saintforlife
Posts: 9
Joined: Thu May 26, 2016 9:39 pm

Re: 2016 eGolf SE: $2500 down, $79+tax per month, 7500 miles

miimura wrote:
saintforlife wrote:Wife was adamant that we didn't put anything down and roll everything into the monthly payment. We ended up with $263 per month for a 10,000 mile 3 year lease on a 2016 SE base model.

Here is how the lease broke down:

Capitalized Cost Reduction: $7500
First monthly payment: $263.51
Registration fees: $259
Acquisition fee: $625
Cal tire fee: $8.75
Electronic vehicle registration: $15.50
Acq. fee tax: $54.69
Doc fee/CCR Tax: 663.25
Total: $9469.70


Gross Capitalized Cost: $25849.68
Capitalized Cost Reduction: $7500
Adjusted Capitalized Cost: $18,349.68
Residual Value: $11,680.50
Depreciation and any amortized amounts: $6,669.18
Rent charge: $2053.98
Total of base payments: $8723.16
Base Payment: $242.31
Sales/use tax: $21.20
Total payment: $263.51

I can't help but feel that we paid too much in rent charge and the residual was too low. No idea what Doc fee/CCR tax is and why it is so high? The problem is the dealer does not show these detailed numbers until the contract is ready to be signed. They make you sit in a room and wait long periods of times between questions and only discuss vague per month numbers. With the $2500 CA rebate, we will pay around $7500 over the 3-year lease.

Could we have done better for $0 down? We literally didn't put a single dollar down. By the way we bought the car during the labor day weekend.
The CCR Tax is your local sales tax on the $7,500 Cap Reduction. The rent charge is the effective interest rate. I don't think I would have signed that lease because you're basically paying $57/mo in interest. The other way to look at it is VW Credit allegedly gets the Federal Tax Credit of $7,500, but they only passed through (7,500-2053.98-625) $4,821.02 of it to you. BMW was doing that for a while on the i3 - passing through about $4,800 of the tax credit claiming that was the only benefit they got.

Our 2015 LE only had a rent charge of $119.37 and the residual was $13,022.60.

According to LeaseHacker, some leasing companies allow you to put in a refundable security deposit to reduce the rent charge. I've not specifically heard of VW Credit doing this.
Thanks for the feedback. How much down payment did you put down for your car and what is your monthly payment if you don't mind me asking?
bizzle
Posts: 370
Joined: Thu Oct 29, 2015 7:34 pm

Re: 2016 eGolf SE: $2500 down, $79+tax per month, 7500 miles

I don't have my paperwork in front of me, but my wife and I got our SE with zero pennies out the door and 199 monthly payments coming to 213 or 216 after taxes. We also included the extended coverage for that price, which was around $600.
jiuer7845
Posts: 175
Joined: Tue Jun 21, 2022 7:31 pm

Re: 2016 eGolf SE: $2500 down, $79+tax per month, 7500 miles/yr

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