Re: they are taking back the GLX!

[Eric Bosco <ebosco@aol.net>]

> 
> Bill Schaffel wrote:
> 
> > You don't need to finance from VCI. Try the banks, credit unions, and
> > your insurance company. Here in North Carolina, State Farm offers loans
> > through a local bank at a discount rate. The dealer couldn't find
> > anything cheaper.
> 
>   Yes, but I plan on leasing.  I thought that for VW, if you plan on
> leasing you have to go through VCI credit?  I figured that if this
> wasn't the case, the dealer would have found some agency to aprove me. 
> God knows he tried every thing else.
>   
>   Jeremy Brandow
> 

I'm not sure, but I think you can lease via other banks/institutions. I'm
pretty sure when I did a auto by tel search on the web, it pointed me to
carfinance.com and that gave me options to lease. You might want to 
check out there web page.

But, not to open a can of worms for you, are you sure you want to lease? I
never understood the concept very well. There are long term loans (5,6 year)
at pretty attractive interest rates. If you do decided to sell the car before
the loan is due, you at least have built some equity in it as opposed to a 
lease. I understand that lease payments are lower, but by how much? Plus
yuo run into all the mileage restrictions, you can't modify it much etc.

For example, a 20,000 5 yearloan at 8% is roughly $400/month. For a GLX you
would probably have to cough up a $2000-$3000 downpayment on top of that.

How much cheaper is the lease for you a month with a similar amount down?

My understanding is that it is much easier to qualify for a loan than it is
for a lease credit-history wise. 

- -Eric

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Eric Bosco                                                     Unix Programmer 
EricBosco@aol.com, AIM: FastVR6                  Systems & Advanced Technology
http://members.aol.com/ericbosco/                           America Online Inc.