Deal check on VW ID.4 S lease

[AlexanderFL95]

I’m working with a VW dealer in North Florida on a lease deal for a 2023 ID. 4 S. MSRP $45,600.

A couple months ago I decided to buy a Bronco Sport instead of an ID. 4. I’ve been regretting this decision since day one and it has been highlighted even more by paying $50 every 5 days in gas.

I know I’m going to have negative equity as I have a loan for my ford (owe 46K) and I just bought it. Here’s the latest numbers I’ve been told by the sales guy.

ID.4 S RWD $45,600
Discount - $3,000
Tax Credit- $7,500
Trade In Value - $38,000
Owe on Trade - $46,000 (getting $2k back because of warranty cancelation)
Total Price : $39,500

They are saying it will be $850 a month with $4k down and 10K miles a year for 36 months.

I feel like even though I’m bringing in a nice chunk negative equity. The tax credit + discount + the money down should make the payment cheaper.

Let me know how bad I’m being screwed and what I can do.

[jeisensc]

@AlexanderFL95

I feel like even though I’m bringing in a nice chunk negative equity. The tax credit + discount + the money down should make the payment cheaper.

You are loading this deal with $222/mo + rent + tax in negative. That buys 4-5 tanks of Bronco food every month.

Start by separating the trade and seeing if you can get out of the Bronco closer to even.

List of places to sell or value your car online

For the quickest results: Copy your VIN to your clipboard and just paste it into each site. Quicker than plate lookup. Enter “I own the vehicle” where applicable — you don’t need to get into the details of your lease payoff or loan balance until you’ve eventually chosen one entity to sell to. Use a Google Voice or some other device you can turn off at will. Otherwise your real phone will be bombarded initially. In alphabetical order: Buyer Name Direct Link Review Link AutoCo…

[Detect]

Do you have a way to charge the ID.4, know what is the electricity rate, and have an estimate on how much it will be to charge it compared to how much you’re spending on gas?

$50/wk on gas ÷ $3.10/gal × 25 mpg × 52 wk/yr = 20k+ mi/yr
Are you sure a 10k mi/yr lease is right for you?

Just making sure you’re not going out of the frying pan and into the fire.

[AlexanderFL95]

I’ll probably drive more than 10k a year, though I’ll trade the car in a few months before it’s due.

Yes, I have an EA station near me and my work offers free charging.

[jeisensc]

@AlexanderFL95

I’ll probably drive more than 10k a year, though I’ll trade the car in a few months before it’s due

If you’re rolling any negative into a lease, you need to be prepared to be married to it until disposition