Mcodox

Hi,
I received the below quote back from VW using their Foreign Expat scheme. I know very little about leasing - can anyone give me an opinion on these figures, or anything I should ask / find out to establish if it makes sense... Thanks!

Quote...
The factor on the Tiguan is .00013 to .00095, depending on the model they pick (S, SE, or SEL). The Touareg is .00024 to .00129, same as above.

The 2013 Tiguan Lease Special.

$199*/Month. 36-month lease. $2,999 due at signing. (Excludes title, tax, options and dealer fees.)

Lease a 2013 Tiguan S fwd with automatic transmission for $199* a month. 36-month lease, $2,999 due at signing. (Excludes title, tax, options and dealer fees). See your local VW dealer for this limited time offer or for one of many other great lease deals available on Tiguan models. More about the Tiguan.

National Offer | Offer ends September 30, 2013

*Based on MSRP of $25,835 (including destination charges) for a 2013 Tiguan S fwd with automatic transmission, excluding title, tax, options and dealer fees. Monthly payments total $7,164 and include $625 acquisition fee. Requires dealer contribution of $2,795.77, which could affect final negotiated transaction. Purchase option at lease end for $13,950.90. At lease end lessees responsible for $0.20/mile over 36,000 miles and excessive wear and tear. Dealer sets actual prices. Lessee responsible for insurance. Closed-end lease offered to highly qualified lessees on approved credit by Volkswagen Credit through participating dealers. Supplies limited. U.S. cars only. Excludes Puerto Rico. Additional charges may apply at lease end. See your Volkswagen dealer for financing details or for general product information call 1-800-Drive-VW. ©2013 Volkswagen of America, Inc.

The 2013 Touareg Lease Special.

$499*/Month. 36-month lease. $3,999 due at signing. (Excludes title, tax, options and dealer fees. Excludes TDI® Clean Diesel and Hybrid models.)

Lease a 2013 Touareg VR6 Sport with automatic transmission for $499* a month. 36-month lease, $3,999 due at signing. (Excludes title, tax, options and dealer fees. Excludes TDI® Clean Diesel and Hybrid models). See your local VW dealer for this limited time offer or for one of many other great lease deals available on Touareg models. More about the Touareg.

National Offer | Offer ends September 30, 2013

*Based on MSRP of $44,820 (including destination charges) for a 2013 Touareg VR6® Sport with automatic transmission, excluding title, tax, options and dealer fees. Excludes TDI® Clean Diesel and Hybrid models. Monthly payments total $17,964 and include $625 acquisition fee. Requires dealer contribution of $5,687.94, which could affect final negotiated transaction. Purchase option at lease end for $19,272.60. At lease end lessees responsible for $0.20/mile over 36,000 miles and excessive wear and tear. Dealer sets actual prices. Lessee responsible for insurance. Closed-end lease offered to highly qualified lessees on approved credit by Volkswagen Credit through participating dealers. Supplies limited. U.S. cars only. Excludes Puerto Rico. Additional charges may apply at lease end. See your Volkswagen dealer for financing details or for general product information.

Bob

Find out what the options and dealer fees are.

12K miles a year is a bit shit, you could easily blow through that if you have a commute or want to explore anything more than the grocery shop, so that could be expensive.

Get them to list what excessive wear and tear is. Got friends who got dinged big time because of the scuffed bumpers in Boston, whilst other folks had parking scuffs and door scuffs as acceptable wear and tear for Boston driving and didn't have to pay extra. And depending on where you live/work, the car will get scuffed.

Also know someone paying $420 a month for a Jetta, over 36 months, but I don't know the mileage or how much was put down on signing but I think it was 13K miles a year.

Worth finding out what penalties there might be on breaking the lease, in case you have to move or whatever.

Pulaski

I agree with Bob, the 20¢/ mile over 12,000/yr is likely to burn you badly, unless you live very close to work. If you do 15,000 miles a year you'll get landed with an almost $2,000 excess mileage charge, at 20,000 miles it'd be almost $5,000. We have mostly done about 30,000 miles per year which for us would push the excess charge well over $10,000.

If you plan a long road trip vacation it might make sense to park your car and rent one, if you were to fly back to the UK for two weeks a year that would also provide partial mitigation.

Mcodox

Anyone got an opinion as to if this is good value though? No idea what the factor means or how this compares to financing or buying outright.

Fair point on miles, I'll get requote with more and see difference. We need two cars so I may buy one lease and one used and then if lease car miles start getting up, can just drive used car more.

Bob

First one sounds better than the second....but neither sound that special.

It's all about the details though....and what you can get I suppose.

NatashaB

Exactly. You would probably be best off with a Ford Escape or similar - they are similar prices but with 0 down. The question is whether Ford would lease to you if you don't have any credit history. $199 a month isn't bad though for what you've posted above.

We lease a VW and we only get charged 10c per mile if we go over the allowance. You might want to double check that and question it with them. They may waive those charges if you take out another lease or finance with them when you turn your vehicle in - our VW dealer did. Is there a turn in fee if you don't stick with VW afterwards? there is on ours.

It's not hard at all to go over 1k miles a month without even trying... we have to be careful to stay within the mileage allowance.

Pulaski

Are you buying a VW because that is what you want, or just because you've been offered a lease relatively easily? If the latter I would look at other brands because VW's are slightly oddball machines, that are experiencing a decline in market share while the company has grand plans to grow the brand that don't appear to be working out. As far as I know VW's don't have the bullet-proof reputation here in the US that they did in the UK when I left 12 years ago.

sir_eccles

I would second this. VW(US) is not the same as VW(Europe). In fact my mechanic often jokes that VW will be helping send his kids through college.