Located in 18052 zip in PA. Looking to lease this Jetta SE, it has everything I want but a remote starter.
I wasn’t a fan of the civic or Kia K5 I drove.
This is my first lease, so I’m curious to know how the deal is. I’m planning on putting money down because I have good driving habits and really want to lower the monthly payment since I have cash sitting around.
They gave me all the numbers except the money factor which I couldn’t find and they wouldn’t tell me. I adjusted the calculator to get the drive off and monthly numbers right and the MF came out to 0.00128
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video (How to Use Leasehackr - YouTube) to brush up on how to most efficiently use the resources here.
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from the LH Calculator - Lease Program Query or Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
@max_g beat me to it, but totally concur, same effective payment over 60-mo and you would own it. Otherwise you’re paying $17.5k on a car you would own with tax/fees for $27.5k
If I like it I can buy it out at the end for 11,680, if not I return it.
How much more will the lease cost to be able to walk away after 39 months? Do you know what I mean? I went with a lease so I don’t have to keep it
With a lease you’re paying an acquisition fee and a disposition fee, and who knows what other fees. Money factor may be higher than a promo rate offered. You have to return it with acceptable wear and tear or pay up to fix it. Should you need a change you’re stuck in a lease and I’m assuming VW doesn’t allow selling to 3rd parties. Just a couple reasons why this car may be a better purchase.
