SoCal VW e-golf SEL lease

[mwu]

Hi All, thanks everyone for great info here. Here is number I got from one of the dealer, I'm not sure if it's the best out there.

Let me know what you think.

36 month / 10000mi
Monthly payment after tax: $283.40
M.S.R.P: $36,265.00
Sale price: $29,354.00
Driveoff: $1,357.35
Rate: 0.00001
Term: 36
Residual value: 37.00% ($13,418.05)

 

[sweetwagon]

pretty good imo. only thing I'd try to get is 12k/yr. since its covered by warranty. it adds about $10/mo.

 

[anesthete]

Jeez, at those prices, I'd drive off in one tomorrow.

I'm having trouble understanding the numbers, though -- they don't work out exactly in any of the lease calculators I've tried. Could you help clarify them for me? I'm assuming acquisition fee of $625, license/tire/doc/EFF fees of $400 or so, and tax at 9%.

The Driveoff of $1,357.35 would be first payment $283.40 + the fees ~$1025 + something else ~$50, right? So this would have no Capitalized Cost Reduction beyond the $7500 federal rebate, correct?

Thanks

 

[SaintTiki]

So "Sale price: $29,354.00" = Cap Cost? That seems really good. The Sunnyvale $217 month works out to a Cap Cost of $31205. I think I need to negotiate harder...

 

[miimura]

So "Sale price: $29,354.00" = Cap Cost? That seems really good. The Sunnyvale $217 month works out to a Cap Cost of $31205. I think I need to negotiate harder...

No, that is probably the dealer selling price. The Sunnyvale $217 equivalent should be about $30,500 on the top line.

 

[SaintTiki]

So "Sale price: $29,354.00" = Cap Cost? That seems really good. The Sunnyvale $217 month works out to a Cap Cost of $31205. I think I need to negotiate harder...

No, that is probably the dealer selling price. The Sunnyvale $217 equivalent should be about $30,500 on the top line.

Hmm. I just talked to them today. $217/mo without taxes, $3888 drive-off. There's a number that says "Gross Cap Cost" $31,205, and another that says "Price" $30,580. Maybe a $625 bank fee that isn't listed on this quote? I have another quote from somewhere else that says $625 bank fee.


What's the difference between Cap Cost and dealer selling price?

 

[miimura]

Yes, the $625 is the "Acquisition Fee". It goes to VW Credit and is non-negotiable.

 

[SaintTiki]

Yes, the $625 is the "Acquisition Fee". It goes to VW Credit and is non-negotiable.

Ah. So in the quote I have, $30,580 is actually the cap cost. Seems like a decent deal but I'd really like to finangle it down a tad more. Anyone do better than that on an SEL?

What's the deal with sales tax out here? I just moved to CA. Is the sales tax on my lease based on my residential address, place where I lease the car, or just the basic CA rate?

 

[miimura]

Yes, the $625 is the "Acquisition Fee". It goes to VW Credit and is non-negotiable.

Ah. So in the quote I have, $30,580 is actually the cap cost. Seems like a decent deal but I'd really like to finangle it down a tad more. Anyone do better than that on an SEL?

What's the deal with sales tax out here? I just moved to CA. Is the sales tax on my lease based on my residential address, place where I lease the car, or just the basic CA rate?

It is based on the address you put on your paperwork, where your lease statement will go. If you give an address that does not appear in your credit report, it could require some explanation. The sales tax rate could be anything from 7.5% to 10% depending on location, a combination of possible County and City sales taxes added onto the State portion.

You can find yours here:
https://maps.gis.ca.gov/boe/TaxRates/

 

[TrailRider]

I leased mine from Norm Reeves VW in Irvine, CA for $249 per month (or $269 after taxes) and $2495 down, out-the-door (first month, taxes, etc), 10k miles a year.

They've been running this special for the last few months here -

http://www.normreevesvw.com/new-car-specials/

They say it is only for certain cars but you can pretty much get any one in stock for that. Maybe if you play a little more hardball than I did you can shave a bit more off of that.

This seems to be bit better than the Sunnyvale lease at $217 with $3888 down.

 

[anesthete]

I leased mine from Norm Reeves VW in Irvine, CA for $249 per month (or $269 after taxes) and $2495 down, out-the-door (first month, taxes, etc), 10k miles a year.

Would you happen to recall what the cap cost worked out to be (i.e. including the destination, but excluding the $625 acquisition fee)? That seems to be the number that's really important, as it's the only piece of the arithmetic that's negotiable and varies from dealership to dealership.

 

[miimura]

I leased mine from Norm Reeves VW in Irvine, CA for $249 per month (or $269 after taxes) and $2495 down, out-the-door (first month, taxes, etc), 10k miles a year.

Would you happen to recall what the cap cost worked out to be (i.e. including the destination, but excluding the $625 acquisition fee)? That seems to be the number that's really important, as it's the only piece of the arithmetic that's negotiable and varies from dealership to dealership.

Absolutely right. Everything in the lease except the dealer selling price is like squeezing a balloon - it goes in here and comes out over there. This is usually true of the mileage too. While I haven't studied the e-Golf leases with different up-front mileage - other EV leases I've looked at have basically pushed down the residual so that you're paying for more of the car during the lease period. If you purchased at the end of the lease, there wasn't really any total cost difference.

 

[TrailRider]

I leased mine from Norm Reeves VW in Irvine, CA for $249 per month (or $269 after taxes) and $2495 down, out-the-door (first month, taxes, etc), 10k miles a year.

Would you happen to recall what the cap cost worked out to be (i.e. including the destination, but excluding the $625 acquisition fee)? That seems to be the number that's really important, as it's the only piece of the arithmetic that's negotiable and varies from dealership to dealership.

Not off the top of my head. But, it's all spelled out in the paperwork which I will dig out this evening and report back for ya.

 

[SaintTiki]

On Amtrak en route to Sunnyvale right now to pickup an SEL. iPhone says I have 85 miles to get home and it's hot as b***s out so AC will be necessary. Currently plotting a mid-way top up. Whole Foods seems to be a popular stop with a high success rate. I'll let you know how I make out on the lease. Hoping to do $2500 down and $270/mo with taxes.

 

[SaintTiki]

I leased mine from Norm Reeves VW in Irvine, CA for $249 per month (or $269 after taxes) and $2495 down, out-the-door (first month, taxes, etc), 10k miles a year.

Would you happen to recall what the cap cost worked out to be (i.e. including the destination, but excluding the $625 acquisition fee)? That seems to be the number that's really important, as it's the only piece of the arithmetic that's negotiable and varies from dealership to dealership.

Not off the top of my head. But, it's all spelled out in the paperwork which I will dig out this evening and report back for ya.

I'd bet that's a cap cost of $30400-$30500, assuming the residual is fixed amongst dealers (same bank so it probably is?)

 

[TrailRider]

On Amtrak en route to Sunnyvale right now to pickup an SEL. iPhone says I have 85 miles to get home and it's hot as b***s out so AC will be necessary. Currently plotting a mid-way top up. Whole Foods seems to be a popular stop with a high success rate. I'll let you know how I make out on the lease. Hoping to do $2500 down and $270/mo with taxes.

Good luck! And, enjoy the drive home!! Should be a fun event...

You should not have a problem getting that deal. See my post to come shortly about the "numbers" behind the Norm Reeves deal...

 

[TrailRider]

Amount Due at Lease Signing Breakdown
Capitalized Cost Reduction: $8633.07
Registration Fees: $279.00
Cal. Tire Fee: $7
Electronic Veh. Registration: $29
Sales Tax: $6.40
Cap Reduction Tax: $690.65
Total: $9995.00

How paid
Federal Rebate: $7500
Down Payment: $2495

Capitalized Cost: $30422.32
Acquisition fee: $625
Gross Capitalized Cost: $31047.32
Residual Value: $13431.00
Depreciation: $8983.25

Base Payment: $249.89
Sales / use Tax: $19.99

Total Payment: $269.88
Total of Payments: $19,790.80

 

[anesthete]

Much obliged. They gave me slightly different numbers (base cap cost $30,396.72 and $1,566.40 cap reduction).

So now I'm curious which dealer went down to the $29,354.00 mentioned at the beginning of this thread ... that seems to be the number to beat.

 

[SaintTiki]

Ended up with $2500 down, $250 base, $270 with tax. Cap cost $30450. Not too shabby. I think that $29350 was some other sort of number.

Drive back was great! I'm 100% sure I could have made it the 85 miles without stopping, even with the occasional AC use. Drove in Eco mode, was getting 4.5mi/kWh then decided I would stop to eat anyway so might as well charge. Then I went full blast AC for most of the rest of the trip. Ended up at 4.2mi/kWh, almost all freeway. The level 2 chargers at the mall I stopped at were all inop so I used the CCS Combo charger. Had to call NRG to start it since I still don't have a card (can you use your iPhone instead?). Went from 60% to 96% in about 20 minutes. Probably not to most economical use of DCFC but better than nothing. I also don't have anywhere to charge at this hotel I'm staying at temporarily so it means I have 30 miles left in the proverbial tank to do what I gotta do tomorrow and stop by some free local charging. The car is great!

 

[sweetwagon]

Congratulations!

Hotel doesn't have a 120V anywhere near parking?