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Help me with this Lease

Discussion in 'General Automotive Discussion' started by d-kauf, Feb 6, 2010.

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  1. d-kauf

    d-kauf Formula Junior

    Oct 11, 2006
    330
    Scottsdale, AZ
    Full Name:
    David
    #1 d-kauf, Feb 6, 2010
    I've never leased a car before, but I think I will lease my next one. I've researched Edmunds to find the lease deals currently being offered by VW on the 2010 CC and run some numbers though various lease calculators to come up with what I think the payments should be.

    The quotes I am getting from dealers never seem to reconcile to the lease calculator payment - coincidence or not, they always seem to be $30 higher/mo.

    Example of a car I looked at this morning:
    2010 VW CC Sport
    36mo lease
    15,000 miles/yr
    MSRP = $30,199
    Sale Price = $28,806
    No cap cost reduction
    Residual = $14,797.51 (49%)
    MF = 0.00027
    AZ Tax Rate = 8.30%

    I am coming up with a lease payment of $434.17/mo (incl tax) whereas the dealer is indicating $463.76. Am I not calculating something correctly, or are these dealers just trying to pull a fast one on me?

    Thanks
     
  2. El Wayne

    El Wayne F1 World Champ
    Staff Member Lifetime Rossa Owner

    Aug 1, 2002
    18,069
    San Marino, CA
    Full Name:
    L. Wayne Ausbrooks
    #2 El Wayne, Feb 6, 2010
    Last edited: Feb 6, 2010
    I need to know if $28,806 is the gross cap cost or if it is just the price of the car. If this is just the price quoted, then there is most likely an acquisition fee being added on top of this. Your calculation is right on otherwise. The two of you are apart by approximately $984, which is high for an acq fee, so possibly something else being tacked on as well. Ask him for a breakdown of the gross cap cost.
     
  3. El Wayne

    El Wayne F1 World Champ
    Staff Member Lifetime Rossa Owner

    Aug 1, 2002
    18,069
    San Marino, CA
    Full Name:
    L. Wayne Ausbrooks
    #3 El Wayne, Feb 20, 2010
    Just curious if you ever worked out the details and pulled the trigger?
     
  4. d-kauf

    d-kauf Formula Junior

    Oct 11, 2006
    330
    Scottsdale, AZ
    Full Name:
    David
    #4 d-kauf, Feb 23, 2010
    Yes, I ended up getting a CC Sport 36mo lease (15k/year) for just over $400 per month including tax. Nothing down other than license + doc fees + 1st month payment. I negotiated the "sale price" down to $27,500 (about $1,000 under invoice and about $2,500 under MSRP). I think I got a good deal considering the dealers can't keep these cars in stock.

    Thanks
     

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