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cpo jetta gls & latest mf & rv rates?

1154 Views 9 Replies 3 Participants Last post by  VeeDubDriver
A local dealer has a CPO 2000 Gls 2.0 with 32k, leather, and luxury pkg. They are asking 15999. What do you think they'll say if I offer 15000? Would anybody know the latest mf and rv rates from VW?
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Re: cpo jetta gls & latest mf & rv rates? (macsnjets)

Depends on if it is an automatic or not. Also, are you looking for lease rates and residuals on this vehicle or a new one?
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.
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Re: cpo jetta gls & latest mf & rv rates? (macsnjets)

First off, for more info on CPO VW's and the opinion of a VW salesman and myself check this thread: http://forums.vwvortex.com/zerothread?id=237877
To answer your questions, none of the prices include any applicable fees such as the aquisition fee or bank fee, security deposit, dealer fees or tags.
Now, the money factor and residual values on the 1.8T are as follows:
24 mos - .00195 65%
27 mos - .00195 63%
30 mos - .00195 61%
36 mos - .00157 57%
39 mos - .00180 55%
42 mos - .00185 53%
48 mos - .00190 49%
Since you will only have 2 years worth of warranty coverage on the CPO Jetta, I wouldn't feel comfortable leasing it longer than that.
Driver's Option is basically balloon payment financing. Pretty much like a lease except the title is in your name. At the end of the term, you can either pay the balloon payment or turn the car in. Biggest disadvantage is that you have to pay all of the sales tax up front instead of paying sales tax monthly on only the portion of the car you use on a lease. I agree with the dealer and I think you should avoid it.
If cash flow is tight, leasing is better than buying. Let's say you lease the 1.8T for 36 mos. With tax, your payment is approx $300/mo. If you were to buy that car and finance it for 5 years at 4.9% interest (which is the special interest rate on that car right now), in order to equal that payment you would have to put down almost $6500.
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Re: cpo jetta gls & latest mf & rv rates? (jasondylan)

I can get the same info calling up any number of VW dealerships. This information is not some sort of corporate propriatary info. In fact, all of this information must be disclosed when someone enters into either a lease or finance agreement.
Instead of complaining, why not offer some help and advice to your fellow dubbers, or are you just here to bitch?

[Modified by VeeDubDriver, 4:41 PM 2-15-2002]
Re: cpo jetta gls & latest mf & rv rates? (jasondylan)

I call dealers all the time requesting lease rates and the vast majority will tell me. Yes, some refuse to, but most don't. Sure they can mark up the lease rate, just like they can mark up the car. Do you really think marking up the lease rate is the only way a dealer makes money? If that were the case, then the dealers that I have leased cars from must have not made a dime because they sure didn't mark up the lease rate.
Do you have any other purpose on this forum? You have all of 7 posts and all of them are complaining about consumers being informed and educated.
Why not take a look at this thread: http://forums.vwvortex.com/zerothread?id=249312
Just another example of a dealer trying to rip off the consumer. Are all dealers this way? No, they are not. The Acura dealer my mother-in-law leased her car from was upfront with everything, including the money factor (and this was before they knew who I worked for). They did everything they said they would do and they made a fair profit. If more dealers were open and honest like that Acura dealer was, then perhaps delaers would not have the reputation they now have.
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