I have included a picture of the current dealer lease promo for the ID4 Pro ($349/mo, $4999 DAS, 36mo/10k miles per year).
Am I entering this into the calculator correctly? The $7500 post-sales incentive is from CVRP.
Would buying out a lease immediately affect CVRP eligibility in any way?
How would I go about estimating the buyout price for this?
I can almost guarantee this is a terrible offer, and I don’t know anything about the market for this car.
How? It’s an ad with a teaser payment and a bunch of mouse print.
I have no intention of actually leasing the car, hence the buyout. Am I wrong in assuming that this is a valid way of getting the $7500 fed ev tax credit that I wouldn’t otherwise qualify for?
There’s been other discussions on here of immediate buyouts on the id4. I’m no expert on the process, but I am also looking into the id4 in norcal right now. Only 2 things I would note:
look for a dealer discount on top of the EV credit. I’ve seen bay area dealers advertising $4500 off MSRP on their website! So I imagine you could go even further than that
some of the credits will be lost to the various lease fees (acquisition/dispostion) but its still a great deal if you can stack the extra discount
And my only question - do buyouts even make sense when loan rates are around 6%, and VW’s current MF is .002 which is 4.8% apr? Honest question - not sure how to do the math on that. Unless you’re paying cash of course, then it’s clear (I just can’t relate because I don’t have $40k sitting around to throw at a car haha)
Lease buyout rates might be even higher than 6%. Even if you had a loan at 4.8% though, once you’re leasing it might not make sense to buyout right away unless you’re paying a decent portion in cash so that you’re not paying interest. Staying in the lease you’ll have the option to return in 3 years if, say, the car is in an accident and loses a lot of value. You’ll still have the option to buy at lease end.
That’s pretty much the way I was leaning, especially since the id4 is somewhat on the fringe of EV relevance (ie its not a good deal without all these discounts) so who knows if it will hold value with all the new cars and tech coming out
Plus less paperwork to do all at once!
the id4 is somewhat on the fringe of EV relevance (ie its not a good deal without all these discounts)
Can you elaborate on this point? I’m just jumping back into booting my brain up for car stuff and was thinking about an id4 to replace my BMW i3. Is the iD4 no good? Is there something else I should be looking at?
Thanks!
Ioniq 5 deals started popping up today.
I’m not sure I understand either. I believe ID4 outsold Mach E, Ioniq 5 and EV6 in Q1. (EDIT: Didn’t realize Q2 sales are out - ioniq 5 and Mach e outsold it by about 30% in Q2.)
I’ve had an ID4 for about 2 years. It’s a very reasonable family SUV for us - not at all a drivers car, but spacious, quiet and comfortable with a couple livable (but dumb) quirks like the rear window switches. Crazy good turning radius for the city too. I’ve grown to like it more the longer I’ve had it.
The reviewers seem to prefer the others. I’ve only driven the Mach E - the others weren’t out when we were shopping. Very different character. There’s lots of YMMV and it’s probably early enough in EV world that depreciation will be lousy on all of these so better to lease when the numbers work out.
Honestly I don’t really remember exactly what I meant by that comment, I think just based it on perceived popularity on the internet and some of the various complaints about it
That said - I leased a Pro S RWD last week and we love it! Perfect size for my family of 4 with 2 car seats. It drives super smooth and quiet and the RWD has plenty of power for us. Saw a lot of debate about RWD vs AWD but I’m glad we went for the savings
We leased with the 7500 tax credit pass through and a $5000 dealer discount. Made our 3yr/7500mi lease come to 515/month with 2000 DAS. Super happy with the deal!
If anyone is on the fence about the iD4 I highly recommend just going for it. We rented a Model Y for a week in hawaii and honestly think I like the id4 better (minus all the software stuff) - certainly for the price!
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