Lease quote

[VQGolfR]

Want you guys to tell me if this is good........so i got quoted yesterday for a 2015 Golf R with gps and DCC

Lease.

36 months
10k miles
3k Down payment
= 530$ a month (every 1000 will bring it down 30$)

Financing.

72 months
7k down = 675$ Monthly
5k Down = 700$ Monthly

5.9% ARP

 

[catdog1]

lease numbers seem about right for 12K/year 3 years, also dont put anything down on a lease, what's the point?

 

[VQGolfR]

yea thats true. he told me that if i put down and then decide to own at the end that the money i put down wouldnt go towards the car. It will only bring down my monthly payment.

 

[erick.s1]

5.9% sounds really high - do you have any credit issues? I'd think you should be able to get under 3% with good credit for the financing option.

 

[VQGolfR]

well i told him to base it on good credit. My aunt is co signing and her credit score is 740

 

[GGray]

something doesn't add up I got on VW site and a lease came up under 500 bucks...

Not that I would ever lease a car,, might as well go stand in the front yard and give money away...

 

[VQGolfR]

yea i did that too and it wasnt even close tot he 530 that the guy told me.

 

[OnePerfectDose1]

The hard part with Golf R is there isn't a ton sitting on lots waiting to be sold. Therefore making it harder to negotiate. Make sure you request a quote for out the door price, this means including tax.

$3k Down and $530 a month comes out to $22k over 3 years. I don't know if that includes tax. What I did with my lease is shopped that around at 10 different dealers via email only because its in writing. I ended up saving over $3000 on my lease, leases are negotiable.

Like the dealer said, if you plan to buy after obviously your residual will be high. For me its a three year rental so I want to pay the least bit.

Honestly at that price your a couple thousand from an brand new S4...

 

[Mr_Ngineer]

That APR needs to come down dramatically. Honestly, I went with a credit union and let them fight over my business. It went from financing 3.5% to 1.65%. I would keep calling back and telling them 'my credit union went lower, what can you guys do for me'. In the end they went to low the credit union couldn't compete. I do hear the financing guys get a cut from bringing business when financed by the dealer, so they will try to get you a good offer.

 

[VQGolfR]

@ oneperfectdose how much do you pay for your lease?

 

[VQGolfR]

@Mr_Ngineer yea im thinkin of just getting a loan from my bank and see if that will be cheaper

 

[test2]

dont put a down payment on a lease if you can avoid it. $3k down payment + $530/month is actually just $670/month in reality.

You can get $200/month payments if you put enough of a down payment down.

 

[dc22]

To understand the real numbers, ask them what what the money factor and residual are...then compare that to what you can find online.

 

[Rob Daman]

To understand the real numbers, ask them what what the money factor and residual are...then compare that to what you can find online.

agreed. They will most likely use VW credit and the residual is fixed by the term. The MF has a minimum but dealers can mark it up like also on APR which to me at 5.9% is definitely the case.

I have tier 1 credit and got 3.99% for 72 months. I let them have a point or more only because I bought the base R for $2500 under MSRP or $1000 under invoice.

This was the lease info plus state sales tax for your reference on 36 months and $40k model at msrp

Residual is 67%

MF is .00225

Lease based on 36 months and 12k miles per year



$969 drive off $536.97 plus tax per month

$2500 drive off $493.71 plus tax per month

$5000 drive off $421.88 plus tax per month

 

[VQGolfR]

those lease numbers look good but i hate how vw doesnt put that money that youre putting down towards the car price. You will basically lose the 5k if u want to finance at the end. I was planning to lease then finance the car. For the price they are giving me i rather just get a nice used S4 lol