Looking into leasing a 2017 Passat R-Line. This is what I got today from a local dealer. 36/12k lease. $1000 down $283 month or $2000 down $253/month. What do you guys think?
Year, Make, Model, and Trim: [2017 Volkswagen, Passat, R-Line]
Assuming you’re new, here’s a quick FAQ that I think may be helpful.
Generally, never put money down on leases
Q: Why should I not put money down on a lease? It brings my monthly payment down!
A: Because it’s a stupid risk
Keep the “1%” rule in your heart, mind, and soul
Q: But kmdukez, what is the 1% rule? I’m not a 1%er? I live a modest life and just want to buy a car and I’m not even a registered Republican?
A: Great question. The 1% rule means that your total monthly payment with $0 down should not exceed 1% of the vehicle’s MSRP. In this case, your goal should be at least $0 down and 253/mo.
If there are no rebates, the vehicle probably doesn’t lease well.
Q: What are rebates and why do I need them to lease well?
A: Rebates are offered by manufacturers to incentivize the lease. Without them, the delta between selling price and residual is often times too high, so your monthly payment will inevitably be high, too.
Good luck! It may not be possible so you may need to be flexible if you’re set on that car - I don’t know much about VW rebates and incentives. Perhaps someone else will chime in who is more familiar.
The Edmunds forum shows a base MF of .00001 and $3,400 lease cash. So you probably have a bit more room to move them down. If they will give you the base rate, looks like a potentially nice lease.
I did mention that I wanted that vehicle for a lease when I called and made the appointment, and he did say the cars were discounted, but didn’t specify the $7K. Will know when I go up there.
They also have a used 2017 vehicle for sale that’s the same exact version of the car I’m looking for, with 7952 miles, priced at $20,689. Any experience or benefit in leasing a used vehicle? It’s currently priced higher than the new one!
I did mention that I wanted that vehicle for a lease when I called and made the appointment, and he did say the cars were discounted, but didn’t specify the $7K. Will know when I go up there.
They also have a used 2017 vehicle for sale that’s the same exact version of the car I’m looking for, with 7952 miles, priced at $20,689. Any experience or benefit in leasing a used vehicle? It’s currently priced higher than the new one!
