The TL needed a new TDI...
05-11-2011 | 09:19 AM
#42
Senior Moderator
Joined: Jan 2001
Posts: 34,937
Likes: 638
From: Chicago Burbs
You guys are acting as if he wouldn't have paid that $14,500 anyway.
A 60% residual after 3 years isn't a bad number at all.
I think putting that money down would have been stupid if the residual had been 40% and he could have simply owned the car outright for a lot less than had he just leased and walked away and then bought a new car again.
Maybe I'm missing something but I don't think you guys are being fair.
That said, having a paid off G makes more sense than getting a new RX but hell, if they have the money ...
A 60% residual after 3 years isn't a bad number at all.
I think putting that money down would have been stupid if the residual had been 40% and he could have simply owned the car outright for a lot less than had he just leased and walked away and then bought a new car again.
Maybe I'm missing something but I don't think you guys are being fair.
That said, having a paid off G makes more sense than getting a new RX but hell, if they have the money ...
I think they just saying that putting that much down is risky. If the car gets totaled soon after then you walk away from the lease with nothing in your pocket. That 14,500 is gone. Poof!
05-11-2011 | 09:26 AM
#43
Did some reverse math since i havent heard back from the salesman once i asked him to give me the numbers.
The cars MSRP is 25,085
assumming registration/title is 300
cash down payment is 4000
36 month lease with 12k a year
In order to get the payments to the proposed 368 a month plus tax they must have assumed a 51.823% residual for the car and a .00323 money factor
they really were trying to rape me.
VW currently offers 00.00187 MF and a 50% res rate. they allow dealers to tack on an additional .00125 to the MF if they can get away with it.
Assuming invoice is really 22,500 and i can get an MF of .00187 i can get a monthly payment of 367 with 1500 down. they were basically taking my 2.5K and pocketing it! all this without a pre-approval
lets assume i do 2k down (average) my payment will be 351 which still seems high to me considering sarlacc pays 217.
what am i missing?
The cars MSRP is 25,085
assumming registration/title is 300
cash down payment is 4000
36 month lease with 12k a year
In order to get the payments to the proposed 368 a month plus tax they must have assumed a 51.823% residual for the car and a .00323 money factor
they really were trying to rape me.
VW currently offers 00.00187 MF and a 50% res rate. they allow dealers to tack on an additional .00125 to the MF if they can get away with it.
Assuming invoice is really 22,500 and i can get an MF of .00187 i can get a monthly payment of 367 with 1500 down. they were basically taking my 2.5K and pocketing it! all this without a pre-approval
lets assume i do 2k down (average) my payment will be 351 which still seems high to me considering sarlacc pays 217.
what am i missing?
Last edited by phee; 05-11-2011 at 09:28 AM.
05-11-2011 | 09:35 AM
#44
Sorry, i calculated the residual of my negotiated price instead of the retail price. with a 2000$ down payment and a residual of 50% (i should be able to get 51-53) my payment will be 309 a month
05-11-2011 | 10:25 AM
#45
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Chapter Leader (South Florida Region)
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interesting to read both perspectives on the deal...I have bad ADD...I'm a smart guy but have a hard time focusing on one thing...but when it comes to this stuff, I should probably start paying attention. MF and res value seem to play a HUGE role in the deal.
So basically the dealer is playing with a whole hand of cards they can shuffle around and we're standing there with our 1 card hoping to win. Too bad it's not TONK.
So basically the dealer is playing with a whole hand of cards they can shuffle around and we're standing there with our 1 card hoping to win. Too bad it's not TONK.
05-11-2011 | 12:46 PM
#50
getting the hang of this lease calculation thing... the dealer is supposed to send me an email with their pricing info and how they came up with these numbers. im getting 314 a mo with the current rates direct from another dealer.
05-11-2011 | 02:41 PM
#53
Csmeance is working with me to get a price that's slightly above invoice. As for buying then trading it: I didn't think you could do that on a car you still owe money on. And I don't want to trade it in when I have neg equity, or be stuck with an unreliable car.
I'd honestly be happy with 300 a mo. Lease with possibly 1500-1700 down.
Sorry for my ignorance on all this but I dont have much help from family because I'm the first person to buy/lease a car (that's worth more than 10k) in my family.
I really appreciate my Azine fam lookin out for me
I'd honestly be happy with 300 a mo. Lease with possibly 1500-1700 down.
Sorry for my ignorance on all this but I dont have much help from family because I'm the first person to buy/lease a car (that's worth more than 10k) in my family.
I really appreciate my Azine fam lookin out for me
05-11-2011 | 05:16 PM
#64
Ackniculous One
Joined: Jun 2003
Posts: 3,100
Likes: 8
From: ATL Shawwwwtyyyy
Hey Lil Bro, so you are looking for Golf or Jetta? I am looking for a Jetta TDI right now and those are hard to find. But you know i don't do new cars..good luck man! These things get sick mpgs! Catch the dealer end of month late at night on a Saturday..they'll fold up lol
05-11-2011 | 05:17 PM
#65
Suzuka Master
Joined: Jan 2006
Posts: 6,771
Likes: 113
From: The 808
Serious!?!?!?!
Thats a helluva deal!!