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VW lease negotiation

aj2121
Regular Contributor

Re: VW lease negotiation

@Doodle1012d You have received lots of good advice and I echo much of it, especially to never put money down (capital cost reduction) on a lease. If you want to pay taxes, acquisition fees, registration fees, etc. up-front that is more advisable.

 

The current unknowns are Residual Value (RV) and actual Money Factor (MF). To evaluate how good your deal is you should find out the RV and MF as well as current incentives for your zip code; the best resource for finding this info is the Edmunds forums. 

 

My very rough way to evaluate a lease is if the payment is 1% of MSRP, anything under that is a good deal, over I would pass. That being said, I usually use a 36mo term and 10k miles as the evaluation. COnsidering the down payment, extended term and reduced mileage I would say your deal is fair. It is not good and far from great, imo.

FICO8 as of 4/9/21:
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Doodle1012d
Established Member

Re: VW lease negotiation

Thanks a ton to everyone who has chimed in. This will be my first lease and I now have a solid framework on aspects that influence lease contracts.

 

The short cut given above is especially useful. Thanks again!


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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