Last post on May 15, 2013 at 2:37 PM
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Volkswagen Tiguan, Car Buying, Car Leasing, SUV
#9 of 603 Money Factors
Oct 14, 2008 (10:08 am)
Anyone know what the money factor is for the 39 month lease they are advertising with the 0 down event? How much would it be for 48 month lease with same deal? Also, what would be the depreciation percentage for residual value on 39 month lease and 48 month lease?
Looking into getting a Tiguan, but want to play with numbers and make sure I get a good deal with prices. Thanks...
#10 of 603 Re: Money Factors [elgupaso]
Oct 14, 2008 (3:39 pm)
Definitely get all the numbers, preferabley in writing. You don't want to lease over 36 months. 48 month leases are about as smart as buying the 5 year extended warranty on your toaster.
Here's the current JOKE...errrrrr...current deal:
FROM VW WEBSITE: $369 a month 39 months, TAX NOT INCLUDED. Based on MSRP of $24,990 for a 2009 Tiguan 2.0T S with Automatic Transmission, excluding title, taxes, options and dealer charges. Monthly payments total $13,642. Requires dealer contribution of $341.96, which could affect final negotiated transaction. Purchase option at lease end for $13,244.70. 39 month lease, $369 per month.
Your payment including even 7% sales tax would be $385.
YOU COULD BUY IT FOR ONLY ABOUT $15-20 MORE. Don't lease this vehicle. In my opinion VW has very few lease deals.
#11 of 603 Re: Money Factors [elgupaso]
by Car_man HOST
Oct 20, 2008 (5:59 pm)
Hi elgupaso. VW Credit's current buy rate lease money factor for a 39 month lease of any 2009 Tiguan is currently .00135. Lease support is available on 48 month leases of this truck, but the money factor for that term is a slightly less attractive .00184.
VW Credit's 39 month, 12,000 mile per year residual value for an '09 Tiguan S is 53%. The residual value for an otherwise identical 48 month lease is 47%.
Remember that VW is waiving the first month's payment and security deposit on leases of '09 models during the Sign Then Drive Event.
Prices Paid: Buying & Leasing Experiences Forum
#12 of 603 Re: Money Factors [Car_man]
Oct 22, 2008 (6:48 pm)
this is a good time to lease the tiguan. i'm looking into it myself. at invoice less $1000 family discount with nothing up front except dmv i am looking at like $430 a month on a SEL with navi, panorama roof. i am not sure if the bank fee is included up front or it is covered under the sign then drive but regardless it is a good deal. final cap cost of 33264 with the $1000 owner loyalty discount.
low mf pretty good residual + good time to lease. make sure you work out a good cap cost and you got yourself a nice deal.
#13 of 603 Re: Money Factors [aramism]
Oct 22, 2008 (9:24 pm)
What is the lease term? Sale price? NET Cap cost? Money Factor? Residual? I really don't see how that deal could be legit. This is the official deal from VW webstie. I don't see how you could lease a $36K Tiguan for only $440. NO WAY.
HERE'S THE DEAL FROM VW
$359/Month. 39-Month Lease
2009 Tiguan 2.0T S with Automatic Transmission
$0 Due at Signing
(excluding title, tax, options and dealer charges)
Or, see your local VW dealer for one of the many other great lease deals available on Tiguans.
©2008 Volkswagen of America, Inc. *U.S. cars only. Based on MSRP of $24,990 for a 2009 Tiguan 2.0T S with Automatic Transmission, excluding title, taxes, options and dealer charges.
#14 of 603 Re: Money Factors [indianajohns]
Oct 22, 2008 (9:28 pm)
$1000 under invoice
$34,196 is invoice (SEL 4motion, black, navigation, panorama)
so NET cap cost is $33,196
MF .00135 RESIDUAL 56%
39 month lease. taxes in lease. NY state.
$430 a month.
i'm not sure about the bank fee i forgot to write it down in my notes. this was almost a week ago but i'm pretty sure it was up front. though if it is covered by the sign then drive event they have then it is not. but like i said, it's not a big deal since the first payment is not covered. so worst case i am paying like $595 + dmv ($90) out of pocket and driving away. the deal makes sense financially. it is the $1000 owner loyalty plus the fact that i got them to lease the car out invoice. you just tell them look you can spend 3 weeks see-sawing between every dealer within 50 miles until it comes down to invoice anyway or save your time and let's get it done now. works most of the time, at least for me it has.
#15 of 603 Re: Money Factors [aramism]
Oct 22, 2008 (9:33 pm)
What's MSRP? Invoice doesn't matter. You don't need that to figure it out. Also, what's your tax rate?
#16 of 603 Re: Money Factors [aramism]
Oct 22, 2008 (9:38 pm)
Also, if invoice is $34,196 and NET CAP COST is $33,196 because of $1000 loyalty cash, where are your taxes? In NY don't you include taxes into lease, not just added to monthly payment? I'm sure I've heard numerous NY people complaining about this. If so your NET CAP COST can't be lower than INVOICE. You'd easily have over $1000 in taxes so you're back over $34,196 NET CAP.
#17 of 603 Re: Money Factors [aramism]
Oct 22, 2008 (9:45 pm)
In New York State, the full sales tax is collected on that $16,000 (DIFFERENCE OF MSRP AND RESIDUAL in example lease) at the beginning of the lease. In some states, however, the sales tax is just added to the lease payment on a monthly basis.
http://www.nydailynews.com/money/2007/08/28/2007-08-28_paying_sales_tax_on_lease- - d_car_drives_a_-2.html
So again. I don't see how you are getting your $440. Not that any of this matters. This whole conversation has been based on a quote you received. You didn't get the car yet. When you do please post the numbers. Until then I don't think it's possible.
#18 of 603 Re: Money Factors [indianajohns]
Oct 22, 2008 (10:30 pm)
the MSRP is $36,920.
the tax rate in NYC is 8.625% (this makes the total taxes on this about $1400 i think off the top of my head
so even with the upfront (the tax sum being added into the cap cost) i am still getting a payment of $429.
you can check it yourself on an auto lease calc. there is a $2 difference in payment when you pay the taxes "in the lease" like you said or "on top of the payment" like in other states. regardless, i don't think $2 a month is that big of a deal.