No lease specials anymore.

[pezzy84]

So the Sportwagen TDI in my sig is falling apart in spectacular fashion so we are dumping it ASAP. Writing has been on the wall for a little while but we were pushing to get some more time out of it.

As we all know it is not time to have to make a purchase or lease and I can attest now that lease specials are all gone. Best I was able to gather was $500/month for a rental spec VW Taos or a screaming deal of $385/month for a rental spec last model year Jetta. These are best lease prices for top tier credit - no thank you. Going to look at some 8-10 year old Audi's that we can pay cash for and stash away repair funds. Sorry not sorry but I am not paying almost $14k to rent a Jetta or $18k to rent a Taos for 3 years.

 

[Leo99]

I was looking for lease deals, too. Don't even see them listed anymore on the dealer websites. The dealers have no idea about residuals in 3 years. The market is so unstable.

 

[Rand]

ok so why the heck are leases so high it goes off residual and
500 a month for a crosstrek@12k/year these were $300 every day of the week before.

more scalping?

edit more numbers:
crosstrek 380 a month 36month 2000 at signing. 10k miles/year
/barf
Thats 15600 on a 24-26k car

Probably just another way to sock it to people in this market I guess.
I'd buy no way a crosstrek is going to be worth 10k after 3 years.

 

[eljefino]

Banks don't want to take chances with car values 2 years from now.

 

[Audiman]

As far as VAG group are concerned they are prioritising dealer customer new car purchases over anyone else at the moment so your lease companies are not getting the stock at the price they used to. If the lease companies want cars they have to pay proper prices rather than getting the discounts they used to get.

 

[2005jettatdi]

I completely fail to understand why anyone would lease when purchasing with dealer financing costs less. It looks like a lease three years ago is working out today, but who could have predicted the current car shortage?

 

[JTK]

ok so why the heck are leases so high it goes off residual and
500 a month for a crosstrek@12k/year these were $300 every day of the week before.

more scalping?

edit more numbers:
crosstrek 380 a month 36month 2000 at signing. 10k miles/year
/barf
Thats 15600 on a 24-26k car

Probably just another way to sock it to people in this market I guess.
I'd buy no way a crosstrek is going to be worth 10k after 3 years.

Maybe I'm missing something here, but I know in my area, a 3yr/old Crosstrek, even in pre 'rona dollars retailed for darn near what a new one can be had for.

In 2016, I got around a $17K+ trade-in allowance for my 2014 base model 5spd MT Crosstrek. I paid around $21K+TTL new.

I hear what everyone is saying though. Now is a terrible time to lease, or be in the market in general.

 

[Rand]

Maybe I'm missing something here, but I know in my area, a 3yr/old Crosstrek, even in pre 'rona dollars retailed for darn near what a new one can be had for.

In 2016, I got around a $17K+ trade-in allowance for my 2014 base model 5spd MT Crosstrek. I paid around $21K+TTL new.

I hear what everyone is saying though. Now is a terrible time to lease, or be in the market in general.

Right, let me clarify to make sure we are on the same page.
I was saying with their high lease payments its such that it would only be 10k more to buy it.
and the car is clearly worth much more than $10k at 3years and 30k miles on it.

 

[ripcord]

A $385 a month Jetta is going to be cheaper in the long run than a 10 year old Audi.

 

[2005jettatdi]

A $385 a month Jetta is going to be cheaper in the long run than a 10 year old Audi.

A well maintained car, like my 17 year old Jetta TDI, will last forever. Yes, it require some bigger investments once in a while, but still cheaper than a new one.

 

[ripcord]

A well maintained car, like my 17 year old Jetta TDI, will last forever. Yes, it require some bigger investments once in a while, but still cheaper than a new one.

Not if it's constantly in for repairs needing extremely expensive parts... cough(audi)

 

[2005jettatdi]

Not if it's constantly in for repairs needing extremely expensive parts... cough(audi)

Expensive two years ago, but worth it. Still far less than a new Jetta, which would not be as good a car. A couple of car payments a year are worth it to keep a really good car. Next up is new struts. The old ones are 12 years old.

 

[ripcord]

Expensive two years ago, but worth it. Still far less than a new Jetta, which would not be as good a car. A couple of car payments a year are worth it to keep a really good car. Next up is new struts. The old ones are 12 years old.

I totally agree with you, btw, a paid off car is usually cheaper to keep on the road than making car payments. I just have a bad opinion of Audi's after watching my poor co-worker sink $2000 after $2000 into repair bills into his 2012 TT over the past year or two. Half of the things on his dash haven't worked in years and it's been in the shop so many times. If you look in an Audi repair manual, way too many repairs start with "Remove the front bumper".

 

[Rand]

A well maintained car, like my 17 year old Jetta TDI, will last forever. Yes, it require some bigger investments once in a while, but still cheaper than a new one.

hahahahahahahahahahaha, oh you dont live in salt belt.

 

[2005jettatdi]

hahahahahahahahahahaha, oh you dont live in salt belt.

Okay, I gotta agree with that one.

 

[Audiman]

Anyone sinking thousands into an Audi every other month is taking it to the wrong mechanic.

 

[Nick1994]

Going to look at some 8-10 year old Audi's that we can pay cash for and stash away repair funds.

As another poster said, would probably be cheaper to buy a new Jetta and sell it after a few years

 

[CKN]

I completely fail to understand why anyone would lease when purchasing with dealer financing costs less. It looks like a lease three years ago is working out today, but who could have predicted the current car shortage?

This has been discussed on here forever. Some people lease -get over it.

 

[CKN]

A $385 a month Jetta is going to be cheaper in the long run than a 10 year old Audi.

I would agree here.....sometimes we need to accept if we are in a certain situation and something costs more and we need it.....well.

 

[Wolf359]

I completely fail to understand why anyone would lease when purchasing with dealer financing costs less. It looks like a lease three years ago is working out today, but who could have predicted the current car shortage?

Depends on the dealer and the deal. Sometimes dealers offer better deals on lease than purchases. Sounds like you're just going to dealers that offer better deals on purchases than leases. They're not all the same. Some states only charge you sales tax on the portion of the lease that you actually use so you don't get hit with the full sales tax on a purchase. If you buy a car and sell it in 3-5 years, you won't get any of the sales tax back unless you trade it in on another car and the state lets you get back the sales tax. And the other way the manufacturer subsidizes the lease is that they set an artificially high residual value so that at the end of the lease, the purchase price is higher than market value. That means you paid less for the lease than they originally though. So the lease can end up being cheaper than a purchase. But it all depends, can't make blanket statements and you always have to run the numbers to see if it's good or not. Leasehackr.com has a good calculator.