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Volkswagen Passat Prices Paid and Buying Experience

3318 messages,  Last post on Nov 12, 2009 at 9:57 AM

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What is this discussion about? Volkswagen Passat, Sedan, Wagon

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#1486 of 3318 VW and Holdback?? by pamlac Nov 17, 2001 (7:02 pm)
In the market for a new car and love the 02 Passat. Went to a VW Dealer to discuss pricing and wanted to negotiate from the dealer's actual cost (invoice-2% of msrp dealer holdback). The salesman said there was no holdback, then wanted me to pay 5% over invoice (26114 + 5% = 27419). True or False, is there a 2% VW holdback and is 27419 a good price on a 5speed Passat GLX? Edmunds says there is. Anyone else experience this?
#1487 of 3318 Pam... by vwguild Nov 17, 2001 (7:56 pm)
Invoice is $26781.00...   Base Price = $26,114.00 Port Prep = $25.00 FPIR = $92.00 Destination = $550.00   Holdback is actually 3% minus Destination...   Holdback is generally not a negotiating point, unless the dealership has so many DOG CARS; they cannot get out from under it all...They are over- whelmed with Distress Merchandise, which is not the case with the Passat GLX in any configuration.   If you go to the home page here you will be able to get Edmund's perspective and if you go to www.vwvortex.com and click on *Forums* and then *Volkswagen* and then "Passat B5" you will find a *thread* titled *Is This a Good Deal?*. There you will find a reasonably succinct definition of what *Holdback* is, and the way in which it is dealt with as an accounting entry.   You might also want to check out Edmund's True Market Value link on the home page.
#1488 of 3318 need advice by mwalsh2 Nov 19, 2001 (3:32 pm)
I should start by saying I've never purchased a car. I'm on my 3rd lease. I have made the decision to buy. I currently lease a 99 (old body) vw jetta. My lease doesn't run out until October 2002, but I only have 2,000 miles left and with my job i'll be lucky if that gets me to the middle of December 2001.   My questions: I want to buy a Passatt, manual transmission. I don't need any extras. Will VW make me finish my lease payments on my Jetta? They are only $255 and I have 10 left. I know if I go to another car maker they have offered to pay off my lease, buy I really want a VW.   Also, what is a good amount of money to put down?
#1489 of 3318 call up the bank... by cupholder1 Nov 19, 2001 (4:26 pm)
and find out your payoff amount, then get an estimate on your current's car value (check out TMV and KBB). If your payoff is around the trade in value, it is your lucky day. But with all those miles, you're more likely "buried" (upside down), and will have to pay the difference to the dealer between what your car is worth and what the payoff amount is.
#1490 of 3318 Pay off your lease? by afk_x Nov 19, 2001 (4:48 pm)
There is no way any other manufacturer is going to "pay off your lease"   The money has to come from somewhere.
#1491 of 3318 any lease... by cupholder1 Nov 19, 2001 (4:57 pm)
has a payoff amount, just like a financed car. the term "lease payoff" refers to the cost of buying out the lease today, which means you now own the car. any dealership will do this, just like with a financed car. there really isn't any difference between the two.   when you owe more than what the dealer is willing to pay, you are upside down, and the leftover debt from the previous lease/finance is rolled over into the new lease/purchase.
#1492 of 3318 Buying a 1.8 tip soon... by g2g Nov 19, 2001 (5:42 pm)
Hi everyone. I'm new and have been reading this forum regularly. I'm about to pull the trigger on a 1.8 Tip, luxury, leather, monsoon, Silverstone in So. Calif. I was quoted $500 over invoice, but they won't budge on $200+ advertising fee and $90+ "flooring" fee? Is this what everybody else had to pay? Thanks!   g2g
#1493 of 3318 g2g by raybear Nov 19, 2001 (6:03 pm)
That's right, those fees are real. I've seen better than $500 over, I just got one for $200 over in the Bay Area, of all places! Of course, that is $200 over the actual invoice, not the number you'd find at Edmunds or most internet sites.
#1494 of 3318 by mwalsh2 Nov 20, 2001 (5:31 pm)
Cupholder1: thanks for the information. i investigated. my pay-off would be $10,606 if i were to buy today. edmunds says my trade-in would be $7609 and my private party sale would be $8625. So the difference (~$3000) will be rolled into my payments if i buy a Passat? Does this get split evenly across all of my potential payments or can i pay bigger payments up front so my interest is less later on? Will this add a significant amount to my payments? I guess i don't really have many options...the vw guy said maybe CarMax would buy it from me. they aren't going to pay me $10,606 if edmunds is saying $7609 though, right? am i just plain in a bad spot? How can i make the best of this?
#1495 of 3318 making the best of it... by cupholder1 Nov 20, 2001 (5:56 pm)
Wait until you're not upside down on the trade before getting a new car... That is the best advice I can give... I would never trade in a car that I was upside down on -- unless I was trying to unload a problem car, lemon, etc. But to trade in just because the new car's fresh paint would look nice in your driveway? Don't do it.   Supposedly CarMax gives better prices than the dealer will give. I can't say if they do, but that's what I've read on these message boards.

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