Californians: Lease The Volkswagen e-Golf for $117/Month, $0 Down
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).
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.
|First month's payment (after 9% tax)||$128|
|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|