VW Jetta S Lease

[Inline4]

I recently closed on a co-op a little over a week ago. My credit is very good, recently pulled at 780 through Transunion. I have 2 questions: is the mortgage loan for the co-op too new to show up? And also if it does, will it negatively affect my credit picture enough to knock me out of Volkswagens top tier for the zero down lease?

Thanks for the help.

[SamsungHDTV]

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@Inline4 wrote:
I recently closed on a co-op a little over a week ago. My credit is very good, recently pulled at 780 through Transunion. I have 2 questions: is the mortgage loan for the co-op too new to show up? And also if it does, will it negatively affect my credit picture enough to knock me out of Volkswagens top tier for the zero down lease?

Thanks for the help.

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Yeah most likely too new to show up. I'd say check in about a month or two. You can check on annualcreditreport.com free of charge without entering any credit card information or trial period. I don't think you will be affected enough to be knocked out of top tier credit. But that's just my opinion. Its one of those YMMV questions. 

I'd also recommend purchase rather than lease. Why lease? Its basically a long term rental car with mileage restrictions.

[pizzadude]

Depending on what your credit report looks like now, the new mortgage tradeline could increase or decrease your score.    However it shouldn't have a significant impact unless you have have a thin file, and your overall AAoA drops.

[fishbjc]

My personal experience with VW Leasing.....I would N E V E R lease an auto from VW...EVER.  They charged me a fortune for every teeny tiny ding in the paint.  They charged me for something that was still under warranty (two things actually).

My headlight went out the morning of the inspection.  As my husband was due for major back surgery the next day, I was in a time crunch.  They charged me $79.  $350 for a tiny paint chip, possibly from a stone in the road.  The center console was loose (Vw couldn't fix it tightly) and charged me $350 for that.  It went on and on.  $2500 worth of it.

That being said.....I'm very sour on vw.

[bahbahd]

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@fishbjc wrote:

My personal experience with VW Leasing.....I would N E V E R lease an auto from VW...EVER.  They charged me a fortune for every teeny tiny ding in the paint.  They charged me for something that was still under warranty (two things actually).

My headlight went out the morning of the inspection.  As my husband was due for major back surgery the next day, I was in a time crunch.  They charged me $79.  $350 for a tiny paint chip, possibly from a stone in the road.  The center console was loose (Vw couldn't fix it tightly) and charged me $350 for that.  It went on and on.  $2500 worth of it.

That being said.....I'm very sour on vw.

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I feel like this is true with all auto leases.  Unless you are going to barely drive the car and keep it in a garage under a velvet sheet, you can expect a bunch of wear and tear charges at the turn in time.

[Exonumist]

I'd also recommend to buy rather then lease. I'll also say as an owner of a Jetta DON'T BUY ONE! The new ones are absolute garbage compared to the previous design and I still wouldn't trust that VW has fixed any of their electrical issues. Have you looked at the Ford Focus, Mazda 3, Hyundai Elantra, Chevy Cruze, etc? The competition for compact cars is fierce right now and there are some really great cars from a lot of different manufacturers. As far as your question goes at a 780 I think you should be fine for tier 1 even if it does report. VW Financing is pretty easy. 

[bahbahd]

FWIW, my GF has put 36k miles on a 2012 Jetta TDI since Jan '12 and has only had one issue where the turbo went out. I'm very glad I told her to get the extended warranty since she hit 30K on the odometer in less than 1.5 years. To get the turbo fixed was $100 out of pocket and she had a loaner for four days.

[Exonumist]

The TDIs are a little bit of a different story. They still have all of VW's quirks, but there isn't much competition and if you want a diesel they are fantastic. I've had my 09 Jetta for a little under 2 years. I bought it as a CPO and while it's been reliable, there are so many weird problems. Sometimes the windows refuse to go up or down automatically, it's rare but the alarm will go off at random while your driving, my rear passenger door doesn't always like to unlock without using the door handle from the inside, my ignition went bad and needed replaced (that had to be ordered from Germany and I was in a loaner for a week and a half), etc. Mechanically it's a very sound car, but when it comes to the electric side of things it's absolutely ridiculous. 

[bahbahd]

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@Default4 wrote:

The TDIs are a little bit of a different story. They still have all of VW's quirks, but there isn't much competition and if you want a diesel they are fantastic. I've had my 09 Jetta for a little under 2 years. I bought it as a CPO and while it's been reliable, there are so many weird problems. Sometimes the windows refuse to go up or down automatically, it's rare but the alarm will go off at random while your driving, my rear passenger door doesn't always like to unlock without using the door handle from the inside, my ignition went bad and needed replaced (that had to be ordered from Germany and I was in a loaner for a week and a half), etc. Mechanically it's a very sound car, but when it comes to the electric side of things it's absolutely ridiculous. 

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I have heard electrical is a long time problem with audi/vw. It seems to be their weakest spot. I never had any first hand expereince with it though. It seem if you have an electrical lemon, you have a really, really sour one.