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VW lease negotiation

Doodle1012d
Established Member

VW lease negotiation

Lease Analysis

 

2021 Volkswagon Atlas cross sport. Price: 40K Term: 39mo Mi: 7.5K/yr Down pymt: $2,100 monthly pymt: $429 Experian Fico 8 Score 690. They said they'd give me the tier 1 rate. I don't recall the purchase option.

 

 

What do you guys think, Is this their best deal?


Starting Score: Dec 2016 EQ 606 TU 613 EX 575
Current Score: July 2017 EQ 658 TU 660 EX 630
Goal Score: >700 across the board


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Message 1 of 12
11 REPLIES 11
lvjustin1
New Member

Re: VW lease negotiation

Sounds like a good deal to me.

 

When car  buying at the end of the day if you are comfortable with the figures and you like the vehicle then just pull the trigger.

Message 2 of 12
Shooting-For-800
Senior Contributor

Re: VW lease negotiation

Not enough info to comment.

Length?

Miles?

Purchase option?

Credit score?

etc.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

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Message 3 of 12
Doodle1012d
Established Member

Re: VW lease negotiation

The post had been updated. Thanks for weighing in.


@Shooting-For-800 wrote:

Not enough info to comment.

Length?

Miles?

Purchase option?

Credit score?

etc.


 


Starting Score: Dec 2016 EQ 606 TU 613 EX 575
Current Score: July 2017 EQ 658 TU 660 EX 630
Goal Score: >700 across the board


Take the myFICO Fitness Challenge
Message 4 of 12
Shooting-For-800
Senior Contributor

Re: VW lease negotiation

You obviously don't plan on keeping it so...

$429 x 39 + $2100 = $18,831 total

$18831 / 39 = $482.85 per month

 

The problem is the buy option.  You need to know that in case you go over the very low miles requirement or if you want to keep it or if it holds it's value better than expected.

 

Buying it for say $38k out the door at 4% interest would cost you 

 $858  for 48 months

 $699 for 60 months 

 $595 for 72 months

 

$595 owning vs $483 renting.

 

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture



Message 5 of 12
Horseshoez
Established Contributor

Re: VW lease negotiation


@Doodle1012d wrote:

Lease Analysis

 

2021 Volkswagon Atlas cross sport. Price: 40K Term: 39mo Mi: 7.5K/yr Down pymt: $2,100 monthly pymt: $429 Experian Fico 8 Score 690. They said they'd give me the tier 1 rate. I don't recall the purchase option.

 

 

What do you guys think, Is this their best deal?


General rule of thumb, never-EVER put money down on a lease.

I categorically refuse to do AZEO!

Message 6 of 12
4sallypat
Frequent Contributor

Re: VW lease negotiation

I'd ask what is the RESIDUAL & their MF rate they are offering  you as "Tier 1"...

 

Then I'd have the dealer pay for the down (as @Horseshoez said- never put a down yourself).

 

For an ultra low mile lease, it seems a bit expensive and I'd rather finance it rather than rent it.

 

Another reason: 39 month lease means you will be paying an extra year of registration and you won't be able to drive it the full year (only 3 months).

 

Message 7 of 12
lvjustin1
New Member

Re: VW lease negotiation

That's so rediculous. Most of the incentivized programs require cash due at signing. Just watch any lease commercial. I'm not cutting my deal $3000 (MOD CUT - please see TOS regarding profanity.) - JAG73

  • Profanity; material that is libelous, fraudulent, unlawful, defamatory, pornographic, obscene, profane, abusive, offensive, threatening, hateful, or otherwise objectionable;
Message 8 of 12
Horseshoez
Established Contributor

Re: VW lease negotiation


@lvjustin1 wrote:

That's so rediculous. Most of the incentivized programs require cash due at signing. Just watch any lease commercial. I'm not cutting my deal $3000.


The advertisements for lease deals are just that, advertisements with no real bearing on reality.  The fact is, the only entity which benefits from money down on a lease is the dealership/financial institution you're doing the deal with.  When I was a small business owner we had our employees pick out the car they wanted (within reason) and negotiated the lease deal and always got as good a deal as the so-called "incentivized programs" which allegedly require cash down.

 

Long story short, never-EVER put money down on a lease car; if you want to lower the monthly payment, put down multipul security deposits which will lower the money factor and be returned at lease end.

I categorically refuse to do AZEO!

Message 9 of 12
203bravo
Established Contributor

Re: VW lease negotiation


@lvjustin1 wrote:

That's so rediculous. Most of the incentivized programs require cash due at signing. Just watch any lease commercial. I'm not cutting my deal $3000


Cash due at signing and down payment are different.   Cash due will include items such as taxes, fees, first month, security, etc...  what the other posters are advising against is that it never a good idea to put money as a down payment on a leased vehicle. 

Message 10 of 12
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