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Prices Paid: Buying & Leasing Experiences Volkswagen Passat Lease Questions
752 messages, Last post on Nov 30, 2009 at 5:44 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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Good afternoon, I am ready to lease a 2006 Passat 2.0T, Pacakage 1 w/ Cold Package. Here is dealer initial offer (I live in Mass). $27,455 MSRP $26,289 sell price $2500 Down $326 p/m for 36 m 12k per year $13,727 Residual I am a first time lease purchaser, any help, THANKS
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Hi, First time leasee as well. Here's the best deal I got for a 2006 Value Edition Passat: Original MSRP: 24,655.00 Adjusted MSRP: 24,655.00 Residual Value: 13,313.70 (54%) Annual Miles: 12,000 Discount/ Buy Rate/ Adjusted/Sell Rate: 0.000470 Dealer Cost: 23,228.00 Selling Price: 22,928.00 Price Adjustment: 456.26 Adjusted Selling Price: 23,384.26 Total Cap Cost: 23,959.26 Payment: 36 months  299.76 Plus Tax = $317.75 Nothing except first month due at signing. Can I do better than this? Thanks.
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