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Prices Paid: Buying & Leasing Experiences Volkswagen Passat Lease Questions
706 messages, Last post on Nov 21, 2008 at 3:17 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
| CarMan, What are the residuals and money factor in October for Passat 2.0T for 36 month lease for both 12k per and 15k per? | |
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You're very welcome Tracey. Car_man Host Smart Shopper / Prices Paid Forums |
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Tracey, it is difficult for me to tell how good the prices that you were quoted for these cars are without knowing their full MSRPs. Furthermore, I need their MSRPs to calculate the lease payments that you requested. If you know exactly how these cars are equipped, you should be able to figure out what their full MSRPs are by visiting the following section of this site: Edmunds.com - New Vehicle Pricing. Let me know and I will let you know. Car_man Host Smart Shopper / Prices Paid Forums |
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Here is the information that you are looking for nvnick. If you were to lease a 2006 Volkswagen Passat 2.0T 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 .00137 and 57%, respectively. The factor for an otherwise identical lease with only 12,000 miles per year would be the same, but its residual value would be 2% higher. Car_man Host Smart Shopper / Prices Paid Forums |
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Welcome birdboy. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. You definitely can trade in your current vehicle when you lease your new one. It would be in your best interest though to have the dealer that you are working with cut you a check for your trade rather than applying the proceeds from it as a down payment on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Passat would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. Car_man Host Smart Shopper / Prices Paid Forums |
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Hello Mr. Seminole. I would be happy to help you out. Actually, now that I think about it I just answered the exact same question for another community member two posts ago in message #32. Check there for the info that you are looking for and let me know if you have any other questions. Car_man Host Smart Shopper / Prices Paid Forums |
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I am looking at Passat 2.0 pkg 1 with dynaudio system. I have been offered a 3 yr lease of 396/month with 1,000 down for 15K miles or 368/month with 2,000 down and 15K miles. I am not concerned about the residual as I am not planning on keeping it beyond then. Can I get better or is this about as good as it gets? I am not going to nitpick over $5 or $10 per month, but if I can get the down payment lower, or a significant lower monthly, I would like to hear about it. Thanks! Can't wait to drive my new passat! |
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Car Man, We just bought our 2.0T using the driver's option and with what we got for our trade, it made the payment less than $330/mo for 36 months. Our balloon payment at the end is about $1000 higher than the 57% residual on a lease, but we paid nothing out of pocket on the front end. When I plugged the numbers from our purchase including the trade difference into the lease formula on Edmunds.com the lease payment was $1 higher than our payment on the driver's option - and that was before taxes. Also, just for kicks I figured what our payment would have been using your numbers from post #32 and paying no money down. The payment would have been 363.88 for 36 months before taxes with the residual being $15,512. This also does not account for security deposits and acquisition fees. At the end of 36 months we have the option to purchase the car, refinance, trade, or turn it in. I know if we turn it in there will possibly be some fees we will have to pay, but we will most likely trade. If you can buy a car in such fashion, is there really any advantage to leasing? VW Credit has a little information on their website at link title. What's your take on this? Thanks, Jeff
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Car-Man, I went to a dealer in NJ today who told me that there is a special regional program in the state to help dealers move 2.0T Passats. He stated it was $750 customer cash on leases and that there were only 12 dealers in NJ that were participating in this program. However, the money factor he quoted was .001520 and the residual was 57% for a 36 month 15,000 mile per year lease. My question is would there be a different money factor under this program or is he just marking it up. Is the customer lease cash back really $750 or is it more. And is there a way to find out who the other dealers are that are participating in this program. He also said it was ending this Monday. Is there any way to know whether it will continue into next month. Thanks for any info you can provide. |
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Hi, Can someone post the current (till end of Oct., I think) lease rates for the 2006 Passat? Or point me to where I can find them? Thanks, Dan
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