Signed my second EV lease for a 2024 ID.4 Standard Range thanks to the help of the forum:
MSRP - $41,541.00
Dealer Discount - 16%
Incentives/Rebates - $7,500
Money Factor - 0.00041
Residual - 58%
Lease Term - 24mo/10k
Tax Rate - 6%
DAS - $0
Payments: $338/mo
I only called a few dealers before landing on this one - but most quoted me in the $350-$370/mo range with $0 DAS.
I don’t understand how an ID 4 standard is advertised at $150/ mo.for 7,500 miles and 24 months. Add a bit for 10,000 miles then taxes and fees makes the price double? Seems like false advertising?
Agreed. Checked out 3 different dealers all had the ID.4 standard “sold out” in a day since the ad came out, even though websites were still advertising a couple on the lot. Got quotes for ID.4 pro 438 and higher with 3k down. Dealers refuse to apply any rebates/incentive except the 7500 ev and don’t seem interested in negotiating. This is in NC.
@PaddyO Manufacturers use the $150/mo as bait to get you in the door knowing you’ll never get close to that unless all the stars align and you qualify for every discount on a car that’s a loaner or been sitting. Even in a great scenario VWs current advertised deal comes out to effectively ~$190/mo for 24/10.
That said, lease rates are higher here in MD since we’re taxed on the sales price instead of the monthly payment. I’d be closer to $280/mo all in if I was in DE or somewhere else.
@vv714 sorry to hear that. At least where I am there’s more demand for the higher trims since they have more range. Thanks to the stop sale most of the larger dealerships here have lots of early 2024 ID.4 stock that they’re trying to move.
Update. Found an S in Lafayette IN. $262/mo, 1692 Das, 24 months 10,000 miles per year.
Tried about 7-8 dealers. In each case, by the time I got done negotiating, the car was gone. Including having an appointment canceled the night before on a PRO $309/ mo 0 Das 24/10,000.
Was your initial offer 6% off msrp, or did you settle on 6% since they bumped the MF up from .00001 to .00041?
Also, did they charge you 6% tax on any of the $12550 incentives/rebates ($7500 + $5050)?
Good questions Keif. I’m not sure, I’ll get you better details when I sign on Saturday. I paid the taxes and fees to hold the car, that’s why I have the 1600 ish due at signing.
They did say my 685 credit score was Tier 3, so maybe that’s why my $ factor is higher.
FYI the picture attached says 12,000 miles, but that’s an error. It’s 10,000. Supposedly IL taxes included, but may be IN, about 0.5% difference (IL is higher).
The regional/national $150/mo id.4 offer excludes the few thousand dollars in fees that most advertised offers include in the “excludes tax, title, license, and dealer fees” fine print. Being tier 3 certainly doesn’t help your deal, but an effective $330/mo doesn’t appear like a bad deal otherwise.
I didn’t go in asking for a specific % - I only asked to see what the best they could do was. I calculated that 6% based on what they came back with after a few rounds of back and forth.
I generally don’t try to haggle to hard so I may have been able to get >7%. They’ve got a business to run and I’m ok with leaving some money on the table if the final monthly is still in my budget.
The 6% tax is on sale price before incentives unfortunately which makes leasing in MD less of a good deal than other places.
Here’s my offer sheet for comparison. Tier 1 credit but you can see the MD taxes skew things quite a bit.
Maybe I need more coffee…but that deal looks a hella of a lot stronger than 6% off if they discounted the car $7550 (plus the $7500 EV credit) and sold you the car for $26k before the typical fees
Did you get it at Fitzgerald VW by chance?
Also, I think what they did was give you some of the $10.5k plus $7500 EV and standard MF, instead of the .00001 MF and $5850 cash & $7500
Looks like my math was off. It was actually 16% off MSRP total. I’d rolled the $5050 into the taxed incentives instead of into the discount.
I’d gotten it from another dealership - I’ll DM you.
Here’s the calculator with the correct numbers:
MF is .00001 not .0001
Calculator seemed slightly off. Your MF is 0.00041
Here’s the one matching your contract with a payment of $338:
What is the $5050 incentive? I found it at only one local dealer and am not sure what it is.
It is a dealercash. 5050 for standard, 6100 for S, 5850 for Pro.
I stand corrected. My credit score was 703.
This is what dealer told me on ID4, do not really understand what they are saying. They have ID4 S with navigation not regular S, so I asked what will be capitalization cost on the one they have in stock.
My email before their response:
“Yes I understand it would not be exactly the national advertised monthly .
The advertised capitalized cost is $31,364.43 according to VW website.
I did notice the one you have in stock is with navigation which I assume is what bringing up the price more than the standard ID4 S .
What capitalization cost would I be looking at for the vehicle you have in stock”
Their response:
“We can get the adjusted cap cost to the same as the S model, or you can get the incentived lease special.
We can’t do both.
If you went with the adjusted cap cost route, the payment would be close to $300/mo with approved credit
Or,
If you went the national leased incentive route, it would be $339/mo, with approved credit. “
Are they saying either they will only give a discount or the 7500 lease incentive not both?
I think, they were willing to wheel and deal a few weeks ago when the stop sale was lifted, now they are low on inventory and don’t want to move them at discount prices anymore.
I had a 2300 down and $196 for id4 pro, waited 2 hours, car was sold, then next unit shot up to 2300 down and $230 a month.
All this negotiation via text and get texted back, that stock just got sold, we have a couple customers onsite now trying to get id4, you need to come in balh blah for best deal
Ah I got you, Im not that interested if they dont want to discount them anymore.
The car on their website had 10,500 in dealer discount but seems they dont want to offer that on a lease deal.
