Re: cpo jetta gls & latest mf & rv rates? (macsnjets)
OK, $15000 for that car would be a decent price. However, there are some things to realize if you are going to lease this car. First, you only have a 2 year/24K mile limited warranty, and the powertrain will only have a warranty for the balance of the 5 year/50,000 mile warranty. So, if you lease this car longer than 2 years, you will not have any warranty protection. This means that if anything breaks after two years, you will have to pay to fix a car that you will have to return. In other words, you will be paying to fix someone else's car.
On the other hand, a new car has a 4 year/50K mile bumper to bumper warranty. This means that you can lease for as long as 4 years and still have complete warranty protection.
According to the information I have, the money factor on that CPO Jetta is .0024 for up to 36 months. Residual value for 24 months is $9575 and for 36 months it is $8,300. However, you must deduct $.10/mile for every mile over 30,000. In your case, this is $200. So the real residual is $9375 and $8100 respectively. I honestly don't know if you can add the leather and lux package values to that amount, but I suspect not. Based on those numbers and a selling price of $15,000, I come up with a 24 month lease payment of $285.02 plus sales tax and a 36 month lease payment of 247.11 plus sales tax.
If you wanted to compare apples to apples and lease an '02 GLS with leather and lux, your payment would be around $342.94 for 24 mos, $291.97 for 36 mos, $290.44 for 39 mos, $285.16 for 42 mos, and $273.72 for 48 mos. All payments are plus sales tax. This is with an MSRP of $20275 and a cap cost of $19,600. I think you could do better than that cap cost, but I wanted to figure high.
For the 1.8T GLS with leather and lux the payments for the same term would be as follows: $342.68, $284.99, $285.61, $281.00 and $272.09. Again, all plus tax. MSRP of $22,375 and cap cost of $21,100. The reason the 1.8T is less even though it is more expensive is because VW credit has lower money factors on the 1.8T vs the 2.0.
These leases are all for 12K miles/year since that is the term you have to use for the CPO lease.
If it were me, I would go for the 1.8T. You get a brand new car, a longer warranty, more airbags, traction control, etc, etc.