I am basing this off a 12k a year which for me should be totally fine for wife and I we are getting one more car when the settlement blows over I will need to find another car.
The default residual percentage in the calculator is NOT correct. I mean it may be if you are lucky, but itās just a placeholder and is not based on any official information from VW financial.
Hmm thats odd well I have been giving these VW dealerships these numbers and they are coming back with its possible and some even losing money on the deal and one dealership saying they will do anything to earn my business and can knock off a little more wont do much to payments maybe a few dollars. But basically they are saying they can do 229 and shave off a few dollars so possibly 225 would that be a good deal on a 2017 R line Passat with comfort package?
Monthly Payment (Excl. Tax): $210
Monthly Payment (incl. tax): $229
Drive Off: $716
First monthās payment incl. tax: $229
Down payment: $0
Registration and doc fee: $480
Tax on cap cost reduction and fees: $7
Leasehackr Score: 10.1 years
Disposition Fee: $350
Total Lease Cost: $8,673
Yeah it is a good deal for a new model year car. For comparison, Iām paying 210 for my 2016 Jetta Sport.
Glad to see they stopped messing around with the down payment ārequirement.ā
yeah me too I told them im not playing around HAHA not sure if that held any weight or not. I also told them donāt bait and switch If I go to the dealership and they ask me to put anything else down I will walk right out.
I personally think it is a good deal though Iām no authority on the matter.
Btw, shaving off $600 of the sale price should theoretically reduce payment by over $10. More like $13-$15.
Which may dip your payment below $200 before taxes.
And again - donāt rush the deal unless you have to. Sleep on it.
Here is another place to check your numbers:
The mod of that forum seems to be pretty responsive.
Contacted Dealership today the dealer who said yes they will do it and now they no longer can do it. Based on the dealers calculation need to put down close to 2k to get the 230 price point. They said something was completely off with the numbers later finding out the residual is 51% vs the default of what leasehackr has which is 60% they were not willing to honor the deal that I have in email saying they will. They said they are glad I did not come in yesterday and make that deal happen they would have lost a ton of money.
I donāt know you obviously, but would like to offer you some advice (if you donāt mind), after reading through some of the things you have said.
When negotiating, you really need to know how the lease works and the numbers better than the sales guys do. If you donāt know the numbers, the dealer will catch on to that and assume you are a sucker-sale. You unequivocally need to understand what makes a lease payment work.
Things you absolutely have to know to avoid getting screwed:
- Incentives
- What a good sales price roughly equals
- Money factor on the vehicle
- Residual of the vehicle
Regarding the dealer that said they are glad you didnāt do the deal yesterday, screw them! They need you! You donāt need them! That is the attitude through the whole process. You say, āoh, you canāt do the deal, this other dealer XYZ probably will. Hope you have a good year buddy!ā They will likely call back in 20 minutes. Work them all against each other until you have numbers that look good.
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As I said above, that number is not accurate. Itās just a placeholder, and the actual value depends on the specific make, model, and trim of the car, along with the specific amount of miles and months in the lease. And on top of that, it changes monthly.
Completely understand about the placeholder I guess I am upset because the dealer said yes to it and then took it back. Currently I am looking at still working out a deal with another dealership 1500.00 down for 250.00 a month not as good as a deal but waiting to hear back from dealership on it now. Iām ultimately wondering if I should wait until November 1st after the settlement we do need the car.
2017 Passat R-Line
36/12K: 51% residual, .00015 MF
Targeted incentive: $500 grad
Valid through 10/31/16.
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So you can use the information posted above to input everything into the lease calculator to find out what your payment would look like with different sales prices or down payments.
MSRP: 25440
Selling Price: 21990
Residual: 51%
Months: 36
Money Factor: .00015
Honestly it looks like itās going to be expensive due to the poor residual value.
You should check TrueCar and other similar sites to see if itās possible to get the selling price down even lower.