If you want to understand the ins and outs of leasing, you should check out www.leasehackr.com
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ID4 Leasing questions
Hi all, I was supposed to pick up my ID4 Pro car today, but the dealership has been less than helpful in sending me financial info ahead of time, so I won't be going to the dealership until I have it all in advance to check. I have never leased and I have done a ton of research and looked at leasing examples of previous ID.4 buyers who have posted here, but I still have a few questions that I hope someone can answer. I am in Virginia, so bonus points to Virginia residents who can tell me if I need to pay a "dealer business license tax" of $84 or if that is a junk fee.
- If I want to walk away with zero due at signing (except VA tax, which needs to be paid upfront), does the dealership get to include ALL fees into Gross Capitalized Cost? (selling price, doc fee, acquisition fee, and registration fees)? Is that how no money down works in leasing?
- Should the $500 I already paid go into the capitalized cost reduction section or somewhere else?
- Is it unreasonable to ask them to send me the lease agreement "mock-up" in advance so I can see exact numbers? I have asked for this and they keep sending me info on a "buyers order" which has included some numbers, but I've had to ask for things like the gross capitalized cost and other lease-specific items, such as residual value (49% for 10,000 miles in this case) and rent charge, which are things I need to see if they are giving me the correct MF.
- Is the final number for the 49% residual value calculated using the MSRP OR the MSRP + destination charge OR is it based on Gross Capitalized Cost?
- I do know that they said the $7500 plus the $500 deposit would be used as the Capitalized Cost Reduction.
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Yes, thanks!If you want to understand the ins and outs of leasing, you should check out www.leasehackr.com
I've learned a lot from that site. But still have some more ID4 specific things that aren't as obvious to me.
There are lease examples (I've posted mine) on the forums here with some discussions that you may find helpful.
FWIW, for my lease with VW, I calculated my miles altogether for a year and added 3 vacation drives to spec out 20,000 a year. That's the range we wrote. Very happy with the terms. Good luck!
You need to go in and talk to the finance guy mono o Mano. The 49% is in line. My 500 military discount was added to the 7500 gov rebate for a total of 8000. The MF is negotiable but it’s a hot car so they won’t move much. You are taking a chance by not going in to face finance. I’m sure the car won’t stay on the lot long. They very well could sell the car to the next guy in line willing to come in and negotiate. Short answer the rules in car selling leasing whatever are there are no rules.. I wish you good luck with this journey. 😱Hi all, I was supposed to pick up my ID4 Pro car today, but the dealership has been less than helpful in sending me financial info ahead of time, so I won't be going to the dealership until I have it all in advance to check. I have never leased and I have done a ton of research and looked at leasing examples of previous ID.4 buyers who have posted here, but I still have a few questions that I hope someone can answer. I am in Virginia, so bonus points to Virginia residents who can tell me if I need to pay a "dealer business license tax" of $84 or if that is a junk fee.
This is not how I wanted to spend my Mother's Day! Thanks in advance!!
- If I want to walk away with zero due at signing (except VA tax, which needs to be paid upfront), does the dealership get to include ALL fees into Gross Capitalized Cost? (selling price, doc fee, acquisition fee, and registration fees)? Is that how no money down works in leasing?
- Should the $500 I already paid go into the capitalized cost reduction section or somewhere else?
- Is it unreasonable to ask them to send me the lease agreement "mock-up" in advance so I can see exact numbers? I have asked for this and they keep sending me info on a "buyers order" which has included some numbers, but I've had to ask for things like the gross capitalized cost and other lease-specific items, such as residual value (49% for 10,000 miles in this case) and rent charge, which are things I need to see if they are giving me the correct MF.
- Is the final number for the 49% residual value calculated using the MSRP OR the MSRP + destination charge OR is it based on Gross Capitalized Cost?
- I do know that they said the $7500 plus the $500 deposit would be used as the Capitalized Cost Reduction.
Be careful to not confuse "no money down" with "no money due at signing". You can drive away with a car without paying anything that day, if all charges are rolled into the lease, except that in your case VA law says otherwise with regard to tax.Hi all, I was supposed to pick up my ID4 Pro car today, but the dealership has been less than helpful in sending me financial info ahead of time, so I won't be going to the dealership until I have it all in advance to check. I have never leased and I have done a ton of research and looked at leasing examples of previous ID.4 buyers who have posted here, but I still have a few questions that I hope someone can answer. I am in Virginia, so bonus points to Virginia residents who can tell me if I need to pay a "dealer business license tax" of $84 or if that is a junk fee.
- ..... Is that how no money down works in leasing?
Yes.Should the $500 I already paid go into the capitalized cost reduction section ...?
Market forces make me think they have no reason to do this.Is it unreasonable to ask them to send me the lease agreement "mock-up" in advance so I can see exact numbers?
Off the MSRP only.Is the final number for the 49% residual value calculated using the MSRP OR the MSRP + destination charge OR is it based on Gross Capitalized Cost?
So what did you end up doing ?
Dealers can give you an itemized lease sheet with everything you ask for, but more often than not it just confuses them because nobody ever goes in knowing how to lease cars properly. It took a long time for us to get one from Toyota with a breakdown of all the taxes and fees, and they said it was the first time anyone had ever requested it. Usually the customer just asks for the payment and that's it.
You're doing this the right way, the dealer just needs to step-up and get the correct info from the finance guy. I wouldn't bother going in unless they can show you what the price will be up front. There's plenty of 1st editions in the US right now if you miss out on this one.
You're doing this the right way, the dealer just needs to step-up and get the correct info from the finance guy. I wouldn't bother going in unless they can show you what the price will be up front. There's plenty of 1st editions in the US right now if you miss out on this one.
Thank you! I went in last night at 7 because I finally got all my numbers. So tired of the back and forth via text and phone. This has been a nightmare dealership experience. I am capitalizing all costs except the upfront Virginia sales tax and the first payment. Capitalizing the rest doesn't add too much to the overall lease. The dealership initially wasn't willing to put the $500 in the cap cost reduction section, but then they did in the final papers. They initially had said it would just go toward my first payment. It took me four days to get all my numbers, which were initially presented on a buyers order and changed several times, so no official lease terminology, etc. And then at the end of the four days, they threw a new number at me--$500 security deposit for the lease. I had read this was only for people with less-than-stellar credit, but we have excellent credit. All other dealerships and VW's main site still say that no security deposit required with ID4 and no one on these forums seemed to be paying one. They claimed it is "new" for May in VW Credit's "bulletin" the dealership receives. I was talking to VW Customer Care reps (who have been excellent) and after a couple phone calls to the dealer they haven't been able to confirm why my dealership needs this. But hopefully because corporate got involved, they caved and said they would magically "waive" the need to do a security deposit--that's what got me into the dealership finally. In the end, we spent three hours at the dealership last night sitting around and five minutes signing papers. I drove our ID4 Pro home in the dark on a 9% charge even though I had asked them earlier in the day if it was charged. At least they washed the pollen off while we were there--it's a black car. But I'm done--got the numbers I wanted with the .00143 MF and the deposit in the correct place and no security deposit. Nearly killed me with all the stress, but now I can finally enjoy the car!Be careful to not confuse "no money down" with "no money due at signing". You can drive away with a car without paying anything that day, if all charges are rolled into the lease, except that in your case VA law says otherwise with regard to tax.
Wow, congrats. Leave them a “less than stellar” review 
when the VW survey comes for all of the runaround. Night and day experience compared to my dealer who was 100% transparent and just wanted to get rid of their ID.4 quickly.
when the VW survey comes for all of the runaround. Night and day experience compared to my dealer who was 100% transparent and just wanted to get rid of their ID.4 quickly.Wow what an ordeal. You did good in getting the higher ups involved to keep the dealer in line.Thank you! I went in last night at 7 because I finally got all my numbers. So tired of the back and forth via text and phone. This has been a nightmare dealership experience. I am capitalizing all costs except the upfront Virginia sales tax and the first payment. Capitalizing the rest doesn't add too much to the overall lease. The dealership initially wasn't willing to put the $500 in the cap cost reduction section, but then they did in the final papers. They initially had said it would just go toward my first payment. It took me four days to get all my numbers, which were initially presented on a buyers order and changed several times, so no official lease terminology, etc. And then at the end of the four days, they threw a new number at me--$500 security deposit for the lease. I had read this was only for people with less-than-stellar credit, but we have excellent credit. All other dealerships and VW's main site still say that no security deposit required with ID4 and no one on these forums seemed to be paying one. They claimed it is "new" for May in VW Credit's "bulletin" the dealership receives. I was talking to VW Customer Care reps (who have been excellent) and after a couple phone calls to the dealer they haven't been able to confirm why my dealership needs this. But hopefully because corporate got involved, they caved and said they would magically "waive" the need to do a security deposit--that's what got me into the dealership finally. In the end, we spent three hours at the dealership last night sitting around and five minutes signing papers. I drove our ID4 Pro home in the dark on a 9% charge even though I had asked them earlier in the day if it was charged. At least they washed the pollen off while we were there--it's a black car. But I'm done--got the numbers I wanted with the .00143 MF and the deposit in the correct place and no security deposit. Nearly killed me with all the stress, but now I can finally enjoy the car!
Do you recall how many miles were on the odometer when you finally started taking the car home?
Ordeal is right. 12 miles on the odometer.Wow what an ordeal. You did good in getting the higher ups involved to keep the dealer in line.
Do you recall how many miles were on the odometer when you finally started taking the car home?
Thanks! Yeah, I have plans to do a few reviews in various places...And to think I chose them because they had better reviews than some of my closer dealerships. And part of me wonders how much of this was because I am female. Sales thinking they can put one over on me because I don't know what I'm doing. Ha! Sorely mistaken on that one.Wow, congrats. Leave them a “less than stellar” review
Some of it is attributable to your sex and there is documented evidence of that variable impacting vehicle transactions like you've experienced. That said, your description is not an uncommon one even among male buyers--the $500, as you mentioned, is a new one to my ears, too.
Congrats on scoring a good deal by sticking to your principles and staying your course! I hope you will thoroughly enjoy your ID4.
I don't have stats, but pretty much all of my female acquaintances back after high school got hosed on a terrible car deal. So perhaps salespeople are keen to hone in on common victims.... part of me wonders how much of this was because I am female. Sales thinking they can put one over on me because I don't know what I'm doing. Ha! Sorely mistaken on that one.
That being said, they shouldn't generalize. Nothing by the way you write would indicate that you'll be a pushover, so all they're "achieving" is an upset consumer that doesn't overpay AND can now write a bad review. Lol.
Exactly!!I don't have stats, but pretty much all of my female acquaintances back after high school got hosed on a terrible car deal. So perhaps salespeople are keen to hone in on common victims.
That being said, they shouldn't generalize. Nothing by the way you write would indicate that you'll be a pushover, so all they're "achieving" is an upset consumer that doesn't overpay AND can now write a bad review. Lol.
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