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Prices Paid: Buying & Leasing Experiences Volkswagen Passat Lease Questions
751 messages, Last post on Oct 15, 2009 at 2:08 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: tedr3 (Jun 09, 2006 4:42 am) If anyone is shopping, this was my deal: 2006 Passat Sedan, 3.6L, 4Motion, Package 1L, Rear airbags 36 mos./36,000 miles MSRP: $35,630 Cap. Cost: $32,300 MF: 0.00111 Residual: 55% Payment: $410 Payment w/tax: $447 Out of pocket $1,190 ($575 acquisition, 1st month and $168 for tags). Hopefully, I did OK. |
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MSRP $23,585 (Manual) 2 lease options (10k miles/yr.): $299/36 months includes tax and 1st payment, security deposit is waived, just add DMV fees; or $229/36 months with $2,500 total down I was also quoted 299/month with 1,276.72 due at signing for a base model Passat with heated seats, alloy wheels and automatic. Does base mean it is below the Value Edition? Your thoughts on these lease options and what other information i should get? |
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I am new to leasing and was hoping someone might clear up the lingo for me. The wagon is one level up from value edition, adding a Moon roof and 6 disc CD. I think this is level 1? The sticker on the wagon I am looking at is $26844.00 That is the number salesman plugged in as "Initial Cap Cost" 12000 miles a year, 36 month lease. The Residual is 57% with Res value of 16333.35 Money factor: .00087 With $350 security, $575 Acq fee, $57 total annual fee, $57.50 Initial fees. At the end of all this he quoted $1806 down and $346 a month. What is the Residual and money factor sell rate? How am I doing so far? Thanks for any help at all.
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Replying to: avoman (Jun 21, 2006 3:46 pm) IF they are offering leasing support on this car, it seems to me you should be able to get it for less than sticker. And, yes, as a matter of fact, I just looked it up on carsdirect and am getting a quote from them for $800 over invoice. So it seems like you should be starting with an initial cap cost about $900-$1k below sticker. Also, $16,333 is NOT 57% of $28,4. Its more like 61%. The mistake is in your favor, but I'm not sure why the mistake exists at all.
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Replying to: qbrozen (Jun 22, 2006 6:56 am) What is leasing support? As for the mistake in the numbers, that may have been my error. Correction: MSRP: $28,865.00 "Initial Cap Cost":$26,844.00 Does this mean they are selling the car at $26,844.00 ? Thanks very much for your help!
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Replying to: avoman (Jun 22, 2006 9:47 am) Money factor is the interest rate. For some reason still foreign to me, they use this weird .00xxx number instead of a straight and coherent x.x%. The important part is that current standard bank rates for leasing are in the .002xx range. So when VW gives you a money factor of .0008xx, that means they are giving you a low interest rate. Low interest rates for leases is a form of leasing support. A manufacturer can either offer special rebates for leases or low leasing rates to help dealers move cars off their lots via good monthly lease payments. Only thing that is bugging me is that I can't come up with that MSRP through carsdirect. A 2.0T FWD with package 1 comes up at $28,430. I tried adding various things like splash guards and floor mats, but I just can't seem to get $28,865. Do you know what else they might be throwing in there? Seems like maybe some kind of dealer installed garbage like wheel locks or pinstriping. Well, in any case, I wouldn't sweat that. The nice thing is, $26,6 is invoice on that car with no extras. SO you are only a couple hundred above that, which I think is a good deal. And the money factor is low. What is this "annual fee"? Is that your annual registration cost? I'm guessing that's what this is. If so, everything looks pretty good to me. But I'm no pro.
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Replying to: qbrozen (Jun 22, 2006 11:27 am) As for the anual fee. I had the salesman print out the Lease information screen and has Total Annual Fees $57.00, Total Initial Fees 57.50. When I speak to the salesman, I will ask. Thanks for all your help.
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Replying to: avoman (Jun 22, 2006 11:40 am) |
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Replying to: deejay2099 (Jun 05, 2006 6:02 am) Car_man Host Prices Paid Forums |
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Replying to: tedr3 (Jun 09, 2006 4:42 am) Car_man Host Prices Paid Forums |
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