2016 eGolf SEL lease

[EVGB]

Hello all!
I'm new to this forum, but have been following different discussions for a few months now.
I have just returned my 2012 Leaf and want to get another EV for sure.
After months of research, I have decided to go with a 2016 SEL , blk on blk.

Biggest issue I have is finding a decent deal in SoCal. I had a horrible experience with a dishonest dealer where what they quoted on the phone was far off than what they offered once I got to the dealership.

I understand that the 'program' from VW changed some of the incentives as of Jan 5th, but not clear what changed l. Does anyone know what changed?
What should I expect for a good current 36 mo lease, 12k or 15k per year???
Preferably $0 down plus drive offs only.

Thanks much!

 

[forbin404]

Hello all!
I'm new to this forum, but have been following different discussions for a few months now.
I have just returned my 2012 Leaf and want to get another EV for sure.
After months of research, I have decided to go with a 2016 SEL , blk on blk.

Biggest issue I have is finding a decent deal in SoCal. I had a horrible experience with a dishonest dealer where what they quoted on the phone was far off than what they offered once I got to the dealership.

I understand that the 'program' from VW changed some of the incentives as of Jan 5th, but not clear what changed l. Does anyone know what changed?
What should I expect for a good current 36 mo lease, 12k or 15k per year???
Preferably $0 down plus drive offs only.

Thanks much!

Hmm VW of Garden Grove has a 10k for 179 Plus fees. That's roughly $245 /month with zero drive off.
I don't know what the 12k goes for.

 

[tw919er]

I am looking for one in SoCal too. I didn't find a dealership that currently has a SEL.

 

[EVGB]

Thanks Forbid404 for the quick reply.
The deal at VW GG is for SE, not SEL.
Any others? I hear there is far more inventory and better deals in Northern California. San Jose and SF areas...

 

[jeep]

There was a $1500 conquest incentive from VW that expired on the 4th. I just got into an SE lease for $146/month (incl. tax) $2500 down (get that back under CVRP) 10k miles/year. I got the last one from the dealer. Most other dealers in SF Bay Area either did not have any e-golf in stock or were not willing to better the deal I got. There were no SELs that I could find anywhere in SF Bay Area.

 

[johnnylingo]

I hear there is far more inventory and better deals in Northern California. San Jose and SF areas...

I wouldn't call inventory in Silicon Valley "great" right now. The 2015s are long gone, and selection on the 2016s is for the most part horrible. The only dealer with decent inventory right now is Serramonte up in Colma. I guess ghosts aren't buying?

Sunnyvale does have a black/black SEL though and they're re-stocking this month. If you're in SoCal and not finding what you want, I'd try contacting them right after their re-stocking shipment gets on the lot. They should be apt to dealing at that point.

 

[mhathawa]

There was a $1500 conquest incentive from VW that expired on the 4th. I just got into an SE lease for $146/month (incl. tax) $2500 down (get that back under CVRP) 10k miles/year. I got the last one from the dealer. Most other dealers in SF Bay Area either did not have any e-golf in stock or were not willing to better the deal I got. There were no SELs that I could find anywhere in SF Bay Area.

I just leased a 2015 SEL on Dec 31st at Hilltop VW in Richmond, (sf bay area) . $260/mo with nothing down (sign and drive). They had two more silver ones on the lot too.

 

[FlyPenFly]

Seems like most dealers are getting new stock in late jan early February.

 

[mhathawa]

Thanks Forbid404 for the quick reply.
The deal at VW GG is for SE, not SEL.
Any others? I hear there is far more inventory and better deals in Northern California. San Jose and SF areas...

Thank Christ, that made me sick to my stomach reading that the 2016 SEL's were going that cheap. The only reason I leased my 2015 SEL last week was because the incentives on the lease added up to $17,700 (which included the pass through of the $7500 federal tax credit) plus the CA $2500 rebate. My monthly payment on the lease was $260 (which includes the sales tax) with nothing down, so that monthly payment included all fees, taxes on cap cost reductions, first month payment, etc. And my residual is like $13,400.

 

[RonDawg]

The only dealer with decent inventory right now is Serramonte up in Colma. I guess ghosts aren't buying?

LOL! A Colma police officer once told me that there are more people dead than alive in Colma.

 

[JoulesThief]

Thanks Forbid404 for the quick reply.
The deal at VW GG is for SE, not SEL.
Any others? I hear there is far more inventory and better deals in Northern California. San Jose and SF areas...

Thank Christ, that made me sick to my stomach reading that the 2016 SEL's were going that cheap. The only reason I leased my 2015 SEL last week was because the incentives on the lease added up to $17,700 (which included the pass through of the $7500 federal tax credit) plus the CA $2500 rebate. My monthly payment on the lease was $260 (which includes the sales tax) with nothing down, so that monthly payment included all fees, taxes on cap cost reductions, first month payment, etc. And my residual is like $13,400.

You did very well for yourself on that leased 2015 SEL, my friend.

 

[user 703]

Just about to pull the trigger on an 2016 SEL in the Bay Area. SEL inventory is quite limited and I'll take a silver rather than other colors I would have preferred.

I am looking at $ 2,500 down (before the CA rebate, thus effectively $ 0). This includes all taxes, fees, license, etc. Monthly rate is $ 245 plus tax. Rate includes wear and tear insurance which I value at $ 650-800 for a SEL.

A SE would have been quite cheaper, but with young kids leather seats are an imperative...

Any comments?

 

[jeep]

Just about to pull the trigger on an 2016 SEL in the Bay Area. SEL inventory is quite limited and I'll take a silver rather than other colors I would have preferred.

I am looking at $ 2,500 down (before the CA rebate, thus effectively $ 0). This includes all taxes, fees, license, etc. Monthly rate is $ 245 plus tax. Rate includes wear and tear insurance which I value at $ 650-800 for a SEL.

A SE would have been quite cheaper, but with young kids leather seats are an imperative...

Any comments?

You should look into seat covers and an SE might cost you less than the extra on just 1 month payment. You can get the 7.2 kW charger on an SE as an add on for 1600.

 

[HarryMac]

I'm getting the following quote for a brand new 2016 eGolf SEL Premium:

Downpayment: $3000
Mileage: 15,000 per year
Term: 36 months or 3 years
Monthly Payment: $289.

I haven't verified if the $3000 is already AFTER the $7500 federal rebate.

Assuming the $7500 and the VW $1500 rebate they have right now - Jan 2016 have already been applied in the $3000 figure, is this a good deal?

Thanks so much in advance.

-- My location: Oakland, California. Can go anywhere in the Bay Area.

 

[HarryMac]

Just about to pull the trigger on an 2016 SEL in the Bay Area. SEL inventory is quite limited and I'll take a silver rather than other colors I would have preferred.

I am looking at $ 2,500 down (before the CA rebate, thus effectively $ 0). This includes all taxes, fees, license, etc. Monthly rate is $ 245 plus tax. Rate includes wear and tear insurance which I value at $ 650-800 for a SEL.

A SE would have been quite cheaper, but with young kids leather seats are an imperative...

Any comments?

Hi.
Does the $2500 down include the $7500 Federal credit? If it does, the down is technically $10,000 (more, if the conquest rebate is factored in as well). Also, how many miles per year is this?

What dealership is this?

Looking forward to hear from you.

Thanks.

 

[bizzle]

Just to clarify for people just now exploring these leases:

The price you negotiate starts as the "Gross Capitalized Cost." The rebates will show up as "Capitalized cost reduction" then you'll have an "Adjusted Cap Cost," which will be multiplied by the residual resulting in your "Residual Value." The Residual Value is subtracted from the Adjusted Cap Cost and that will result in the "Depreciation" amount, which is then divided by 36 payments (or whatever your lease term is) to arrive at your payments.

Your down payment amount will also show up on the Cap cost reduction line.
Generally, down payments and drive-off fees are hidden in the small print.

These lease deals are counting the $7500 federal credit and you'll need to check if they are also quoting you with the conquest or loyalty incentive (when I checked yesterday, there was still a $1500 incentive for either or both that doesn't expire until the end of this month). On your quote, this will look like "Total Rebates = $9,000." That will not be including your down payment.

Remember to divide you down payment by 36 payments and add that to your quoted lease payments. Those are your true payments. In a lease, it doesn't matter if you put large down payment or not. Once you run the numbers everyone is quoting in the thread you'll realize they are all the same, it just depends on whether you put the money in the front or spread throughout the term of the lease. Generally, you want to put $0 or as small a down payment as possible because it doesn't cost any more money to do that and if you experience a total loss or hand the keys back early you will not get that back.

If you qualify for a $0 down and $0 drive-off package then you can just as easily take the money you would have given them up front and put it in a bank account and pay the monthly balance from that. Put another way, instead of giving the dealership $2500 dollars up front and paying them $200 bucks per month, you could put it in a bank account, deposit the state $2500 rebate, set auto pay with VW Credit, and not pay a single penny to VW for the next two years and 1 month. You could pay half of what you would have paid each month into the account every month for those 25 months and then sit back for the last year while the payments are automatically deducted from the account without you paying VW or your bank account anything.

 

[mhathawa]

Just to clarify for people just now exploring these leases:

The price you negotiate starts as the "Gross Capitalized Cost." The rebates will show up as "Capitalized cost reduction" then you'll have an "Adjusted Cap Cost," which will be multiplied by the residual resulting in your "Residual Value." The Residual Value is subtracted from the Adjusted Cap Cost and that will result in the "Depreciation" amount, which is then divided by 36 payments (or whatever your lease term is) to arrive at your payments.

Your down payment amount will also show up on the Cap cost reduction line.
Generally, down payments and drive-off fees are hidden in the small print.

These lease deals are counting the $7500 federal credit and you'll need to check if they are also quoting you with the conquest or loyalty incentive (when I checked yesterday, there was still a $1500 incentive for either or both that doesn't expire until the end of this month). On your quote, this will look like "Total Rebates = $9,000." That will not be including your down payment.

Remember to divide you down payment by 36 payments and add that to your quoted lease payments. Those are your true payments. In a lease, it doesn't matter if you put large down payment or not. Once you run the numbers everyone is quoting in the thread you'll realize they are all the same, it just depends on whether you put the money in the front or spread throughout the term of the lease. Generally, you want to put $0 or as small a down payment as possible because it doesn't cost any more money to do that and if you experience a total loss or hand the keys back early you will not get that back.

If you qualify for a $0 down and $0 drive-off package then you can just as easily take the money you would have given them up front and put it in a bank account and pay the monthly balance from that. Put another way, instead of giving the dealership $2500 dollars up front and paying them $200 bucks per month, you could put it in a bank account, deposit the state $2500 rebate, set auto pay with VW Credit, and not pay a single penny to VW for the next two years and 1 month. You could pay half of what you would have paid each month into the account every month for those 25 months and then sit back for the last year while the payments are automatically deducted from the account without you paying VW or your bank account anything.

Thanks for that post. That should help alot of people that are looking to lease. Since you seem to actually know what you're talking about, I was hoping you might be able to answer something for me. I took the lease deal on the 2015 SEL last week because it was $0 down (sign and drive, absolutely nothing out of pocket). The dealer took $8,700 off the purchase price and then by leasing I also got the $7500 pass-thru of fed tax credit, plus the $1500 lease conquest. However, my lease deal had a high money factor (0.0019) which resulted in $1400 in "rent charge" that is built into my $238/mo payment. I was thinking it would be possible to "payoff" the lease to get out of paying the $1400 that my high money factor will cost me over the life of the lease. Does anyone know if that is possible? If you pay off the lease early, is it similar to paying off a loan early in that it gets you out of paying the interest portion of future payments?

 

[HarryMac]

Remey

Thanks for that post. That should help alot of people that are looking to lease. Since you seem to actually know what you're talking about, I was hoping you might be able to answer something for me. I took the lease deal on the 2015 SEL last week because it was $0 down (sign and drive, absolutely nothing out of pocket). The dealer took $8,700 off the purchase price and then by leasing I also got the $7500 pass-thru of fed tax credit, plus the $1500 lease conquest.

You had a great deal at $238/mo with $0 down. I cannot seem to find an equivalent deal right now even if I have to pay it down payment. Is it because the car being leased is a 2015 SEL vs the 2016 SELs currently available? How many miles is your lease for every year, if you don't mind me asking?

At least 3 dealers today require a $3,000 down and a monthly payment of about $290 for 36 months at 15,000 miles per year.

 

[HarryMac]

....instead of giving the dealership $2500 dollars up front and paying them $200 bucks per month, you could put it in a bank account, deposit the state $2500 rebate, set auto pay with VW Credit, and not pay a single penny to VW for the next two years and 1 month.

Hello. Thank you very much for the thorough explanation on the lease process. I, however, would like to clarify the above excerpt from your post. You said not to pay a single penny to VW for the next two years and one month. From what I see, this is because the monthly payment of $200 over 25 months total $5000. And the $5000 will come from The $2500 down plus the $2500 California rebate. In essence, the customer in this case only gets $100/mo "free" money from the rebate. The other $100 monthly payment is supposed to come from the $2500 that is put away instead of being put money down on the signing.

Is this what you were trying to say in your post?

 

[bizzle]

Thanks for that post. That should help alot of people that are looking to lease. Since you seem to actually know what you're talking about, I was hoping you might be able to answer something for me. I took the lease deal on the 2015 SEL last week because it was $0 down (sign and drive, absolutely nothing out of pocket). The dealer took $8,700 off the purchase price and then by leasing I also got the $7500 pass-thru of fed tax credit, plus the $1500 lease conquest. However, my lease deal had a high money factor (0.0019) which resulted in $1400 in "rent charge" that is built into my $238/mo payment. I was thinking it would be possible to "payoff" the lease to get out of paying the $1400 that my high money factor will cost me over the life of the lease. Does anyone know if that is possible? If you pay off the lease early, is it similar to paying off a loan early in that it gets you out of paying the interest portion of future payments?

If you are serious about this option, contact VW Credit and ask them about a one-pay lease option. Although I believe you're correct in that it will circumvent the rent charge it does so at the expense of you giving the lease company $7K up front for an asset you don't own. Better drive that car very carefully over the next three years and lock it up tight at night.

While 5% is a hefty service charge, you did well from what I see assuming that was what enabled you to get $9k chopped of the price. Kinda depends on your personal risk level and what you think you can do with that $7k if it's not tied up in the car. I mean, Apple took a big whollop the other day, VW is back down, you could buy 70 shares of Appl and it only has to move $20 bucks in three years to make your $1400 back (or a bit more to cover your tax liability if you're going to pull it back out).

Hello. Thank you very much for the thorough explanation on the lease process. I, however, would like to clarify the above excerpt from your post. You said not to pay a single penny to VW for the next two years and one month. From what I see, this is because the monthly payment of $200 over 25 months total $5000. And the $5000 will come from The $2500 down plus the $2500 California rebate. In essence, the customer in this case only gets $100/mo "free" money from the rebate. The other $100 monthly payment is supposed to come from the $2500 that is put away instead of being put money down on the signing.

Is this what you were trying to say in your post?

Yes, that is what I'm suggesting. The difference is that you keep the money rather than giving it to leasing company up front and you keep the low payments you wanted.

It's to your benefit to keep as much money in your own pocket when you're leasing a vehicle. You're renting it, not owning. If anything happens to it any money you sink into it does not come back to you.

Similarly to what I wrote above, you don't have to just let it sit in the bank account. You could invest it depending on your personal risk level. Using the same APPL example above, if you bought 25 shares of stock and it gained $20 bucks in those same three years you'd end up with $500 extra dollars (minus the taxes you'd pay on it if you pulled it out). That's two free payments. You could buy nearly 100 shares of VW. It's not going to double in three years but as part of a long term investment strategy you would likely be much better off doing that than just handing it over to VW Credit for no reason.