- #150 of 201
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Re: Getting out of a lease? [archielevick]
by Car_man HOST
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Mar 18, 2008 (1:29 am)
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Replying to: archielevick (Feb 20, 2008 5:33 am)
Hi archielevick. I am sorry to say that unless Volkswagen is running some sort of official early lease termination program that I am not aware of it is likely going to be fairly expensive for you to get out of your Passat lease its scheduled end date. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
Car_man
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- #151 of 201
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Re: V6 Touareg [mdiab]
by Car_man HOST
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Mar 18, 2008 (1:41 am)
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Replying to: mdiab (Feb 24, 2008 9:43 am)
Hi mdiab. I don't have an opinion on whether the Touareg's suspension package is worth the money, but I can give you an idea of what its current lease program is like. Volkswagen Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2008 Touareg V6 with 10,000 miles per year are .00066 and 53%, respectively. When negotiating your lease on this truck, make sure to take advantage of the $1,000 cash incentive that Volkswagen is currently providing on leases of it through VW Credit. There is additional loyalty cash on this truck is you are a current Volkswagen owner or lessee.
Car_man
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- #152 of 201
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Re: 2008 Touareg Lease [alakate]
by Car_man HOST
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Mar 18, 2008 (1:56 am)
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Replying to: alakate (Feb 27, 2008 7:16 pm)
Hi alakate. The $2,000 owner loyalty cash incentive that Volkswagen is providing on the 2008 Touareg is available through the end of the money. I personally would not be surprised if it was extended past that. Normally it is pretty expensive to get out of a lease a year before its scheduled end. Unless Volkswagen is running some sort of official early lease termination offer that I am not aware of you may be better off waiting until the scheduled end of your current lease to get something new. You can tell if the dealer that you are working with is burying part of the cost of getting you out of your lease in your new one by looking at its selling price. This is a very important number for you as a lessee to know anyhow. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what this truck's selling price is, it is difficult to tell how much of a discount you are being given on it.
Car_man
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- #153 of 201
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Re: March 2008 [tonyiamhe]
by Car_man HOST
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Mar 18, 2008 (2:20 am)
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Replying to: tonyiamhe (Mar 03, 2008 7:07 am)
Hi tonyiamhe. I have seen Volkswagen's March lease program for the Touareg. Its program varies by term, mileage allowance, and trim level. For now I will assume that you are interested in a 36 month lease of a 2008 Touareg V6 with 15,000 miles per year. Let me know if you want something different. VW Credit's current buy rate lease money factor and residual value for a 36 month lease of an '08 Touareg V6 with 15,000 miles per year are .00066 and 50%, respectively. When negotiating your lease on this truck, make sure to take the $1,000 cash incentive that Volkswagen is providing on lease of it and the $2,000 loyalty cash into account.
Car_man
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- #154 of 201
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April 15k Touareg money factor/residual
by drmst
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Apr 07, 2008 (10:01 am)
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Looking for information re: money factor and residuals for April 08 Touareg II 15k/year both 2 and 3 year lease. Either V6 or Turbodiesel.
Thanks.
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- #155 of 201
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Is this a good lease deal?
by max_anderson
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Apr 22, 2008 (7:31 am)
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I got this quote from Jennings VW in Glenview, IL:
MSRP of a V6 Touareg 2 w/Lux and Tech packages = $46,240
Terms - 48 months  12K per year, $318 down (license, title, & doc fees)
Selling price - $41,668.74
taxes - $3,362.50
bank acquisition fee - $575
Total capitalized cost = $45,606.24
Residual - $20,350 (44%)
Money factor - .00118
Monthy Payment - $604.00 (includes taxes rolled in)
What do you think?
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- #156 of 201
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Re: Is this a good lease deal? [max_anderson]
by max_anderson
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Apr 23, 2008 (12:09 pm)
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Replying to: max_anderson (Apr 22, 2008 7:31 am)
Any thoughts on the above? I've got to pull the trigger soon.
Thanks in advance.
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- #157 of 201
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Re: Is this a good lease deal? [max_anderson]
by tonyiamhe
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Apr 23, 2008 (12:25 pm)
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Replying to: max_anderson (Apr 23, 2008 12:09 pm)
Seems high to me considering I did 3 yrs, 15k, fully loaded v6 for selling price of 45k+tax and my monthly is $670 nothing down. Talk to Chris Farhnam at VW Langhorne. He helped me and is pretty honest.
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- #158 of 201
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Re: Is this a good lease deal? [tonyiamhe]
by max_anderson
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Apr 23, 2008 (12:34 pm)
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Replying to: tonyiamhe (Apr 23, 2008 12:25 pm)
I'm in Chicago so we have to pay full sales tax just as we would if we were buying it. So the $604 was inclusive of almost $3600 in tax. Do you have to pay full sales tax in PA? Just curious if we're looking at an 'apples to apples' or not.
Thanks!
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- #159 of 201
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Touareg 2 V6 Lease offer is it a good one??
by aobregon78
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Apr 23, 2008 (3:58 pm)
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I have never leased in my life, I just sold my old car and I'm very interested in a new Touareg 2 V6. I have been negotiating for over a month and I'm about to close the deal with an Arizona dealership. I think that I could be getting a very good deal here, but I would appreciate some advice, comments or any suggestions. Here is what I could be getting:
- Touareg VR6, Galapagos Color, Interior Beige
- 19's Terra wheels on vehicle will be added as per my request
- As per Dealership: MSRP $39,990.00 / Invoice: $37,280.00
- 48 Month Lease
- 20 K per year
- $369 Dealer Doc Fee (Down payment)
- Monthly Payment $490 plus TAX
So is it a good deal for a 48 month lease with 20K?
Please advise Thanks!
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