Gap insurance is for when the vehicle is worth less than what you owe, so you would be negative.
In this case, we are talking about the vehicle being worth a lot more than what you owe, but you wouldnt get any of the extra money back. If you total it driving off the lot, you dont get a cent back.
To put things more directly, if the dealer structured this as a $0/mo lease and not a one pay, it doesnt matter how good of a deal it is, you should run away.
Okay, so as long as its still a lease where i make one payment of for the entire amount then it should qualify as one pay instead of me paying 0 dollars for 36 months right?
No, terms are I give them my trade in and the entire lease is considered paid.
You need to clarify whether this is a one-pay or $0/mo lease payment.
So i guess i better get that in writing. Lol. They haven’s really sent me the official lease offer yet.
Selling cars privately is very simple, many places will buy your car, I would separate out the two transactions. And if you think the trade is comparable to selling it yourself, then you are looking at $635 effective which seems high.
Then j guess my question ultimately comes down to is this a good deal then?
I would look here first
I don’t know NY taxation but is there a benefit to trading on lease there?
Looks like it does, but OP needs to establish what a good deal for his car is first then he can make an educated decision along with what @mllcb42 pointed out.
Yep that’s why I asked him to post a calc first.
Actually actively trying to figure that out. Lol, i am very unsure what number to plug into which.
There is all kinds of weird stuff going on here…I asked before what MSRP was…it isn’t necessarily the same as MVSP…also the 8000 is purchase assistance…is that the 7500 fed rebate plus other taxed incentive? What is Best of 6250 as an additional cost? What is base MF/RV for your term? They are showing a trade allowance of 14K…where does that come from/what is your Tiguan payoff?
Man, I’d really ask them to see this on an actual contract pre-signing and read every single word to see what they are doing.
And I’d do the calc with and without the trade to truly compare.
No offense but you don’t sound lease savvy so maybe research and pay a broker to help you with this deal because potentially so many moving parts.
You are absolutely correct, so I truly appreciate your input as well as everyone else’s. This is more like a tender offer and I am still pending a lease contact and definitely will read through everything before i sign anything at all. To be fairly honest I got kind of weird out as well on how they structure this deal since my previous lease experience was super simple. This is definitely the first time they try to structure some kind of deal to match the 1st dealer i went to. As for broker, I have messaged a couple but still haven’t hear anything as of right now but finger crossed.
How are they different?
You left out so many critical detais. But my gut feeling is that this is a really good deal… for the dealer.
What’s the payoff on your tiguan? What’s the KBB Fair value on it?
What the heck is “Best” $6250 on that quote?
This was answered above.
lol beats me, like i said i have the same questions that needed to be answered,
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