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Volkswagen Passat, Car Leasing, Sedan, Wagon
#579 of 1255 April Lease Questions
Apr 16, 2008 (3:47 pm)
I wanted to summarize what I have gathered in reading prior posts about the current lease program. Hopefully I will be corrected if I am wrong:
-36 month/36K miles lease on the sedan has a 50% residual and a money factor of .00023
-I own a Passat so that gives an additional $2000
-There is $750 additional money that I should try to negotiate.
Onto my outstanding questions. I have never done a sign-drive $0 down lease. In my prior lease experence with BMW I am used to paying an acquisition fee, a security deposit, and the first month's payment up front. I would like to compare a new 328i lease with the passat, but to get an apples to apples comparison, I need to know the following:
-What is the vw acquisition fee?
-Is there a security deposit required. If so, how is it calculated?
-Do vw leases include gap insurance?
-Is there a disposition fee at the end of the lease?
Thanks for all of your help.
#580 of 1255 Re: passat komfort lease [jaxs1]
Apr 16, 2008 (5:23 pm)
FYI - I did NOT have a trade in and still got a great deal on the lease of a Passat Komfort (with heated seats and ipod adapter). I do own another Passat and got $2000 owner loyalty incentive. The deal . . . NO money out of pocket at all, 36 months, 15K miles/year, only $320/mo including tax. No trade in.
Maybe you shouldn't be such a skeptic. Of course, you have to negotiate with the dealers (which I primarily did over the internet) but the deals are out there if you have the owner loyalty incentive. They may not be as good without it.
#581 of 1255 Re: passat komfort lease [kmhawk]
Apr 16, 2008 (5:38 pm)
So it sounds like it can be a very good deal for the percentage of people who qualify for the loyalty discount and/or trade in one of the qualifying year and make cars.
For everyone else, not so great. The extra $1700-$3700 obviously will make a huge difference in the monthly payments on a 36 month lease for that group of people. For everyone else, it doesn't seem to be nearly as good as I thought it would be before I found those restrictions.
#582 of 1255 Re: passat komfort lease [jaxs1]
Apr 18, 2008 (6:09 am)
Ya, thats true, if you don't get the incentives, then its not as good, but certainly much better than the accord lease right now, which I really really wanted. But I am certainly not going to lease for about the price I could finance.
I took out the Passat Komfort 3 times now, and I really like it, everything I could want, but I found myself asking, do I really like it enough to give up my 06 Accord? I am still asking this myself. My mother mentioned she would pick my 06 Accord over the Passat, because she likes my seats much better, also, the dash in my Accord is much better, more upscale, and I have to agree a bit with that, Perhaps the interior doors could use a bit softening so they would not look as cold. They don't have the plush look to them. Plus, my mother mentioned that at the end of the day, my Accord will hold a bit more value, even older beater hondas are selling for $$$. With all of that said, the other half of me, is saying, get crazy and just do it!! It is a beautiful cobalt blue, and even on my test drive, people were asking me about it! It has everything I could want.... this is a hard decision, has anyone else had this problem...lol... I do lease my Accord, and have limited mileage left, plus the incentives will probably end this month, plus the blue color might be gone, I am just not sure I could drive away and see my Accord going off to auction. ...
One thing about the Passat, its got some Bling, and it has a big Fun Factor to it!!lol
Anyone got any advice, it would help me alot!!! All the things my mother mentioned were quite minimal about the car, but she said it was all up to me... Let me know!
#583 of 1255 Re: passat komfort lease [bvdj84]
Apr 18, 2008 (7:43 am)
I wish I had some advice for you, but I am in the same situation. I am currently leasing a 3 series. My lease on my 3 is ending pretty soon and I am trying to decide which is better: buy/lease a passat, or buyout my car for essentially the same price. Who knows, I might even buy/lease another new BMW. In most every way, I like the 3 series better, but $1200 tires every 20,000 miles is a bit excessive (If I would release or buy a new 3, I would stay away from the sports package which comes with the blasted expensive tires). And I have a feeling once the BMW is out of warranty, things could get mighty expensive. The practical side to me says get the much cheaper passat, but the emotional side wants me to stay with BMW. I don't know what to do!
So while I have no advice, I just wanted you to know that you are not alone.
#584 of 1255 Buy now or later?
Apr 18, 2008 (1:54 pm)
I am considering a 2008 Passat Komfort with Ipod adaptor. From what I am reading on the posts, some are getting payments of about $311 - $329 per mo with 12,000 miles, 36 months. 50% resale after. And this is after you negotiated your best deal. The lease posted on VW website for a base Passat is $329.mo and my local dealer told me it's higher at $369 for the Komfort. But I guess some of you are getting $2,000 VW Loyalty incentive or $1,500 Conquest incentive for trading in a Honda, Toyota, Nissan, Hyundai etc. bringing your lease payment down to approximantely $320/mo. including tax, tag and title.
My questions are as follows:
Have any of you gotten a $320/mo price on a Komfort without getting one of these incentives?
Is the Sign and Drive event an incredibly low price that can't be passed up? (e.g. what would be the "normal" lease deal I could get on a Komfort Passat?)
VW is now shipping their cars with the new 2.0T CCTA engine with 211 hp and more torque. This is a completely new engine and replaces the existing 200 hp BPY engine. Advantage is more torque, maybe slightly better gas mileage, timing chain instead of timing belt. and better acceleration. VW is putting this engine in all of their 4 cyl. application including the new 2009 Audi A4 2.0T. So now that the new engines are arriving, perhaps the main reason that VW has had this Sign and Drive Event was to clear out their inventory with the older BPY engine. I am concerned about this but now way to know. Interesting thing is that you can pick up a Passat with one of the new engines and still use the existing Sign and Drive incentives. It's a thought. I wonder if there will be reliability issues with the new engine while they get the bugs out in the first year or will it just be all that from the beginning??
Basically, I am wondering if I should take the leap to buy the Passat now or wait until 2009 models come out so that I can get Bluetooth and touch button NAV along with the new CCTA engine. That's why the price is important.
Basically, do you guys think that VW will go back to a higher lease payment once they have cleared out their inventories? Or can I expect that VW will still have decent lease deals in a few months or in the fall when the 2009's come out?
#585 of 1255 Re: April Lease Questions [selm]
Apr 19, 2008 (8:41 am)
You asked the following questions (answers are bolded)...
-What is the vw acquisition fee? $575
-Is there a security deposit required. If so, how is it calculated? none required
-Do vw leases include gap insurance? YES
-Is there a disposition fee at the end of the lease? YES, $350
I recently structured an "almost" sign and drive Touareg 2 lease for someone in NY. See my post #279...
Touareg Lease Deal by delta 737h
PS: ANYONE needing assitance with lease calculations, sign and drive leases, etc, please let me know. I'm always glad to provide assistance. You'll need to provide some specifics including your state.
#586 of 1255 Re: April Lease Questions [delta737h]
Apr 20, 2008 (4:39 pm)
Getting ready to pull the trigger on a new 2008 Passat Lux. I was offered $369/mo + tax for a 36 month, Comes out to $391/mo with tax.
12,000 mile lease
Sign and Drive program, nothing down, no VW Loyalty incentive, no trade in.
Sound like a good deal? How much more should it cost me to go to 15,000 miles on the same lease?
#587 of 1255 New TSI engine
Apr 20, 2008 (5:01 pm)
Has anyone heard about or knows anything about the new 2.0T TSI engine showing up in the latest Passats? What I know is that it replaces the BPY engine that has been the Passat for the last few years. It is completely different. It has been showing up in Passats delivered to dealers in the last couple weeks. Is supposed to be basically the same engine coming in the new 2009 Audi A4. The Audi A4 will have 211 hp. Not sure what the situation will be with this new engine. Is it a better engine? Better performance? Hard to find information about it on the web. Here is a photo of what it looks like in a GTI engine compartment. Notice the different engine cover from the "older" 2.0T BPY engine.