Ya but that money factor is marked up…by a lot…
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Does it really matter when the lease is cashed out in two weeks? At least mine was 2023 ID4 Pro S goes for 51k. I got the same car but did the 2022 and that had the lower sticker of 47k as it was preincrease then I got the dealer to sell to me for 43k. After that I got 8k in rebates off the lease… with my lease start payments and stuff ended up buying the car for 34.5k plus TTL. I think an amazing deal especially when you don’t normally qualify for the EV tax credit.
What’s the point of buying it out immediately? Reselling it for a profit, or just a better deal than purchasing outright?
Capturing the $7500 tax credit without paying the rent charge.
Especially useful approach if your income level is too high to take the $7500 credit at end of year with a straight purchase. :0
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Or if you get a 22 id4 that doesnt qualify at all on a purchase
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What is the OTD or buyout for you. How much does tax and title add up ?
I was at 36k with tax. I am still awaiting my title as I think I’m going to get some back when I go to the DMV.
And how does tax work on buyout. Is there tax on the 7500 rebate ? What would be the value of car on which you get taxed.
Tax on rebates is a state dependent thing. You pay sales tax on the 34k purchase price in my case.
Thanks for the response . So tax and title and miscellaneous expenses are approx 1k and when you buyout the loan would be for 36k + tax on 36k (state specific) assuming zero downpayment .
No other fees to buy out the loan. See my signed post with calculator about the upfront fees. Those are paid at the beginning there is an acquisition fee charged to imitate the lease for example.
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In my case (CA), my OOD should be 35435+3999+ tax for $176xx, but I am still waiting for the final confirmation from VW, will share here after I finished
Hello all! First time post, recently joined Leasehackr. Using the same approach of buying out lease immediately.
In this case, does it make sense to pay taxes, title, registration cost up front, or to roll into the monthly payment. Hope this question makes sense. Appreciate any advice.
I think you need to check dealer if you can do that, but for buyout I feel the difference is not big
Yes the ramaining future payment = 35 * monthly payment
I already listed buyout quota in the screenshot and I only paid another 3999 as downpayment for lease. For tax I am still waiting for my title so will know the eaxct number at that time but as I replied before total out of pocket should be 41k
That is refund of interest
BTW just got an email from Dublin VW
Get a $4500.00 Dealer Discount, $7500.00 Lease Cash and a Complementary L2 home charger PLUS 3 years of free charging with Electrify America.
Thanks! That’s great news. Thanks for letting me know. Btw, I just checked their inventory and noticed there is still one 2022 PRO S in blue left. It might be a good deal. We only look into white but whoever is interested is welcome to grab one of the few 2022.
FYI, that 2022 is no longer there. I asked about it last Thursday. I’ve found dealers aren’t discounting their remaining 22s more than the 23s for whatever reason.