Hey Everyone,
First-time car shopper here. I was hoping for some feedback on a lease quote that I was given to see how good or bad of a deal it might be. My guess is that it is “good.”
I was given the attached lease quote for a new 2019 E-golf SE. Incentives outside of the lease include CA utility and EV tax credit, which comes out to about $2800. I hear that I can perhaps become a member of SCCA to get another $500 off through the VW partner program, but I’m not certain yet. This was the first and only offer given to me and so I have not negotiated at all. I was considering to not pay a down payment because I heard that I will not be saving any money on this and instead might lose it if I get into an accident in the first 30? days. I’m not sure though.
On a side note, I currently have a car that is fully paid off and I spend about $80 to $100 each month on gas for my work commute. So, I guess I factored that into the cost of the new EV on how much I’d be saving since I can charge the car at work.
Please feel free to ask me to provide any other info and I will try to get it.
Cap reduction is frowned upon. Find it funny you can do MSDs with Audi but not VW, oh well.
What you heard is sort of correct, don’t put that money down, if you get into an accident ever and the car is totaled, it goes poof, not just if you crash within the first 30 days.
The discount isn’t bad, I’ve seen Cali brokers do a smidge more, but don’t die on a hill for it, and we’re in weird times, so it might be the limit.
Just do some more hw, confirm incentives, rebates, and rv from forum.edmunds,com , and throw a lower offer at the dealer (don’t be too outlandish, but who doesn’t like saving money?). All in all, nice job, if you want an e golf, it doesn’t look like to be flaming garbage… you did better than the 345/month 11k das Audi.
Edit: best broker for Cali on an sel (Different trim i know, only one I could find), is 9k off a 39k msrp. 310/month + tax 1500 das.
Edit 2: JFC, that residual, it’s worse than an iPace, I’m going to need eye bleach.
Edit 3: Apparently you can do VW MSDs, calculator update incoming? Thank you @Jon
1 Like
Yeah, the uncertain times seems to be what’s throwing me off a bit. Like you said, I too have a seen similar offers made to others with a tad more discount. Still, I’m a little more than okay with the deal.
Are you referring to my residual? If so, I too noticed it was lower than other quotes that I have seen. This of course is based on the little research that I have done.
It’s low for the car, from my limited knowledge on this car, it seems right, as it’s to be honest flaming garbage, and gas —> ev conversions have low residuals to begin with. For reference an Audi etron has a 36 month residual of 49% at 10’, 56 at 24/10k and a Jaguar iPace has 42% for a 36/10k lease. Your residual value is lower than almost anything I’ve ever seen.
In my opinion, this is too much for an EV in CA, especially considering the Chevy Spark EV deal a couple years back, the $100 Fiat 500e deal a couple years back, and the $8500 Bolt deals in Jan. The Spark and Fiat were free or close to free after state rebates.
I would wait for better numbers on other EVs, unless you are dead set on the eGolf.
eGolf has never leased well. Low residuals.
Edit - forgot about $100 Ioniq back in Fall last year too. FWIW, eGolfs were going for 11k off last June before incentives.
Right. I was considering waiting to see if the 2020 ioniq EV would present any deals since it also in that minimum 120mi drive range. Like I said, I have a paid off car now and so I don’t think it hurts to wait.
As for the lease offer, I guess I can try to see if I can get a higher discount. I love and hate seeing that 11k from last year.
The residual is not something that can be negotiated is it?
Prices could drop, but I wouldn’t let the fact that a Chevy Spark was cheaper two years ago change today’s decision. My well equipped 2017 Volt had an effective payment of around $150, but that didn’t make $250 on a 2019 a bad deal.
Seems pretty solid with an effective payment under $200 a month. Maybe you can do better in the future, but I doubt you’ll see $100.
1 Like
Prices for eGolfs have been in this price range since 2016. They haven’t dropped and I don’t expect them to.
EVs have consistently been the best lease deals in CA due to post-sales rebate stacking. Plenty of examples on this forum where you don’t need to spend $7k+ on total lease cost.
Residual is set by the bank.
1 Like
I didn’t see it in the calculator, thank you for correcting me!
I assume that, if I can afford it and am comfortable doing so, it would be in my best interest to do MSDs correct?
If I did the math correctly using the lease calculator, I’d be saving $612 if I paid the entire lease amount upfront, if this is meant by MSDs.
Edit: … which I like. The more the merrier.
MSD’s and One Pay lease are two separate things though both will save you money. Keep in mind the caveat on one pay leases is that you are taking a risk on money evaporating if something happens. With that being said I still did a one pay lease so I would certainly look into risk / reward and go with it.
Although I know your in Nor Cal and @rubbergash is a dealer in So Cal, have you checked his spreadsheet for comparison purposes?
May 2020 SOCAL Subaru and VW Lease Hacker Deals
1 Like
It only took me an hour to forget about that. Thanks for reminding.
I checked and, while I’m looking for the SE trim, the SEL trim showed in the spreadsheet is fairly similar to the deals offered in Nor Cal. This is a good reference, thanks.
It just feels like a coin flip to be honest. It does not seem to be a great deal, but at least good. I have the luxury to wait out another good deal, perhaps on the 2020 Ioniq EV, where the residual seems to be much higher on those, at least for now.
But then you would be driving a Hyundai…
2 Likes
Not to be that guy, but one pay’s are different than putting money down, it’s handled differently if the car is totaled.
Would be pretty stupid if you put 20k down to lease a nice car, then get rear ended and loose all of it.
The comment was in response to the OP where it looked as if the two terms were being conflated.
As mentioned I looked at the risk / reward scenario for my situation and did a one pay lease in December, it was $7477 though.
I was confused with
that money to my knowledge, is handled differently than money say put DAS.
Allot more range on the Bolt, doesn’t require plugging it in every day. Get any quotes on one or drive it?
To be honest, I have never driven an EV. As for the Bolt, while it does have a higher range, I decided not to pursue because of the 2-3k higher MSRP. Still, it does not hurt to check if it means I might get a better deal. For now the E-Golf and Ioniq EV are my current targets due to their 120mi range, but it seems both are becoming harder to come by. I was also considering a Leaf (>.> <.<).
In the meantime, I’ll make a request to negotiate with the dealer for this lease offer and see what happens. It can’t hurt (can it?).
Besides, I feel I don’t need to force it, which is nice.
