- #264 of 752
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Re: VW Quote [mikemookie]
by Car_man HOST
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Jul 23, 2006 (10:04 am)
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Replying to: mikemookie (Jul 12, 2006 7:21 am)
Ahhh, the additional $1,000 discount makes this a much better price than it initially appeared, mikemookie. It still doesn't hurt to comparison shop through. I never go six days without posting in this forum. I'm in here every day except for Saturdays. I make the rounds through a ton of discussions so it's possible that I have not been in the Passat Lease discussion for a few days through.
Car_man
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- #265 of 752
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Re: VW Quote [bat60]
by Car_man HOST
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Jul 23, 2006 (10:06 am)
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Replying to: bat60 (Jul 15, 2006 9:48 am)
Hey bat60. Part of the reason for the incredible discounts that you are seeing is the $2,500 dealer cash that Volkswagen is currently providing on 2006 Passat 2.0T Sedan and $3,500 dealer cash that it is providing on Passat 3.6 Sedan models. Unfortunately, this dealer cash is not compatible with VW Credit's special lease program. So expect the price that you will have to pay for a leased '06 Passat to be several thousand dollars higher than the price that you would have had to pay for one had you paid cash for it or financed it through an independent bank.
Car_man
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- #266 of 752
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Re: Driver Option same #s as Lease? [ckwehe]
by Car_man HOST
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Jul 23, 2006 (10:11 am)
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Replying to: ckwehe (Jul 16, 2006 5:47 pm)
Greetings ckwehe. VW Credit definitely leases new vehicles to consumers, not just businesses. What state are you in? A while ago many banks stopped leasing vehicles to residents of New York. However, when that state's vicarious liability laws were eliminated most banks resumed leasing to New York residents. VW Credit's Drivers Option program is what is known in the industry as a balloon note program. Balloon notes are very similar to leases in that they provide consumers with low monthly payments and with the option to purchase their leased vehicles for a per-determined price after a specific period of time. One difference between balloon notes and leases are that with leases the banks names are on vehicles' titles while with balloon notes yours is. Another difference is in how they are calculated. Banks use normal interest rates for balloon notes instead of money factors.
Car_man
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- #267 of 752
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Re: Should I Take This Deal? [tc9897]
by Car_man HOST
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Jul 23, 2006 (3:03 pm)
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Replying to: tc9897 (Jul 19, 2006 12:47 pm)
Greetings Terri. The best way to tell if a lease is a good deal is to look at the vehicle's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Negotiate a low a selling price as possible on the Passat that you want and then have the dealer calculate its lease payment using VW Credit's current buy rate lease money factor. For this car, the 2006 Passat Sedan Value Edition, VW Credit's 36 month buy rate is .00094. Its 39 month buy rate for this car is .00137.
Car_man
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- #268 of 752
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Re: Lease Details [bat60]
by Car_man HOST
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Jul 23, 2006 (3:28 pm)
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Replying to: bat60 (Jul 21, 2006 4:04 am)
You're very welcome, Mitch. Thank you for the kind words. This car's lease program varies depending upon how long you lease it for and how many miles per year you are allowed to drive it. for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. If you were to lease a 2006 Volkswagen Passat 3.6 4-Motion Sedan through VW Credit right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00105 and 50%, respectively. The money factor for an otherwise identical lease of an '06 Passat 3.6 Front Wheel Drive Sedan is the same, but the residual value is 49%.
Car_man
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- #269 of 752
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Re: VW Passat Wgn 2.0T Lease MF and Residuals [amx]
by Car_man HOST
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Jul 23, 2006 (3:33 pm)
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Replying to: amx (Jul 23, 2006 8:15 am)
You're welcome, amx. Congratulations on your new car!
Car_man
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- #270 of 752
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Re: Driver Option same #s as Lease? [Car_man]
by charlos
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Jul 24, 2006 (1:50 pm)
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Replying to: Car_man (Jul 23, 2006 10:11 am)
Wow! Is this common practice for a car manufacturer? This tells me that they have no confidence in their own cars. In other words, it seems to me they are concerned about the risk involved in too many people returning cars at lease end, i.e, they would rather that you own it outright.
I really like this car, but am starting to think about going the Japanese route again. Too concerned about the horror stories of people waiting weeks for diagnoses/parts. Guess I'll wait for the JD Power/Consumer Reports verdicts.
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- #271 of 752
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Re: Driver Option same #s as Lease? [ckwehe]
by larmen
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Jul 25, 2006 (4:10 pm)
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Replying to: ckwehe (Jul 16, 2006 5:47 pm)
according to cars.com VW is offering 2000-3500 to dealers on Passats. let it be known that you know this fact. if the dealer continues to hardball you then just get up and walk out. let them know that they want to sell you a car more than you want to buy one from them. I've done this several times over the decades of car buying; it works every time. good luck!
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- #272 of 752
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Re: VW Quote [Car_man]
by jdtaylor23
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Jul 25, 2006 (6:45 pm)
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Replying to: Car_man (Jul 23, 2006 10:04 am)
Car Man,
Thanks for all the responses. While I made the move on the better of the 2 deals before I had chance to read your post, this does make me feel a lot better about going with this dealer. He was a "friend of a friend", so I'm glad he at least gave me a competitive offer. And from all the dealerships I spoke with, he was best in the NYC market.
Thanks again for all your help in not only my first "new" car, but my first VW.
MikeMookie
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- #273 of 752
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Buying before end of month or wait until next week?
by autobuyercalif
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Jul 29, 2006 (6:19 am)
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I am new to this Forum. Got what seems like a reasonably good internet/dealer quote on leasing a new Passat Wagon 07 - money factor 0.0013, 36 months, 12000 miles/year, price about $500 above invoice, residual value 57%, no down other than usual tax, etc - amounts to $350/month incl. CA tax.
I realise the month is over on Monday - should I use this to push for an even better deal (how? they say this is the best they can do) or do you think money factors could improve for August so I should wait? Thanks a lot for any help.
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