Californians: Lease The Volkswagen e-Golf for $117/Month, $0 Down (Expired)

Program valid through January 4, 2016.

There are many good reasons for driving an electric car: they're zippy around town, cheap to operate, and incredibly energy efficient. They make the daily commute more bearable, as the absence of engine noise and the ability to travel solo in the HOV lane make for a calmer, zen-like driving experience.

Electric vehicles also tend to have excellent lease deals. Earlier this year, we saw sub-$100/month leases on the FIAT 500e and Chevrolet Spark EV. Now it's the Volkswagen e-Golf's turn. Californians who currently have a non-VW car can lease an e-Golf for $117 per month with $0 net down payment (after the $2,500 California Air Resources Board rebate).

2016 Volkswagen e-Golf SEL (source: vw.com)

The Numbers

The 2016 Volkswagen e-Golf SE has a retail price of $29,815. Aim for a selling price of $27,300, which is slightly below the average price paid in Southern California.

There are two incentives available from Volkswagen: $1,500 in Conquest Cash (for non-VW owners only) and $7,500 in Lease Bonus Cash. There's also a $2,500 mail-in rebate from the State of California, which we assume you will front as a down payment.

After the incentives and VW's $625 acquisition fee, the net capitalized cost drops to $16,425. Volkswagen estimates the e-Golf is worth $12,522 (42% of MSRP) after 36 months of use at 10,000 miles per year. Therefore the total depreciation expense is $3,903, or $108 per month.

The money factor on the lease is .00030 (equivalent to 0.7% APR), which results in a monthly finance charge of $9. Total monthly payment? $117 per month.

Here's what you should expect when all is said and done. We've added in Los Angeles County sales tax (9%), license/registration, and fees. Program valid through January 4, 2016.

  
    Total Drive-Off
  
    First month's payment (after 9% tax)
    $128
  
    DMV license/registration
    $280
  
    Dealer document fee ($80 max. in CA)
    $80
  
    Capitalized cost reduction
    $2,500*
  
    Sales tax on incentives and capitalized cost reduction
    $1,042
  
    TOTAL DUE AT SIGNING
          $4,030

*You get this back through a $2,500 mail-in rebate from the California Air Resources Board.

Customize your lease with the calculator below. You can adjust inputs such as selling price, incentives, and down payment.

MSRP:

Sales Price:

% off MSRP

Taxed Incentives:

e.g., cash-back offers, loyalty cash, bonus cash.

Untaxed Incentives:

e.g., manufacturer-to-dealer cash rebate or if you live in a state where customer cash rebates are not taxed.

Down Payment:

Acquisition Fee:

I want to pay my acquisition fee upfront.

Net Capitalized Cost:

Residual: %

( miles/yr)

Miles/yr:

Adjusting the miles changes the residual(%).

Money Factor:

APR: %

Months:

Monthly Payment (Excl. Tax):

Document Fee:

License/Registrat. Fee:

Sales Tax: %

Tax your state, county, and city levy.

Tax is levied on the monthly lease payment (most states).

Tax is levied on the sales price upfront (e.g. VA, TX, GA).

Tax is levied on the total lease payment upfront (e.g. NY, MN, OH).

Monthly Payment (incl. tax):

Drive Off:

First month's Payment incl. tax:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on cap reduction and fees:

First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the Sales Price:

First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the total lease payment:
Tax on cap reduction and fees:

Leasehackr Score:

The number of years it would take for the accumulated monthly payments to exceed the MSRP. The higher the number, the better it is to lease as opposed to buy.

Disposition Fee:

Total Lease Cost:

The total cost of leasing over the lease term, including applicable taxes but excluding registration/license fee and the refundable MSD payment.