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Volkswagen Tiguan Lease Questions

144 messages,  Last post on Nov 28, 2009 at 8:33 AM

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What is this discussion about? Volkswagen Tiguan, Car Buying, Car Leasing, SUV

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#139 of 144 leasing basics? by cs2i Nov 06, 2009 (4:16 pm)
ok, maybe there's a better forum for this question, but it does hinge on my decision to be able to negotiate a good Tiguan lease.   3yrs ago i went into leasing blind, for a CX7, which i put about 2K down plus tax, inception and whatever else they asked for... since then i've been hearing putting down money on a lease is stoopid...   i got an internet quote for an SE 4Motion, w/no options for $419/month, only tax inception down.   1. is this a good deal? 2. what are all the numbers i need to know and understand, so i can go in and sound educated? 3. how does the sticker price/MSRP and dealer cost factor into their calculating the lease cost? 4. what can i use to bargain with? i do at least want the sunroof so i figure i can use that   any guidance, even if its to a link to a better thread, would be appreciated!   thanks, cs Replies to this message: k2chad (Nov 09, 2009 12:00 pm) jseinfeld (Nov 10, 2009 7:11 am) k2chad (Nov 10, 2009 8:57 am)
#140 of 144 Re: leasing basics? [cs2i] by k2chad Nov 09, 2009 (12:00 pm)
Replying to: cs2i (Nov 06, 2009 4:16 pm) You've got some research to do. First off, never ever go by monthly payment. Your payment will end up at the END of negotiating. Best way is to find a car on the lot, you'll have a lot more negotiating power. You may give up some options you want, but it will pay off if they are not deal breakers. Don't forget that VW service doesn't care where you bought your car. Drive 10 hours if you find what you want at the right price, then have the service done at home. Here are your steps: 1) Research the invoice price. Include ALL options at invoice as well. 2) Find out the dealer incentives/holdback for the time period you are going to buy, edmunds does this to some degree, the consumer reports guide for your model is also very helpful but costs $14. 3) Subtract the holdback from the invoice. This is where you START. Realize at this price the dealer makes little money, you're going to have to give them some of the holdback likely. How much depends on how desperate they are to sell you the car. Invoice is $24,540 on a 2010 SE 4 Motion with no options. Current incentive is $750 for eastern US customers. I can't find the holdback for this month. Letting them keep $200 of the holdback is fair, and a good counter. If you really want the car, consider splitting it, you'll still be under invoice. In your case $23790 would be invoice minus dealer cash. Again, there probably is a holdback as well this month. 4) Once you have negotiated the selling price, tell them you want to lease, in your case to get the $750 you have to use VW credit, so you could be upfront about that to get to the sell price. Realize the selling price is by far the most important number in the deal. 5) Double check that the money factor and residual are not inflated. These are set by VW USA, but some dealers may choose to mark these numbers up to make more money in the deal. 6) Check every line of the lease offer, most of it is negotiable. There will be an acquisition fee of $575, and doc fee of $299. Can't really do anything about those. EVERYTHING else is there is pure dealer profit. Don't fall for scams like glass etching, pin striping, window tinting, detailing, etc. Insist on none of that. If they charge a fee for them to go to the DMV to register it, tell them you'll do it yourself. If they charge for the full tank of gas, tell them to deliver it on E. If they offer 'extra' service at 5000 and 15000 miles, show them the VW recommended service schedule. This is a lease. You don't care about long term reliability! Don't buy gap insurance without a long discussion with your own auto insurance policy. All of these things are done by the finance guy once your deal is "done" with the salesman. The finance guy is the biggest slimeball in the dealership, so go in prepared for war. Fall for nothing. Acquisition and doc fees only! 7) Once you've survived the dingy back office of the finance guy, you'll have a number, your monthly payment. You will, of course, already know this number because there are multiple lease calculators online. They are worthless unless you know your MSRP, selling price, money factor, and residual. 8) In general, you should put no money down on a lease. Car companies put out huge ads in the Sunday paper showing how you can lease a BMW or Porsche for $400/month, but if you read the fine print it is usually with about $8000 down. VW does this too, you'll see the Tiguan for $99/month. With a lot down. Don't do it. Take that money and put it in an index fund for the term of the lease. Heck, buy Google stock. Anything but give it away to VW. Replies to this message: jseinfeld (Nov 10, 2009 7:11 am) k2chad (Nov 10, 2009 8:57 am)
#141 of 144 Re: leasing basics? [k2chad] by jseinfeld Nov 10, 2009 (7:11 am)
Replying to: k2chad (Nov 09, 2009 12:00 pm) Thanks very much for this info, k2chad. Follow-up question for you: since the holdback allows dealers to profit only within the first 90 days following the car's order, how can we know how long it's been since the car was ordered? Seems like if I bring it up the dealer can say it's been on the lot for 2 months and so the holdback is reduced by two thirds, and I have no way of pushing back on that. Is there a sale or ship date on the invoice sticker or something?   Thanks very much in advance. Replies to this message: k2chad (Nov 10, 2009 8:57 am)
#142 of 144 Re: leasing basics? [jseinfeld] by k2chad Nov 10, 2009 (8:57 am)
Replying to: jseinfeld (Nov 10, 2009 7:11 am) Should be a build date on the drivers door, but this only tells you when it was built. Takes some time to get to the US, and subsequently delivered. So no real accurate way but you can likely get a general idea if it has either been just delivered, or was built 9 months ago then it has sat a while. Cars can also switch dealers. Inspection sticker may or may not be helpful. Where I am the sticker goes on after purchase. Your state may be different and that would be an easy way to tell. Just look for when it expires.   A big point about the holdback though is that, like anything, it's not that simple. There are still volume discounts and other incentives that only the dealer knows. So if there is a $5000 bonus for selling 20 Tiguans in a month and they have sold 19, you can get into a great deal, but you will never know that info nor will they disclose it.   In any case, your best starting price will be invoice minus incentives minus holdback. Shop that price around and then make incremental steps upward.   VW holdback is 2% of the base MSRP.
#144 of 144 Re: Volkswagen Tiguan Lease Questions [kyfdx] by hpej Nov 28, 2009 (8:33 am)
Replying to: kyfdx (Jun 07, 2008 8:54 am) i am trying to lease a car. i got the formulas to figure out a good deal and wanted to see if someone can help. does anybody know the money factor and residual values for the 2010 S tiguan?? are there any cash back deals right now?? below is the quote from the dealer in scottsdale, az   msrp 26,025 sale price 24525 cap reduction (2k down-$992 will go to fees and $1008 for cap reduction) residual value 14,313 money factor 0.00181 (az tax is 8.1%) I came up with $323/mo inc tax DEALER offered 349/mo DID I DO THIS CORRECT??? 39mo lease

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