Hello, gurus,
I am in the market for my first lease, and I am good with excel yet I have been unable to approximate the way this dealer is calculating the monthlies of $255/mo for 36 months on a gross cap cost of $26,939. It appears that $2,905 is due at closing, which I assume includes all taxes, first month, and these other fees shown. But somehow I end up needing to add in $600 of mystery fees in my excel model to approximate the figures that I see on this quote. He said he is using .0014 MF.
For starters, is the tax of 6.25% here in TX supposed to be on the Gross cap cost before taxes, or on the Sales price, or some other combination?
On a related note, does this seem like a reasonable deal?
Here is the lease calculator–somehow I can’t get it to equal what’s in this offer: CALCULATOR | LEASEHACKR
Thanks very much
Post a link to the calculator on here
The only way I can see to recreate this offer is to add $500 in dealer fees on the leasehacker calculator below. Do you guys think that’s what the dealer is doing? I actually had a second dealer match the deal and when I asked him if he was including some hidden fees, he vehemently denied it. So I want to confirm with someone whether I’m inputting this incorrectly–thanks in advance for anyone’s assistance.
leasehackr.com/calculator?make=Subaru&msrp=27310&sales_price=24700&months=36&mf=.0014&dp=0&doc_fee=500&acq_fee=295&taxed_inc=0&untaxed_inc=0&rebate=0&resP=64®_fee=353&sales_tax=6.25&memo=&acqFee_check=true&salesPriceTax_radio=true&miles=12000&msd=0
I went off what you posted and rolled the $200 doc fee into the price, this assumes only $2650 DAS and noting else. I did not have to add the extra $500. Needed $372 of the cash down as cap cost reduction to make it line up
Hi, Joeblogs, I appreciate you looking at it. So what should I make of the difference between your $2650 DAS and the $2905 DAS that the dealer is asking for?
Is the extra $255 another fee that is not being disclosed?
oh i see it now, i didn’t see $2904 before, mmm let me look at again
okey so there is an extra $250 floating around, not the end of the world. how many other quotes have you gotten, that’s the bigger question? have you verified MF/incentives on edmunds?
Oh ok thank you. Well, edmunds lists the MF as .00125, but a dealer told me that was only available for Premium trim. I’m not sure whether to believe that.
I have another dealer this morning who seems to be offering 2900 down and 238/month to try to beat the deal above.
Yeah I’m not super familiar with the Subaru’s but it appears some of the higher trims might lease better. Hopefully some Subaru experts can chime in.
You need to get the dealer’s lease worksheet and post it. What the dealer gave you is pure garbage and is not a lease worksheet. The residual factor (64%?) and money factor (0.00140?) as well as the payment (not an estimate … looks like 254.85) should always be included… not a ball park estimate… that’s horse shit!
Don’t chase after a dealer’s numbers. Often, it’s an exercise in futility as there are sometimes mistakes and missing data. For example, I question the MF. Something isn’t right.
Collect input data and, then, vet it (i.e., doc fee, gov fees, MF, residual, etc). Once you have accurate input data, do your research and determine the sell price as well as all rebates/incentives and, do your own calculations. Do not rely on online calculators, including LH! If you want spot-on calculations, as I do, you’ll need to do the calcs yourself (build a spreadsheet). Finally, create a one-page lease proposal similar to those I’ve posted on different threads… Lease Proposal
You have to control the deal, not the dealer.
1 Like
Wow, Delta737 I completely agree, and I’m really impressed with your level of due diligence. It makes me want to up my game. Thanks so much for posting this level of detail.
Thanks! Let me know if I can help.
