Good deal?

[Soalpha]

For 2016 SE with 36 month 36k miles, is it a good deal if I pay $5400 down total and $98 monthly including tax?

 

[bizzle]

For 2016 SE with 36 month 36k miles, is it a good deal if I pay $5400 down total and $98 monthly including tax?

No, don't put anything down.

 

[JoulesThief]

If you are price sensitive, I'd try holding out until September, after Labor day, or late August, when everyone is done buying a car to send their kids back to college. Much better lease deals once summer is over, if you can hold out that long, for a 2016 model remaining. You might not get 1st choice of color exterior wise, but who cares, if you lease the car, it doesn't matter anyways, it's not yours, it's the lease companies.

Always try to put the minimum or no amount of money down, and make larger payments. If you crash, have an accident or total your car during the lease, you lose all the money you put in on the down payment.

 

[Soalpha]

Thanks man much appreciated. I test drove and liked the car. Will wait for now.

If you are price sensitive, I'd try holding out until September, after Labor day, or late August, when everyone is done buying a car to send their kids back to college. Much better lease deals once summer is over, if you can hold out that long.

Always try to put the minimum or no amount of money down, and make larger payments. If you crash, have an accident or total your car during the lease, you lose all the money you put in on the down payment.

 

[Soalpha]

Thanks, decided to wait for a good deal.

For 2016 SE with 36 month 36k miles, is it a good deal if I pay $5400 down total and $98 monthly including tax?

No, don't put anything down.

 

[JoulesThief]

Your other option it to go to numerous dealerships, 5 or 6 of them if enough are near by, and test drive an e-Golf at every dealership. Leave your email address with them, not your phone number. Let them bid against each other for your business, if you don't want to wait. You have to hunt down the lean, small dealership at month end that is hungry to make a deal and will give you the best price. 3 day weekends and Holidays like memorial day, 4th of July and Labor day will hinder your efforts, everyone shops those 3 day weekends. 3-5 days before month end, at the end of a quarter, is when I like to operate on getting a good deal. Like at or around Sept 30th. Or New Years. Or end of March.

Put on your poker face and remain stoic after every drive. Don't show your hand. Never get emotional.

 

[forbin404]

For 2016 SE with 36 month 36k miles, is it a good deal if I pay $5400 down total and $98 monthly including tax?

It's an 'ok deal'.

Better than ones in March but not as good as Apr.

 

[butcho323]

Always try to put the minimum or no amount of money down, and make larger payments. If you crash, have an accident or total your car during the lease, you lose all the money you put in on the down payment.

Is that last part true? I'm new to leasing. Can you explain what happens when you total the car? Are you off the hook for the remainder of the lease payments? Thanks

 

[Soalpha]

For the same deal - 2016 SE with 36 month 36k miles,instead of $5400 down total and $98 monthly including tax, I'll try to bring the numbers down to $2500 total down and $98 monthly including tax

 

[cctop]

For the same deal - 2016 SE with 36 month 36k miles,instead of $5400 down total and $98 monthly including tax, I'll try to bring the numbers down to $2500 total down and $98 monthly including tax

That's likely too low.

Here are two good sites to check lease rates:

http://ev-vin.blogspot.com/
http://leasehackr.com/

You can check older posts for lease rates.

The lowest offer I've ever seen was about $6000 total out of pocket over 36 months. That was in SoCal at the end of last year, for 7500 miles a year, with a $1500 incentive from VW. By January in the SF Bay Area the best rate was about $7200 for 7500 miles a year. You'll likely pay more now, and you'll definitely pay more for 12k miles a year.

 

[miimura]

Always try to put the minimum or no amount of money down, and make larger payments. If you crash, have an accident or total your car during the lease, you lose all the money you put in on the down payment.

Is that last part true? I'm new to leasing. Can you explain what happens when you total the car? Are you off the hook for the remainder of the lease payments? Thanks

Yes. It's True. Your insurance pays off the leasing company and you don't see a dime. You're also off the hook for any remaining payments. See #8 at Leasehackr's "8 Things You Should Know Before Leasing a New Car".

In California, I would never put more than the $2,500 CVRP rebate as a down payment on an EV. Depending on your cash flow situation, you can pay nothing up front and pocket the rebate, essentially driving the car for free for 6-10 months.

 

[miimura]

Leasehackr also mentions using additional Security Deposits to reduce the effective interest rate. Some companies like M-B allow this for a couple reasons. First, it lowers the risk for them for non-payment. Second, you are reducing the outstanding balance and therefore the effective finance charge. In addition, since it is a refundable deposit, you will get it back if the car is totaled. Any amount you give to the dealer that reduces the Cap Cost is not refundable. In any case, the additional security deposit only saves you money if the lease carries a market rate money factor. Cars like the e-Golf usually have a subsidized money factor that is already very low.

 

[forbin404]

Here are two good sites to check lease rates:

http://ev-vin.blogspot.com/
http://leasehackr.com/

Leasehackr hasn't properly updated in months. (I don't call 1 post every 30 days a deal site)

ev-vin says someone got a 2016 SE for $2997 OTD. What in the heck?

 

[bizzle]

The lease deal I signed was $0 out of pocket, 10K miles, $600 for extra coverage (whatever it's called when you ding the car, etc.), for $199.
You can work it backwards to see how your deal stacks up against it.

 

[cctop]

Leasehackr hasn't properly updated in months. (I don't call 1 post every 30 days a deal site)

ev-vin says someone got a 2016 SE for $2997 OTD. What in the heck?

For the $2997 offer, the dealer is counting the $2500 Rhode Island state rebate:

http://www.speedcraftvw.com/manager-specials-in-wakefield-ri

On ev-vin look at the line right below where you see the total drive-off cost is $5497. That's for a 24-month lease for 7500 miles so it's more or less in line with other numbers. It looks like Rhode Island doesn't have the same 30-month minimum lease as California does to get the $2500 rebate.

I included leasehackr too because it has a lot of good generic info about auto leasing even if the deal info isn't as current.

 

[forbin404]

Lol drive off isn't $$$+ Tax+ License. It's total Drive off..

Hehe...damn I was so jealous that someone got a car for $3000

 

[Soalpha]

Dealer wont go lower than $5388 OOD and $98 monthly with tax for 36k mi. If I deduct $2500 CA rebate, my total cost OOD would be $2888 ($5388-$2500) down and $98 monthly. Are there better deals expected?

For 2016 SE with 36 month 36k miles, is it a good deal if I pay $5400 down total and $98 monthly including tax?

 

[JoulesThief]

Dealer wont go lower than $5388 OOD and $98 monthly with tax for 36k mi. If I deduct $2500 CA rebate, my total cost OOD would be $2888 ($5388-$2500) down and $98 monthly. Are there better deals expected?

For 2016 SE with 36 month 36k miles, is it a good deal if I pay $5400 down total and $98 monthly including tax?

Yes, on left over 2016's once the 2017's start to arrive. Only you can determine if it is a good deal. A good deal, to you, is all that matters. Do your due diligence, and go from there.

 

[Soalpha]

Planning to go with Spark EV since it will be my commuter car. Exploring cheaper deals.

 

[Sptgolf]

So after all is said and done you are driving an e-Golf for 175/mo. I'd say that's a good deal on a great car. You can likely get a focus electric or spark for much less but I think the e-golf is a better car. I have a friend with a new Focus electric looking to swap out to something a little bigger and more range now that he got his CA rebate check.