I’m looking at leases on 2016 Golf R’s and GTIs. I was hoping to hear about recent lease experiences for either of these models in the Los Angeles area (willing to head to Long Beach or even San Diego if there’s a dealer worth making the trip for). Could you share your lease details, and what dealership / salesperson you worked with?
As background, my closest dealer recently ran a special for a Golf R lease: $2,500 down payment, $330 per month. It looks like Golf R’s have a 69% residual for a 36 month lease (seems high but not unreasonable for this model). I checked with another dealer in the area, and they basically laughed at the offer, despite the fact that they’re part of the same dealer group. How’s that for professionalism. They told me Golf R leases are “$799 and up.” They want $5k market adjustments, which I think is ridiculous - puts a Golf R above starting MSRP of an Audi S3. I suspect they’re just fishing for uninformed consumers who will pay the markup and simultaneously sign up to unfavorable lease terms. Hoping to learn of a more reasonable dealer in the area.
I too, am looking (not for an ‘R’ however), and have spent a considerable amount of time searching the entire country. Also posting here and there, asking, etc. Whatever the reasons, no killer deals as of yet (at least for what I am looking for, '16 GTI-S 2 Dr, Black, 6 Speed, Performance Pack and LED package). That config is around the $28k MSRP, and given the anticipated, expected 9-14% reduction off of MSRP with a low MF for a lease, the numbers just do not compute. Asked before, did not get a straight answer, if I cannot apply multiple security deposits to lower the MF and price, and I’m advised to NOT put money down, how does one achieve a lower price and negotiate a better deal from the standard deals?
I was told by the dealer that the money factor for performance oriented vehicles from Volkswagen is higher than it is for other models. What is the MF for the R and the GTI-S?
I’ve been making some calls today and was quoted .000188 from a couple of dealerships for Golf R money factor. That was before a credit check, so may be able to go down a bit if you have top tier credit (which I do). Residuals look like they vary from 66% (12k miles) to 69% (10k miles quoted by a different dealer).
I also found a dealer (Bozzani Volkswagen in Covina) who is not charging a markup on Golf Rs. Pacific VW, Santa Monica VW, and VW of Pasadena all were talking huge markups ($5k for the first 2, $6.5k for the third), but started waffling instantly. With over 40 Golf Rs available in the LA area (2nd year of sale), they really shouldn’t command this kind of markup. VW of Pasadena actually tried to tell me that their $6,500 markup was one of the lowest in the area… just a flat lie. Recommend caution when working with them - you can still probably find a reasonable deal, but they’re surely out to get you.
Long story short, I don’t think any killer deals are available for GTIs, but I think you should be able to get a good one with a break on the sale price (with the right dealer).
The MFs for GTI and Golf R are .00125 and .000188 respectively.
Sadly, performance cars generally aren’t very good deals. Inventories are limited, and automakers know these models have a loyal following regardless of pricing.
I’d love to lease a Focus RS myself, but Ford Credit doesn’t have a supported lease program for it.
Yes deals can be had on GTI’s based on reduced sale price. They do have good residuals just need to get north of 5.5k off from MSRP …which is doable with loyalty and VW partner program bonus.
That’s great news, however, any direction where and how to get it, or just wait it out?
Again, although quite a few dealers offer a considerable amount off of MSRP as you say (spaceworm), if you finance, not lease. How do you get them to honor THAT buy price for a lease?
These procedures are driving me nuts!
Just popping in to update my research. Golf R has pretty poor lease terms and dealers who wouldn’t dream of going below MSRP for the selling price.
Audi S3s typically cost 5k or so additional compared to a Golf R DSG, but you can get a break on the selling price, better lease terms, and some significant incentives. Long story short it looks like it’s actually significantly less expensive to lease the more expensive, nicer S3 compared to a less expensive Golf R based on the same platform/engine/etc. Go figure…
I’m actually in the exact same boat. I was looking for an MK7R but can’t even get to test drive one, let alone get a decent lease rate on one. The S3 is available everywhere and at better rates. I’m on the east coast but was offered $485+ tax with $1500 total out of pocket on a 2016 S3 premium plus with the sport seat package and B&O Audio system, from a leasing company that delivers nationwide but is in Southern California. This did include the $1250 conquest cash rebate for which I would qualify.
What kind of rates are you getting on the S3?
I think I’m gonna look for a base S3 with no packages, but in Sepang Blue.
I quickly found a dealer offer on TrueCar for just over 8% off MSRP- I’m in Southern CA. It included a USAA $200 discount and $1,250 new owner acquisition cash (true car bakes this into the price, but I pulled it out when using the leasehackr calculator). Given the S3 residual and MF (with max MSDs) it put the with-tax payment at somewhere around $480.
I don’t have the detailed numbers with me, but I’ll post here in the next day or two so we can compare notes.
Ok, hi- sorry it took me a few days to get back to this (and apologies that we’re now off topic onto Audi S3s). The TrueCar savings certificate for the S3 that I spec’ed came from Audi Auto Gallery in Woodland Hills, CA. The only option is the LED Lighting Package. The price they show is $39,679 on a $44,675 MSRP. Keep in mind that the TrueCar offer includes incentives ($1,250 A3/S3 New Owner Acquisition Cash), so for the LeaseHackr Calculator the Selling Price should be $40,929. I think you MAY be able to do a little better if you find the right dealer trying to make sales numbers.
By the way, with no MSDs, the total lease cost goes from $17,878 -> $19,161 (monthly payments go from $481 -> $517). By tying up your $5k MSDs for 3 years, you avoid $1,283 of costs. That’s similar results to an 8% annual return on your money. Tough to argue with doing the MSDs.
I still need a reality check.
I’ve scoured all of the various forums, discussions, etc., in multiple locations to get a clear, full understanding of how lease numbers are so varied. I still cannot grasp why a $25k car can be leased for $160/mo. in one place, and another $25k car is $350/mo… I can provide specific documents, examples, etc., to verify and validate a $160/mo. lease (scanned PDF’s) and still I don’t “get it” when I walk into 1 dealer a car that has a MSRP of say $28k with a negotiated price of say $25k is one price and another dealer is in orbit around a distant planet.
I understand all of the numbers given as examples here on this forum, and that some can be modified and skewed to make an end result look any way the dealer wants it to look, but if you use a lease calculator (of the many out there) and punch in the MSRP, the negotiated price, the money factor, the residual, the the term, the mileage, the down payment (if any), the costs (lic., dealer, bank, etc.) I still come up with an end result of about $215 a month with a $3,000 down payment, and $980 in all the other fees, etc.
Why is it then the numbers do not compute?
The residual (60%) and MF (.00125) reflect the current March numbers for a 36/10K lease of a 2016 GTI 2-door with Performance Package.
I would aim for a selling price of $26,480, or about $2,200 off MSRP. The biggest discounts offered by NJ dealers on TrueCar and Edmunds Price Promise are $2,103 and $2,168 respectively on GTI.
I’m assuming a registration fee of $165 (three years of registration), which is consistent with the output I got from the NJ registration fee estimator: http://www.state.nj.us/mvc/regfee/index.html
A selling price of $24,952 seems unrealistic for that car. Perhaps the dealer is quoting you a selling price under the condition you finance the car at high interest rates.
OK, thank you sir.
2 items, maybe you can help.
1, if I put 2k down, + the $916 drive off, what’s the number?
2, I tried to use your Excel sheet, however, the numbers don’t compute for monthly payments, etc., am I doing something wrong, as it doesn’t update, change, etc., and I can only wish it worked correctly.
Thanks again.
