Deal-Check: Toyota Corolla or VW Jetta

Ask the Hackrs Buy/Finance
1

Location: CA

Requesting a deal-check please. Here is a screenshot

2023 Corolla LE (1852) LE
Price: 23,154
Tint added for $599
Tax & Fees included: 26801
Monthly payment: 415/month

I was told the total that I’ll need to pay to drive off the car is $2500

If I decide to purchase it after 3 years, purchase price would be: $12,503

Please let me know if this is a good deal or not…or if there is something else I should be asking for.

Thanks,
TJ

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Please tag if your question involves a specialized topic (e.g. tax, insurance, legal, shipping, 3rd-party-buyout, lease-end-purchase, lease-transfer, etc.). You will reach experts faster that way. View all tags at FORUM | LEASEHACKR.

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2

Msrp 23154
Down 2500
Payments over lease 415 x 36 = 14940

14940 + 2500 = 17440
And still gotta pay 12503 after to buy it LOL

BUY IT BEFORE @max_g cooks you

3

$17,000+ total lease cost for a car with a price of $23k.

Doesn’t make any sense

I suspect this will be the case for every car in this segment.

4

Corolla is a buy. No reason to lease these at all. There’s msrp dealer in cali. @Cody_Carter

If he doesn’t have one message me I can get them in the Bay Area at msrp

5

Heres Pricing on one in stock.

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6

There ya go. Leasehackr just saved you $2k over the lease term!

7

Region: Norcal.

I have a deal who is offering:
Jetta S, 15K Miles, 410/month (tax inclusive), 2K driveoff (all fees, etc included).

Is this a good deal?

Specify your location when asking for input on a deal! Tagging by state (e.g. CA, NJ, NY, usa-nationwide) is mandatory.

Please tag if your question involves a specialized topic (e.g. tax, insurance, legal, shipping, 3rd-party-buyout, lease-end-purchase, lease-transfer, etc.). You will reach experts faster that way. View all tags at FORUM | LEASEHACKR.

If you asked for a deal check, circle back after you have signed a deal – the community always loves to hear back! Submit your deal to SIGNED! (https://share.leasehackr.com).

8

How does it compare to the target deal you put together before talking to dealers?

9

How flexible are you on the payment? Do you really need 15k miles?

10

@max_g 17k to drive a 21-23k msrp car

south park beat a dead horse GIF

11

Nope.

10char

12

Did you read the response to your first post?

13

Yes, thank you.

I’m realizing there is no real good deal if I’m thinking to lease and then buy it out…when doing so I’m paying waaay to much extra to make it happen.

So I guess folks who lease, do so for the perk of using a new car for the first few years, and then getting another lease after that. Not with the true intention to buy it out.

I kinda changed my goals from buying it…to just getting a good deal on a lease in general.

14

I do whatever makes the most sense for the vehicle/situation at the time.

Last four transactions for me:

  • 24 month lease in June 2023 (strong lease incentives and discount on a car that doesn’t make sense to own long-term);
  • CPO purchase (effectively in cash, but I did financing and made payments for a few months to capture a rebate) - replaced by car noted above;
  • 36 month lease in 2019 with the intention of returning, but at lease-end everything was leasing terribly so it made a lot more sense to buy it out; I still have it;
  • Finance at a cheap interest rate (financed a Lexus that will probably never die; we’ve had this since 2015).
15

Look at the Kia Niro EV in the Marketplace

16

A lot of people have the notion that it’s always better to buy, and that leasing is just throwing money away. When there are no lease incentives, and the lease programs are bad, which is current the case for most non-EVs, it’s often better to purchase and finance or pay cash. But when there are incentives, and lease programs are good, which is the case for a lot of EVs, it’s often better to lease.

If you’re open to EVs, you can’t beat this:

I leased a 2020 Kona LImited for about the same price during the pandemic and absolutely loved it. But my kids were getting bigger so I needed something a little bigger. So I have this now:

If you are not open to EVs, this is around the same price as the Corolla. You can get 10k/yr for just a few more bucks. So you can drive a $41k Audi for the price of a $23k Corolla or Impreza because Audi has some good lease programs this month.