2020 VW Tiguan SE 4MOTION AWD (state of MA)

Ask the Hackrs
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1

I’m having trouble understanding if my deal and dealer is good or not.

$355 a month (after $3000 down)
39 mo
15k miles a year
Cap cost: $26995
Residual: $13975
Open ended (which I don’t like. That puts the risk on me right?)

I have asked three times: 1) in person 2) by phone 3) by email about the money factor, and they won’t tell me what it is. The only answer I’ll get is “this is controlled by VW, we have no say”. They say the same when I attempt to negotiate residual value and cap cost. Similarly, I’ve also asked at those three times for a 36 mo lease, and whether that would improve the residual over the 39 mo. But they haven’t mocked up the 36 for me.

So I’m kinda left wondering a couple things really.

Is this a good deal?

Is this a good dealer?

I’ve never leased before. Only bought used. Thanks for any advice.

2

Walk away.

But you also need to read the articles on this site explaining how leases work and how to calculate payments yourself

3

Thanks. I’ve been reading them, that’s how I knew to ask about the inputs instead of the monthly price. Trying to use the calculator, but it comes out about the same as the above deal, so maybe the deal is good?

4

Is what they said about VW owning MF, residual and cap true?

5

Not enough info to evaluate the deal, if a dealer keeps ignoring your request for a certain term then move on. You should be reaching out to multiple dealers anyway. Tiguan’s aren’t leasing particularly well, might want to look at other vehicles. As far as open ended, that doesn’t even make sense, nothing is like that anymore, somebody probably doesn’t know what they are talking about

6

Post the link to the LH calculator with your inputs filled in.

In the future you never want to reach this impasse again where you keep asking for the MF

You should be able to make an offer based on your own research (including getting the buyrate MF from Edmunds) or deconstruct their offer by knowing all the inputs except their MF.

7

Here is what I know. MF was something I fudged to get to the monthly payment he’s showing me. Not sure about the other fees yet.

Residual seems so low.

Thanks for the patient advice.

8

Residual is set by the bank and not the dealer. MF is set by bank too, but dealer can mark up for additional profit. Cap cost is negotiable since it is based on dealer discount.

9

It’s almost always buyrate MF (found on Edmunds forums) or buyrate with max markup (the max allowable markup allowed by any captive/bank can usually be googled, eg with BMWFS its .00040).

In your calculator the dealer doc and gov fees look like default values and are very unlikely to be correct for your state.