Great forum! I’ve learned a lot here in the past couple of weeks.
I’d appreciate input and tips on a possible lease of a 2017 VW Alltrack SEL.
MSRP of the vehicle I’m looking at is $36,125. So far I’ve gotten the sales price to $30, 351. The Cap cost, with Acquisition, Document, and govt fees is currently at $31,632. I will try to get this down further, but I think I can save more focusing on the MF and residual.
As of Jan 10, Edmunds quoted MF of .00001, and 24 mo. residual of 62%. These are nationwide numbers.
The dealer claims that his numbers show 24 month residual of 58%. Is it possible for the residual to drop 4% in 2 days? Any suggestions for how to approach the dealer on this?
The dealer claims he is giving me the lowest possible MF, though he hasn’t told me a specific number. But when I plug the numbers into the Leasehackr calculator, the MF that makes everything else match his quote is .00153 (3.7 % APR as opposed to effectively 0 with the Edmunds MF).
The monthly payment differences are big:
The dealer’s quote, before tax, was $512.
With all of his other numbers, but using Edmunds’ 62% residual, I get $412.
With all of his other numbers, but using Edmunds’ .00001 MF, I get $392.
Using the dealer’s price numbers but Edmunds’ MF and residual, I get $332.
I’d appreciate any suggestions anyone might have on how to approach this with the dealer. Thanks!
and just fyi, here’s the quote…
I probably wouldn’t even bother replying to the dealer, he is just trying to rip you off. First of all you can probably negotiate a better discount on an Alltrack. I know regional markets vary but here is a local price from Colorado without even negotiating:
36 and 48 month terms seem to be better as VW USA and VW dealers are advertising lease specials in those terms. All in all with more than 20% off MSRP and super low money factor you should easily be in the low $300s if not lower no matter how crappy the residual might be…
You might want to look into a Subaru Outback instead. It leases much much better than this. There was a topic about it recently IIRC. With that low of a residual and minimal rebates, the chances of a good lease are slim
Thanks for this. I had actually contacted that dealer about that exact car. He told me the sale price listed there is only good for purchases, not leases, because of different incentives for the two. Of course I would try to get them down that far, but that’s been tough so far. I’m just getting started, though…
I’ve looked into outbacks after getting your message, and wow, there’s a big difference. Residuals are much higher. You’re right, that might be the way to go. Thanks!
Yeah but there is a $1,600 lease cash, which probably replaces some purchase incentive that doesn’t apply for the leases. Shop around and I guarantee you there will be a less than 1% deal available somewhere. They have been discounting the 2017 Alltracks heavily and there are still a ton of them left on the lots…
Thanks for the tip - I’ll look into it.