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Prices Paid: Buying & Leasing Experiences Volkswagen Jetta Lease Questions
587 messages, Last post on Sep 06, 2008 at 3:07 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
I was wondering if anyone else has any experience with this scenario. I received a letter from my dealership (Greenbrier VW) that I'm eligible for some special low interest refinancing on my '06 GLI. Thing is, I'm leasing the vehicle right now and I'm not sure what to do. I called the dealership and they're waiting for me to come down sometime this month so we can set this up. I work in Washington DC and I'd have to drive the vehicle down to the dealership 3 hours away for them to evaluate the vehicle. We just got approved for the mortgage on our new home. Will they pull my credit for this refinancing deal? Is it worth the drive down? What am I looking at? I asked Car_Man about terminating a lease early and how that's usually a bad deal; is there any way I can get burnt if the dealership is the one trying to get me to terminate the lease early and move into financing?
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Replying to: gli06er (Apr 09, 2007 6:50 am)
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hi can someone give me the current MF and RV for the 2007 jetta and the wolfsburg? specifically interested in 12k and 36 mos or 15k and 36 mos. thanks for your help dan
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Replying to: depechebkn (Apr 10, 2007 4:04 pm) 36Mo/15K Money Factor - 0.00095 Residual - 56%
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Replying to: vwguild1 (Apr 10, 2007 11:14 am)
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Replying to: gli06er (Apr 09, 2007 6:50 am) Absolutely. it is NEVER a good idea to buy out a lease early. One of the biggest differences between leasing and financing is that all interest charges are built in up-front in a lease, while interest accrues on a finance. So if you buy your lease out NOW, you will still be paying all the interest you would pay if you kept the lease until its end. If you finance that buyout, you are then paying interest on top of interest. Meaning you are paying financing interest on the interest portion of the lease. Not a smart move. If they can't give you numbers over the phone, it is a scam and they just want to hard sell you on a refi. I'm not sure why, other than the fact that they would be getting extra fees and a kickback from the bank/VW. |
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Replying to: gli06er (Apr 10, 2007 6:11 pm) simply to learn that... In addition, leases are "term of contract" financial instruments, meaning they are not intended to be broken. In order to end your current lease all remaining payments must be made and the residual paid off in it's entirety...And that is never pretty... Finally, Volkswagen Credit would never be a partner in this.
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I'm trying to determine if I got ripped off or not... I live in TX, this is on a 07 2.5 Automatic Jetta w/ pack 2 + sunroof. Agreed Value $24692 Acq Fee 575, 130 license/title, 50 doc fee, 25448 gross capitalized cost. Cap cost reduction of 1770 + 350 (first payment) Trade of 1000 ON cap reduction, only $350 from my pocket + trade. Taxes were $252, however I was suprised of this b/c I thought I'd owe taxes on the entire car's amount. I was approved for the current (low) MF and the 54% residual putting the car at 13551. The adjusted capitalized cost was 23678. The "Rent Charges" which make up the interest showed up as 2473 making my payments be $350/month. I can't figure out where that $2473 comes from. Did I get ripped off? What should my payments be closer to? I originally calculated $350 with paying tax on the entire car, but without am calculating closer to $300. Is there anything I can do since the finance manager essentially just lied about the #s to my face? Thanks
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The volkswagen national page is listing jetta leasing at $199/ month with $1974 due at signing. The lease is based on MSRP of $19,110. Monthly payments amount to $7,164. Purchase at end of lease is available for $11,060. I also qualify for the college graduate discount of no first month payment and no security deposit. The lease is based on 36,000 miles. My question is if this is a deal or a gimmick. Thanks, JShatto
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Replying to: vwguild1 (Apr 11, 2007 11:22 am) payment of up to $1500 over NADA official used car guide listing; $1276 gift certificate for "special" internet shopping spree (I have NO idea what that means); 2.9% apr financing of replacement vehicle; and up to $3000 vw owner loyalty rebates (I think I'm only eligible for $2000). This is pretty much all I got in the letter from Greenbrier Volkswagen, besides of course requiring an inspection of the vehicle. I'll be in the area this weekend anyway, so I figured I should drop by and see what they have to say. Has anyone else had any experience with this? Thanks! 
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