Yawiney
Veteran Member
Don't see an account # on my lease. Only an "approval code". ? I would like to create an account on the vw credit site but the first item they ask for is my account #??
Lease early-purchase experience anyone ?
- Thread starter r11
- Start date
IndigoBlueWagon
TDIClub Enthusiast, Principal IDParts, Vendor , w/
It will be on your first invoice. I already had a VW Credit account from a previous lease so when I logged in the car appeared in my account.
Mark_J
Veteran Member
- Joined
- Aug 17, 2003
- Location
- Deer Park, Washington
- TDI
- 2015 TDI Passat SEL Premium, 2017 Fiat Spider, 2017 Ford F350 6.7 Diesel crew cab PU, 2016 Harley Trike, 2016 Tesla Model X P90D (I know went to the dark side)
My first payment was due the 27th and I paid off my lease and purchased the Passat on the 20th and already have the title in hand. Saved well over $2,200.00 over the 2 year, 0% loan.
Mark_J
Veteran Member
- Joined
- Aug 17, 2003
- Location
- Deer Park, Washington
- TDI
- 2015 TDI Passat SEL Premium, 2017 Fiat Spider, 2017 Ford F350 6.7 Diesel crew cab PU, 2016 Harley Trike, 2016 Tesla Model X P90D (I know went to the dark side)
Hey Yawiney, I had to call the salesman who sold me my 2015 to get my lease account number because it was within a week of owing the first payment and still hadn't got any VW Credit paperwork. This is how I was able to create a account on the VW Credit site. Then I paid if off, and then the paperwork showed up one day before the payment due date. Seemed very late but it was paid off so no worries.
Yawiney
Veteran Member
Thanks. This is what i will do. Calling the dealer today!
Yawiney
Veteran Member
Dealer said that they don't have the account # and i have to call vw credit. They were closed by that time so i will try them tomorrow.
it amazes me how different dealers and states have totally different standard protocols.
it amazes me how different dealers and states have totally different standard protocols.
aditud
Veteran Member
Brought it home Monday evening, from 408mi away. I tried to not exceed 70mph (even though I involuntarily did, occasionally). I also hit stop&go traffic for maybe close to 1h. Everything's perfect, I didn't notice anything out of place (no vibrations, no weird sounds etc). Seems more responsive than the non-modified one, but maybe the 6MT gave me that impression. The engine is not louder, but it sounds a bit throatier (or maybe I just thought I heard that, given that I had read impressions from people who modified theirs). I'm not unhappy with the 6MT, but except for the initial lag, the DSG is a smoother operator than I (at least for now). My son told me that too yesterday (risking disinheritance 
).
I did the 2yr lease at 15k/yr (I may decide to not keep it, and that would be costly if I exceeded the miles). I'm paying like $900 more overall for the two years than if I did 10k/yr. But the residual went down by just as much, so if I do decide to keep it at the end of the lease, there'll be no difference between the two scenarios.
Of course, I have no intention of paying the lease off early. I did eventually get the MF of 0.00034 I'd been promised, so my rent charge amounted to less than $300. If I do keep the car at the end of the lease, my out-the-door will be $24k (all taxes and fees included). I think this is a pretty decent deal.
BTW, the dealers turned out to be very reliable after all. I went there with no official contract (just the one they had sent by email after I pointed out their mistakes). They didn't try anything fishy once they got me into their dealership.
Before I got out of the flatlands north of NYC:
).I did the 2yr lease at 15k/yr (I may decide to not keep it, and that would be costly if I exceeded the miles). I'm paying like $900 more overall for the two years than if I did 10k/yr. But the residual went down by just as much, so if I do decide to keep it at the end of the lease, there'll be no difference between the two scenarios.
Of course, I have no intention of paying the lease off early. I did eventually get the MF of 0.00034 I'd been promised, so my rent charge amounted to less than $300. If I do keep the car at the end of the lease, my out-the-door will be $24k (all taxes and fees included). I think this is a pretty decent deal.
BTW, the dealers turned out to be very reliable after all. I went there with no official contract (just the one they had sent by email after I pointed out their mistakes). They didn't try anything fishy once they got me into their dealership.
Before I got out of the flatlands north of NYC:
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IndigoBlueWagon
TDIClub Enthusiast, Principal IDParts, Vendor , w/
I just filled my GSW for the first time. MFI FE was optimistic by 6 MPG. Maybe it'll improve.
aditud
Veteran Member
Yeah, I purchased it in White Plains, about 22mi north of Grand Central Station. Then I took 287, then 78 until I crossed into PA at Easton. It all seemed pretty flat and the MFD was still at 57mpg+ as I was approaching Easton.Congrats !
Flatlands by NYC ... luv that !
MFD-read 55mpg is more like 50mpg in reality. But can't complain.
I drove it again today for about 100mi, mostly on 79 north of Pittsburgh (showed 52mpg as I parked it back in the garage). Man, I think I'm learning the transmission...it's a blast to drive! Love all that low-end grunt and how I don't ever need to downshift on steep hills. It felt smoother than yesterday in city traffic too. Yeah, I'm learning; I've owned manuals before but this is my first manual diesel
. I've been driving them (VW, Renault, Peugeot) in Europe for like three weeks or so almost every summer since 2005 but, with one exception (a Routan with a 2.0L TDI; not a minivan, it was more like an SUV), they had 1.6L CDI or TDI engines. These feel more like gas engines, they're running at higher RPM's.aditud
Veteran Member
OK. On the one going for the buyback in early July the MFD is about 7% optimistic, on average. That's a '15 GSW TDI SE DSG. I've yet to measure the new one's economy at the pump.
r11
Veteran Member
yeah, she pulls like a school bus. I go up to Poconos every week, she climbs that long grade past the Crossings, at 80mph w/o breaking a sweat. Every now there will be an SUV that tries to keep up , but most of them back off when they realize they'd burn 1/2 of the tank doing that.
Yawiney
Veteran Member
Finally was able to get my account # from VW credit today. Printed my forms and sent the check. Unless the taxes and whatever fees when i go to register are crazy bad, i will have saved more than the dealer led me to believe by buying out early.
Still was hard to have that big chunk from buyback go right back out.
Dealer told me my total out the door would be 24.3. My buyout quote was 19.2 and iv'e only put in 2.4k in 1st payment and down payment combined. I think i'll only being taxed on the residual with is 12.3 or so. At least thats what the Bill of Sale has in it.
Still was hard to have that big chunk from buyback go right back out.
Dealer told me my total out the door would be 24.3. My buyout quote was 19.2 and iv'e only put in 2.4k in 1st payment and down payment combined. I think i'll only being taxed on the residual with is 12.3 or so. At least thats what the Bill of Sale has in it.
aditud
Veteran Member
Of course, you are right, especially if you can work out a deal with enough miles (so that it's affordable to drop the car at the end of the lease w/out paying serious over mileage). It did work in my case. When I walked in I told the finance guy I wanted a new contract drafted for 15k/yr allowance, but with the same parameters as before (same price, fees, MF) and a residual going from 48% down to 45%. I had figured it out that that would increase my lease payment total by about $900 over the two years, but the residual would go down by about the same amount (so if I do keep the car, the deal will be only twenty bucks or so more expensive).Lease in this particular case is unique in terms of what it affords you.
You have secured the car of your dreams for 2 years, at very modest premium ($600 or so). You DONT have to buy out the lease now, you can wait the entire 2Y, for $30 extra a month.
Unlike those that are holding for fix, in your case there's no risk. A nasty failure could nick the fixers for serious $$$$. You dont have that problem, everything is covered.
If in the meantime, say spring '19, VW or other company brings an uber-super-duper diesel to US shores, and your car is worth much more than the purchase price, you'd buy it and use it as trade-in etc. If the value instead, has plummeted, you walk away from the lease w nothing to loose.
There ARE some truly dedicated folx here that wont sleep well till they have the title
He honored that, so that's what I did (I would have probably still gone for it even if they had quoted me a 46% residual, that would only have been like $300 more or so).
Imanco
Member
To lease or not to lease 2015 jette SE
I will like your opinion on a 2015 Jetta SE i leased last nite, with 54 miles. This was from A vw DEALERSHIP IN vIRGINIA, but i live in MD where sales tax is 6%
i made a $1000 up front payment
sales tax was 1603.82
Agreed upon car value was 25219
Gross capitalized cost was 28364.82
capitalized cost reduction - 9126.21
adjusted capitalized cost 19238.61
residual value - 12215.3
depreciation 7023.31
rent charge - 1947.65 ( i got approved by vw for 4%, not zero, credit was 675)
Total base payment 8970.96
My lease term was 24 months, making my monthly payment $373.79
Other details....i did get the $8500 off, dealer charged 649 documentation fee and i paid acquisition fee of 625, but this numbers dont make sense and i feel i did not get a good deal.
I will like your opinion on a 2015 Jetta SE i leased last nite, with 54 miles. This was from A vw DEALERSHIP IN vIRGINIA, but i live in MD where sales tax is 6%
i made a $1000 up front payment
sales tax was 1603.82
Agreed upon car value was 25219
Gross capitalized cost was 28364.82
capitalized cost reduction - 9126.21
adjusted capitalized cost 19238.61
residual value - 12215.3
depreciation 7023.31
rent charge - 1947.65 ( i got approved by vw for 4%, not zero, credit was 675)
Total base payment 8970.96
My lease term was 24 months, making my monthly payment $373.79
Other details....i did get the $8500 off, dealer charged 649 documentation fee and i paid acquisition fee of 625, but this numbers dont make sense and i feel i did not get a good deal.
aditud
Veteran Member
Your APR is almost 6.2%, not 4%. Your money factor is almost 0.00258, one of the highest (double) I've seen with these TDi deals. But maybe that's the best your credit score could do.
However, the sales tax confuses me. It's supposed to only be levied on the lease, not the whole value of the car. And it your case it comes to about 6% of the price of the car.
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Imanco
Member
I have not picked up the car, any chance i can withdraw the lease, this is a rip off
r11
Veteran Member
Most states allow for cool-off/sleep-on-it period (1 day in NJ I think), where u can walk away w no penalties.
Can u pay cash for a CPO ? Assuming you have them buy back your '13 Passat (20K+ ?), it will be a wash or you'd even have money left, assuming you buy nice clean ~10K miles '15 Jetta TDI
Can u pay cash for a CPO ? Assuming you have them buy back your '13 Passat (20K+ ?), it will be a wash or you'd even have money left, assuming you buy nice clean ~10K miles '15 Jetta TDI
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IndigoBlueWagon
TDIClub Enthusiast, Principal IDParts, Vendor , w/
I recall that my dealer said that I needed a credit score over 700 to qualify for the low money factor lease or 0% financing. So maybe your lease cost is the best they could do. However, if you're turning a car in you can always pay the lease off early with buyback funds.
And I'm puzzled by the sales tax, too. All they should collect when you pick up the car is the first month's lease payment. And that payment should include state tax for the payment amount only. You'll pay sales tax on the residual if you buy the car at the end of the lease term. If you don't, you don't pay tax on the residual value.
And I'm puzzled by the sales tax, too. All they should collect when you pick up the car is the first month's lease payment. And that payment should include state tax for the payment amount only. You'll pay sales tax on the residual if you buy the car at the end of the lease term. If you don't, you don't pay tax on the residual value.
aditud
Veteran Member
I honestly don't know if it's possible. Check what the Maryland law says in that respect.
flargabarg
Veteran Member
- Joined
- Jul 31, 2005
- TDI
- 2011 Touareg Lux TDI
I've seen this before, but if you look in to it you'll probably find that it's only for stuff sold in the home. Either way it matters less as the poster has not actually taken delivery. If the tax is wrong the dealer should have no problem fixing it. Some states have weird rules around sales tax and leases, but you only owe the tax once. And that is not a great money factor, I wonder what the credit score was? If it's in the 600s it still might be better than most loans, or the dealer could have marked it up.
aditud
Veteran Member
If the wrong tax was put in the contract, you may just tell them that and refuse to sign a new contract with accurate tax. It may be your only way out.
Here is another point of reference on taxes.
I leased a manual TDI Jetta SEL and manual Jetta S this week (exhausted from all the flying/driving!) West coast dealer charged my state's 9% lease tax on the entire 8500$ rebate. It shows up on a preprinted section labeled 'tax due on cap cost reduction'. This is frustrating because I showed them official state documents saying rebates aren't taxed and had them talk to an F&I manager in my state who agreed the $8500 wasn't taxable. I still signed under duress due to the SEL 6M Jetta being like a unicorn I am filing an appeal with my state dept of revenue.
Southern dealer had no problem marking in their finance software that there was no tax on the 8500$ rebate cap cost reduction.
Imanco, you paid alot of extra $ to the dealer who marked up your lease rate. BOTH of my dealers marked up the interest rate from money factor .0032 0.49% to .0172 (4%), but then negotiate way down. You are basically paying $85/month in interest with the majority of it being dealer profit above your official VW approved rate The dealer fee of 649 makes up $30 a month worth of pmt and taxes. Unless you got a rare 6 speed manual, I second the above suggestions to not pick it up. If you are from MD, a google search shows they just tax each monthly lease pmt. It looks like they taxed the cap cost reduction or taxed you on the whole car.
What aditud said would work if dealer wants you to sign a new lease you always have the option of refusing. ( I just had a dealer give me option to resign or ship it back on their dime from over 2000 miles away due to a sub $50 contract error that VW rejected!) All the dealers worry is whether or not VW credit accepts the lease. They may still accept it with tax issues, since the VW lease provision gives them a right to charge you more tax if needed after the fact.
I leased a manual TDI Jetta SEL and manual Jetta S this week (exhausted from all the flying/driving!) West coast dealer charged my state's 9% lease tax on the entire 8500$ rebate. It shows up on a preprinted section labeled 'tax due on cap cost reduction'. This is frustrating because I showed them official state documents saying rebates aren't taxed and had them talk to an F&I manager in my state who agreed the $8500 wasn't taxable. I still signed under duress due to the SEL 6M Jetta being like a unicorn I am filing an appeal with my state dept of revenue.
Southern dealer had no problem marking in their finance software that there was no tax on the 8500$ rebate cap cost reduction.
Imanco, you paid alot of extra $ to the dealer who marked up your lease rate. BOTH of my dealers marked up the interest rate from money factor .0032 0.49% to .0172 (4%), but then negotiate way down. You are basically paying $85/month in interest with the majority of it being dealer profit above your official VW approved rate The dealer fee of 649 makes up $30 a month worth of pmt and taxes. Unless you got a rare 6 speed manual, I second the above suggestions to not pick it up. If you are from MD, a google search shows they just tax each monthly lease pmt. It looks like they taxed the cap cost reduction or taxed you on the whole car.
What aditud said would work if dealer wants you to sign a new lease you always have the option of refusing. ( I just had a dealer give me option to resign or ship it back on their dime from over 2000 miles away due to a sub $50 contract error that VW rejected!) All the dealers worry is whether or not VW credit accepts the lease. They may still accept it with tax issues, since the VW lease provision gives them a right to charge you more tax if needed after the fact.
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Yawiney
Veteran Member
I'm paying $700 in "taxes on capitalized cost reduction" in California. I'm now wondering if that is something i can get out of?
Worth asking a trusted CA car dealer F&I mgr or calling CA revenue dept to ask 1) if CA requires tax on mfr rebate incentives applied at purchase 2) if CA requires tax on ALL cap cost reductions or just some categories (customer additonal prepay\down payment, mfr rebate, or customer trade in credit).
Yawiney
Veteran Member
Well, i just looked at my account on vw credit and it's closed. Sent the check on Fri. Only made 1 payment besides the buyout. Might be too late to try to get back the $700 now.. Happened fast.
aditud
Veteran Member
Found this online before I picked up my car:
States That Do Not Tax Cash Rebates
Alaska
Arizona
Delaware
Iowa
Kansas
Kentucky
Louisiana
Massachusetts
Minnesota
Missouri
Montana
Nebraska
New Hampshire
Oklahoma
Oregon
Pennsylvania
Rhode Island
Texas
Utah
Vermont
Wyoming
So, it looks like California DOES tax it. You didn't pay anything more than you should have, you're good.