[Dsstarns]

I have a 2023 on order since August 2023.Today I was contacted by the local dealer; they have a car that was delivered today just like the car I ordered. Okay here is the pitch that I was given...
I could take possession of this car under a lease agreement and receive $7500 in an instant incentive. If I lease. Then they went onto say, don't cancel your order let the car come in and then cancel so they can then sell it on their lot. I would get back my $500 deposit. Then I could convert my lease over to purchase the car outright in a few months.
Guys I need your thoughts and advise.

 

[tacomambo]

they want to get rid of their 22 model.. and they want to keep your 23 order so they can sell at mark up. make sure to twist their arms for big incentives... under msrp + 7500 incentives on that lease and low interest on payment

 

[GreyID4]

I have a 2023 on order since August 2023.Today I was contacted by the local dealer; they have a car that was delivered today just like the car I ordered. Okay here is the pitch that I was given...
I could take possession of this car under a lease agreement and receive $7500 in an instant incentive. If I lease. Then they went onto say, don't cancel your order let the car come in and then cancel so they can then sell it on their lot. I would get back my $500 deposit. Then I could convert my lease over to purchase the car outright in a few months.
Guys I need your thoughts and advise.

0. What model year is the car?
1. There is an income test starting 2023. Will you be eligible to get $7,500 in tax credit?
2. How much are they asking for the car? Does it include the Jan. 4th $1.5k increase? I say it should not.
3. When did you lock? Do you know when your reservation is scheduled for delivery? The battery requirement test MAY come into effect starting some time in March. Nobody knows for sure when.

Let's start with these questions first.

 

[VW Dave]

If it’s a ‘22 you have some leverage. If it’s a ‘23, not so much.

 

[Dsstarns]

0. What model year is the car?
1. There is an income test starting 2023. Will you be eligible to get $7,500 in tax credit?
2. How much are they asking for the car? Does it include the Jan. 4th $1.5k increase? I say it should not.
3. When did you lock? Do you know when your reservation is scheduled for delivery? The battery requirement test MAY come into effect starting some time in March. Nobody knows for sure when.

Let's start with these questions first.

ordered 2023 rear wheel drive
fine in income level
i locked in on September 1
delievery window given dec 2022 to Feb 2023. Checked with the dealership today, they have the same info as me.

 

[GreyID4]

they have the same info as me.

What is the model year of this car? The one in the dealer's lot now.

 

[Dsstarns]

What is the model year of this car? The one in the dealer's lot now.

2023

 

[ThisSucker'sElectrical]

If I were planning to buy, and an identical, unspoken for match showed up at the dealer who I was planning to buy from, I would be pushing them VERY hard to just sell me that car. You'd be doing nothing more than closing the loop on a logistical puzzle piece that VW wasn't able to do for you.

 

[GreyID4]

2023

You wrote, "Then I could convert my lease over to purchase the car outright in a few months".

How will you purchase the car outright? Will you be financing (do you know what your interest rate will be?) or cash?


We are almost done.

 

[HL1315]

Sounds like this is just a way for them to get some lease-associated fees from you (which might be worth it to you to get the $7500 sooner rather than later). I'm thinking of doing the same with an available '22 if the price is right. But I've calculated I'd need to buy out the lease pretty much right away for it to make sense. Lease fees and interest can wipe out the discount really fast.

 

[Omladinac]

We did the lease thing yesterday and my estimate is that if you do the buyout before your second payment (and you get the welcome letter or whatever from VW), you'll be loosing some $1300 off the $7500 rebate passed from VW. If that calculation is right, I would consider it a decent deal if you don't qualify for the full FTC or if you don't want to wait next tax filing to get the discount. We've been waiting for Chattanooga built Standard (62kwh) that is not in production yet. Yesterday, we bought what appears to be the very last German built 22MY (10/22 build). It is Pro, 3.1.0 SW, 82kwh battery and flawless build for $700 more total than what we'd be paying for our 23 Standard. We plan on keeping it for couple of years, so MY won't really matter, if at all. We basically gave up on id4 with the recent price hike and decided to buy Model Y. So yesterday on our way to Tesla test drive, I convinced my wife to stop by the nearby VW as I knew they had a 22 Pro available. Long story short, I loved Model Y a lot and I'll certainly buy one in the future, but id4 was way more comfortable, well composed and attainable at $42k price point. So, if everything works out as calculated, we'll be getting a brand new id4 with up to 280mi range for ~39k taxes and reg included. Still good in my book considering glitches with the carnet we are already laughing at. Our Bolt can be "turned on", locked/unlocked, defrosted without any issues. In VWs place, I'd be pulling the app off the market until basics get sorted. I don't know how are they getting away with this in other markets (EU/Asia)...Anyways, good luck with your lease.

 

[Don]

As is the case with every car dealer, remember who he is working for and whose best interests he has in mind with any 'deal' he proposes - Hint, it isn't you . . . .

If it sounds too complicated for an intelligent person to completely comprehend, you're probably getting the short end of it somewhere along the line. He's demanding you lease it for a reason and not because it benefits you in any way, so you know who it does benefit

 

[Nai3t]

I'll just add that a handful of members on this forum have crunched the numbers and bought out their leases, but each lease is different so post back here with the terms they're pitching you. It's not necessarily a bad deal, more necessarily a good deal, until you have the numbers.

Secondly, as @GreyID4 mentioned, what is the MSRP on this vehicle? If it's the "old" price, you're already $1,500 ahead of the car you're waiting to be delivered.

 

[Mrau]

A good reason to lease a 2023 model is to immediately get the $7500 off the MSRP price. People that will not qualify for the the $7500 tax credit due to income caps or not enough tax liability should look into this.

Folks who qualify for the $7500 tax credit may be better off financing/cash since the overall 3 year lease terms are not that great.

 

[GreyID4]

A good reason to lease a 2023 model is to immediately get the $7500 off the MSRP price. People that will not qualify for the the $7500 tax credit due to income caps or not enough tax liability should look into this.

Folks who qualify for the $7500 tax credit may be better off financing/cash since the overall 3 year lease terms are not that great.

I agree.
If the cost of lease is $750 (Lease acquisition fee etc), the immediate discount of $7500 from lease has value of $6750.
If you qualify for the $7500 federal tax credit, your payment of $7500 today can be looked as a $6750 14-month CD that pays 11% interest (not APR) TAX free.

 

[deepskier]

If they want you to keep your reservation after purchasing the car on the lot, make sure you get something for it.

 

[Ostrovit]

your situation is interesting. Please share what you ended up with.