payments, a lease interest rate of 3.75% is approximately equivalent to a lease money factor of .00156.

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CarMan@Edmunds · April 2001

Hi jackdia. I would be happy to help you out. Just so you aren't shocked by their high lease money factors, let me preface their information by telling you that they have for the most part replaced the supported money factors that they have offered in the past with lease cash. Right now DaimlerChrysler is offering consumers $3,000 Lease Cash on all 2001 Jeep Grand Cherokee models in most areas. An additional $1,000 Lease Cash ($4,000 total) is available in CA, CT, FL, HI, KY, IN, MA, ME, MI, NH, NJ, NY, OH, PA, RI, VT, & certain parts of DE, WV, and the Detroit area. This lease cash should be deducted from whatever price you are able to negotiate on this truck. It would be subtracted from its capitalized cost, much like a down payment would be.

OK now for the money factors and residuals. If you decide to lease a 2001 Jeep Grand Cherokee Limited through Chrysler Financial right now for 30 or 36 months with 15,000 miles per year in most areas the money factors should be .00385 and .00335 respectively. The corresponding residual values would be 44% and 42% respectively for 4WD models.

Lexus is not offering any sort of incentives, cash or lease, that I am aware of on the 2001 RX 300 right now. So if you decide to lease a base 2001 RX 300 4WD through Lexus Financial Services right now the 30 and 36 month lease money factors should both be .00300 and the residual values should be 59% and 58% respectively.

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mpk214 · April 2001

I am thinking of leasing an oldsmobile aurora and i was wondering if dealers will deal on this vehicle given that it will no longer be manufactured. also, when you lease a vehicle, who if anyone gets the factory "rebate"... currently on the aurora i believe it is $2000.

thanks mike in dallas

s852 · April 2001

I want to get an idea on what payments should be for a 2001 ES300 Base model with the Lexus Value Package and no other additional options other than heated seats.
I am looking for 15,000 miles allowance per year and no cap reduction.

I went to the Carsdirect.com web site and after entering my local zip code, it priced out to a purchase price of $30,983 plus taxes ($200 over invoice).

FYI: Out of curiosity, I also entered a So. Calif zip code of 90210 and they were actually available there for below invoice.

Using the above price quoted in my local area, the site automatic configurator quoted an "estimated," payment with the above terms of $587.32 including taxes.
Sales tax is 7.5%. Aqusistion fee is $595.00. No security deposit. State is California. Amount due at delivery with zero cap reduction amount is estimated to be about $1,159.03.
The residual is $17572.05 and the excess mileage charge is 15 cents per mile.
This price includes a dealer incentive that is supposed to end on April 30,2001, but I would think that a new and perhaps even more aggressive dealer incentive may be available nearer to the end of the year in preparation for the 2002 models.
How does that deal sound? I think the $17572.05 residual sounds low and maybe I should be able to do better shopping around.

I am quite aware that there is a all-new and improved 2002 model coming this fall, but without discounting, it might be MUCH more expensive even without an increase in MSRP.
I am tempted to wait until fall to see the 2002 model because maybe higher residuals on the 2002 might make a lease cost/payments similar to a lease on a 2001.
On the other hand, if I wait until 2002s are available, there may not be much selection of 2001s left and I may end up not having much choice of colors and options on the 2001 leftovers.

shaker58 · April 2001

hi carman the 700 has no money down not 2500 down
also has 12000 miles and tax rate is 8.5%.deal is for 36 months it looks good to me just want to make sure.I just need first month and bank fee

ryshan · April 2001

Car Man: you answered a question for me a few weeks ago on the Impala LS. Thank you again. One more for you.
I am looking at a 2001 Bonneville SSEi. It is a demo, with aprox 5,000 miles on it.
Could you give me the money factor and residual for 30 and 36 mos at 15,000 a yr? Does the fact that it is a demo affect the lease, other than the fact that I should be able to negotiate a lower sales price? Thanks

CarMan@Edmunds · April 2001

Hi Mike. There certainly are deals to be had on the Oldsmobiles at this point. However, I think that many people are disappointed when shopping for Oldsmobiles that the discounts on them are not as large as they had expected them to be. Remember, General Motors is just getting rid of a brand. It's not as if Olds is an independent company that is going out of business, which might merit much larger discounts. GM will still be around to back up its products.

GM's Consumer Cash incentives are typically not compatible with their supported lease program. In lieu of Consumer Cash they sometimes have Lease Cash that may be used on supported leases, but there is not any Lease Cash available on the 2001 Aurora right now. If you decide to lease an Aurora at this point, you will be eligible for their supported lease rates and residual values, but no cash.

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CarMan@Edmunds · April 2001

Thanks for the additional information, shaker58. The lease payment sounds much more reasonable when you take the additional mileage, tax, and lower down payment into account.

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CarMan@Edmunds · April 2001

Hi again ryshan. I would be more than happy to help you our with information on another lease. As long as the car that you are looking at has not been titled and is still considered by GM to be a "new" car, I believe that it should be eligible for GMAC's new car lease rates and residual values. If you were to lease a 2001 Bonneville SSEi through GMAC right now you would be eligible for a lease rate of 3.6% for both 30 and 36 month terms. The supported 15,000 miles per year residual values for this car should be 50% and 47% respectively.

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KCRam · April 2001

hi kwhite6531

Unfortunately, that new Blazer is indeed yours. Generally, the "three day grace period" applies to unsolicited sales, such as a door to door salesman coming to your home to sell you a product. Buying a car is a voluntary sale, meaning you have to go to a retailer on your own.

As far as you making 2 payments this month, you did relinquish your older Blazer. That ends the contract, since the payments have been satisfied. Even though you were entitled to drive it until May 12, you can not receive a refund or pro-rate discount for the amount of time in those last 30 days you did not "use". The dates do not run concurrently; your old lease is over, and your new lease is a separate unrelated contract.

Seeing your Blazer for a lower price in an ad will always cause some remorseful feelings, especially on what seems to be an impulse move on your part to get the new Blazer when you hadn't planned to. With the truck in your driveway and the signatures on the contracts, your best bet is to live with the new Blazer, and be more patient the next time you go shopping.

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ctorrey · April 2001

Carman,

Once again, thanks for all of your past help. Your advice has been helpful in my past dealings with my local Audi dealer. I am about a month away from taking delivery of my new A6 4.2 and I was hoping to get another "reality check" on current lease rates.

I suspect my dealer is trying to make a couple bucks off me by inflating the MF on my lease. As of 2/15/01, I was quoted a 56% residual and a .0032 MF on a 36 month, 12k lease. I believe the financial institution was CitiBank (I could be wrong, but I do know that it wasn't the captive fin. co.). Based on what I have seen/heard, the MF should be more like .0029 - .0030.

I'd like to get your thoughts and insights on this situation. Would a 39 month lease be worth exploring for this vehicle? Also, I noticed that BMW NA has been touting '01 740i for $799/mo over 36 months with a $3,500 cap cost reduction in the Boston area. Since the MSRP is quoted at ~ $63k, I imagine they are offering tremendous incentives on this vehicle - it is the last year of the current model. Do you have any additional info on this?

Thanks Again!

kwhite6531 · April 2001

kcram,

Thanks for your comments. Just wanted to let you know that the dealership ended up working out a great deal with me! They set up my payments to begin in May instead of April (YEAH!)...they absorbed the down payment and even waived the rebate taxes! Of course, it was not as easy as I may be making it sound...they did kinda "hassle" me in the beginning and told me that returning the new truck and getting back my old truck was NOT an option, and That I was bound to the lease. But, once I explained to them my dilemma with the payment schedule and that I really did not want to return the new truck, they were more flexible with me. I think they thought I just wanted to return the truck because I decided that I didn't want it...NOT!..I love my new truck! Anyway, I'm just glad that they were able to work with me. The fact that they renegotiated my contract with me, showed me that they really value there customers...they have customer for life!

icdchess · April 2001

I did a seach through your posts here for the Saab 9-3 and you mentioned
that Saab was offering $2000 lease cash to the dealers. I found one dealer
that was willing to part with some of that cash to make the deal with me.

The price I agreed to was about $30 less a month than 4 other dealers. It appears
as if the others were all pocketing the rebate.

The final results: MSRP: $44,165 , $536 per month x 36. Only taxes and 1st
payment up front. Money factor .00132. 50% residual. (sales tax on rebate included
and luxury tax included in the payment).

It looks like even my dealer choose to keep a part of the rebate himself.

Thanks again, Car_Man. This is a great service. You are welcome to visit a
group that I started called Jagtalk.com It is a place (now over 1200 members)
where we discuss new generation Jaguars. http://www.Jagtalk.com I have already spoken very highly of you there so ypou may see some more Jag
questions on the way.

Steve

bmwbuyer · April 2001

Car Man,

My current lease is up in a few weeks and I am planning on leasing again. My income level has increased since I signed my last lease and I want to know how I can figure out what kind of payments I can afford? If you have any advice on the subject, that would be great. Thanks.

s852 · April 2001

Car Man,

I did not specificaly address you in the origional post, but since no one else made any comment, can you?

See post 873

CarMan@Edmunds · April 2001

Hi again ctorrey. I am glad to see that you are still around. As I have mentioned in the past, I don't keep track of all of the lease programs that non-captive finance companies are running on vehicles, but let's take a look at this month's Audi Financial program for the sake of comparison. Through the end of this month, Audi is offering a supported lease money factor of .00235 for both 36 and 39 month terms on the 2001 A6 2.7T. Their 12,000 miles per year residual values for this car are 58% for 36 months and 57% for 39 months. The Audi Financial program clearly looks better to me than whatever bank's program you were quoted last month. I would probably lease through them if I was in your situation.

I am familiar with the nationally advertised BMW 7-Series lease that you mentioned. Yes, there is a decent amount of support on this car. In addition to supported lease money factors that are equivalent to an interest rate of slightly over 6.2% they also have $2,500 Dealer Cash on this car that may be combined with their supported lease rates.

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CarMan@Edmunds · April 2001

Congratulations on your new Saab, Steve. I am glad that I was able to help you out. Also, thanks for the invitation and the additional publicity. I am always glad to see new Town Hall members. Enjoy your new ride!

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CarMan@Edmunds · April 2001

Hi bmwbuyer. Edmunds.com just introduced a new feature to our site that I think would be a big help for you in trying to figure out how much money to spend on your next vehicle. This new feature is called the Edmunds.com Affordability Calculator. By anonymously answering a few simple questions and plugging numbers into this calculator, you will be able to find out how much the experts here at Edmunds believe you should spend on your next vehicle. Please feel free to use the following link to go to the aforementioned section of this site: Edmunds.com Affordability Calculator. Thanks.

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CarMan@Edmunds · April 2001

Hi s852. I would be happy to try to answer the questions that you posted earlier. If you were to lease a 2001 ES 300 Base model with the Lexus Value Package and no other additional options other than heated seats (MSRP $34,455) for $1,000 over invoice ($30,390 Invoice + $1,000 = $31,390 Capitalized Cost) through Lexus Financial Services for 36 months and with 15,000 miles per year your approximate zero down pre-tax monthly lease payments should be $455 per month. The acquisition fee that you are charged will vary from bank to bank, but the last that I heard, Lexus Financial was charging one of $450. I definitely think that it is in your best interest to lease through them so that you are able to take advantage of the supported lease money factors that Lexus is offering on this car right now.

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s852 · April 2001

Wow! $ 455 plus sales tax per month for ***36*** months plus tax with 15K miles per year and zero cap redux sounds great. I really hope that is available for 36 month terms.
I'll need to check that out with Lexus Financial. That should be well under $500 per month even after taxes! Super cheap.
At that price I might be able splurge and get a Coach or Nakamichi package for a few dollars more per month.

Are these terms offered nationwide and are they expiring on April 30th?

Thanks!!

ctorrey · April 2001

CarMan,

Great info on both Audi Financial & BMW 7-series. Thanks again! One quick clarification... In your response you described lease figures for the A6 2.7T. Are the figures applicable for the 4.2 as well?

Thank you!

akangl · April 2001

I leased a 2001 VW Jetta GLS 1.8T in February of this year for 48 months with 10,000 miles per year. I knew when I leased the car (I needed out of a minivan ASAP since I couldn't afford the payment anymore) I would go way over the allowed miles, the car is almost 3 months old right now and has 6200 miles on it.
Anyway, I was thinking about trading it in on an older SUV but with gas prices so high I decided against it. The Jetta is very reliable and I have decided I want to keep the car.
Now, my question......should I end the lease now and refinance the car as a purchase or wait until the end of the lease. The money factor is high (.0049), the payment is $395, and the residual is $10,533. I figure I can put some money down and refinance about $16,500 on the car so the payment won't be much different, the payoff on the car is $21,000 right now. What's the smart thing to do?

cuddles2 · April 2001

\
Hi my question is,

I'm in the process of leasing a Honda Accord v6
with the whole works.. Asking price is $394 a month for two years. Is this a good deal??
I also wanted to see if the Nissan Maxima is a comparable car tho the Honda? The Maxima is a little more expensive for some reason? I'm asking to see what is a good leasing price for the Honda Accord with $1000 down and leasing it for (2) years! please give me an answer as soon as possible as I am currently in negotiation!
J O

tgif888 · April 2001

What is the residual value of your vehicle? Does that $1000 include security deposit? And what is the selling price of your vehicle? If you can provide this info., it will help to decide did you get a good deal or not.

timchar99 · April 2001

Do you know much about these companies? I have a lease that ends in November, but would like to go ahead and get rid of my car sooner to find something less expensive. From what I understand, these companies buy cars from other dealers or from people who end their leases, and then resell or lease the cars to people. Other than making sure the warranty is still valid, are there any other things I need to watch out for? If you need information about my specific case, let me know and I can send you my residual value, payment amount, etc. Thanks.

danog · April 2001

I too would like to know what options might be available on an early lease termination. My lease is up in October on a 45,000 mile lease. I am at 44,500+ so I will definitely go over and have the .15 cent/mile penalty. Aside from selling the vehicle for the payoff, what about trading in on another deal?

s852 · April 2001

You can always trade-in now or later and have them roll the early termination penalties or mileage fees into the cost of the new lease. This will allow you to finance the added cost instead of paying cash.

curtnheidi · April 2001

try www.swapalease.com

it is a great service, and it may save you money in the long run.

Curt

s852 · April 2001

Heh. I checked out the site and found one car.
Search for vehicle ID 935. So sad.

How do people get stuck in leases like that? What was that person thinking when they agreed to those terms?

CarMan@Edmunds · April 2001

Yes, s852, the Lexus Financial supported lease program on the 2001 ES 300 is only scheduled to run through April 30th. It is difficult to say for certain what they will do with the rates on this car after that date. I would be surprised if the support on this car completely disappeared. The most likely scenario is that they will introduce a new program for May that is very similar to the one that exists right now, but again one never knows for certain until they make the official announcement.

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CarMan@Edmunds · April 2001

You're welcome for the information, ctorrey. I am not sure why I thought that you were talking about the 2.7T, sorry about that. The Audi Financial lease money factors for the 2001 A6 4.2L are actually slightly higher than the ones that I posted for you earlier. If you decide to lease a 4.2L for 36 or 39 months prior to the end of April, you would have to use a lease money factor of .00280 and 12,000 miles per year residual values of 57% and 56% respectively. As you can see, the 2.7T's lease program is slightly more aggressive. If I was in the market for a new A6, this is probably the model that I would go with. I've seen the 0 - 60 times and if I am not mistaken I believe that the 2.7L is at least as fast, if not faster than the 4.2L. I personally don't think that the 4.2L engine is worth extra several thousand dollars and having to use the worse lease program.

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CarMan@Edmunds · April 2001

Hello akangl. I am sorry to say that you have gotten yourself into a bad situation. As you are well aware, you certainly are going to go way over your mileage limit on this car. Let me begin by saying that in my opinion the last thing that you should do is get a new vehicle at this point. Every time you break a lease this early you are almost guaranteed to be extremely upside down. If you try to get out of your VW it is going to end up costing you a lot of money. If I was in your sitution I would keep the Jetta and look into how much money it would cost to buy it out at this point. Since you are likely going to have to buy this car at lease-end to avoid the huge excessess mileage penalty that you would have to pay, you might as well call your bank (perhaps VW Credit) and find out how much money it would cost you to just buy it now. Once you have the buy out price, shop around at a couple of banks to see what sort of interest rate you are eligible for. In general rates are very low right now. I don't know what your credit rating is like, but if it is decent you certainly should be able to beat the 11.75% that you are paying to lease this car.

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