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Prices Paid: Buying & Leasing Experiences Volkswagen Passat Lease Questions
666 messages, Last post on Jul 03, 2008 at 11:19 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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OK - so a 15K lease has a residual of 49% What's the residual for 16, 17, or 18?? I had a vw 18K lease before, but I don't know how this was figured. |
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I'm nearing the end of my 2003 Passat GL lease(2 payments left) and I'm wondering if I should buy the thing right now - 10 day buyout is $10250 . Yes, you can all stop laughing--as a leasing newbie I naively went with a five year lease (I said stop laughing!) and paid $350 a month for the privilege. I'm sure I've been fleeced and knowing that I've already paid around $20k, plonking down another 10k is a rather painful prospect, but I'm trying to separate the two scenarios. I love the car, and it's below the allowed mileage(at 43k) and from what I can gather the price seems to be in the ballpark. It needs new tires, so if I turn it in I'll be charged for that, I'm sure. So at that point I'll have to fork out $350 turn-in fee and money for the tires and whatever else they deem above normal wear and tear, and at that point I still have to find another car that I like as much as this one. Since I'd like to get out of leasing, does it seem like a good idea to go with the buyout? A couple of questions I have are: How is the FL sales tax assesed? If I go with my credit union for financing, would each payment have a tax added or would I have to deal with DMV and pay a lump sum? Also, would an extended warranty be a must, since the car is already five years old? Thanks in advance (holds his breath for the requisite jabs at long-term maintenance costs of VW cars) Steve R. |
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Replying to: fleased (Dec 10, 2007 12:06 pm) Additionally, here's some advice. I actuallly bought out my 03 Passat about a year ago. VW would prefer you to buy it out, so they will attempt to incent you to do just that. They gave me $1000 off the residual, so while my residual was 12,000, I only had to pay 11,000 (plus tax of course). I just paid cash, but I think they also offered to finance it at a great rate. So, call them asap and tell them your considering buying it out, and see what they say. They may offer it to you for $9k with a great rate. Let us know how it goes. |
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Replying to: fleased (Dec 10, 2007 12:06 pm)
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Hi Car man I have a 2004 Passat that is over miles and would like to look at terminating the lease early. Do you know if Volkswagen is running an early lease termination programs that could get me into a 08 or 07 with nothing out of pocket? I appreciate your help. thanks
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Replying to: bunduz (Dec 14, 2007 3:49 pm) It depends on when your lease is up. VW is currently running their Lease Pull Ahead program. Does your lease end between January 2nd and May 31st 2008? If so, you qualify for this. The best part is that your milage allowance is not prorated, so especially since you are over miles this is a great option. So you get to turn it in early, but you get the full milage. Additionally since you are a current owner of a VW you'll get a $1500 credit. There are additional factory to dealer incentives that you could request be passed on to you. I would suggest calling all the dealers in your area to inquire what additional incentives they may have that they are willing to pass on. In what state are you located?
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Replying to: qbrozen (Dec 10, 2007 1:20 pm)
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Replying to: search4car (Dec 15, 2007 11:26 pm) I am in The KC area. This is my second VW in a row from Baron in Merriam. My lease is up around May 1, 2008. Thanks,
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Replying to: bunduz (Dec 16, 2007 11:28 am) I used to live in KC and went to Baron as well. There is another dealer in Topeka that always beat them on price. very nice too. - http://www.sunflowervw.com If you PM me I'll send you the name of the person to talk to (GM/owner). Also, be sure to maximize the sign and drive promotion. Don't pay ANYTHING out of pocket when you pick it up. Have them roll in everything including tags. Just make sure you understand what's being rolled in so you don't get stuck with fees. Ask for the residual and money factor and figure the lease payment yourself (http://www.leaseguide.com/calc.htm). If it doesn't add up, show them your calculations and ask why? I saved a $1000 doing this. When you're talking price (I always suggest doing this over email and phone) if they mention a monthly payment number, be sure to clarify what it includes. I've noticed a trick is they will say the payment not including tax. This will get your interest, and it may not be until later that you realize theres anothe 30-40 a mo. they somehow just didn't mention. Always ask, is that including tax? They pay your first month, then you pay the second month. As i recently learned, dealerships are very quiet in December and that's why it's the best time of the year to buy a car. As most vw leases are 39 mo. I hope to have a similar situation as yours in 3 years. |
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Replying to: search4car (Dec 15, 2007 11:39 pm) I can't remember the name. |
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