• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Car Lease Calculations - Help I'm An Idiot

M

mtnagel

Member
So I'm looking to lease a car and whenenver I get a quote from a dealer, I make sure to get every number that goes into that calculation so I can confirm that the monthly payment is correct for the total cost they gave. Well, I can't figure this one out (and it works in my favor). Can someone help me.

Base Price (MSRP) = $23890
Cap cost = $23071
Options = $1890 (which, I calculate as the total cost to be $24961 = 23071+1890)
Title registration costs = $50
Money factor = 0.00042
Acquisition fee = $595
Security Deposit = $0
Residual value = $12786.80

He then told me that for 36 months/15,000 miles it would be $317 + tax (he didn't know my tax rate) and I would need to bring in $367 + tax at signing.

So I go to the lease calculator on edmunds.com and I type in all that information (I use 0% for tax and 12787 for residual since you can't enter a decimal, and the $367 down in the down payment spot and it makes me keep $400 as the security deposit, so I put $195 in the acquisition fee spot to make the total of the security and acquisition fee = $595). With all that, the lease payment comes out to $360.73 (a savings of $43.73).

So should I jump at this or am I an idiot and making a mistake.

Matt
 
This a specific question that I can't figure out. Reading an entire website on leasing isn't going to answer my question. I already know all I need to know about leasing.
 
what you think you is not enought knowing, you should know some more so that the more you know is enough to know, which is never enough to know
 
Originally posted by: kermalou
what you think you is not enought knowing, you should know some more so that the more you know is enough to know, which is never enough to know
Click to expand...
Say What??? Ha Ha
 
Originally posted by: Telgin
go to leaseguide.com
Click to expand...
Okay, so that site did explain exactly how to calculate the monthly payments, which is handy because I can't take the internet calculator into the car dealer (well, I guess I could with a laptop). Now, as the saleman goes off to the back room to "run the numbers" (i.e. get a cup of coffee or take a piss), so can I.

Matt
 
You must log in or register to reply here.
Back
Top