How to go into the dealer and get this $388 lease lowered or is it a fair price?
Here’s what the NYC dealer add says:
With $1,995.00 down at $388 for 36 months with approved credit . A $0.00 security deposit is required. Due at signing payment of $2,382.56 includes first month’s payment and down payment. Lessee responsible for maintenance, repairs, excessive wear and tear, and excess mileage over 10000 miles/year at the rate of $0.20/mile. . All tax, title, government fees, bank fees and vehicle registration fees are additional. Total monthly payments are $13,952.16 . Option to purchase vehicle at lease end is $20,877.00. Total capital cost of $31,975.00. Financing available through Volkswagen Credit
Step one is to read the fine print and understand the details of how they get to the proposed monthly payment. You need to focus on sales price not the monthly.
Their offer notes you have to put basically $2k down as a cap cost reduction, that’s red flag #1. Then they note that tax, title, other fees etc are not factored in, so expect to have even more money down or baked into that $388, red flag #2.
To start you need to get a full breakdown of what they are offering you. Sticker price, any discount from the dealer, any rebates VW is offering, the final sales prices and the interest rate. Then we can help you asses where there may be room or not.
Thanks I wanted to use this as sort of a real life exercise on how to do this correctly
If you already know you want this car then don’t even bother going in to dealers, just email a few for quotes with comparable units and you can start assessing for yourself. Post up the best offer here and people can weigh in.