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2013 and earlier Volkswagen Passat Prices Paid and Buying Experience

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  • ronald15ronald15 Member Posts: 21
    Looking to purchase a 2001'5 Passat. Dealer quotes $19,999 for a GLS with automatic and monsson audio system (list $23,700). Says 2002 will be higher? Question: Is this a good enough price to purchses now or should I wait till the 2002 is available with the longer warrenty. Might consider leasing also. What is the current residuals and money factors?
  • NovemberNovember Member Posts: 21
    Re the Masterguard--There is a number, which I called, but they won't give you any pricing or real info. I was told they only work directly with manufacturer/dealer not private consumers. To get a price, they say call your dealer. I've had one dealer tell me $600-700 to extend warranty to end of 39-month lease, which I think is ridiculous. Two other salespeople at the dealers told me to call the finance department because they handle the warranties. I didn't like that answer at all.
  • NovemberNovember Member Posts: 21
    That price is better than the best price I've been quoted. I've been told $21,581 for an auto, but no monsoon. Also can't get a color I want.

    The residual on a 39-month lease is .57 and the money factor is .00235.
  • zarinzarin Member Posts: 6
    What I will get: 02 variant glx tip plus 6-cd changer.

    What I will pay: $800 over invoice.

    -
    zarin

    PS: I live in Boston area, where 10 VW dealers compete against each other. Also, I had pretty good negotiation.;-)
  • zarinzarin Member Posts: 6
    What I will get: 02 variant glx tip plus 6-cd changer.

    What I will pay: $800 over invoice.

    -
    zarin

    PS: I live in Boston area, where 10 VW dealers compete against each other. Also, I had pretty good negotiation.;-)
  • cliffybcliffyb Member Posts: 114
    I guess I made the assumption that he was not carrying a huge amount of debt, especially for someone making 70k per year. Thats what I get for assuming. What I meant was that if he had a few thousand dollars on credit cards like most of us do, that was not keeping him from having 700+ credit score. If he does owe a great deal on revolving credit, then he should not be buying a new car, much less co-signing one for his girlfriend.

    clsclfm-About the student loans...debt is debt. It is sometimes a neccessary evil in life but should not be treated differently thean any other debt. I paid for college as I went, but my current job requires that I drive a nice car. Should my car not count as debt because it is needed for me to make a good living?
  • im_brentwoodim_brentwood Member Posts: 4,883
    The fact that you carry credit card balances does not hurt your score.

    Yes it does. What hurts your score is either:

    1) Enormous amountsof debt.

    2) MAXED out credit cards. I.E. I have 2 credit cards that probably have balances on them at the moment. One is a Texaco Card which I doubt has more than $500 as a limit. I know I must have over $400 on it at the moment, because of some recent trips, its' maxed out or very nearly. The other is a Platinum VISA with a terrifyingly huge limit which I will never evenget close to, like $50,000 or something absurd like that. I have $4K or so on it.

    The Texaco Card looks worse on my bureau than the VISA because the Texaco card is basically hammered out (Which looks bad) and the Visa is at probably 8% of available.

    Its' like saying its' better to owe $50,000 on a 2001 Bentley than $5,000 on a 1990 Maxima.

    No, I don't think its' logical either.....

    Bill
  • familyofthreefamilyofthree Member Posts: 3
    who did you end up buying from, and when do you expect delivery? i'm looking around for a variant in the same region, and yours sounds like a pretty good deal...
  • cliffybcliffyb Member Posts: 114
    Seems to me that as long as you keep paying the minimum balance on time it is pretty hard to max one out because they always make sure to raise your limit before you get there.

    Again, what I really meant was that owing some money on his credit cards would not keep the guy from having 700+ credit. Obviously owing A TON of money or having maxed out credit cards that you missed payments on would. I guess I am too conservative with my finances to have seen the down side of my cards.

    What I really hope that XWEB takes from my message is that he should not finance his girlfriends car.
  • zarinzarin Member Posts: 6
    "familyofthree" fits my family well, too.:) I have contacted with three out of ten possible dealers in Boston area. Boston VW (Allston) and Brookline VW (Rt 9 in Brookline) were pretty competitive with price. I went with the latter.

    About delivery, Boston said it comes in two weeks (they sounded confident) and Brookline just said it's before Sept 1 (which can be two weeks too).

    Good luck with your order.

    If you have questions, email me at zaringobi@yahoo.com:)

    zarin
  • im_brentwoodim_brentwood Member Posts: 4,883
    Very true. But credit scores are kinda wacky...

    My father probably has 10K floating on his credit cards as we speak and his beacon is a 790 (I pulled it for him quite recently). Its' a lot more than just that of course :)

    But I've seen beacon scores hovering around 600 (Tier 4/Subprime territory) where you see nothing but perfect payment history, never a single late..etc... But you see $30-40K+ (And I've seen over $150K.. talk about terrifying) in revolving balances.

    Although a lot of lenders are getting away from beacon scores. I've seen people with 640s with a recent repo that no "Bank" would touch, and I've gotten people with 625s into Jaguar Leases (Guy had an open lease on his car, wife's car, daughter's car, aircraft loan, Boat loan, and also had an antique car financed for $60K whch was a Concours XK150. Also mortgage for his house in NJ, shore house in NJ and Condo in FL) Jaguar credit used to have one tier: 1, so that took some work. Well, he also made $175K a month plus bonuses :)

    And then there was the 20yr old Girl with a Macy's card, $500 limit VISA and I think a JC Penny card. 725 Beacon.

    Take the guy with the 640 and the guy with the 625... Who would YOU loan money to? :)

    And no, XWEB should certainly NOT co-sign for his girlfriend in my opinion either. Frankly, it won't help him that much. Banks take coXs a lot more seriously when its' a family member, and they're a lot more useful when you have no credit versus weak credit.

    Bill
  • blane17blane17 Member Posts: 5
    Looking to lease '01.5 Auto GLX. What kind of residual value and money factor am I looking at?

    Thanks--
  • clscflmclscflm Member Posts: 71
    Sure, debt is debt; am not saying student loans shouldn't be paid off, but when they're huge it shouldn't be a detriment to credit ratings. Paying off an education is a little different from maxing out credit cards recklessly and should be considered on a different scale.
  • vwguildvwguild Member Posts: 1,620
    You need to be a little more specific...term of lease...24,36,48,60 months...
    How many miles? 10, 12, 15K...Terms & Conditions of any Lease are predicated
    upon these factors...
  • cliffybcliffyb Member Posts: 114
    I think I remember hearing that something like a third of all student loans are defaulted on. Maybe thats why the banks treat them like real debt. So many people spend their money on things like Passat's(the greatness of automobiledome that it is)instead of paying off student loans that they stretch the school loans out over twenty years. Thats not the banks fault. And the money lent to you by the bank or the government was the same US Currency used to buy things like cars, boats, and watches. So it has the same rules and obligations surrounding it.
  • im_brentwoodim_brentwood Member Posts: 4,883
    Its' funny...

    The one thing that seems to really turn lenders off are student loans in default....

    Seems to be a pet peeve of theirs...

    Bill
  • vwguildvwguild Member Posts: 1,620
    Can't imagine why...
  • blane17blane17 Member Posts: 5
    I'm looking at 36 month lease with 10k miles.
  • clscflmclscflm Member Posts: 71
    My point that large student debt -- that's being paid off, not defaulted on -- can make one's credit record look imbalanced, as it shows large debt that is different from credit card mania. I'm not talking about running amok accumulating more debt (as in buying cars, and trust me, nice as Passats are, if one wanted to run wild, one would move more up scale) and sending government loans to the devil. I'm talking about being responsible in paying all debts -- and also trying to have a life too. Like perhaps buying a medium range car with a decent interest rate.
  • familyofthreefamilyofthree Member Posts: 3
    Anyone in the NYC/tristate area used them? I got what seemed to be a very aggressive quote for a 2002 (search for car still in progress):

    GLS 1.8t Wagon, manual transmission, lux, leather and monsoon for 23,600 + 550 destination + additional 150ish for inspection, tags, handling. Oh, plus the behemoth NYS sales tax...

    I seem to recall other posts mentioning them--indifferent to good, I think--but I can't find them now. In any event, being in NYC--the land of $25 Rolexes--I'm a little suspicious...
  • cliffybcliffyb Member Posts: 114
    Why don't you refinance your house and pay off your student loans? Then you won't have that loan balance hanging over your head.

    If you do not own your home than I would suggest you make this a priority over a Passat or other medium range car purchase.
  • mmcbride1mmcbride1 Member Posts: 861
    Even if he refinances to pay off the student loans, the debt to income ratio doesn't change. It's just a different form of debt.
  • shogun1313shogun1313 Member Posts: 17
    The reason why any bank would engage in student loans is the gaurantee by another party. Also, there are lenders that will even pickup defaulted loans to capitalize on the interest and collection fees. Since there is no lemit a party can collect on a student loan (i.e. you cannoy include them in a bankruptsy), they are attractive to offer by lenders.

    BTW, does anyone have a problem with the GLX MSRP being dang near $30K? I'm thinking 325i or Acura TL, or saving about $5K (maybe for student loans? hehe) and getting a loaded V^ Accord.
  • cliffybcliffyb Member Posts: 114
    I think that the passat is a much better value in 4 cylinder form than when loaded with V6 GlX 4 motion form. But obviously people buy them.

    Of the cars you mentioned:

    The accord is b-o-r-i-n-g! My wife has a new one and while i'm sure that it safe, reliable, and comfortable to drive, it does not feel like a drivers car. Not to mention seeing yourself coming and going every stoplight.

    The Acura TL is much to the same(literally). Acura does not pack the "premium brand" punch to justify the cost difference either. But a nice car none the less.

    The BMW 325 is sweet! If you want a small car than there is none finer in my opinion. Keep in mind that the back seat and trunk are tiny in that car not to mention that options can run that car to the sub forty range real quick.
  • cliffybcliffyb Member Posts: 114
    I am asking...so don't jump all over me.

    Are student loans tax deductible to the full extent of interest on a home mortgage?

    Also, wouldn't having paid off his student loans result in his credit score being raised? I know the ratios don't change but the debt will have gone from "unsecured" to "secured" debt.

    I don't normally go for "rob peter to pay paul" approach either but I do know that our society favors estate based debt.
  • isuzudave1isuzudave1 Member Posts: 4
    I too was looking at the TL, 325 and Honda - funny. I went around and around and I'll tell you what is now in my driveway - blue anth GLX loaded. Leased for 36 months, no cap red, 18000 miles a year for 458 including tax. Acura was the one I kept going around on - but the VW is a great deal now (00189 money) and the Acura was a little more. The passat is is a tighter ride and so nice to look at. 325 was just too small and not a good value. So I recommend the 'on sale' GLX and maybe see if you win at the lease end buy buying under market.
  • mmcbride1mmcbride1 Member Posts: 861
    All the interest on a home mortgage or home equity loan on your primary and (if applicable), your vacation home is tax deductible. There are certain limits, but they are pretty high (I know I don't need to worry about them, and neither do most people in the country). I believe the current limit is $1 million in mortgage debt.

    The key to making student loan interest (or any other kind of home equity-based loan) tax-deductible is that the collateral has to be your house. So if you default on those loans now, they come after your home, not just you.

    I really don't know about raising your credit score by doing that, though. I'm a CPA, not a loan officer. Another thing to think about before you pay off student loans with home equity is if you want to do anything to your house, you may have already used up your equity on the loans, so you'll have to find another way to pay for the new basement or kitchen you want. Not only that, but if you're thinking of moving soon, you might use up the down payment for your next house, too.
  • mulfomimulfomi Member Posts: 56
    I am a credit officer at a large bank in the private banking area (cater to the wealthy) and home interest is not all tax deductible in the case of people who get loans that exceed the value of their house. You will see commercials for these companies every so often. If someone has a mortgage at 80% LTV, then goes to one of these finance companies and borrows up to 125% of the value of their home, they can only deduct the interest for the loan that equals the value of their house, no more. So if said house is worth $100M, and borrower has $125M in debt against it, they can only deduct interest on the $100M.

    Anyways, nothing to do with the cars, but I would rather see a potential borrower with a home equity loan, than student loans. But mmcbride1 makes an excellent point, be carefull loading up your home with debt if you have to sell, or want to sell or need a source of cash for emergencies, you want to keep it open.

    I have a 2001.5 passat and love it. Almost 1,800 miles on it and no problems. (had to make a car comment!)
  • mmcbride1mmcbride1 Member Posts: 861
    Technically, you're right. But do you really think the IRS tracks that? I don't. The IRS doesn't even know how much you paid for the stocks you sell. The only information they have is the gross proceeds of the sale. I would never do it, but it would be really easy to say you paid more for the stocks than you did. Sure, if you get audited, you'll have to prove stuff to them, but they don't waste their time on people like you and me. They go to where the real money is.

    Not to mention that if you're really worried about it, just find an appraiser who will give you the number you want on an appraisal, and "Voila!", your house is 'worth' the 125%.
  • mmcbride1mmcbride1 Member Posts: 861
    OT - which bank are you at (if you don't mind saying)? I work in the family office business :) We may be looking for a new private bank in the near future (currently with B of A out of Chicago).
  • kcc3kcc3 Member Posts: 13
    Can anyone recommend a VW dealership around the Nashville, TN area? I live in Middle TN and am seriously considering buying a 2001.5 GLS Wagon in the next 30 days.

    I am not impressed with the local dealership. Dealership name and location withheld for the sake of being nice. This local dealership seems to be fixed on marking up the price of VW's with pin stripping, undercoating, acid rain protection, special floor mats and additional mark-up for limited availability. Recently they had 16 cars on the lot and were adding mark-up for limited availability.

    Any recommendations are appreciated.
  • mmcbride1mmcbride1 Member Posts: 861
    Have you tried going in and telling them you want to deal, but only on a car fresh off the truck (no dealer add-ons)? They may tell you they don't do it that way. If that's the case, walk out. But they may be willing to deal with you.
  • KCRamKCRam Member Posts: 3,516
    Remember, we have an entire message board dedicated to financing issues. Feel free to stop by the Finance/Warranty/Insurance Board and look over the discussion list to see topics that may interest you.

    kcram
    Host
    Smart Shopper and FWI Message Boards
  • mulfomimulfomi Member Posts: 56
    I am at Key Bank. We aren't in the Chicago area however, just from Maine to Alaska with a significant portion of the midwest (Illinois and west to Colorado) having no presence. That doesn't mean you could not do business with Key, just wouldn't be as convenient. Just depends on the type of business you conduct with your bank. About the closest location would be South Bend Indiana (which I oversee from a credit standpoint). I certainly think we treat our clients right and we are a well run bank. If you are interested, let me know and we can discuss further.

    You're right about the IRS, I doubt that anyone would check that unless audited. Just not something I would do. I play it by the book. (Cant imagine taking a loan on my home in excess of the value either!!)
  • mulfomimulfomi Member Posts: 56
    You got it. Sorry.
  • cliffybcliffyb Member Posts: 114
    Well, I'm glad I started a meaningful discussion for once but I think the more we analyze the pros and cons of various financial decisions, the more assumptions we are making about people like clscflm's financial standing. When you start talking about 125% mortgages and the like, you break ground into an area where a responsible person is not purchasing any new car(not even our beloved passat). If a person has negative net worth, they ought to focus on changing that before any major purchase, even if their income potential is large in the long run.
  • vwguildvwguild Member Posts: 1,620
    Well Said...
  • blane17blane17 Member Posts: 5
    I am being offered '01.5 Passat GLX (no 4 motion) Auto w/ in dash CD player for $27,750 (includes dest charge)+ TTL. Is this a good deal?

    Also, what should my residual value and money factor be for a 36 month lease?

    Thanks so much.

    Brian
  • blane17blane17 Member Posts: 5
    Mileage on lease is 15k miles.
  • isuzudave1isuzudave1 Member Posts: 4
    Good deal on the GLX - and I've had mine for 375 miles. It is awesome. Real solid. Residual was 56% for 18k, 36 months, can't comment on the 15k.
  • vwguildvwguild Member Posts: 1,620
    56% & 0.00280 for .5 GLX @36 Months/15K Miles
  • jbwrlyjbwrly Member Posts: 1
    I got my new 2002 Passat last week for what I believe was a good deal. It is GLS, Silverstone, grey velour, homelink, luxury package, monsoon sound, and added a cd player.

    $23,686 + $425(cd)= $24,111(doesn't include tax, title, and license)

    We have had the car a week and couldn't be happier with it.
  • godeacsgodeacs Member Posts: 481
    Congrats on your new car! Just looked at the new Passats at my local VW dealer and they seem really nice. By my math you got if for over $600 under MSRP - not bad for a 2002.
  • ges1ges1 Member Posts: 10
    I have been offered a 2002 GLX Passat 4 Motion wagon at $430 under MSRP. Leasing this for 3 years, I got a 60% residual and a .00290 money factor. The lease terms seem ok, but what's your reaction to the cap cost? I don't want to pay a cap reduction fee either. (I am up in Alaska, so inventories are limited.)
  • raybearraybear Member Posts: 1,795
    My understanding is discounts are hard to come by in Alaska, so you've done well. It may not be worth it to buy a car in Washington and either drive or ferry it home.
  • xwebxweb Member Posts: 12
    Yikes! I go on vacation and my thread maxes out in my absence. Thanks so much for all the thoughtful replies. I don't think I'll be buying a beautiful new Passat until I've worked out from under the rest of my debt. Now I just have to figure out what to do with my leased Saturn that I'm about to run out of mileage on -- 1 year early.

    PS. Off topic -- but Teddy Roosevelt National Park in ND is incredible! Drive your Passat up there next summer :--)
  • watchnikkiwatchnikki Member Posts: 2
    I just purchased a 2001.5 Passat GLS V6 Automatic, Leather, Luxury, and Monsoon system (Anthrasite Blue/Grey Leather,in case you're wondering). After shopping around, both by visiting dealerships and faxing 20+ VW dealers (I live in LA so there are plenty to choose from), it appeared that the best price I could get would be $200 over invoice.

    On a lark, I tried using the car buying service offered through my credit union, Autoland. Within an hour they located the car--for 26,100!!! Nearly 500 below invoice. Don't know how they did it, but I'm not complaining.

    So, if you're credit union (or insurance provider, or whoever) offers a similar service, give them a shot. Autoland did wonders for me.

    Love the car, BTW
  • jkipsterjkipster Member Posts: 272
    Like watchnikki I tried calling dealers and going to a broker to locate a 01.5 1.8T but they either didn't have it or weren't willing to go below invoice because there were so few of them left. So I put in an order w/ carsdirect and they found me a gls auto (in 1st pref indigo blue) w/ luxury, monsoon, and cold weather pkg (I was told it had homelink instead, but at least it's a more expensive option...) for 22,776--$900 below invoice. Only trade-off was beige interior (too bright). With my extended warranty to 6/108K miles, I paid 26k out the door.

    I am very pleased w/ my price, plus they got me the lowest rate. I definitely recommend going through a broker of some sort to avoid the hassle of haggling w/ the salesmen/dealers.
    2001 Passat
    2010 G37S Sedan
    2013 G37xS Sedan
    2014 QX60
    2015 Q40
    2016 QX60
    2016 E350 Sedan
    2017 QX60
    2019 E450 Wagon
    2021 Sienna XSE AWD
    2022 Lexus RX350
    2022 Chrysler Pacifica Hybrid Limited
    2023 Nissan Pathfinder Platinum 4WD
  • kiranarrisekiranarrise Member Posts: 1
    Thinking about buying 1999 GAS Turbo Passat..1.8 liter.. Sticker price is 19,000. What's realistic? Edmunds suggests 16,800 from a dealer. Is that realistic?

    Also.. will this be the kind of car that will go run happily for 150,000 miles? 200,000? more?

    I fell in love with the interior.. but long-term reliability and low maintenance are key.
  • vwguildvwguild Member Posts: 1,620
    This should be a *Certified Pre-Owned*VW...If it is not...Walk away...You can learn
    all about this program at www.vw.com and these cars price out at Kelley Blue
    Book Retail due to the fact that they carry a 2Year/24,000Mile Bumper to Bumper
    and 2Years of 24/7/365 Roadside Assistance.
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